Market Trends of Global Trocars Industry
This section covers the major market trends shaping the Trocars Market according to our research experts:
Urological Surgery is Expected to Exhibit Significant Growth Over the Forecast Period
Urological surgery is likely to witness significant growth during the forecast period owing to a high incidence of urologic conditions such as benign prostatic hyperplasia (BPH), renal cyst, cystic kidney diseases, chronic kidney disease, pelvic cancer, etc. According to the article published in the National Institutes of Health in September 2021 by Onecia Benjamin and Sarah L. Lappin., End-stage renal disease (ESRD) affects more than 500,000 persons in the United States annually. Furthermore, according to the National Institute on Diabetes and Digestive and Kidney Diseases (NIDDK) Report in 2020, people with end-stage renal disease (ESRD) require 71% of dialysis treatment, and the remaining 29% need a kidney transplant in the United States annually.
Moreover, as per an article titled 'Epidemiological Trends Of Urinary Tract Infections, Urolithiasis and Benign Prostatic Hyperplasia in 203 Countries and Territories from 1990 to 2019' published in the Journal of 'Military Medical Research' in December 2021, in India, urology diseases affected a large number of people. The country reported the highest incidences of urinary tract infections, urolithiasis, and benign prostatic hyperplasia. Therefore, the high prevalence of urological diseases will require proper disease management including surgery. As a result, the demand for trocars is expected to increase during the study period as it is an essential surgical tool. Therefore, owing to the aforementioned factors, the segment is expected to attain significant growth over the forecast period.
North America is Expected to Dominate the Trocars Market Over the Forecast Period
North America is likely to witness significant growth in the trocars market during the forecast period. Within North America, the United States holds a substantial share of the market, and it is expected to dominate over the forecast period. This can be attributed to the factors such as the increase in the prevalence of diseases such as cancer, urological diseases, diabetes, and cardiovascular diseases among others. As per the statistics provided by the Centre for Disease Control and Prevention (CDC), data updated in September 2021, in the United States, atrial fibrillation is anticipated to affect 12.1 million people by 2030. Additionally, obesity is becoming more common, and bariatric surgery has shown to be a successful way to manage it. As a result, due to obesity, there will likely be more bariatric procedures carried out annually. For instance, according to the Pacific Bariatric statistics data updated in June 2021, in 2020, around 297,000 bariatric surgeries were performed in the United States. These statistics indicate that bariatric surgeries are becoming more and more common, which will increase demand for trocars during the study period.
Several market players are engaged in implementing strategic initiatives, thereby contributing to the region's growth. For instance, In December 2020, CONMED launched Core Entree II Trocar model in the United States. On the other hand, in May 2021, Fannin Ltd launched the Espiner Trocar range. Thus, due to the factors mentioned above, North America is expected to dominate the trocars market over the forecast period.
