Over the years, preference for minimally invasive surgical procedures has increased. This is attributed to several technological advancements to reduce trauma to patients. Growing adoption of laparoscopic procedures for colorectal cancer surgery, hernia repair, and plastic surgery has augmented demand for monopolar electrosurgical devices. In addition, automation in laparoscopic procedure has provided immense boost to its growing acceptance. On the […]
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Electrosurgical Generators Market Growth and Strategies 2021
Over the years, preference for minimally invasive surgical procedures has increased. This is attributed to several technological advancements to reduce trauma to patients. Growing adoption of laparoscopic procedures for colorectal cancer surgery, hernia repair, and plastic surgery has augmented demand for monopolar electrosurgical devices. In addition, automation in laparoscopic procedure has provided immense boost to its growing acceptance.
On the back of the aforementioned trends, the global monopolar electrosurgery market is set to embark on a moderate growth path, expanding at a CAGR of 4.1% during the forecast period (2020-2025). Furthermore, rise in demand for cost-effective monopolar electrosurgery devices in developing economies due to increase in laparoscopic procedures is also anticipated to fuel the global monopolar electrosurgery market growth.
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Key Takeaways of Global Monopolar Electrosurgery Market Study
- Hand instruments remain the bestselling category among monopolar electrosurgery products. Affordability of disposable hand instruments is a key growth driver of their sales, which are anticipated to capture more than 3/5th share of the overall market.
- Application in orthopedic surgeries is poised to soar in popularity, attributed to increasing geriatric population pool and cases of osteoarthritis. Growing at a CAGR of 4.7%, orthopedic surgery, as a key application area, is expected to contribute nearly 1/5th share to the total market value over the forecast period.
- Rising application in general surgeries will continue to influence growth strategies of market players, capturing 1/4th of total market revenue. High prevalence of lifestyle and chronic ailments is the key factor responsible for increased demand for monopolar electrosurgery for application in general surgery.
- Hospitals remain key end user of monopolar electrosurgery, holding a major chunk of the global market value. Rapid development of hospital infrastructure in developing and developed countries and entry of private players in the healthcare sector are attributed as key growth drivers.
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Global Monopolar Electrosurgery Market Segmentation
Fact.MR has studied the global monopolar electrosurgery market with detailed segmentation on the basis of product, application, end user and region.
Product
- Hand Instruments:
- Electrosurgical Pencils
- Monopolar Forceps
- Monopolar Electrodes
- Electrosurgical Generators
- Return Electrode:
- Single Use
- Re-usable
- Accessories:
- Footswitches
- Connectors
- Others
Application
- General Surgery
- Gynecology Surgery
- Cardiovascular Surgery
- Cosmetic Surgery
- Orthopedic Surgery
- Urology Surgery
- Others
End User
- Hospitals
- Ambulatory Surgery Centers
- Others
Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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North America Takes the Lead, Asia Pacific Presents Lucrative Opportunities
Asia Pacific promises substantial growth opportunities for key players operating in the global monopolar electrosurgery market. Increasing patient pool has motivated key players to establish their business in the region. Moreover, favorable reimbursement policies for minimally invasive procedures will further augment the regional market growth. Asia Pacific’s market is poised to expand at a CAGR of 4.7% through 2025.
However, North America will continue retain its lead in the monopolar electrosurgery market, accounting for one-third of the global market value. Increased demand for technologically advanced products and rise in FDA approvals are anticipated to push the growth prospects of North America’s market.
COVID-19 Impact Analysis
The COVID-19 pandemic may register a downturn in the monopolar electrosurgery market, owing to deferment of elective laparoscopic procedures by patients. However, leading manufacturers are ensuring that there is the least possible supply chain disruption in their production capacities.
Medtronic, for instance, is negotiating with healthcare providers, suppliers and governments to ensure delivery of life-saving products. Additionally, the company is distributing ventilators across various healthcare settings to care for COVID-19 patients.
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