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Trocars Market 2024 - By Size, Drivers, Trends, Competitors By 2033
Trocars Market
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According to The Business Research Company's, The trocars market size has grown rapidly in recent years. It will grow from $0.79 billion in 2023 to $0.88 billion in 2024 at a compound annual growth rate (CAGR) of 11.9%. The growth in the historic period can be attributed to minimally invasive surgery adoption, rising surgical volumes, safety and infection control, aging population, regulatory compliance..
The trocars market size is expected to see rapid growth in the next few years. It will grow to $1.33 billion in 2028 at a compound annual growth rate (CAGR) of 10.8%. The growth in the forecast period can be attributed to single-incision surgery, robot-assisted surgery, disposable trocars, patient-centered care, healthcare quality metrics. Major trends in the forecast period include robotic-assisted surgery, enhanced visualization, miniaturization of trocars, emerging materials, specialized trocars.
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Market Drivers and Trends:
The increase in ageing population is expected to increase the prevalence of age-related ailments thus contributing to the growth of the trocars market over coming years. The elderly population is increasing rapidly across the world, and it is expected to continue over the forecast period. Several routine surgical procedures are being gradually replaced by laparoscopic techniques in the older population. During laparoscopic surgery, trocars are inserted through the abdomen to cause minimal invasion to the patient. For instance, according to a World Health Organization factsheet issued in October 2021, 1.4 billion people over the age of 60 will live on the planet by 2030, up from 1 billion in 2020. Therefore, the increasing aging population drives the growth of the trocars market.
The growing technological advancements are shaping the trocars market. The companies in the market are increasingly investing in improving the technology of trocars, which reduces the scope of error and makes the procedure better. For instance, in March 2022, Dutch Ophthalmic Research Center (DORC), a Netherlands-based manufacturer of automated interferometers and inspection equipment, launched EVA NEXUS. With the introduction of EVA NEXUS, numerous advancements in surgical effectiveness and efficiency are made, including SmartIOP, which integrates with the current EquiPhaco technology for improved control in cataract surgery. It includes a revolutionary trocar cannula system called EVA AVETA. It includes a chamfered cannula for easier insertion, a laser-etched shaft for scleral retention, a push-fit connection, and a Hi-Flow infusion connection.
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Major Key Players of the Market:
Johnson & Johnson, B. Braun Melsungen AG, Medtronic plc, Teleflex Incorporated, CooperSurgical Inc., CONMED Corporation, Applied Medical Resources Corporation, LaproSurge Ltd., Purple Surgical Manufacturing Ltd., Unimax Medical Systems Inc., Olympus Corporation, Medline Industries Inc., Stryker Corporation, Grena Ltd., Becton, Dickinson and Company, Maxer Endoscopy GmbH, Microline Surgical Inc., EndoMed Systems GmbH, Seemann Technologies GmbH, Ackermann Instrumente GmbH, Silex Medical LLC, Mediflex Surgical Products, SurgiQuest Inc., MedGyn Products Inc., Reda Instrumente GmbH, Taut Inc., Edwards Lifesciences Corporation, Smiths Medical International Ltd., Terumo Corporation, Intuitive Surgical Inc., ResMed Inc., Hill-Rom Holdings Inc., Varian Medical Systems Inc.
Trocars Market 2024 Key Insights:
• The trocars market size is expected to see rapid growth in the next few years. It will grow to $1.33 billion in 2028 at a compound annual growth rate (CAGR) of 10.8%.
• The Growing Aging Population Fuels Growth In The Trocars Market
• Technological Advancements In The Trocars Market
• North America was the largest region in the trocars market in 2023
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