Monopolar Electrosurgery Sales to Gain US$ 3.1 Billion by 2031; Orthopedic Surgical Application is Poised to Gain Popularity: Fact.MR
FACT.MR
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FACT.MR
The monopolar electrosurgery market is expected to witness a CAGR of 4.5% during the forecast period. U.S will account for over 45% global revenue share.
Rockville, March 31, 2023 (GLOBE NEWSWIRE) -- The global market for monopolar electrosurgery is expanding gradually and is anticipated to increase at a 4.5% CAGR through 2031, surpassing a worth of about US$ 2 Billion by 2021.
By the end of 2031, the market is anticipated to reach US$ 3.1 billion. The industry is expected to grow 1.5 times overall between 2021 and 2031.
Laparoscopic surgeries for causes like prostatectomy, colorectal cancer surgery, hernia repair, and plastic surgery have increased dramatically since robotics were introduced. The market for monopolar electrosurgery is anticipated to reach US$ 2.5 billion by the end of 2026 and US$ 3.1 billion by the end of the forecast period, taking the aforementioned aspects into account (2021-2031).
Parent market analysis, market growth inducers and obstacles, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for the forecast period.
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The drivers for the monopolar electrosurgery market include:
The rising prevalence of chronic diseases such as cancer and cardiovascular diseases has increased the demand for surgical procedures, including electrosurgery. Monopolar electrosurgery is used in various surgical procedures for the treatment of chronic diseases, driving market growth.
The development of advanced monopolar electrosurgery devices with improved safety and efficacy has increased their adoption in various surgical procedures.
For instance, the development of electrosurgical generators with advanced control systems and safety features has improved the accuracy and precision of surgical procedures.
The increasing geriatric population worldwide has led to a rise in the number of surgeries, driving the demand for monopolar electrosurgery. As older adults are more likely to require surgical intervention for chronic diseases, the growing aging population is expected to boost market growth.
The growing healthcare expenditure in developed and developing countries has increased the adoption of advanced medical technologies, including monopolar electrosurgery. As healthcare systems invest in new and advanced medical technologies, the demand for monopolar electrosurgery is expected to increase.
The growing demand for minimally invasive surgeries has increased the adoption of monopolar electrosurgery. Monopolar electrosurgery is often used in minimally invasive surgeries as it allows for precise and accurate incisions, reducing the risk of complications and improving patient outcomes.
MarketTrends:
There is a growing trend towards minimally invasive surgeries, which has increased the demand for monopolar electrosurgery devices. Monopolar electrosurgery is often used in minimally invasive procedures due to its precision and accuracy.
The integration of AI and robotics in monopolar electrosurgery devices is a growing trend in the market. The use of AI and robotics can improve the accuracy and precision of surgical procedures, reducing the risk of complications and improving patient outcomes.
The development of advanced energy sources such as ultrasonic energy and plasma energy is a growing trend in the monopolar electrosurgery market. These energy sources offer advantages such as reduced tissue damage and faster recovery times, which can improve patient outcomes.
The increasing adoption of single-use devices is a growing trend in the monopolar electrosurgery market. Single-use devices reduce the risk of cross-contamination and infection, improving patient safety.
There is a growing demand for home healthcare devices, including monopolar electrosurgery devices. The use of home healthcare devices can improve patient comfort and convenience, reducing the need for hospitalization.
Some of the restraints for the monopolar electrosurgery market include:
The use of electrosurgery carries a risk of complications such as burns, tissue damage, and nerve damage. These risks can limit the adoption of monopolar electrosurgery, particularly in complex surgical procedures.
The high cost of monopolar electrosurgery devices can limit their adoption, particularly in developing countries where healthcare budgets are limited. The high cost of maintenance and repair of these devices can also be a barrier to their adoption.
The stringent regulatory framework governing medical devices has been limiting the adoption of monopolar electrosurgery. The regulatory approval process for medical devices can be time-consuming and costly, which can limit the availability of new and advanced monopolar electrosurgery devices.
Competitive Landscape: The monopolar electrosurgery market is highly competitive, with several global and regional players operating in the market. Key companies are focusing on product launches and acquisitions to maintain a notable share.
One of the notable product launches in the medical device industry was the launch of the XACT ACE Robotic System by XACT Robotics in February 2021.
The XACT ACE Robotic System is a robotic needle steering system that enables precise needle placement during minimally invasive procedures, such as biopsies and ablation.
Key Questions Covered in the MonopolarElectrosurgery Market Report
What will be the estimated size of the Market in 2023?
At what rate will the global Monopolar Electrosurgery sales grow until 2031?
Which are the factors hampering the Monopolar Electrosurgery demand?
Which region will spearhead the growth in the global industry by 2031?
Which are the factors driving sales in the Monopolar Electrosurgery Market during the forecast period?
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Non-invasive Surgery Market Analysis: Owing to the rising prevalence of cardiovascular diseases, globally, non-invasive cardiology has become the most sought-after therapeutic application. Analysis of the non-invasive surgery market by end users reveals that hospitals will continue to hold the maximum share in global market revenue in the near future.
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