Understanding Impact of COVID-19 on Monopolar Electrosurgery Market
Transparency Market Research (TMR) has published a new report titled, ‘Monopolar Electrosurgery Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2027’. According to the report, the global monopolar electrosurgery market was valued at US$ 1.72 Bn in 2018 and is projected to expand at a CAGR of 3.9% from 2019 to 2027.
Overview
- Electrosurgery uses high frequency energy to cut and coagulate tissues during surgical procedures. Monopolar electrosurgery devices work on the same principle, where RF energy is used to cut and coagulate the tissues during surgical procedures.
- However, in monopolar devices, the return current to the electrosurgical generator flows through the patient’s body via the return electrodes
- North America dominated the global monopolar electrosurgery market in 2018and the trend is anticipated to continue during the forecast period. High adoption of advanced energy surgical devices in the U.S., increase in number of approvals for new devices from the U.S. FDA, and rise in percentage of minimally invasive surgical procedures performed in the U.S. and Canada contributed to the high share of North America in 2018
- Asia Pacific is likely to be a highly lucrative market for monopolar electrosurgery and it is expected to expand at a high CAGR during the forecast period
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Increase in Number of Minimally Invasive Surgical Procedures Performed Each Year to Drive Market
- Electrosurgical devices have been widely used for minimal invasive surgeries in the field of gynecology, cosmetology, open surgery, laparoscopic procedures, and flexible endoscopic procedures.
- Minimally invasive surgery has been one of the most preferred methods of treatment in the past few years among health care providers across the world
- A study conducted at the Johns Hopkins University School of Medicine in Maryland, U.S. revealed that urban hospitals were performing laparoscopic appendectomies four times more than rural hospitals, and were likely performing 15 times more minimally invasive hysterectomies than rural hospitals.
- According to the American Congress of Obstetricians and Gynecologists (ACOG), the percentage of minimally invasive hysterectomy procedures performed in the U.S., has increased from an estimated14% in 2004 to 53% in 2013
- Introduction of robotic assisted surgery has also driven the number of laparoscopic surgeries performed for indications such as prostatectomy, colorectal cancer surgery, hernia repair, and plastic surgery
- According to the American Society of Plastic Surgeons, an estimated 20 million surgical procedures were performed across the world in 2014, and52% of these were minimally invasive surgeries
- Increase in the number of laparoscopic surgeries performed each year is expected to drive demand and subsequent consumption of monopolar electrosurgery devices in the global market. This is in turn expected to propel the global monopolar electrosurgery devices market during the forecast period.
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Hand Instruments Segment to Dominate Market
- Based on product type, the global monopolar electrosurgery market has been divided into hand instruments, electrosurgical generators, return electrodes, and accessories.
- The hand instruments segment dominated the global monopolar electrosurgery market in 2018 and the trend is projected to continue during the forecast period.
- Factors attributed to the higher share of the hand instruments segment in the global market include low cost of disposable hand instruments leading to increasing demand of these products in various surgical procedures especially in emerging countries and increasing number of players offering new and advanced hand instruments in the market.
General Surgery to be Highly Lucrative Segment
- In terms of application, the global monopolar electrosurgery market has been classified into general surgery, gynecology surgery, cardiovascular surgery, cosmetic surgery, orthopedic surgery, urological surgery, and others.
- General surgery is projected to be the most attractive segment during the forecast period.
- There is a significant increase in chronic diseases such as cancer, and lifestyle diseases such as obesity across the world. This is presenting large patient pool undergoing cancer and bariatric surgeries, especially in the U.S. and countries in Europe. These factors fuel the growth of the general surgery segment.
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North America to Dominate Global Market
- In terms of region, the global monopolar electrosurgery market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominated the global monopolar electrosurgery market in2018, followed by Europe.
- North America accounted for major share of the global monopolar electrosurgery market in 2018. Its dominance can be attributed to rise in preference for minimally invasive surgeries especially at outpatient settings. The development in reimbursement structure at outpatient settings is expected to fuel growth in terms of revenue during the forecast period.
- The monopolar electrosurgery market in Asia Pacific is anticipated to expand at a high CAGR from 2019 to 2027
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Competitive Landscape
- The global monopolar electrosurgery market is colnsolidated in terms of number of players. Key players in the global market includeCONMED Corporation, BOVIE MEDICAL, Medtronic, Ethicon, Inc., Olympus Corporation, BOWA-electronic GmbH & Co. KG, Erbe Elektromedizin GmbH, Aesculap, AG (B. Braun Melsungen AG), and Meyer-Haake GmbH, among others.
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