The major factors driving the growth of this market are the increasing prevalence of cancer and hernia and growing preference for minimally invasive surgery.
How the Market Growth looks like and Industry Segmentation?
The Trocars Market is expected to reach USD 762.3 million, at a CAGR of 7.2% during the forecast period.
By tip, trocars market segment segmented into bladeless trocars, optical trocars, blunt trocars, and bladed trocars. In 2018, the disposable trocars segment is estimated to account for largest market share. This is mainly due to the ease of use of bladeless tip trocars, which minimize trauma to the abdominal wall and vessels. Moreover, the ergonomic design of these trocars offers high stability.
The application segment is further segmented into general surgery, gynecological surgery, pediatric surgery, urological surgery, and other surgeries. The general surgery segment is estimated to register the highest growth during the forecast period. The key factors driven by the growth of this segment is the rising prevalence of obesity, hernia, and appendicitis.
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Major Industry Growth Drivers;
Growing preference for minimally invasive surgeries
The demand for minimally invasive surgeries (MIS) has grown over the years owing to their advantages over conventional surgical techniques. Apart from time and cost reductions, minimally invasive surgeries are also associated with increased safety, decreased scarring, faster recovery, and decreased hospital stay. A news article published on March 25, 2015, in JAMA (Journal of the American Medical Association) stated that research conducted by investigators at Johns Hopkins Medicine (Johns Hopkins University (US)) showed that American hospitals could collectively save between USD 280 million and USD 340 million a year by performing MIS instead of traditional surgeries.
Rising incidence of target conditions for laparoscopic surgery
Over the last few years, the prevalence and incidences cases of target diseases is increasing across the globe. For instance, according to GLOBOCAN, the number of colorectal cancer cases globally is expected to reach 0.85 million by 2025 from 0.66 million in 2015. The rising incidence of these diseases will correspondingly drive the number of laparoscopic procedures performed. Of these, appendectomies and hysterectomies are the most frequently performed laparoscopic procedures globally.
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Geographical Regions Mapped in Report:
Based on region, the trocars market is segmented into North America, Europe, Asia Pacific, and the Rest of the World (RoW). The large share can primarily be attributed to the increasing prevalence & incidence of cancer, hernia, and appendicitis. The strong presence of major market players in this region ensures easy access to trocars
Major Key Players Mapped in Research Report:
Key players in the trocars market include Medtronic (Ireland), Ethicon (US), B. Braun (Germany), Applied Medical (US), Cooper Companies (US), Teleflex (US), ConMed (US), LaproSurge (UK), Purple Surgical (UK), and GENICON (US).