Global Monopolar Electrosurgery Market Insights
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.
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).
The coronavirus pandemic is anticipated to moderately impact the global monopolar electrosurgery market, owing to patients delaying elective surgical procedures to provide more room for treating COVID-19 patients. However, the growth is expected to pick up in the aftermath of the pandemic.
Technological Insights: Innovations and AEM Technology to Provide Impetus
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.
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Application Insights: General Surgery Remains Key Application Area, Players to Capitalize on Orthopedic Surgeries
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. 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.
Regional Insights: North America at Forefront, Asia Pacific Leads 2nd Wave of Growth
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.
North America is anticipated to retain market hegemony during the forecast period. Significant average selling prices of monopolar electrosurgery instruments, the greater demand from surgeons for advanced minimally invasive surgical devices, and favorable reimbursement coverage for surgical procedures are poised to help North America retain its leading position in the global market.
Furthermore, increase in number of approvals for new devices from the U.S. FDA is anticipated to fuel growth prospects of the monopolar electrosurgery market. The region is poised to capture one-third of the overall market, expanding at a CAGR of 4.1% throughout the forecast period.
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Innovations and Broad-based Product Portfolios to Remain Key Growth Strategies
The global monopolar electrosurgery market is highly consolidated, with two major players accounting for about 60% of the market share. These players are Medtronic and Ethicon, Inc. Strong focus on research and development, diverse product offerings, and a robust regional and global presence have helped these players to consolidate their position in the market.
In 2016, Medtronic invested US$ 2.2 Bn in research and development. Moreover, over 10,000 ForceTraid electrosurgical generators were installed in the U.S. in 2012. Ethicon, likewise, offers a broad range of electrosurgical instruments. These include the ENDOPATH Electrosurgery PROBE PLUS II hand instruments, MEGADYNE MEGA SOFT return electrodes, E-Z CLEAN monopolar electrodes, and MEGADYNE MEGA POWER electrosurgical generators.
Other market players engaged in the monopolar electrosurgery market are CONMED Corporation, BOVIE Medical, Encision, Inc., Olympus Corporation, Aesculap, AG, and BOWA-electronic GmBH & Co.
COVID-19 Impact Analysis
The outbreak of the novel coronavirus pandemic has prompted the international community to initiate massive quarantine measures to contain the spread of the infection. The imposition of lockdowns across continents to maintain social distancing has compelled people to stay within the confines of their house. Following such a scenario, the global monopolar electrosurgery market registered a downturn in the first quarter of 2020.
Medical and healthcare experts have urged patients to postpone elective surgical procedures as a precautionary measure. This also includes electrosurgical procedures for chronic conditions. However, urgent procedures are to be given top priority as these may lead to complications later on. Leading players are ensuring that their supply chains are disrupted as little as possible. Medtronic has been in constant touch with healthcare providers, suppliers, and governments to ensure delivery of life-saving products to patients around the world. The company is also deploying ventilators to various hospitals across the world.
Ethicon, Inc. has developed a novel approach towards safeguarding individuals from the coronavirus infection. The company has launched the MEGADYNE Mega Vac PLUS Smoke Evacuator to be used while performing laparoscopy. Ethicon believes that electrosurgical laparoscopy uses aerosolization, which provides an easy medium for the coronavirus to travel and infect doctors and surgeons. The smoke evacuator helps filter the aerosols generated during the procedure and purifies the air, thus diminishing the chances of infection.
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The Analyst’s Viewpoint
The global monopolar electrosurgery market is poised to expand positively in the future. While the ongoing coronavirus pandemic may temporarily slow down the growth, long-term prospects seem promising. Gains remain driven by continuous technological advancements in electroscopic procedures.
Rising prevalence of lifestyle diseases and chronic conditions will boost demand for laparoscopic procedures, a majority of which shall happen in the Asia-Pacific region. Moreover, favorable reimbursement policies by governments are expected to broaden the growth prospects of the monopolar electrosurgery market.
Global Monopolar Electrosurgery Market: Report Scope
The recent report compiled by Fact.MR incorporates a five-year forecast period, covering the potential drivers, opportunities and restraints impacting the global monopolar electrosurgery market during 2020-2025. The market has been analyzed through the following segments: product, application, and end user. Each segment incorporates a detailed picture of the market based on the revenue generation, market share and future growth.
A detailed regional landscape, based on five major geographies, has also been embedded in the report. These geographies are: North America, Europe, Asia-Pacific, Latin America and Middle East & Africa. Each regional outlook incorporates the segmentations highlighted above.
In addition, a competitive landscape, incorporating information about leading market players, their revenue, expansion strategies and future growth prospects, has been included too. Moreover, each market player is provided with a SWOT analysis to discern an accurate growth picture.
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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.
- Hand Instruments:
- Electrosurgical Pencils
- Monopolar Forceps
- Monopolar Electrodes
- Electrosurgical Generators
- Return Electrode:
- Single Use
- General Surgery
- Gynecology Surgery
- Cardiovascular Surgery
- Cosmetic Surgery
- Orthopedic Surgery
- Urology Surgery
- Ambulatory Surgery Centers
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
“This taxonomy prepared is confidential and intended exclusively for the individual or entity with whom it is being shared. Reading, disseminating, distributing, or copying this to any party other than the addressee(s) is unauthorized and prohibited.”
Global Monopolar Electrosurgery Market - Scope of the Report
The recent study by Fact.MR on the global monopolar electrosurgery market offers a 5-year forecast for the period of 2020-2025. The study analyzes crucial trends currently determining the market growth. This report explicates on vital dynamics such as the drivers, restraints and opportunities for key market players and emerging players associated with the production of monopolar electrosurgery products. The study also provides dynamics responsible for influencing the future status of the global monopolar electrosurgery market over the forecast period.
A detailed assessment of the global monopolar electrosurgery market value chain, business execution, and supply chain across the regional markets has been covered in the report. A list of prominent companies operating in the global monopolar electrosurgery market along with their product portfolio enhances the reliability of this comprehensive research study.
Global Monopolar Electrosurgery Market: Report Summary
The study offers a comprehensive analysis on diverse features including production capacities, demand, product developments, revenue generation and sales in the global monopolar electrosurgery market across the globe.
A comprehensive estimate on the global monopolar electrosurgery market has been provided through an optimistic as well as a conservative scenario, taking into account the sales of global monopolar electrosurgery marketduring the forecast period.
Global Monopolar Electrosurgery Market: Size Evaluation
The global monopolar electrosurgery market has been analyzed for each market segment, in terms of value (US$ Mn).
Market estimates at global and regional levels for the global monopolar electrosurgery market is available in terms of “US$ Mn” for value. A Y-o-Y growth contrast on prominent global monopolar electrosurgery market segments, along with market attractiveness evaluation has been incorporated in the report.
Global Monopolar Electrosurgery Market: Inspected Assessment on Regional Segments
Key sections have been elaborated in the global monopolar electrosurgery report, which have helped deliver projections on the regional markets. These chapters include the regional macros (economic and business environment outlook), which are expected to have a momentous influence on the growth of the global monopolar electrosurgery market during the forecast period.
Country-specific valuation on demand for monopolar electrosurgery has been offered for each regional market, along with the market scope estimate and forecast, price index, and impact analysis of dynamics of prominence in regions and countries. For all regional markets, Y-o-Y growth estimates have also been incorporated in the report.
Detailed breakup in terms of value for emerging countries has also been included in the report.
Global Monopolar Electrosurgery Market: In-Depth Analysis on Competitive Landscape
The report sheds light on the leading manufacturers of monopolar electrosurgery products along with their detailed profiles. Essential and up-to-date data information related to the market performers, who are principally engaged in the production of monopolar electrosurgery products, has been brought with the help of a detailed dashboard view. Market share analysis and comparison of prominent players provided in the report permit the report readers to take preemptive steps in advancing their businesses.
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