Trocars Market Size Worth USD 991.1 Million By 2026

The global trocars market size is estimated to reach USD 991.1 million by 2026, according to a new report by Grand View Research, Inc., progressing at a CAGR of 4.3% during the forecast period. Rising geriatric population, increasing reliance on laparoscopic surgeries, and favorable reimbursement policies in developed countries are some of the primary growth stimulants for the market.

Favorable reimbursement policies by governments and key players for surgical devices and instruments are projected to boost the growth of the market over the forecast period. Key players are providing favorable reimbursement policies in order to promote minimally invasive surgeries, laparoscopic surgeries, and bariatric surgeries. For instance, Ethicon (subsidiary of Johnson & Johnson) conducts Reimbursement Support Program to help healthcare providers with reimbursement related to laparoscopic surgeries and minimally invasive surgeries. These initiatives are most likely to help healthcare providers to take up these procedures instead of traditional ones. Thus, these factors are likely to drive the market over the forecast period.

In addition, the volume of surgeries has increased manifolds due to increasing geriatric population worldwide. Geriatric population are prone to various diseases, which require various surgical interventions for treatment. According to estimates published by WHO, the global elderly population is likely to increase from 841.0 million in 2014 to more than 2.0 billion by 2050.

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Further key findings from the report suggest:

• The global disposable trocars market is expected to dominate the market in 2017. Disposable trocars deliver high quality medical output and the chance of post-operative infection is low.
• Optical trocars are anticipated to be the fastest growing segment with a CAGR of over 4.5% owing to increasing demand for technologically advanced devices for surgeries
• Gynaecological surgery represented the largest share in 2017, with a valuation of USD 174.64 million, owing to increasing prevalence of gynaecological disorders across the globe.
• North America dominated the market in 2017 and accounted for approximately half of market revenue. Rising number of surgeries, advancements in healthcare infrastructure, and increasing demand for technologically advanced surgical procedures are contributing to the growth of the region
• Asia Pacific is poised to witness the highest growth in the market due to high population, rising geriatric population, and expanding base of patients with unmet needs
• Some of the key companies present in the market are CONMED Corporation; The Cooper Companies Inc.; Teleflex Incorporated; GENICON, Inc.; Medtronic; B.Braun Medical Inc.; and Johnson & Johnson.