The global Laparoscopic Power Morcellators Market is estimated to be valued at US$ 113.21 Mn in 2023 and is expected to exhibit a CAGR of 5.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Laparoscopic power morcellators are medical devices used to cut tissues and organs into smaller pieces so that they can be easily removed through narrow laparoscopic ports during minimally invasive surgeries. They help in eliminating the need for open surgery and allow shorter hospital stays and faster recovery for patients undergoing hysterectomy or myomectomy procedures. These devices create a morcellation containment system using an integrated morcellator bag or laparoscopic specimen containment device, which contains tissue or organ fragments created during the procedure to prevent dissemination. The adoption of laparoscopic power morcellators is growing owing to advantages such as reduced surgery time, minimal blood loss, smaller incisions and scars, quicker recovery time, and reduced risk of infection associated with minimally invasive surgeries.
Market key trends:
One of the key trends in the laparoscopic power morcellators market is the growing preference for single-use morcellator devices to avoid risk of infections. Single-use morcellators eliminate the need for reprocessing, thereby minimizing the potential spread of infectious materials. Moreover, increasing awareness about women's health issues and rising focus on treatment of uterine fibroids and endometriosis is also fueling the demand for laparoscopic procedures and associated morcellation devices. Additionally, ongoing technological advancements aimed at improving safety features of morcellators is further supporting the market growth. However, stringent regulatory norms and lawsuits over risk of cancer spread during procedures continues to pose a challenge.
Porter’s Analysis
Threat of new entrants: The high costs associated with R&D and manufacturing required to enter this market makes it difficult for new players.
Bargaining power of buyers: The large number of players in this market and availability of substitutes provides buyers with higher bargaining power.
Bargaining power of suppliers: The key components used in manufacturing are available from a large number of suppliers, thus limiting their bargaining power.
Threat of new substitutes: Emerging minimally invasive procedures pose a potential threat by limiting the use of power morcellators.
Competitive rivalry: High.
Key Takeaways
Global Laparoscopic Power Morcellators Market Size is expected to witness high growth, exhibiting CAGR of 5.3% over the forecast period, due to increasing need for minimally invasive treatments for hysterectomies and myomectomies.
The market size for 2023 is estimated to be US$ 113.21 Mn. Regional analysis shows that North America dominates currently due to high awareness and adoption of minimally invasive surgeries. Asia Pacific is expected to witness the fastest growth over the forecast period due to rising medical tourism and increasing healthcare spending.
Key players operating in the Laparoscopic Power Morcellators market are LiNA medical, Blue endo, Johnson and Johnson, Hangzhou kangji medical instruments, WISAP medical technology, Zhejiang geyi medical instrument, Karl storz GmbH, Medtronic, Richard wolf GmbH, Lumenis (Boston Scientific Corporation), Nouvag AG, RUDOLF Medical GmbH, and Olympus Corporation. Johnson and Johnson and Medtronic capture over 50% of the global market share currently.
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It includes the size, share, growth, trends, key players, segments and regional analysis in detail during the study year 2020-2027.The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.
The major players in the laparoscopic power morcellators market include Medtronic, Karl Storz GmbH, Richard Wolf GmbH, LiNA Medical, Lumenis (Boston Scientific Corporation), Nouvag AG, Olympus Corporation, RUDOLF Medical GmbH.
This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.Get more information on "Global Laparoscopic Power Morcellators Market Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/laparoscopic-power-morcellators-market/download-sampleMarket DynamicsThe rising prevalence of uterine fibroids is growing the need for myomectomy or hysterectomy treatments globally, expanding the market for laparoscopic power morcellators.
Furthermore, due to the lower risk associated with such operations, minimally invasive and non-invasive surgeries are gaining favour these days.
These fibroids can be removed through tiny incisions by breaking them into pieces, a process known as morcellation, using laparoscopic power morcellators.
Thus, compared to open abdomen surgeries, the chances of blood loss and infection are lower with minimally invasive techniques.
