Trocars Market Overview:
Trocar is a surgical instrument that is used in various surgical procedures to insert implements into a blood vessel. The growing number of surgeries over the past few years is increasing the market size of trocars. Moreover, factors such as the increasing preferences for minimally invasive surgeries, the rising prevalence of chronic disorders that require surgery, and favorable reimbursement policies are escalating the market on the global platform.
Acknowledging the exponential accruals, the market is witnessing currently, Market Research Future (MRFR) in its recently published study report asserts that the global Trocars market size is projected to reach USD 710.44 Million by 2030 at 7.30% CAGR during the forecast period 2022-2030. The market was valued at USD 578.9 MN. in 2021.
Additional factors having a synergistic effect on the growth of the Trocars market include the increasing number of technological advancements, a growing number of ambulatory services, and government initiatives.
On the flip side, factors such as the product recall and failures alongside the strict government regulation and time-consuming approval process are expected to impede market growth.
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Global Trocars Market – Segmentations
The MRFR analysis is segmented into four key dynamics for enhanced understanding.
By Product : Disposable Trocars, Reusable Trocar, Reposable Trocar, and Accessories among others.
By Tip : Bladeless, Optical, Blunt, and Bladed.
By Application : General Surgery, Urological Surgery, and Pediatric Surgery among other surgeries.
By End-user : Hospitals, Clinics, and others.
Global Trocars Market - Regional Analysis
The North American Region, heading with the growing prevalence of several diseases such as cancer and hernia, accounts for the leading market for trocars devices, globally. Moreover, technological advancements in the manufacturing of these devices is a key force driving the growth of this market.
Additionally, favorable reimbursement policies and the presence of well-developed healthcare infrastructure, and increasing geriatric population are some of the key driving forces contributing to the growth of the regional market.
The U.S., backed by a large number of patients undergoing cancer surgeries, majorly contributes to an increase in the demand for Trocars in the region. Moreover, factors such as the high healthcare expenditures alongside the availability of materials required for the production of these devices and technological expertise drive the growth of the regional market.
The European region, led by the well-established medical devices market accounts for the second-largest market for trocars. European countries like the U.K, Germany, and France spend a lot on the manufacturing of medical and surgical devices. Moreover, the increase in occurrences of chronic diseases such as cancer have led to the rise in the number of surgeries and hence, the rise in the market growth in the region. Also, the presence of a developed healthcare sector and the resurging economy in the region drive the market growth in Europe.
The Trocars market in the Asia Pacific region is emerging as a promising market owing to the increasing occurrences of obesity, cancer, and various other diseases requiring surgery. Moreover, continuously growing healthcare sector led by the rapid economic growth in the APAC that is increasing the per capita healthcare expenses is a dominant driving force behind the growth of the regional market.
Recent economic data suggests that China along with Southeast Asia is expected to join the ranks of the deep-pocketed Asian economies such as Taiwan and Korea.
China, owing to the presence of huge geriatric population and the increasing number of obese populaces, leads the Trocars market in the APAC. Whereas, India due to the vast population base, rapidly changing economy, and the increasing number of manufacturers of these devices, accounts for the second largest market in the region.
Whereas, the Middle East & Africa (MEA)region has the least market share due to the lack of awareness and low healthcare expenditures. The Trocars market in the MEA region will exhibit moderate growth during the corresponding period.
Major Players:
Key players leading the global Trocars market include Medtronic, Johnson & Johnson Services, Inc., The Cooper Companies, Inc., B. Braun Melsungen AG, Conmed Corporation, Teleflex Incorporated, Applied Medical Resources Corporation, GENICON, INC., Laprosurge, and Purple Surgical among others.
Global Trocars Market - Competitive Analysis
The structure of the Trocars market is changing due to the acquisition of local manufactures by multinational companies. Due to the increasing competition in the market, multination companies are using the strategy of acquisition, which has increased the profit of the company as well as significantly reduced the competition.
Industry/Innovation/Related News:
January 31, 2019 ---- Levita Magnetics SpA (Chile), a company dedicated to improving the outcomes of surgical procedures through Magnetic Surgery announced the publication of clinical data on its Levita® Magnetic Surgical System for use in bariatric procedures in the magazine, Obesity Surgery.
First-of-its-kind the Levita Magnetic Surgical System is a useful approach allowing a safe, reproducible, incision-less technique/method for port-less intra-abdominal mobilization. In the clinical test, the device successfully permitted optimal liver retraction during laparoscopic bariatric surgery, facilitating surgical exposure while reducing the number of abdominal incisions.
In conventional laparoscopic bariatric surgeries, shafted surgical instruments are used by fixed-position trocars put in through incisions in the abdomen. Magnetic procedure
facilitates access and visualization of the surgical site and enables procedures with a reduced number of incisions and trocars.
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