The laparoscopic power morcellators market has experienced significant growth in recent years. Laparoscopic power morcellators are electromechanical medical devices that are used to cut tissue or organs into smaller pieces in order to remove specimens from the patient's body through small incisions during a minimally invasive surgery such as laparoscopy. They have various advantages over traditional open surgeries like reduced blood loss, shorter hospital stay and recovery time, less scarring and trauma to tissues. The growing prevalence of hysterectomy procedures for conditions like uterine fibroids and endometriosis has primarily driven the adoption of these devices. Uterine fibroids are non-cancerous tumors that develop in or around the uterus and affect around 70-80% of women by the age of 50. As per estimates, hysterectomies account for nearly one-third of all laparoscopic procedures performed annually in the U.S.
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 from 2024 to 2031.
Key Takeaways
Key players operating in the laparoscopic power morcellators market 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. These players are focusing on new product launches and geographical expansion to consolidate their position. The growing acceptance of minimally invasive procedures worldwide owing to benefits like reduced recovery time, minimal scarring and trauma presents lucrative opportunities for industry players. Several market players are actively involved in funding research on improving the design and functionality of laparoscopic power morcellators to make procedures safer and more efficient. The market is witnessing increased global expansion activities from players looking to tap opportunities in developing regions in Asia Pacific and Latin America with rising medical tourism.
Market Drivers and Restraints
One of the key drivers for the Laparoscopic Power Morcellators Market Size is the rising incidence of uterine fibroids among women globally. As per estimates, uterine fibroids affect 20-40% of women during their reproductive years. Extended working hours and delayed childbearing have contributed to the increasing prevalence of the condition. This is anticipated to drive the demand for minimally invasive hysterectomy procedures using laparoscopic power morcellators. Additionally, the growing geriatric population vulnerable to conditions requiring hysterectomies like endometriosis will also boost adoption. However, product recalls over safety concerns regarding rare risks of spreading unsuspected cancer can negatively impact the market in the short-run. Strict regulatory norms and certification requirements also add to design complexities for industry players. This acts as a key restrain for the growth of the laparoscopic power morcellators market.
Segment Analysis
The laparoscopic power morcellators market is dominanted by gynecologic procedures sub segment. This is because laparoscopic power morcellators are widely used in hysterectomies and myomectomies procedures which accounts for more than 60% of procedures. Heavy bleeding is one of the major post-operative complication of these procedures. Laparoscopic power morcellators help surgeons to remove fibroid tumors or uterus through small incisions, thus reducing post-operative pain and bleeding and enabling faster recovery for patients.
Global Analysis
The North America region dominates the laparoscopic power morcellators market currently. This is attributed to factors such as high incidence of gynecologic conditions like fibroids in countries like United States, availability of advanced medical facilities and growing preference for minimally invasive surgeries. Moreover, heavy funding and investments by government agencies and private players for development of innovative medical devices is also driving the adoption of laparoscopic power morcellators in the region. The Asia Pacific region is expected to witness highest growth during the forecast period owing to rising medical tourism, growing healthcare expenditure and increasing awareness about women's health issues in emerging countries of China and India.
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