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(Medical-NewsWire.com, January 13, 2021 ) According to the new market research report “Trocars Market by Product (Disposable, Reusable, Reposable), Tip (Bladeless Trocars, Bladed Trocars, Blunt Trocars, Optical), Application (General Surgery, Urology, Pediatric, Gynecological Surgery), End User (Hospitals) – Global Forecast” published by MarketsandMarkets™.
The Trocars Market is expected to reach USD 762.3 million, at a CAGR of 7.2% during the forecast period.
Growth Driver in Depth:
- Growing Preference for Minimally Invasive Surgeries
- Rising Incidence of Target Conditions for Laparoscopic Surgery
- Growth Potential of Emerging Economies
# Rising incidence of target conditions for laparoscopic surgery
Over the last few years, the prevalence and incidences cases of target diseases is increasing across the globe. For instance, according to GLOBOCAN, the number of colorectal cancer cases globally is expected to reach 0.85 million by 2025 from 0.66 million in 2015. The rising incidence of these diseases will correspondingly drive the number of laparoscopic procedures performed. Of these, appendectomies and hysterectomies are the most frequently performed laparoscopic procedures globally.
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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.
Ethicon (US) ranked second in the trocars market in 2017. Ethicon develops, manufactures, and markets disposable trocars with innovative technologies. The company’s broad portfolio includes bladed trocars, bladeless trocars, blunt trocars, and accessories. The company has a strong presence across the globe with direct distribution channels. A good brand image for trocars in the market helped the company to maintain its leading position in the market.
The Cooper Companies;
The Cooper Companies (US) held the third place in the trocars market in 2017. To remain competitive in the market, the company offers unique trocars that include pyramidal tip trocars and conical tip trocars. It has a strong presence across all regions in more than 100 countries. Such a wide presence helped the company to maintain its position in the trocars market.
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Mr. Aashish Mehra