A trocar is composed of three components, a cannula, placed in the patient in order to allow access to the abdominal cavity, a seal which is placed at the tip of the cannula and allows the instrument to pass through the cannula that helps maintain desired air pressure, and an obturator that does a function of allowing the cannula to penetrate the abdomen. The Trocars Market Size is anticipated to have held a market value of USD 578.9 million in the year 2017 and is expected to grow at a CAGR of 7.5% during the forecast period.
The growing preference for minimally invasive surgeries, the rising prevalence of chronic disorders which requires surgery, and favorable reimbursement policies for various surgeries are expected to drive the growth of the market during the forecast period. On the other hand, product recalls, and failure, trocars associated complications, and stringent government regulation and time-consuming approval process may hinder the growth of the market.
Many companies are operating in the global trocars market. The prominent players in the market are engaged in strategic collaborations, acquisitions, regional expansion, and new product launches to strengthen their market position. For instance, in 2018, B. Braun Melsungen AG opened five new production and administration facilities in Penang, Malaysia. B. Braun Melsungen AG will manufacture medical devices for infusion therapy, pharmaceutical solutions, and surgical instruments in these facilities. Additionally, in December 2015, Johnson & Johnson Services, Inc. announced the formation of Verb Surgical Inc. in collaboration with Verily Life Sciences LLC.
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Some of the prominent players in the global trocars market are Johnson & Johnson Services, Inc., The Cooper Companies, Inc., Conmed Corporation, B. Braun Melsungen AG, Teleflex Incorporated, GENICON, INC., Applied Medical Resources Corporation, Laprosurge, Purple Surgical, and Medtronic.
The Global Trocars Market has been segmented into product, tip, application, and end user.
On the basis of product, the global market has been segmented into disposable trocars, reusable trocars, reposable trocars, and accessories. The disposable trocars segment is anticipated to hold major market share to its cost-effectiveness and safety which has led to its growing adoption as compared to other trocar products.
By tip, the market has been segmented into bladeless trocars, optical trocars, blunt trocars, and bladed trocars. On the basis of tip, the bladeless trocars segment is expected to hold largest market share owing to the advantages such as easy usage of bladeless trocars and no trauma caused to the internal body or organ.
On the basis of application, the market has been segmented into general surgery, gynecological surgery, urological surgery, laparoscopy surgery, pediatric surgery, and others.
On the basis of end user, the global trocars market has been segmented into hospitals and others.
Geographically, the Americas is anticipated to dominate the global trocars market owing to the growing prevalence of several diseases such as cancer, hernia in the region and the availability of reimbursement. Additionally, the developed healthcare infrastructure and increasing geriatric population are expected to contribute to the market growth in the region. Europe is expected to hold the second largest position in the global trocars market. The market growth in this region is attributed to the increasing prevalence of chronic diseases and well-developed healthcare sector in the region. Asia-Pacific region is expected to be the fastest growing region owing to the growing prevalence of obesity, cancer, and various other diseases requiring surgery and developing healthcare infrastructure. The Middle East & Africa has the lowest share of the market.
Global Trocars Market – Competitive Analysis
The structure of the Trocars market is changing due to the acquisition of local manufactures by multinational companies. Due to the increasing competition in the market, multination companies are using the strategy of acquisition, which has increased the profit of the company as well as significantly reduced the competition.
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