Trocars Market: Demand for Specialised Tools Surges as Patients Prefer Minimally-invasive Surgeries
Since its advent, laparoscopy, or minimally-invasive surgery, has changed the global operative landscape completely. Benefits that this procedure offers include minimization of trauma, quickened pace of recovery, and smaller incisions, all of which lead to better patient outcomes, which have significantly contributed to the growing popularity of laparoscopic procedures. This has, in turn, resulted in the growing demand for specialized equipment for minimally-invasive procedures, also including trocars. Trocars that are made particularly for use in laparoscopic surgeries have been gaining traction in recent years, making this the largest segment by value in the global trocars market. It was valued at ~US$ 390 Mn in 2018 and is expected to expand at a moderate pace to hit the ~US$ 560 Mn mark by the end of 2027.
Following closely is the general surgery application of trocars, which, in 2018, accounted for around one-fifth of the total share of the trocars market, and is anticipated to expand at a value CAGR of ~4% over the forecast period of 2019-2027.
To know the scope of our report Get a Sample on Trocars Market
Disposable versus Reusable Trocars
While high safety and hygiene standards in hospitals and other healthcare centers remain the most important aspect of the viability of the products used in these environments, the cost factor of disposable devices and the environmental aspect of reusable trocars are also being taken into consideration. Cost-effectiveness has become the focus of quality medical care in recent years, leading to the growing popularity of reusable trocars across several healthcare settings. In 2018, reusable trocars accounted for ~27% of the total market share - valued at ~US$ 350 Mn, a figure that is expected to grow 1.5X by the end of the forecast period.
Get a glimpse of the in-depth analysis through our Report Brochure
However, while reusable and reposable trocars account for a prominent share in the global market, disposable trocars continue to remain popular. Accounting for around one-fourth of the total share of the trocars market in 2018, this segment is anticipated to expand at a moderate CAGR of 3.5% over the forecast period, to hit the ~US$ 630 Mn mark by the end of 2027.
Trocars with Valves for Minimal Surgical Trauma Making Waves
Advancements in technology have led to product innovations, not just for improving the comfort of surgeons, but also improving the medical outcomes of surgeries. Innovations in recent times include trocars with valves that help control the leakage of fluid during the procedure. Manufacturers in the trocars market are looking to improve the mechanism of the implements as well, giving surgeons better control of the instruments. For instance, Fujifilm Healthcare, a major player in the global healthcare devices market, demonstrated the Fujifilm Demonstrates Interlock Trocar, an innovative tandem motion visualization device that allows the laparoscope and hand instrument to be controlled at the same time, with one hand.
APAC to Emerge as Lucrative Trocars Market
With healthcare standards improving in developing countries, APAC is emerging as a lucrative market for medical devices and equipment, as diagnoses rates rise, leading to a surge in corrective procedures and surgeries in the region. This has had a positive influence on the growth of the trocars market in the region, which was valued at ~US$ 245 Mn in 2018, and is expected to grow to ~US$ 400 Mn by the end of 2027.
The most prominent regional market in the global trocars landscape is North America, which occupied ~40% of the total share of the market in 2018. While it is expected to expand at a rather sluggish pace of ~3% over the forecast period, it is still likely to remain the largest regional market, albeit with a reduced share of ~35% by the end of 2027. North America’s position at the top of the table, revenue-wise, can be attributed to the presence of several well-established players in the trocars market in the region, including Teleflex Incorporated, Cooper Surgical, Inc., CONMED Corporation, etc.
Expanding operations in future? To get the perfect launch ask for a custom report
Analysts’ Overview
According to analysts at Transparency Market Research, the global trocars market is set to grow at a fairly modest pace of ~4% during the forecast period. There have been several technological advancements, including product innovations, such as the addition of valves and design changes, which have had a significant positive impact on the growth of the trocars market. Players in the global trocars market focusing on product development to improve ease-of-performance for surgeons, and also making procedures less invasive for patients, are likely to maximize gains over the forecast period.
With smaller instruments to be used in laparoscopic surgeries gaining popularity in the foreseeable future, especially with minimally-invasive procedures being offered as a norm, manufacturers looking at redesigning implements for easier insertion and smaller wound profiles are expected to gain a competitive edge in the global trocars market.
Trocars Market – Scope of the Report
TMR’s report on the global trocars market studies the past as well as current growth trends and opportunities to gain valuable insights of the same indicators for the said market for the forecast period of 2019 to 2027. The report provides the overall market revenue of the global trocars market for the period of 2017–2027, with 2018 as the base year and 2027 as the forecast year. The report also provides the compound annual growth rate (CAGR) for the global trocars market for the forecast period.
The report has been prepared after extensive primary and secondary research. Primary research involves bulk of the research efforts, wherein, analysts carry out interviews with industry leaders and opinion makers. Extensive secondary research involves referring to key players’ product literature, annual reports, press releases, and relevant documents to understand the global trocars market.
Secondary research also includes Internet sources, statistical data from government agencies, websites, and trade associations. Analysts have employed a combination of the top-down and bottom-up approach to study various phenomena in the global trocars market.
The report includes an elaborate executive summary, along with a snapshot of the growth behavior of various segments included in the scope of the study. Furthermore, the report sheds light on the changing competitive dynamics in the global trocars market. These indices serve as valuable tools for existing market players as well as for entities interested in entering the global trocars market.
The report delves into the competition landscape of the global trocars market. Key players operating in the global trocars market have been identified, and each one of them has been profiled for their distinguishing business attributes. Company overview, financial standings, recent developments, and SWOTs are some of the attributes of the players in the global trocars market that have been profiled in this report.
Key Questions Answered in the Trocars Market Report
- What is the scope of growth of product companies in the trocars treatment sector?
- What will be the Y-o-Y growth of the trocars market from 2019 and 2027?
- What is the influence of changing trends in technologies on the global trocars market?
- Will North America continue to remain the most profitable regional market in the global trocars market?
- Which factors will impede the growth of the global trocars market during the forecast period?
- Which are the leading companies in the global trocars market?
Research Methodology
A unique research methodology has been utilized by TMR to conduct comprehensive research on the growth of the global trocars market and arrive at conclusions on the future growth prospects of the market. This research methodology is a combination of primary and secondary research, which helps analysts warrant the accuracy and reliability of the drawn conclusions.
Secondary sources referred to by analysts during the production of the global trocars market report include statistics from company annual reports, SEC filings, company websites, World Bank database, investor presentations, regulatory databases, government publications, and industry white papers. Analysts have also interviewed senior managers, product portfolio managers, CEOs, VPs, and market intelligence managers, who contributed to the production of TMR’s study on the trocars market as primary sources.
These primary and secondary sources have provided exclusive information during interviews, which serves as a validation from trocars market leaders. Access to an extensive internal repository and external proprietary databases allows this report to address specific details and questions about the global trocars market with accuracy. The study also uses the top-down approach to assess the numbers for each segment, and the bottom-up approach to counter-validate them. This has helped in reaching TMR’s estimates on the future prospects of the global trocars market more reliably and accurately.