Trocars Market is Likely To Register a Promising ~4% CAGR Between 2019 And 2027February 23, 2021
Trocars Market: Introduction
Transparency Market Research has published a new report on the trocars market. According to the report, the global trocars market was valued at ~US$ 1.3 Bn in 2018. It is expected to expand at a CAGR of ~4% during the forecast period of 2019 to 2027.
Trocars are devices made up of an obturator, a cannula (a hollow tube), and a seal. Frequently, an insufflation tap is also integrated. Trocars enable pathways into the abdominal cavity to insert a camera and instruments into the abdomen. Cannula sleeve diameters are usually 1 mm larger than instruments to be introduced through them. Of note, 10–12-, 10-, and 5-mm trocars with pyramidal or conical obturators are usually employed for laparoscopic surgery. Stylets on reusable trocars should be sharpened regularly. Disposable trocars offer sharp stylets and tip shields that help avoid organ injuries. Trocar insertion should be controlled and under direct vision to avoid serious complications. A standard three-trocar technique is used: a 10-mm port, a 5-mm port in the right lower quadrant, and a 5-mm port in the left lower quadrant.
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In terms of product, the disposable trocars segment held a major share of the global trocars market in 2018. This segment is likely to maintain its dominance during the forecast period, owing to increase in the use of statins for the treatment of trocars. Cost-effectiveness, user-friendliness, and safe application of disposable trocars have resulted in their greater adoption as compared to reusable trocars. The disposable trocars segment is anticipated to grow at a rapid pace during the forecast period. The reusable trocars segment held a significant share of the trocars market, and is likely to expand at a moderate CAGR from 2019 and 2027. The expansion of this segment can be attributed to the rise in the prevalence of minimally-invasive surgeries.
In terms of tip, the bladeless trocars segment held a major share of the global trocars market in 2018. This can be attributed to their advantages such as easy-to-use bladeless tips and no trauma to internal body organs and vessels. Moreover, the ergonomic design of these trocars offers high stability. Optical trocars held the second-most significant place in 2018.
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Based on application, the laparoscopy segment held a major share of the global trocars market in 2018. This segment is likely to maintain its dominance during the forecast period. Rise in the incidence of diseases correspondingly drive the number of laparoscopic procedures performed, thus boosting the usage of trocars in surgeries, and mainly, laparoscopic procedures, globally. Laparoscopy has been a standard procedure in most medical centers providing surgical services for many years. Both, the range and number of laparoscopic procedures performed are constantly increasing, which drives the segment.
In terms of end user, the hospitals segment held a major share of the global trocars market in 2018. Hospitals are more likely to have experience with trauma patients and emergency measures than surgery center providers. Ambulatory surgery centers (ASCs) are outpatient facilities that offer surgical procedures to patients at reduced costs, often with greater scheduling flexibility than hospitals.
Global Trocars Market: Prominent Regions
North America held a major share of the global trocars market in 2018. The presence of key market players, highly structured healthcare industry, and key developments by market players are the primary driving factors for the market in the region. Rise in awareness regarding the benefits of minimally-invasive surgeries and laparoscopic procedures and increase in healthcare expenditure are encouraging the growth of the regional market. These factors are anticipated to drive the trocars market in the region.
Europe held the second-largest share of the global trocars market in 2018. The growth of the trocars market in the region can be attributed to increase in the prevalence of chronic diseases and well-a developed healthcare sector in the region. Asia Pacific accounted for a significant share of the global trocars market in 2018, and the market in the region is expected to grow at a rapid pace during the forecast period. Increase in the number of people with cardiovascular diseases, more product approvals, and rise in awareness about cardiovascular diseases are factors anticipated to fuel the growth of the trocars market in the region.
Global Trocars Market: Key Players
Key players are expanding their footprint to strengthen their position in the global trocars market. Increase in the number of patients and development of new effective treatments for trocars offer lucrative opportunities for key players to increase their share in the trocars market. Manufacturers are engaging in new product development, collaborations, and distributions. In January 2017, Johnson & Johnson acquired Action Ltd. This acquisition enabled the company to enhance its cardiovascular and metabolic therapeutic segments portfolios.
Prominent players operating in the global trocars market include J&J (Ethicon US, LLC.), B. Braun Melsungen AG, Medtronic, Teleflex Incorporated, CooperSurgical Inc., CONMED Corporation, Applied Medical Resources Corporation, LaproSurge, Purple Surgical, and Unimax medical systems Inc.