Trocars Market Leading Competitors, Regional Trends and Growth Trends 2023

 

Increasing preference for minimally invasive surgeries over conventional open surgeries and rising prevalence of cancer, hernia, and appendicitis are the major factors driving the growth of the market. Emerging economies such as India and China provides opportunities for players operating in the trocars market.

The trocars market is expected to reach USD 762.3 million by 2023 from USD 538.5 million in 2018, at a CAGR of 7.2%.

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Prominent players in the market include Medtronic (Ireland), Ethicon (US), and The Cooper Companies (US).

The key strategies followed by most companies in the trocars market are expansions, agreements, and collaborations to achieve growth in the global trocars market. The strategy of expansions accounted for the largest share of the overall growth strategies mapped from 2015 to 2018.

Medtronic

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.

The objectives of this study are as follows:

·         To define, describe, and forecast the market by product, tip, application, end user, and region

·         To forecast the size of the market with respect to four main regional segments, namely, North America, Europe, Asia Pacific, and the Rest of the World (RoW)

·         To provide detailed information regarding the major factors influencing the growth of the market (drivers, opportunities, and challenges)

·         To strategically analyze micromarkets with respect to individual growth trends, prospects, and contributions to the overall market

·         To analyze the opportunities in the market for stakeholders and provide details of the competitive landscape for market leaders

·         To profile key players and comprehensively analyze their market shares and core competencies in terms of market developments and growth strategies

·         To track and analyze competitive developments such as expansions, agreements, acquisitions, and collaborations in the market