The global market for trocarsisexpectedtogrowataCAGRof6.8%from2019to reach$968.5millionby2024. This isprimarily 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 60years or over will account formore than 20% of world’spopulation. Inaddition, according to World Bank, the share ofthe 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 isalso 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 gallbladder, smalland 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 27.5/100,000persons in2015 from 24.6/100,000 persons in2006. Hence, growing aging population and rising incidence & prevalence of chronicdiseases relatively increases the demand for various healthcare services including laparoscopic surgicalprocedures, thereby driving the demand for laparoscopic surgical equipmentand trocars.
However,major complications like vascular injury and vesicular injury; and minor side effects such as trocar site infection, herniation, bleeding and post-operative painare associated with the use of trocars. Such side effectsand the shortage of skilled healthcare professionals and surgeons across the globe may inhibit the use of trocars to certainextent during the analysis period. Recently, the emerging economies suchas Asia Pacific and Latin America are providing opportunities in the development and adoption of new technologiesdue to increasing publicand private investments into healthcare industry, rising awareness for health, increasing incidence of chronic diseases with aging population; and growing demand for less invasive therapies withgrowing income level ofmiddle class population.
Onthebasisofproducttype, disposable trocars commanded the largest share of the global trocarsmarket in 2018. The disposable trocars are easy and comfortable to handle and hence enable surgeons to ensure safety at lower perpiece cost attributing to their higheradoptionand large share.
Onthebasisoftypeoftrocar tip, bladeless trocarsdominated the global trocar marketin 2018. The higheradoption of these productsismajorly attributed to the comfort in usage of bladeless tip offering higher stability and reducing the chances of trauma toabdominal wallsand vessels.
Bytip, trocarsmarket 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 ismainly due to the ease of use of bladeless tip trocars, which minimize trauma to the abdominal walland vessels. Moreover, the ergonomicdesign of these trocars offers high stability.
Onthebasisofapplication,general surgery segment commanded the largest share of the global trocarsmarket in 2018. This ismainly attributed to rising incidence & prevalence of diseases like hernia, colorectal cancer, appendicitis, and gastroesophageal refluxdiseases; and rising adoption oflaparoscopicprocedures for the treatment ofthese diseases.
Geographically, NorthAmerica region is expected todominate the global trocarsmarket in 2018, followed by Europe and Asia-Pacific. This ismainly due to remarkably advanced healthcare industry with higher healthcare spending, higher adoption of innovative technologies and MIS surgical procedures; increasing prevalence & incidence ofmany chronic diseases withexpanding proportion of elderly population;and presence of leading players in this region. Asia Pacific regionis expected to witness the significant growthduring the forecastperiod 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 lessinvasive therapies with growing income level of middle class population, and continuous investment & focus of key medicaldevice manufacturing giants on this region.
The global trocarsmarket is oligopolistic in nature with top 3playersholding more than half of the market share in2018. Ethicon Inc. (J&J), Medtronic PLC, and Applied Medical Resources Corporationare the leading players in the global trocars market. The other key players in the global trocarsmarket are Aesculap, Inc. (B. Braun Melsungen AG), Genicon Inc., XionGmbH, LaproSurge Ltd., PetersSurgical, Teleflex Incorporated, Conmed Corporation, Purple Surgical, The CooperCompanies, Inc., Alesi Surgical Limited, Victor Medical, MetroMed Healthcare, Seemann Technologies, Sejong Medical Co., Ltd., Sferamed, Ackermann InstrumenteGmbH, Guangzhou T.KMedical Instrument Co., Ltd., Hangzhou Optcla Medical Instrument Co., Ltd. (Mindray Company), Specath (FoshanSpecial Medical Co., Ltd.), Elmed Incorporated, and OlympusCorporation.
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Keyquestionsansweredinthereport-
• Which are the high growth market segments in terms of products type, type of tip, applications, end users, and regions/countries?
• What is the historicalmarket for trocars across the globe?
• What are the market forecasts and estimatesfrom 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 marketdo they hold?
• What are the competitive landscapesand who are the market leaders by sub-region in the global trocars market?
• What are the recentdevelopments in the global trocars market?
• What are the differentstrategies 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 marketand how do they compete with the globalplayers?
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