Trocars Market Worth $762.3 million, Shows Impressive Growth in North American Medical Industry

PUNE, India, 2020-Nov-02 — /EPR Network/ —

The Top-down and bottom-up approaches were used to estimate and validate the size of the Trocars industry and to estimate the size of various other dependent submarkets. The overall market size was used in the top-down approach to estimate the sizes of other individual submarkets (mentioned in the market segmentation—by product, tip, application, and end user) through percentage splits from secondary and primary research.

According MarketsandMarkets Research – The Trocars Market is expected to reach USD 762.3 million, at a CAGR of 7.2% during the forecast period.

The Key Factors Who will Drives the Market Growth?

• Growing Preference for Minimally Invasive Surgeries
• Rising Incidence of Target Conditions for Laparoscopic Surgery
• Increase in Awareness Programs
• Growth Potential of Emerging Economies

 – Growing preference for minimally invasive surgeries

The demand for minimally invasive surgeries (MIS) has grown over the years owing to their advantages over conventional surgical techniques. Apart from time and cost reductions, minimally invasive surgeries are also associated with increased safety, decreased scarring, faster recovery, and decreased hospital stay. A news article published on March 25, 2015, in JAMA (Journal of the American Medical Association) stated that research conducted by investigators at Johns Hopkins Medicine (Johns Hopkins University (US)) showed that American hospitals could collectively save between USD 280 million and USD 340 million a year by performing MIS instead of traditional surgeries.

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Market Segmentation in Depth:

Disposable trocars are expected to account for the largest market share.

By product, the trocars market is classified into disposable trocars, reposable trocars, reusable trocars, and accessories. The disposable trocars segment is estimated to command the largest market share in 2018. Their cost-effectiveness, user-friendliness, and safety have resulted in their greater adoption, as compared to reusable trocars.

Bladeless trocars segment is expected to account for the largest share of the trocars market in 2018

By tip, segment segmented into bladeless trocars, optical trocars, blunt trocars, and bladed trocars. In 2018, the disposable trocars segment is estimated to account for largest market share. This is mainly due to the ease of use of bladeless tip trocars, which minimize trauma to the abdominal wall and vessels. Moreover, the ergonomic design of these trocars offers high stability.

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Geographical Scenario:

Based on region, the trocars market is segmented into North America, Europe, Asia Pacific, and the Rest of the World (RoW). In 2018, North America is expected to account for the largest share of the global market. The large share can primarily be attributed to the increasing prevalence & incidence of cancer, hernia, and appendicitis. The strong presence of major market players in this region ensures easy access to trocars.

Key players in the trocars market include Medtronic (Ireland), Ethicon (US), B. Braun (Germany), Applied Medical (US), Cooper Companies (US), Teleflex (US), ConMed (US), LaproSurge (UK), Purple Surgical (UK), and GENICON (US).