Laparoscopic Trocars Market

Laparoscopic Trocars Market Size (2023 to 2028)

The global laparoscopic trocars market size is expected to be worth USD 817.2 million by 2028 from USD 577.2 million in 2023, growing at a CAGR of 7.2% from 2023 to 2028.

A laparoscopic trocar is a medical device used in minimally invasive surgical procedures. The laparoscopic trocar is placed through the abdomen into the respective body organ to allow other devices like scissors, staplers, etc. In these modern days, this instrument is used for a single patient and is disposed of to avoid infections.

MARKET DRIVERS:

The growing demand for minimally invasive procedures for various health problems propels the demand of the global laparoscopic trocars market extensively.

The rise in support from the government through investments is additionally driving the growth of the global laparoscopic trocar market. An increase in the number of skilled professionals and training institutes drives the global laparoscopic trocars market. Rising government support through investments is also driving the market. Increasing minimum procedures that spread very quickly to treat different health problems support market growth forward. Moderate growth of an increase in chronic diseases that require surgery and favorable government policies will drive the laparoscopic trocars market growth during the forecast period.

Increased investment in research and development and favorable reimbursements, and the unmet needs in specialized surgeries created lucrative opportunities for new entrants in the global laparoscopic trocars market. Access to the abdomen in laparoscopy remained the most critical challenge related to the insertion of a surgical instrument through the small cut in skin or flesh. This approach focuses mainly on the technological advancements of a user-friendly laparoscopy, which is affordable for hospitals. Laparoscopic cholecystectomy in patients with situs inversus can be a technically challenging procedure. The challenges include designing small-sized tools that match the operational requirements and introducing additional features like haptic feedback.

MARKET RESTRAINTS:

However, alternate devices' availability at a lower cost is slowly impeding the global laparoscopic trocars market demand. Growth opportunities for the market lie in increasing chronic diseases and increasing knowledge of user-friendly and safe products. However, not having enough health knowledge, the high cost of laparoscopic surgeries, and the unavailability of medical facilities in underdeveloped regions hinder the market growIn addition, the availability of alternative devices at a lower price is hampering growth. In single-port laparoscopic surgery, the surgeon operates a single port/access point, which includes several disadvantages concerning the limitation of complex processes and the higher cost of using a single port. Therefore, it. It hampers the growth of the market. Furthermore, factors such as product recall and failure, strict government regulation, and a time-consuming approval process restrain global laparoscopic trocars market growth.

Impact of COVID-19 on the global laparoscopic trocars market:

The recent pandemic of COVID-19 has had a massive effect on the healthcare sector as the sector has been taken away by the storm. Many countries have imposed a nationwide lockdown during the pandemic crisis to avoid contact with the virus spread. During the lockdown period, the supply chain and raw materials were disrupted. The threat of transmission of COVID-19 during laparoscopic procedures remains theoretical but cannot be excluded completely. All the open surgeries, biopsies, and laparoscopic procedures were delayed till the post-COVID emergency. Advancements in microendoscopic techniques have seen a considerable decrease in the number of surgeries regularly implemented by urologists. The virus can be transmitted via aerosols through the air; as the Society of American Gastrointestinal and Endoscopic Surgeons (SAGES) states, the chance of viral transmission during laparoscopy is through the possible release of the virus in the form of an aerosol. 

REPORT COVERAGE:

This research report on the global laparoscopic trocars market has been segmented and sub-segmented based on the product type, application, and region.

Laparoscopic Trocars Market - By Product Type:

• Disposable trocars
• Responsible trocars
• Reusable trocars
• Others

The disposable trocars segment had the major share of the global market in 2022 and is expected to grow at a notable CAGR during the forecast period owing o the increasing demand for no-side effects treatment procedures based on product type.

Laparoscopic Trocars Market - By Application:

• General Surgery
• Optical Trocars
• Blunt Trocars
• Bladed Trocars

Based on the application, the general surgery segment had the leading share of the market in 2022 and is predicted to grow substantially during the forecast period owing to the rising disposable income in urbanized areas.

Laparoscopic Trocars Market - By Region

• North America
• Europe
• Asia Pacific
• Latin America
• The Middle East and Africa

Geographically, the market is led by North America with the increasing capital income and also the launch of innovative devices with the latest technology into the market. The Asia Pacific and Europe are following North America to lead the highest shares of the market by increasing investments from both public and private organizations. The Middle East and Africa are elevated to have a significant growth rate in the coming years.

KEY MARKET PLAYERS:

Some of the noteworthy companies dominating the global laparoscopic trocars market profiled in the report are Medtronic (Ireland), Ethicon (US), B. Braun (Germany), Applied Medical (US), Cooper Companies (US), Teleflex (US), ONMED (US), LaproSurge (UK), Purple Surgical (UK) and GENICON (US).

KEY HAPPENINGS IN THIS MARKET IN THE RECENT PAST:

• On October 15, 2019, Onmed, which provides access to quality care, announced a partnership and its breakthrough telemedicine station with Tampa General Hospital. 
• On February 14, 2020, Teleflex Incorporated, a medical technology provider for critical care and surgery, announced a global recall of the COMFORT Flo humidification systems. 
• On October 16, 2019, Tampa General and OnMed launched the telehealth station, which can diagnose patients. 
• On October 01, 2019, Athenahealth, Inc. announced that they had created a telemedicine solution to provide a secure environment for the patient and clinician. 
• On March 12, 2019, OnMed launched telemedicine Kiosks that can also dispense prescription medications.