Fact.MR – A Market Research and Competitive Intelligence Provider: As per insights by Fact.MR, the global market for monopolar electrosurgery is anticipated to expand at a CAGR of 4.1% over the forecast period 2021-2031.
Monopolar Electrosurgery Demand to Increase by 4.1% CAGR as Minimally Invasive Surgeries Gain Traction Worldwide
Fact.MR presents a comprehensive analysis of monopolar electrosurgery market, covering growth drivers and restraints impacting the market through 2031. The survey offers monopolar electrosurgery demand outlook and studies opportunities existing in key segments, including type and end user. It also highlights key strategies adopted by market players to increase monopolar electrosurgery sales.
Fact.MR – A Market Research and Competitive Intelligence Provider: As per insights by Fact.MR, the global market for monopolar electrosurgery is anticipated to expand at a CAGR of 4.1% over the forecast period 2021-2031.
Growing preference for minimally invasive surgeries among patients along with technological breakthroughs are expected to propel the growth of the market. With the penetration of robotic assisted surgery, laparoscopic procedures have become highly sought-after to administer treatment for indications including, colorectal cancer surgery, hernia repair, prostatectomy and plastic surgery. This is further anticipated to create an upward growth trend in the monopolar electrosurgery market.
Besides these, rising incidence of osteoarthritis is propelling the demand for monopolar electrosurgery in orthopedic treatment, which is expected to grow at a CAGR of 4.7% and account for 1/5 of the market share over the forecast period.
Some of the leading market players are focusing on diversifying their portfolio by accommodating new and innovative products based on monopolar energy. For instance, in 2019, Olympus launched its new Electrosurgery Generator (ESG-150) which is designed specifically to simplify use and setup along with enhancing patient safety.
Among various applications, general surgery is dominating the market, exhibiting a CAGR of over 4.0% by the end of 2031. Fact.MR has predicted the demand outlook for the segment to remain fairly positive due to increasing incidence of chronic and lifestyle diseases.
According to the study, North America is dominating the global monopolar electrosurgery market, accounting for nearly 1/3rd of the market revenue across the globe. Owing to factors such as growing demand for advanced minimally invasive surgical devices and rising approvals from the U.S. Food Drug and Administration (FDA), the market in the region is anticipated to expand at a CAGR of 4.1% over the assessment period.
“Increasing technological innovations in electroscopic procedures will fuel the demand for monopolar electrosurgery, thereby driving the market growth. Also, the implementation of favorable reimbursement policies by governments will bolster growth prospects over the forecast period, says a Fact.MR analyst.
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Key Takeaways from Monopolar Electrosurgery Market Survey
- The Asia-Pacific market for monopolar electrosurgery is set to expand at a CAGR of nearly 4.7% over the forecast period.
- North America is leading the market for monopolar electrosurgery driven by favorable reimbursement scenario for surgical procedures. It is expected to rise at a CAGR of 4.1% over the forecast period.
- Based on application, the demand for general surgery is anticipated to grow at 4.0% CAGR over the assessment period.
Key Drivers
- Rising demand for minimally invasive surgeries have boosted growth of the monopolar electrosurgery market.
- Growing technological innovations in electrosurgical devices are spurring sales prospects.
Key Restraints
- Rise in preference for ultrasonic devices in laparoscopic procedures is forecast to restrict growth of the monopolar electrosurgery market.
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Competitive Landscape
Key market players operating in the market are focusing on new product launches to enhance their product portfolio. Other market players are undertaking acquisitions and collaborations to strengthen their position in the market.
For instance, in 2018, RoundTable Healthcare Partners announced that its portfolio company, Symmetry Surgical Inc, acquires the Bovie Medical’s Electrosurgical Business. This acquisition of Bovie aligns with Symmetry’s aim focused at enhancing its product portfolio.
In 2021, ETHICON, part of Jhonson & Jhonson Medical Devices Companies announced the launch of its new versatile and easy to use patient return electrode named MEGADYNETM MEGA SOFTTM Universal Plus. With this new launch, ETHICON contributes towards enhancing patient care and environmental sustainability.
Some of the leading players operating in the monopolar electrosurgery market profiled by Fact.MR are:
- CONMED
- BOVIE MEDICAL
- Encision
- Medtronic
- Ethicon
- Olympus
- BOWA-electronic
- Erbe Elektromedizin
- Aesculap (B. Braun Melsungen)
- Meyer-Haake
More Valuable Insights on Monopolar Electrosurgery Market
Fact.MR, in its new report, offers an unbiased analysis of the global monopolar electrosurgery market, analyzing forecast statistics through 2021 and beyond. the survey reveals growth projections on monopolar electrosurgery market with detailed segmentation:
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
Key Questions Covered in the Monopolar Electrosurgery Market Report
- The market survey also highlights projected sales growth for monopolar electrosurgery market between 2021 and 2031
- The report offers insight into monopolar electrosurgery demand outlook for forecast period 2021-2031
- Monopolar electrosurgery market share analysis of the key companies within the industry and coverage of strategies such as mergers & acquisitions, collaborations or partnerships, and others
- Monopolar electrosurgery market analysis identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry
Explore Fact.MR’s Coverage on the Healthcare Domain
Minimally Invasive Surgery Market - In recent years, the demand for minimally invasive surgeries has rapidly increased with a tendency to sophisticated surgical choices which do not have traditional but have least adverse effects. Providers of minimally invasive operating equipment have grown significantly in recent years with advances in medical technology. The most demanded surgical equipment in clinics and hospitals, due to the increased use of modern surgical techniques, is minimum invasive.
Surgical Equipment Market - Impressionable advancements in the surgical equipment have been seen in recent years in minimally invasive treatments. The global market for surgical equipment encompasses portable instruments, operational sutures and staples as well as electrosurgical equipment based on the product. Operational sutures and staples in the healthcare industry are commonly employed. The need for surgical equipment is likely to expand in the next years, with the increasing number of hospitals around the world.
Laparoscopic Sutures Market - The growth of the market for laparoscopic sutures is predicted to increase in the number of laparoscopic operations because of the increasing frequency of gastrointestinal illnesses. Increased public health awareness of the minimally invasive operations is a primary cause of considerable growth of the laparoscopic sutures market. A considerable share of the income of laparoscopic sutures is predicted for laparoscopic needles.
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Source: Fact.MR