Introduction of Robotics to Emerge as Game Changing Factor for Monopolar Electrosurgery Market, finds Fact.MR
According to a new research report published by Fact.MR, the global monopolar electrosurgery market is expected to witness a promising rate of growth in the coming years of the forecast period ranging from 2020 to 2025. The introduction of robotics has significantly augmented the number of laparoscopic procedures for indications such as prostatectomy, colorectal cancer surgery, hernia repair and plastic surgery. Based on these trends, the global monopolar electrosurgery market is poised to witness a strong growth, recording a 4.1% CAGR during the forecast period (2020-2025)
There are several factors that are helping to drive the overall development of the global monopolar electrosurgery market. One of the key growth factors for the market has been its increasing use across multiple surgeries. Electrosurgical procedures have been widely used for minimally invasive surgeries in the fields of gynecology, cosmetology, open surgery, laparoscopic procedures and flexible endoscopic procedures. Minimally invasive surgeries have surged in popularity in recent years, attributed to greater acceptability among patients and technological breakthroughs.
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Increasing Application in Healthcare and Surgeries to Help Overall Market Development
Monopolar electrosurgery devices are traditionally used in open as well as laparoscopic procedures. Various market players are involved in developing new and innovative products based on monopolar energy. For instance, in April 2016, Encision, Inc. introduced the AEM EndoShield 2 Burn Protection System, a patented technology, to reduce thermal stray energy and make surgeries more efficient. Such introduction of new and innovative products is expected to drive demand, consumption, and subsequent growth of the global monopolar electrosurgery market across the forecast period.
“A surge in the geriatric population pool worldwide has increased the cases of osteoarthritis, leading to a rise in need for arthroscopic surgeries across the world. Based on these trends, application of monopolar electrosurgery in orthopedic treatment is expected to surge in popularity, capturing nearly one-fifth of the global market value,” finds Fact.MR The application segment is anticipated to expand at a CAGR of 4.7% during the forecast period.
However, adoption in general surgery is poised to retain dominance, capturing a quarter of the global monopolar electrosurgery market revenue. Increasing prevalence of chronic ailments such as cancer and lifestyle diseases such as obesity is attributed as a key promoter. Application in general surgery shows modest growth prospects and is expected to expand at a CAGR of 4.0% through 2025
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Asia Pacific to Witness Promising Growth Opportunities in Coming Years
Based on the geographical outlook, the global monopolar electrosurgery market is divided into five key regions. These regions are North America, Latin America, Europe, Middle East and Africa, and Asia Pacific. Of these, presently the Asia Pacific region is dominating the global market. Asia Pacific’s monopolar electrosurgery market is anticipated to expand moderately at a CAGR of 4.7% through 2025, capturing over one-fifth of the total market share. The regional market is witnessing rapid increase in patient population. “Hence, leading market players associated with the production of monopolar electrosurgery devices are finding potential opportunities to broaden their operation base in the region. Moreover, favorable reimbursement policies for minimally invasive surgical procedures are motivating key players to establish their business in the region,” notes Fact.MR
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