The 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:
The laparoscopic power morcellators market consists of devices used for morcellation or fragmentation of tissues and organs growth during minimally invasive surgeries. These devices help surgeons to remove uterine fibroids, myomas, adenomyosis, or suspected uterine cancers in a minimally invasive manner. The morcellators use mechanical, electrocautery, or ultrasonic energy sources to break down larger tissue specimens into smaller pieces so that they can be easily extracted through trocar ports placed in the abdomen. Some key uses of laparoscopic power morcellators include hysterectomy, myomectomy, cholecystectomy, nephrectomy and other procedures.
Market Dynamics:
The growth of the laparoscopic power morcellators market is majorly driven by rising preference for minimally invasive surgeries over traditional open surgeries. Minimally invasive surgeries offer several advantages such as less pain, fewer complications, reduced hospital stay, and quicker recovery time. Moreover, growing awareness aboutwomen healthcare and increasing prevalence of uterine fibroids and other gynecological conditions globally is also propelling the demand for laparoscopic power morcellators. However, product recalls and safety issues associated with power morcellators is a major challenge hampering the market growth.
SWOT Analysis
Strength: Laparoscopic Power Morcellators have minimal invasiveness and faster recovery times for patients compared to traditional open surgeries. They reduce blood loss, pain, and scarring. They allow for smaller incisions leading to better cosmetic outcomes.
Weakness: Power Morcellators spread unsuspected cancerous tissues in the abdominal cavity if used on patients having occult cancer. There are also concerns over mechanical failure and electrical safety issues.
Opportunity: Growth in gynecological procedures worldwide is driving the demand for less invasive treatments. Rising awareness about benefits of laparoscopy over traditional open surgeries also presents an opportunity.
Threats: Increased regulatory pressure and legal liabilities pertaining to accidental spread of occult cancers post power morcellation procedures. Alternatives like laparoscopic suture morcellation and laparoscopic entrapment bags also threaten market share.
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 preference for minimally invasive surgeries. Growth in gynecological procedures and awareness about benefits of laparoscopy over traditional open surgeries are major drivers.
Regional analysis Regional analysis North America dominates the global market and is expected to retain its leading position during the forecast period. This is attributed to factors such as growing prevalence of gynecological disorders, rising awareness about advanced treatments and well-developed healthcare infrastructure in the region. Asia Pacific is projected to be the fastest growing regional market owing to rising medical tourism, increasing healthcare spending and growing geriatric population.
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. The market is fragmented in nature with these leading companies introducing innovative products and expanding reach through strategic collaborations.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it