Global Monopolar Electrosurgery Market: Rising Awareness About Advanced Medical Procedures to Fuel Growth Prospects, Says TMR

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Feb 15, 2018, 08:00 ET

ALBANY, New York, February 15, 2018 /PRNewswire/ --

TMR pegged the global monopolar electrosurgery market at US$1.60 bn in 2016. Rising at a CAGR of 4.2%, the global monopolar electrosurgery market is likely to reach US$2.29 bn by the end of 2025. Among key products types, the market was led by the hand instruments segment in 2016. The rising demand from emerging nations is likely to fuel scopes for expansion of this segment during the course of the forecast period. Regionally, North America held lead in 2016 due to the rising demand from surgeons for technological advanced minimally invasive devices. However, during the coming years Asia Pacific is likely to offer lucrative prospects.

Rising Demand for Minimally Invasive Surgeries to Boost Growth Prospects

The market will considerably benefit from the rising demand for minimally invasive surgeries. Besides this, the rising adoption of technology advanced products in the healthcare sector will create attractive opportunities for the market's growth. The market will also benefit from the rising awareness about advanced surgical techniques in developing nations. This will ensure swift growth for the market in the coming years.

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During the course of the forecast period, the global monopolar electrosurgery market is likely to gain impetus on account of innovations that promise to reduce complications of monopolar devices. As per experts, the rising preference toward outpatient settings will also enable the market gain momentum in the coming years. As per TMR, the market is witnessing a high demand for medical instruments that come in direct contact with patient's body as it reduces the chances of infection. This in turn has boosted the sales of single-use instruments, in turn creating an environment conducive to the growth of the global monopolar electrosurgery market. These factors, coupled with investment in research and development activities, the latest technological advancements, increasing availability of skilled workforce, and the demand for minimally invasive surgeries will chalk a positive trajectory for the market in the coming years.

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Advent of Advanced Ultrasonic Devices May Create Hindrances to Growth

TMR also expects the global monopolar electrosurgery market to reap the benefits of favorable government initiatives. Such steps taken by the government has increased the access to elective surgery, which in turn will aid in the expansion of the global market. Contrary to this, the availability of advanced ultrasonic devices is increasing, which could pose threat to the global market. Patients' preference toward minimally invasive surgical procedures will naturally shift their focus toward advanced ultrasonic procedures. Also, complications related to monopolar electrosurgery can create hindrances for the market in the coming years.

Rein of the global monopolar electrosurgery market is mostly in the hands of established players. However, dynamic trends and recent innovations in technologies have paved way for the entry of new players, finds Transparency Market Research (TMR) in a new study. The presence of strong local players in developing countries has further intensified competition in the global monopolar electrosurgery market. Businesses of local players operating in emerging nations such as India and China are often backed by the easy availability of raw materials and cheap labors. Hence, they offer equipment at a much lesser cost, which fuels concerns for the established market players. Some of the most names operating in the global monopolar electrosurgery market are CONMED Corporation, BOVIE MEDICAL, Encision Inc., Medtronic, Ethicon, Inc., Olympus Corporation, BOWA-electronic GmbH & Co. KG, Erbe Elektromedizin GmbH, Aesculap, AG (B. Braun Melsungen AG), and Meyer-Haake GmbH.

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This review is based on a TMR report, titled "Monopolar Electrosurgery Market (Product Type - Hand Instruments (Electrosurgical Pencils, Monopolar Forceps, and Monopolar Electrodes), Electrosurgical Generator, Return Electrode (Single Use and Re-usable), Accessories (Footswitches and Connectors); Application - General Surgery, Gynecology Surgery, Cardiovascular Surgery, Cosmetic Surgery, Orthopedic Surgery, and Urology Surgery; End User: Hospitals, Ambulatory Surgical Centers, and Specialty Clinics) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2017 - 2025."

Key Takeaways:

Rising demand for minimally invasive surgeries to boost the demand for monopolar electrosurgery.
Availability of ultrasonic devices may restrain the market to an extent.

The report segments the global Monopolar Electrosurgery Market as:

Global Monopolar Electrosurgery Market, by Product Type

Hand Instruments
- Electrosurgical Pencils
- Monopolar Forceps
- Monopolar Electrodes
Electrosurgical Generator
Return Electrode
Single Use
Re-usable
Accessories
Footswitches
Connectors
Others

Global Monopolar Electrosurgery Market, by Application

General Surgery
Gynecology Surgery
Cardiovascular Surgery
Cosmetic Surgery
Orthopedic Surgery
Urology Surgery
Others

Global Monopolar Electrosurgery Market, by End-user

Hospitals
Ambulatory Surgical Centers
Others

Global Monopolar Electrosurgery Market, by Geography

North America
- U.S.
- Canada
Europe
- U.K.
- Germany
- France
- Spain
- Italy
- Russia
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- Australia & New Zealand
- Rest of Asia Pacific
Latin America
- Brazil
- Mexico
- Rest of Latin America
Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East & Africa

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Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company's exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR's experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.

TMR's data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.

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