by 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.
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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.
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.
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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.
Analysts’ Overview
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.
Global Trocars Market: Overview
The trocars market for the historical period of 2017–2018 and forecast period of 2019–2027, rise in the demand for minimally-invasive surgeries is anticipated to drive the global trocars market.
According to the report, the global trocars market was valued at ~US$ 1.3 Bn in 2018 and is expected to expand at a CAGR of ~4% from 2019 to 2027.
Rise in Demand of Minimally-invasive Surgeries: A Key Driver
A minimally-invasive surgery does not need as large of a dose of pain relievers because the incision during the surgery is much smaller. The procedure involves minimizing surgical incisions to reduce trauma to the body. This type of surgery is usually performed using thin needles and an endoscope to visually guide the surgery.
Minimally-invasive surgeries (MIS) has experienced a surge in popularity over the past few decades, owing to rapid technological advancements and growing consensus in the clinical community. According to a report on laparoscopic devices, 7.5 million laparoscopies were performed around the world in 2015.
The market for this procedure is growing due to new findings and advancements in minimally-invasive surgeries.
Global Trocars Market: Development
Rise in the demand of minimally-invasive surgeries, increase in the incidence of target conditions for laparoscopic surgery, and rise in the geriatric population are the main factors that are anticipated to boost the growth of the global trocars market.
Fluid in the abdomen gets deposited on the camera lens, trocar, and trocar valve, and obscures the view. When removed, both need to be cleaned. Currently, surgeons use cotton-tipped applicators or a 4X4 gauze on an instrument. Trocar Sweep was developed by an advanced laparoscopic surgeon. After pulling out the lens to clean the trocar, the surgeon uses the Trocar Sweep to quickly clean it. It reduces operating time and decreases time without visualization.
Product Failure and Recalls Hamper Global Trocars Market
Manufacturers can experience stop signals from product recalls for many years after the event. Many test their products to determine how they might fail in the future. This proactive approach helps manufacturers refine their processes and ensures that labels and assembly directions are clear.
For instance, Class 2 Device AppleHunt Secondary Cannula/Pyramidal Tip Trocar of CooperSurgical, Inc. was put on recall on March 12, 2018. The reason for the recall was that, the products were packaged with the wrong trocar length type.
Global Trocars Market: Stringent Government Rules and Regulations
Product recalls due to inadequate documentation and incorrect packaging hamper the sales of laparoscopic products. Product recalls affect product sales, and consumers are likely to switch to other brands.
Global Trocars Market: Competition Landscape
This report profiles the major players in the global trocars market based on various attributes such as company overview, financial overview, product portfolio, business strategies, and recent developments.
The trocars market is moderately fragmented, with the presence of a few large-scale players present in international markets, and numerous small-scale players in regional markets. The top four to five players hold a majority share of the global trocars market.
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
- Unimax medical systems Inc.
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?
Global Trocars Market – Segmentation
Product
- Disposable Trocars
- Reusable Trocars
- Reposable Trocars
- Accessories
Tip
- Bladeless Trocars
- Optical Trocars
- Blunt Trocars
- Bladed Trocars
Application
- General Surgery
- Gynecological Surgery
- Laparoscopy
- Urological Surgery
- Pediatric Surgery
- Others
End User
- Hospitals
- Ambulatory Surgical Centers
- Specialty Clinics
Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
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