The monopolar electrosurgery market is set to grow at a 4.1% CAGR by 2025, driven by minimally invasive procedures and regional opportunities.
Over the years, preference for minimally invasive surgical procedures has increased. This is attributed to several technological advancements to reduce trauma to patients. Growing adoption of laparoscopic procedures for colorectal cancer surgery, hernia repair, and plastic surgery has augmented demand for monopolar electrosurgical devices. In addition, automation in laparoscopic procedure has provided immense boost to its growing acceptance.
On the back of the aforementioned trends, the global monopolar electrosurgery market is set to embark on a moderate growth path, expanding at a CAGR of 4.1% during the forecast period (2020-2025). Furthermore, rise in demand for cost-effective monopolar electrosurgery devices in developing economies due to increase in laparoscopic procedures is also anticipated to fuel the global monopolar electrosurgery market growth.
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Fact.MR has studied the global monopolar electrosurgery market with detailed segmentation on the basis of product, application, end user and region.
Product
Application
End User
Region
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Asia Pacific promises substantial growth opportunities for key players operating in the global monopolar electrosurgery market. Increasing patient pool has motivated key players to establish their business in the region. Moreover, favorable reimbursement policies for minimally invasive procedures will further augment the regional market growth. Asia Pacific’s market is poised to expand at a CAGR of 4.7% through 2025.
However, North America will continue retain its lead in the monopolar electrosurgery market, accounting for one-third of the global market value. Increased demand for technologically advanced products and rise in FDA approvals are anticipated to push the growth prospects of North America’s market.
The COVID-19 pandemic may register a downturn in the monopolar electrosurgery market, owing to deferment of elective laparoscopic procedures by patients. However, leading manufacturers are ensuring that there is the least possible supply chain disruption in their production capacities.
Medtronic, for instance, is negotiating with healthcare providers, suppliers and governments to ensure delivery of life-saving products. Additionally, the company is distributing ventilators across various healthcare settings to care for COVID-19 patients.
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The article focuses on the growth and trends in the monopolar electrosurgery market from 2021 to 2025.
Increased adoption of minimally invasive procedures and advancements in electrosurgical technology drive market growth.
North America leads the monopolar electrosurgery market, with significant growth opportunities in Asia Pacific.
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