Trocars Market will be worth $968.5 million by 2024

Meticulous Research- one of the leading global market research companies published a research report titled "Trocars market by Product Type (Disposable, Reusable, Reposable), Type of Tip (Bladeless, Optical, Bladed, Blunt), Application (General Surgery, Gynecology, Urology, Bariatric Surgery), and End User (Hospitals and ASCs) - Global Forecast to 2024". The global market for trocars is expected to grow at a CAGR of 6.8% from 2019 to reach $968.5 million by 2024.

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The market is primarily driven by increasing adoption of minimally invasive surgical procedures, increasing aging population and rising prevalence of chronic diseases, increasing obesity ratio and rising adoption of laparoscopic bariatric procedures, and technological advancements in the field of laparoscopy. According to the United Nations (UN), by 2050, people aged 60 years or over will account for more than 20% of world's population. In addition, according to World Bank, the share of the geriatric population in North America has increased from 13.2% in 2010 to 14.8% in 2015. This trend of rapid rise in elderly population is also observed in all the other regions globally, which is expected to increase the number of patients suffering from various chronic diseases including the diseases associated with the organs like gall bladder, small and large intestine, uterus, and fallopian tubes situated in abdominal area. For instance, the incidence rate of uterine cancer in the U.S. has increased to 27.5/100,000 persons in 2015 from 24.6/100,000 persons in 2006. Hence, growing aging population and rising incidence & prevalence of chronic diseases relatively increases the demand for various healthcare services including laparoscopic surgical procedures, thereby driving the demand for laparoscopic surgical equipment and trocars.

However, major complications like vascular injury and vesicular injury; and minor side effects such as trocar site infection, herniation, bleeding and post-operative pain are associated with the use of trocars. Such side effects and the shortage of skilled healthcare professionals and surgeons across the globe may inhibit the use of trocars to certain extent during the analysis period. Recently, the emerging economies such as Asia Pacific and Latin America are providing opportunities in the development and adoption of new technologies due to increasing public and private investments into healthcare industry, rising awareness for health, increasing incidence of chronic diseases with aging population; and growing demand for less invasive therapies with growing income level of middle class population.

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On the basis of product type, disposable trocars commanded the largest share of the global trocars market in 2018. The disposable trocars are easy and comfortable to handle and hence enable surgeons to ensure safety at lower per piece cost attributing to their higher adoption and large share.

On the basis of type of trocar tip, bladeless trocars dominated the global trocar market in 2018. The higher adoption of these products is majorly attributed to the comfort in usage of bladeless tip offering higher stability and reducing the chances of trauma to abdominal walls and vessels.

By tip, trocars market segment is segmented into bladeless trocars, optical trocars, blunt trocars, and bladed trocars. In 2018, the disposable trocars segment accounted for the 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.

On the basis of application, general surgery segment commanded the largest share of the global trocars market in 2018. This is mainly attributed to rising incidence & prevalence of diseases like hernia, colorectal cancer, appendicitis, and gastroesophageal reflux diseases; and rising adoption of laparoscopic procedures for the treatment of these diseases.

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Geographically, North America region is expected to dominate the global trocars market in 2018, followed by Europe and Asia-Pacific. This is mainly due to remarkably advanced healthcare industry with higher healthcare spending, higher adoption of innovative technologies and MIS surgical procedures; increasing prevalence & incidence of many chronic diseases with expanding proportion of elderly population; and presence of leading players in this region. Asia Pacific region is expected to witness the significant growth during the forecast period due to huge demand for healthcare from large population base; accelerated growth of economies; lower regulatory hurdles; improving healthcare infrastructure; rising accessibility to healthcare services & innovative products; increasing incidence of many diseases with aging population, and growing demand for less invasive therapies with growing income level of middle class population, and continuous investment & focus of key medical device manufacturing giants on this region.

The global trocars market is oligopolistic in nature with top 3 players holding more than half of the market share in 2018. Ethicon Inc. (J&J), Medtronic PLC, and Applied Medical Resources Corporation are the leading players in the global trocars market. The other key players in the global trocars market are Aesculap, Inc. (B. Braun Melsungen AG), Genicon Inc., Xion GmbH, LaproSurge Ltd., Peters Surgical, Teleflex Incorporated, Conmed Corporation, Purple Surgical, The Cooper Companies, Inc., Alesi Surgical Limited, Victor Medical, MetroMed Healthcare, Seemann Technologies, Sejong Medical Co., Ltd., Sferamed, Ackermann Instrumente GmbH, Guangzhou T.K Medical Instrument Co., Ltd., Hangzhou Optcla Medical Instrument Co., Ltd. (Mindray Company), Specath (Foshan Special Medical Co., Ltd.), Elmed Incorporated, and Olympus Corporation.

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Key questions answered in the report-

Which are the high growth market segments in terms of products type, type of tip, applications, end users, and regions/countries?
What is the historical market for trocars across the globe?
What are the market forecasts and estimates from the period 2018-2023?
What are the major drivers, restraints, opportunities, and challenges in the global trocars market?
Who are the major players in the global trocarsmarket and what share of the market do they hold?
Who are the major players in various countries and what share of the market do they hold?
What are the competitive landscapes and who are the market leaders by sub-region in the global trocars market?
What are the recent developments in the global trocars market?
What are the different strategies adopted by the major players in the global trocarsmarket?
What are the geographical trends and high growth regions/ countries?
Who are the local emerging players in the global trocars market and how do they compete with the global players?

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