Laparoscopic Electrodes Market Worth $408.20 Million By 2030 | CAGR 6.5%

May 2022 | Report Format: Electronic (PDF)

Laparoscopic Electrodes Market Growth & Trends

The global laparoscopic electrodes market size is anticipated to reach USD 408.20 million by 2030, according to a new report by Grand View Research, Inc., registering a CAGR of 6.5% over the forecast period. The primary growth-driving factors for the market growth include the adoption of minimally invasive surgeries along with the high usage of these devices in the diagnosis of several chronic disorders including cancer and others. The outbreak of the COVID-19 pandemic in the year 2020 had a negative impact on the market as the majority of elective laparoscopy surgeries were postponed to free-up limited space in healthcare settings to treat COVID-19 patients.

However, the European Society for Gynecological Endoscopy and the American Association of Gynecologic Laparoscopists issued guidelines to continue performing minimally/non-invasive surgeries with the adoption of specific care measures in case of emergency. In addition, the reduction in the COVID-19 impact and increase in medical device supplies across countries may collectively propel the market growth over the forecast period. An increase in the demand for minimally invasive surgeries is likely to boost the growth of the market during the forecast period.

This can be attributed to the increasing number of obese patients worldwide and the growth in the geriatric population. According to the American Society of Nephrology, urologic diseases are the third-most common concern among the geriatric population, and these account for approximately 47% of the physician visits. Minimally invasive surgeries have faster recovery time and are less time-consuming, and they attract a lot of consumer attention, hence rapid adoption of these surgeries is driving the market.

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Laparoscopic Electrodes Market Report Highlights

The monopolar electrodes segment accounted for the largest market share in 2021 owing to high demand as these electrodes offer precision control on coagulation and provide ease to the surgeon while performing surgery
Based on applications, the other surgeries segment dominated the market in 2021. Other surgeries mainly include cholecystectomy, colon, and prostrate laparoscopy due to constant innovation being employed to boost its success rate
Based on end-users, the hospital segment accounted for the largest revenue share in 2021 due to a rise in the number of patients suffering from various chronic ailments and the consequent rise in surgical procedures
Asia Pacific is estimated to be the fastest-growing regional market from 2022 to 2030 due to the growing volumes of surgical procedures