The Laparoscopic Power Morcellators Market is estimated to be valued at US$ 113.21 Mn or 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 in laparoscopic or minimally invasive surgery to cut tissues and organs into small fragments so that they can be easily removed through small incisions made in the abdominal wall. They are commonly used for removing fibroids, polyps, gallbladders, or other benign growths. Various types of laparoscopic power morcellators available in the market include bipolar and monopolar morcellators. The emergence of single-port laparoscopy where all surgical instruments are passed through a single entry point is driving the demand for smaller and more flexible morcellators.
Market Dynamics:
The growing preference for minimally invasive surgeries over traditional open surgeries owing to advantages such as lesser scarring, reduced hospital stay, and faster recovery is a key factor driving the growth of the laparoscopic power morcellators market. Moreover, increasing prevalence of various benign conditions such as uterine fibroids that require surgical removal is also supporting the adoption of laparoscopic power morcellators. However, risks associated with potential spread of undetected occult cancer during morcellation procedures is a major challenge for market growth. Advancements in tissue containment technology and preferential use of laparoscopic power morcellators only for confirmed benign conditions are some initiatives taken by manufacturers to address this concern.
Segment Analysis:
The laparoscopic power morcellators market is dominated by gynecological morcellators sub-segment due to increased prevalence of uterine conditions such as uterine fibroids and rising number of hysterectomies performed globally. Gynecological morcellators accounted for over 60% share of the overall market in 2022.
PEST Analysis:
Political: Regulations for usage of power morcellators in hysterectomy procedures have been tightened in major markets like US and Europe in recent years due to safety concerns.
Economic: Growth of the overall laparoscopic devices market and rising medical tourism in developing nations will positively influence demand for laparoscopic power morcellators over the forecast period.
Social: Increasing awareness about minimally invasive procedures and risingpreference for surgeries with minimal incisions and scars is driving adoption of laparoscopic power morcellators.
Technological: Advancements in tissue morcellation techniques and development of safer energy devices and containment bags for specimen retrieval are some key technological developments in this market.
Key Takeaways:
The Global Laparoscopic Power Morcellators Market Demand is expected to witness high growth, exhibiting CAGR of 5.3% over the forecast period, due to increasing preference for minimally invasive surgeries and technological advancements. The North America region dominated the market with around 40% share in 2022 due to favorable reimbursement policies and healthcare infrastructure in countries like US and Canada. The Asia Pacific region is anticipated to witness fastest growth during 2023 – 2030 on back of growing medical tourism, rising healthcare expenditure and increasing awareness about advanced gynecological procedures in emerging nations like India and China.
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 currently lead the global market with their wide product portfolios and strong geographical presence across key regions.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc.