01 Oct Global Trocars Market To Be Valued US$ 834.2 Mn by 2023 Due To Increase In The Prevalence Of Obesity, Cancer and Hernia
Global Trocars Market:
“The Global Trocars Market poised to reach US$ 834.2 Mn by 2023 with a significant CAGR over six years forecast period 2018-2023 owing to increase in the prevalence of Obesity, Cancer and Hernia and growing awareness about the advanced treatment methods”
Precision Business Insights (PBI) in its report titled “Global Trocars Market: Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2012-2017 and Forecast 2018-2023” assesses the market performance over six years forecast period over 2018-2023. The report analyses the market value forecast and provides the strategic insights into the market driving factors, challenges that are hindering the market revenue growth over forecast period.
The Global Trocars Market was valued at US$ XX Mn in 2018 and projected to reach US$ 834.2 Mn by 2023 owing to increase in prevalence of obesity, cancer and hernia. Additionally, Market players are leading the market by new product launches and newer innovations and rise in awareness about the advanced technology and advanced treatment methods are anticipated to propel the Global Trocars Market. However, high cost for the treatment and stringent regulations hinder the growth of Global Trocars Market over forecast years.
Global Trocars Market segmented on the basis of product type, by tip, by application, and end user
Disposable Trocars accounted for higher revenue share
Based on product type Global trocars market segmented into disposable trocars, reposable trocars, reusable trocars and accessories. Disposable trocars market accounted for larger revenue share in 2018 and projected to dominate the market over the forecast period owing to increase in the prevalence of obesity, cancer and hernia and disposable trocars are cost-effective, user friendliness, and safe. However, reposable trocars and reusable trocars segment projected to exhibit lucrative growth, due to increase in awareness about the advanced treatment methods and greater adoption of the reposable trocars.
North America leads the Global Trocars Market
PBI’s Global trocars market report analyses the market in different regions such as North America, Europe, Asia Pacific, and RoW. According to regional analysis, North America accounted for larger revenue share through 2012-2017 and the same trend is projected to follow over 2018-2023 owing to increase prevalence of appendectomy, cancer and hernia and the availability of reimbursement for laparoscopic surgeries and presence of all major players in the region. However, Asia Pacific market projected to register highest growth due to presence of a large patient population and increasing awareness.
Innovation of newer products, and strategic alliances are the key strategies adopted by market players
Global Trocars Market further reveals that the key players increasingly adopting strategies such as innovation of newer products, long term alliance to improve market revenue share, and gaining significant geographic presence across the region. For instance. In 2016, Teleflex has launched a second generation Percuvance percutaneous surgical system, which is used to execute laparoscopic procedures.
Key player’s profiled in the report are 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)
By Product Type
- Disposable Trocars
- Reposable Trocars
- Reusable Trocars
By Tip Type
- Bladeless Trocars
- Optical Trocars
- Blunt Trocars
- Bladed Trocars
- General Surgery
- Gynecological Surgery
- Urological Surgery
- Pediatric Surgery
- Other Surgeries
By End User
- Other End Users
- North America
- Rest of Europe
- Australia & New Zealand
- ASEAN (Includes Indonesia, Thailand, Vietnam, Philippines, Malaysia, and Others)
- South Korea
- Rest of Asia-Pacific
- Gulf Cooperation Council (GCC) Countries
- South Africa
- Rest of MEA