The major factors driving the growth of this market are the increasing prevalence of appendicitis and growing preference for minimally invasive surgeries. The global trocars market is expected to reach USD 763.2 million by 2023 from USD 538.5 million in 2018, at a CAGR of 7.2%.
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Disposable trocars are expected to account for the largest market share in 2018
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, trocars market 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.
The general surgery segment is estimated to grow at the highest CAGR during the forecast period
The application segment is further segmented into general surgery, gynecological surgery, pediatric surgery, urological surgery, and other surgeries. The general surgery segment is estimated to register the highest growth during the forecast period. The key factors driven by the growth of this segment is the rising prevalence of obesity, hernia, and appendicitis.
North America is estimated to command the largest share of the market in 2018
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 trocars 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).
Medtronic held the leading position in the trocars market in 2017. The company’s leadership position in the market can be attributed to its strong geographic presence in over 155 countries and diversified product portfolio, which includes bladeless, optical, blunt, and bladed trocars. The company focuses on organic strategies such as expansions to strengthen its position in the market. For instance, in 2016, the company established new Asia Pacific regional headquarters in Singapore. The expansion strengthened the company’s business operations in 80 locations across the Asia Pacific region.
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