April 18, 2024
Laparoscopic Power Morcellators Market

Laparoscopic Power Morcellators Market Gaining Traction through Expanding Application in Gynecology

The Laparoscopic power morcellators market comprises laparoscopic power morcellators that are medical devices employed to cut and extract tissues during laparoscopic surgical procedures such as hysterectomies, myomectomies, and laparoscopic colectomies. Power morcellators help in removing fibroids, diseased organs or tissues through small incisions in minimally invasive procedures and come with sharp blades that rotate at high speeds to cut tissues into small bite-sized pieces for easy extraction through trocar sites. The rise in minimally invasive surgeries and demand for faster recovery are driving the adoption of laparoscopic morcellators.

The Global Laparoscopic Power Morcellators Market is estimated to be valued at US$ 130.42 Mn in 2024 and is expected to exhibit a CAGR of 7.3% over the forecast period 2024 to 2031.

Key Takeaways

Key players operating in the Laparoscopic Power Morcellators are Schneider Electric SE, Eaton Corporation PLC, ABB Ltd., Huawei Technologies Co. Ltd., EnerSys, Cummins Inc., Delta Electronics Inc., Myers Power Products Inc., Efore, and Vertiv Co. The rising preference for minimally invasive surgeries over traditional open surgeries and rapid expansion of ambulatory surgical centers and specialty gynecology clinics are fueling demand for laparoscopic power morcellators. North America dominated the market in 2022 due to technological advancements, rising geriatric population undergoing various gynecological procedures, and increasing health care expenditure. However, Asia Pacific is expected to witness the fastest growth rate over the forecast period with the growing medical tourism industry in countries such as India, China, and Indonesia.

Market Key Trends

One of the key trends in the Laparoscopic Power Morcellators Market Size is the introduction of new single-use morcellators. Traditionally, reusable morcellators required cleaning and sterilization between surgical procedures. However, single-use morcellators eliminate the risk of infection transmission as they are meant to be discarded after each use. This is expected to increase adoption rates among ambulatory surgical centers and hospitals. With stringent regulatory approval processes, manufacturers are also developing advanced single-use morcellators with improved tissue morcellation capabilities and enhanced safety features like electrical current limiters and insulation for protecting nearby tissues. This will further support market growth over the next few years.

Porter’s Analysis
Threat of new entrants: New companies find it difficult and costly to establish due to high initial investments required. Bargaining power of buyers: Buyers have moderate bargaining power given the availability of substitute products. Bargaining power of suppliers: Suppliers have low to moderate bargaining power as there are many component manufacturers and key components can be sourced easily. Threat of new substitutes: Substitute technologies such as microlaparoscopy and minimally invasive surgery have increased competition. Competitive rivalry: Being a consolidated market, companies have to regularly introduce innovative products and services to remain competitive.

The North American region accounted for the largest share in the Laparoscopic Power Morcellators Market in terms of value in 2021. The high availability of advanced healthcare infrastructure along with the presence of major players in countries such as the U.S. and Canada contribute to the dominant share of this region. The Asia Pacific region is anticipated to grow at the fastest CAGR during the forecast period owing to increasing healthcare expenditures, rising medical tourism, and growth in the number of hospitals and surgical centers in emerging economies of China and India.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it