Trocars Market Overview, Business Profiles and Forecast to 2023

Market Analysis:

Trocar or trochar, simply put, is a medical instrument that is made of a seal, obturator, and cannula, and mostly used at the time of laparoscopic surgeries. Pediatric surgery, laparoscopy surgery, urological surgery, gynecological surgery, general surgery, and others are some of its key applications.

The global Trocars Market Share was valued USD 578.9 million in 2017 and is likely to grow at a 7.5% CAGR between 2018- 2023, reveals the new Market Research Future (MRFR) report.

Trocars Market Drivers and Restraints:

Various factors are adding to the trocars market share. Such factors, as revealed by the latest MRFR report, include favorable reimbursement policies, increasing incidence of chronic disorders that needs surgery, and preference for surgeries that are minimally invasive as they are safer, have faster recovery time, and minimal chances of infections after the operation. Additional factors adding market growth include increasing applicability in laparoscopic surgeries, rising number of such surgeries each year, rising prevalence of urological and gynecological disorders, increasing geriatric population, and rising disposable income among the middle-class population.

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On the contrary, high cost of laparoscopic surgeries, technical complications, lack of health awareness, unavailability of medical equipment and medical facilities, time-consuming approval process, strict government regulation, and product recalls & failure are the factors that may limit the global trocars market growth over the forecast period.

Key Players:

Medtronic, Purple Surgical, Laprosurge, Applied Medical Resources Corporation, GENICON, INC., Teleflex Incorporated, B. Braun Melsungen AG, Conmed Corporation, and Johnson & Johnson Services, Inc.

Market Segmentation:

  • The MRFR Report offers an inclusive segmental analysis of the global trocars market based on end user, application, tip, and product.
  • By product, the global trocars market is segmented into accessories, reposable trocars, reusable trocars, and disposable trocars. Of these, disposable trocars will lead the market over the forecast period for its safety and cost-effectiveness.
  • By tip, the global trocars market is segmented into bladed trocars, blunt trocars, optical trocars, and bladeless trocars. Of these, bladeless trocars will dominate the market over the forecast period for its plentiful benefits such as easy use and no trauma caused to the organ or internal body.
  • By application, the global trocars market is segmented into pediatric surgery, laparoscopy surgery, urological surgery, gynecological surgery, general surgery, and others.
  • By end user, the global trocars market is segmented into hospitals & others.

Regional Analysis:

By region, the global trocars market covers the growth opportunities and recent trends across Europe, the Americas, the Asia Pacific (APAC), and the Middle East and Africa (MEA). Of these, the Americas will spearhead the market over the forecast period for the availability of reimbursement and rising incidence of hernia and cancer. Besides, increasing geriatric population and developed healthcare infrastructure are also adding market growth.

The global trocars market in Europe is predicted to hold the second-largest share over the forecast period for the presence of a well-developed healthcare sector and rising incidence of chronic disease.

The global trocars market in the APAC region is predicted to grow at a fast pace over the forecast period for the developing healthcare infrastructure coupled with the increasing prevalence of cancer, obesity, and other diseases that require surgery.

The global trocars market in the MEA is predicted to have the lowest share during the forecast period. The Middle East will have a notable share for the growing initiatives by the government for the healthcare sector and the presence of a well-developed healthcare sector.