The global monopolar electrosurgery instrument market size is estimated to be valued at USD 1.6 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 4.2% from 2021 to 2027. Increasing preference for minimally invasive surgeries, rising adoption of monopolar electrosurgery instrument by laparoscopic surgeons, and increasing prevalence of chronic conditions are some of the major factors driving the market.
Minimally invasive surgeries help in minimizing post-surgical complications, offer faster recovery and lower readmittance rates, thus reducing overall treatment cost. A study in The Journal of the American Medical Association stated that open surgery requires an average hospital stay of 7.4 days, while the hospital stays for laparoscopic and thoracoscopic surgeries is for 4.5 days. The study further stated that the total cost of care for minimally invasive surgeries was 23.0% less than open surgery. According to the researchers at Johns Hopkins, preventing post-surgical complications saved about USD 300 million annually by opting for minimally invasive procedures.
The hand instrument segment dominated the market for monopolar electrosurgery instrument and accounted for the largest revenue share of 34.1% in 2019. Frequent introduction of innovative monopolar hand instrument by key market players has augmented the growth of the market for monopolar electrosurgery instrument. In October 2019, Apyx Medical Corporation received the U.S. FDA approval to market Apyx Plasma/RF Handpiece, a single-use monopolar device. The device is an addition to the Renuvion product portfolio.
The generator segment is expected to register the fastest growth rate over the forecast period. This can be attributed to the increasing reliance of professionals to perform advanced therapeutic procedures and product launches. The generators supply high-frequency electric current required for the functioning of endoscopic devices. Additionally, the devices offer features that enhance patient safety and ease of use. In May 2018, Olympus launched the ESG-300 electrosurgery generator for GI and pulmonary devices.
The hospital segment dominated the market for monopolar electrosurgery instrument and accounted for the largest revenue share of 40.5% in 2019. This can be attributed to the increasing adoption of technologically advanced products, patient awareness, and increasing focus on positive medical outcomes. Also, the medical settings are adopting minimally invasive procedures to reduce post-operative complications and accelerate the recovery rate.
The ambulatory surgical centers segment dominated the market for monopolar electrosurgery instrument and is expected to register the highest growth rate during the forecast period. This can be attributable to affordable surgical procedures, limited hospital stays, and higher convenience for the geriatric population. According to the figures stated by the Medpac, the total number of ambulatory surgical centers increased by 2.4 percent in 2017, accounting for 5,603 ASCs in 2017.
The general surgery segment dominated the market for monopolar electrosurgery instrument and accounted for the largest revenue share of 34.5% in 2019. Continuous increase in the geriatric population has resulted in a drastic increase in surgical procedures. According to the World Health Organization, an estimated 900.0 million people aged 60 and above were registered in 2015 globally, while the number is expected to escalate to 2 billion by 2050. According to the National Council of Aging, approximately 78.5% of older adults have at least two chronic diseases.
The cardiovascular surgery segment is expected to account for the highest growth rate over the forecast period. The novel monopolar devices prevent electrosurgical burns in minimally invasive surgeries and enhance surgical performance by reducing procedural complexities.
North America dominated the market for monopolar electrosurgery instrument and accounted for the largest revenue share of 43.4% in 2019. The segment is expected to continue its dominance over the forecast period. Regionally, the market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. This dominance is attributed to increasing chronic diseases, developed healthcare infrastructure, and high per capita expenditure. Increasing incidence of chronic diseases and rising awareness related to the advantages of electrosurgical devices is expected to fuel the growth of the market for monopolar electrosurgery instrument in the region. In May 2018, the US FDA released a safety communication to minimize the risks and dangers associated with monopolar surgeries, such as electrosurgical burns and patient injury.
In Asia Pacific, the monopolar electrosurgery instrument market is expected to grow at a lucrative rate over the forecast period. High growth rate is attributed to the rise in cardiovascular diseases and the growing geriatric population. However, scarcity of skilled professionals and low awareness is the factor impeding the growth of the market for monopolar electrosurgery instrument in the region.
The market for monopolar electrosurgery instrument is highly fragmented with the presence of various large, medium, and small-scale vendors. Product launch, strategic acquisitions, and innovation are the major strategies adopted by the market players to retain their market share. Some of the prominent players in the monopolar electrosurgery instrument market include:
B. Braun Melsungen AG
Apyx Medical Corporation
Johnson & Johnson
Stingray Surgical Products, LLC
Market size value in 2020
USD 1.6 billion
Revenue forecast in 2027
USD 3.0 billion
CAGR of 4.2% from 2021 to 2027
Base year for estimation
2016 - 2019
Revenue in USD million and CAGR from 2021 to 2027
Revenue forecast, company share, competitive landscape, growth factors, and trends
Type, application, end use, region
North America; Europe; Asia Pacific; Latin America; Middle East & Africa
U.S.; Canada; U.K.; Germany; France; Italy; Spain; Japan; China; India; South Korea; Australia; Brazil; Mexico; Argentina; Colombia; South Africa; Saudi Arabia; UAE
Key companies profiled
Conmed; Olympus Corporation; Medtronic Plc; KLS Martin; B. Braun Melsungen AG; Stryker; Apyx Medical Corporation; Johnson & Johnson; Integra LifeSciences; Stingray Surgical Products, LLC; Surgical Holdings
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This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2027. For the purpose of this study, Grand View Research has segmented the monopolar electrosurgery instrument market report based on type, application, end-use, and region:
Type Outlook (Revenue, USD Million, 2016 - 2027)
Application Outlook (Revenue, USD Million, 2016 - 2027)
End-use Outlook (Revenue, USD Million, 2016 - 2027)
Ambulatory surgical centers
Regional Outlook (Revenue, USD Million, 2016 - 2027)
Middle East & Africa
b. The global monopolar electrosurgery instrument market size was estimated at USD 2,217.2 million in 2019 and is expected to reach USD 1,654.5 million in 2020.
b. The global monopolar electrosurgery instrument market is expected to grow at a compound annual growth rate of 4.2% from 2021 to 2027 to reach USD 2,973.8 million by 2027.
b. North America dominated the monopolar electrosurgery instrument market with a share of 43.4% in 2019. This is attributable to the increasing chronic diseases, developed healthcare infrastructure, and high per capita expenditure.
b. Key players operating the monopolar electrosurgery instrument market include Conmed, Apyx Medical Corporation, Olympus Corporation, Medtronic Plc, Stryker, B. Braun Melsungen AG, Johnson & Johnson, Integra LifeSciences, KLS Martin, Stingray Surgical Products, Inc., and Surgical Holdings.
b. Key factors driving the market growth include increasing preference for minimally invasive surgeries, rising adoption of monopolar electrosurgery instruments by laparoscopic surgeons, and increasing prevalence of chronic conditions.
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