Monopolar Electrosurgery Market Size, Share, Growth, Trends, Consumption, Revenue, Company Analysis, Regional Insights and Forecast 2021-2028

Published Date : Nov 2020 | No. of Pages : 200 Pages | Category : Healthcare

According to Vision Research Reports, the global monopolar electrosurgery market size was valued at US$ 1.80 Bn in 2020 and expected to surpass US$ 2.5 billion by 2028 with a CAGR of 4% from 2021 to 2028.

Rise in demand for cost-effective monopolar electrosurgery devices, especially in emerging countries such as China, India, and Brazil, owing to surge in number of laparoscopic surgeries being performed across the world is projected to drive the global monopolar electrosurgery market during the forecast period.

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 2020 and 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 2020
  • 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

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 estimated 14% 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, and 52% 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.

Rise in Preference for Advanced Ultrasonic Devices for Minimally Invasive Surgical Procedures to Hamper Market

  • Electrosurgery devices based on radiofrequency energy have witnessed constant innovation not only in terms of new devices, but also in terms of advances in technologies and newer forms of energies used to cut and coagulate tissues during laparoscopic procedures
  • Ultrasonic energy devices were first launched in 2000 and attracted the attention of health care providers, and gained rapid adoption owing to significant benefits over monopolar and bipolar energy devices in laparoscopic procedures
  • Ethicon, Inc., Covidien, and Olympus have introduced iconic and blockbuster brands including the HARMONIC, THUNDERBEAT, and Sonicision. This has increased demand for laparoscopic surgeries across the world.
  • According to Olympus Corporation, the THUNDERBEAT platform registered an estimated 36% revenue growth in the U.S. from 2012 to 2015, and the hand-held instruments registered a 78% volume growth (unit sales) in the country.
  • Rise in preference for ultrasonic devices in laparoscopic procedures is expected to hamper the growth of the global monopolar electrosurgery devices market

Increase in Number of Minimally Invasive Surgical Procedures Performed Each Year Boost Market Growth

  • 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 estimated 14% 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, and 52% 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.

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 2020 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.

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 in 2020, followed by Europe.
  • North America accounted for major share of the global monopolar electrosurgery market in 2020. 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 2021 to 2028.

Competitive Landscape

  • The global monopolar electrosurgery market is colnsolidated in terms of number of players. Key players in the global market include CONMED 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.

Market Segmentation

By Product Type

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

By Application

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

By End-user

  • Hospitals
  • Ambulatory Surgery Centers
  • Others

By Region

    • North America
      • U.S.
      • Canada
    • Europe
      • Germany
      • U.K.
      • France
      • Italy
      • Spain
      • Rest of Europe
    • Asia Pacific          
      • China
      • India
      • Japan
      • 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

Report Scope

The Monopolar electrosurgery market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.

The report provides size (in terms of volume and value) of Monopolar electrosurgery market for the base year 2020 and the forecast between 2021 and 2028. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.

This report focuses on the global Monopolar electrosurgery market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Monopolar electrosurgery market development in United States, Europe and China.

It is pertinent to consider that in a volatile global economy, we haven’t just conducted Monopolar electrosurgery market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.

In terms of production side, this report researches the Monopolar electrosurgery capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.

In terms of consumption side, this report focuses on the consumption of Monopolar electrosurgery by regions (countries) and application.

Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Monopolar electrosurgery market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2028. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.

With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Monopolar electrosurgery market companies.

Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Monopolar electrosurgery market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.

The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.

Overall, this is an in-depth research report specifically for the Monopolar electrosurgery industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.

Monopolar electrosurgery market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Monopolar electrosurgery market.

Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Monopolar electrosurgery market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.

Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Monopolar electrosurgery market. These factors have benefited the growth of the global market for Monopolar electrosurgery. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.

New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Monopolar electrosurgery. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).

In this study, the years considered to estimate the market size of Monopolar electrosurgery are as follows:

  • History Year: 2017-2020
  • Base Year: 2020
  • Forecast Year 2021 to 2028

Reasons to Purchase this Report:

- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players

Research Methodology:

In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.

This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.

Market Size Estimation

Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).

The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.

Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.

All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.

Market Breakdown and Data Triangulation

After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.

Secondary Sources

Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.

Primary Sources

 In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.

The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.

The study objectives of this report are:

  • To analyze and study the global market capacity, production, value, consumption, status (2017-2020) and forecast (2021-2028);
  • Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
  • Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
  • To define, describe and forecast the market by type, application and region.
  • To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
  • To identify significant trends and factors driving or inhibiting the market growth.
  • To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
  • To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
  • To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
  • To strategically profile the key players and comprehensively analyze their growth strategies.

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