Monopolar Electrosurgery Market

Monopolar Electrosurgery Market Growth Outlook

Global 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 Billion by 2021.

The market is projected to reach US$ 3.1 Billion by the end of 2031. Overall, the industry is slated to expand 1.5x across the 2021-2031 forecast period.

Market Analysis	Values
Market Size in 2021	US$ 2 Billion
Projected Market Forecast Value by 2031	US$ 3.1 Bn
Value CAGR (2021-2031)	4.5%
Market Share of U.S	45%

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.

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 Billion by the end of 2026 and US$ 3.1 Billion by the end of the forecast period (2021-2031).

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. 

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.

Country-Wise Analysis

How is the Market for Monopolar Electrosurgery Faring in India?

The market for monopolar electrosurgery is projected to show a positive growth rate in India owing to the growing focus of the government on enhancing the health care facilities, growing incidence of cancer, government initiatives, and increasing awareness among people concerning the advantages of elective surgery.

In its budget for 2021-22, the Union Finance Minister of India announced an increase in the allocation for healthcare by 137 percent to Rs. 2.23 lakh crore (Rs. 2,23,846 crore) from the previous year's budget estimate of over Rs. 94,000 crore and by 118 percent from the previous year’s revised budget of over Rs. 1.02 lakh crore (Rs. 1,02,873 crore). 

Rising demand for better healthcare facilities is influencing domestic players to work innovatively on monopolar electrosurgery in developing countries such as India. A revenue share worth 35% is projected for the market in India across the forthcoming decade.

What Factors are Fueling Monopolar Electrosurgery across the U.S?

The U.S is anticipated to retain market hegemony during the forecast period. Significant average selling prices of monopolar electrosurgery instruments, the greater demand from surgeons for advanced minimally invasive surgical devices, and favorable reimbursement coverage for surgical procedures are poised to help the country retain its leading position in the global market.

Furthermore, an increase in the number of approvals for new devices from the U.S. FDA is anticipated to fuel growth prospects of the monopolar electrosurgery market. The market is projected to bolster owing to the strong presence of leading market players, high prevalence of lifestyle disorders, ongoing modernization and expansion of healthcare infrastructure.

The mission of the U.S. Department of Health and Human Services (HHS) is to enhance and protect the health and well-being of all Americans by providing for effective health and human services and by fostering sound, sustained advances in the sciences underlying medicine, public health, and social services. Based on these trends, Fact.MR projects the U.S market to account for over 45% revenue until 2031.

Category-Wise Insights

Why are Hand Monopolar Electrosurgery Instruments in High Demand?

According to Fact.MR, hand instruments remain the bestselling category among monopolar electrosurgery products. The affordability of disposable hand instruments is a key growth driver of their sales, which are anticipated to capture more than 60% share of the overall market.

Hand monopolar electrosurgery instruments offer the distinct advantage of being highly portable, given their small size. Hence, regulatory authorities are granting approvals to key products. In 2019, Apyx Medical Corporation received the 510(k) clearance for its Apyx Plasma/RF Handpiece of its Renuvion product family by the U.S Food & Drug Administration.

Which Surgical Application is Poised to Gain Popularity?

Application in orthopedic surgeries is poised to soar in popularity, attributed to the increasing geriatric population pool and cases of osteoarthritis. Growing at a CAGR of 4.7%, orthopedic surgery, as a key application area, is expected to contribute nearly 1/5th share to the total market value over the forecast period.

In addition to this, rising application in general surgeries will continue to influence the growth strategies of market players, capturing 25% of total market revenue. The high prevalence of lifestyle and chronic ailments is the key factor responsible for increased demand for monopolar electrosurgery for application in general surgery.

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. 

Monopolar Electrosurgery Market Report Scope 

Report Attributes	Details
Forecast Period	2021-2031
Historical Data Available for	2016-2020
Key Regions Covered	North America Latin America Europe East Asia South Asia Oceania Middle East & Africa
Key Market Segments Covered	Product type Application End Users Region
Key Companies Profiled	CONMED Corporation BOVIE MEDICAL Medtronic Ethicon, Inc. Olympus Corporation BOWA-electronic GmbH & Co. KG Erbe Elektromedizin GmbH Aesculap AG (B. Braun Melsungen AG) Meyer-Haake GmbH

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

  • General Electrosurgery
  • Gynecology Electrosurgery
  • Cardiovascular Electrosurgery
  • Cosmetic Electrosurgery
  • Orthopedic Electrosurgery
  • Urology Electrosurgery
  • Other Applications

• End User

  • Hospitals
  • Ambulatory Surgery Centers
  • Other End Users