Press release
Rising Demand For Better Healthcare Facilities Is Influencing Domestic Players To Work Innovatively On Monopolar Electrosurgery Market
Market SnapshotGlobal monopolar electrosurgery market is gaining traction steadily and is expected to ascend at around 4.5% CAGR through 2031, exceeding a valuation of around US$ 2 Bn by 2021. The market is projected to reach US$ 3.1 Bn by the end of 2031. Overall, the industry is slated to expand 1.5x across the 2021-2031 forecast period.
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Demand Analysis of the Monopolar Electrosurgery of 2016-2020 Vs Market Outlook for 2021 to 2031
As per Fact.MR – market research and competitive intelligence provider, during the historic period of 2016 to 2020, the market expanded at a CAGR of 4%, on the back of rising innovations in surgical procedures and an increased preference for minimally invasive surgical procedures to reduce patient trauma.
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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. Considering the aforementioned factors, the market for monopolar electrosurgery is projected to touch US$ 2.5 Bn by the end of 2026 and US$ 3.1 Bn by the end of the forecast period (2021-2031).
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How will Innovations Pave the Way for Future Developments in Monopolar Electrosurgery?
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 November 2021, Max Super Specialty Hospital announced the launch of Da Vinci Xi Surgical Robot at the hospitals for performing robotic-assisted minimally invasive surgeries. Da Vinci Xi Surgical Robot enables surgeons to perform complex surgeries with increased precision and flexibility under various disciplines. With this advanced technology, the surgeons can perform surgeries by using instruments that they can guide via a console.
Furthermore, in April 2021, Genesis MedTech entered a strategic distribution agreement with LivsMed, for the sales and distribution of the ArtiSential™ line of products for the Chinese and Singapore market. The ArtiSential™ line is a revolutionary series of articulating laparoscopic instruments designed to provide the user with fully articulating, wristed motion during laparoscopic surgery.
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How are Government Initiatives Widening the Access to Elective Surgery?
Various governments across the world have been actively supporting and accepting elective surgeries. Major investments are being made in order to grant easy access to patients opting for these surgeries. In addition to this, a rise in the incidence of chronic diseases along with the expansion in the number of people undergoing surgeries is boosting the market growth. This is due to the financial and technological pressure being imposed on the health care systems of countries across the globe exerting financial and technological pressure on health care systems across the world. To deal with this, governments are issuing various policies to improve their healthcare facilities.
For instance, President Joe Biden’s healthcare plan will insure more than 97% of Americans owing to the introduction of a Medicare-like public option for Individuals and Families. His plan also includes strengthening the Affordable Care Act (ACA) by increasing marketplace subsidies. This is expected to drive demand for monopolar electrosurgery devices during the forecast period.
Key Segments Covered
Product
Hand Monopolar Electrosurgery Instruments
Electrosurgical Pencils
Monopolar Forceps
Monopolar Electrodes
Monopolar Electrosurgical Generators
Monopolar Return Electrode
Single Use
Re-usable
Monopolar Electrosurgery Accessories
Footswitches
Connectors
Others
Application
Monopolar General Electrosurgery
Monopolar Gynecology Electrosurgery
Monopolar Cardiovascular Electrosurgery
Monopolar Cosmetic Electrosurgery
Monopolar Orthopedic Electrosurgery
Monopolar Urology Electrosurgery
Monopolar Electrosurgery for Other Applications
End User
Monopolar Electrosurgery across Hospitals
Monopolar Electrosurgery across Ambulatory Surgery Centers
Monopolar Electrosurgery for Other End Users
Competitive Landscape
The competitive landscape of the monopolar electrosurgery market is shaped by product innovation and strategic mergers & acquisitions. Front Runners are emphasizing capacity enhancements and global footprint expansion to leverage lucrative prospects in developing economies. Some notable developments are as follows:
In September 2021, Olympus Corporation announced the launch of the first devices in the new POWERSEALTM family of advanced bipolar surgical energy products. The POWERSEAL 5mm Curved Jaw Tissue Sealer and Divider, Double-Action devices meet the highest standards of clinical performance for advanced bipolar surgical energy devices by delivering consistent sealing reliability in an ergonomic, multifunctional design that promotes procedural efficiency.
In September 2020, Ethicon announced the launch of ECHELON ENDOPATH Staple Line Reinforcement (SLR), a novel buttressing device designed to further strengthen staple lines and reduce potential complications during bariatric, thoracic and general surgical procedures.
For More Insights- https://www.einpresswire.com/article/556506843/growing-of-polyurethane-structural-insulated-panels-is-projected-to-take-demand-growth-at-5-cagr-over-the-next-10-years
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