Global demand for laparoscopic electrodes market was valued at approximately USD 198.7 million in 2018 and is expected to generate revenue of around USD 331.3 million by end of 2025, growing at a CAGR of around 7.6% between 2019 and 2025.
Laparoscopic Electrodes Market
The report covers forecast and analysis for the laparoscopic electrodes market on a global and regional level. The study provides historic data from 2015 to 2018 along with a forecast from 2019 to 2025 based on revenue (USD Million). The study includes drivers and restraints for the laparoscopic electrodes market along with the impact they have on the demand over the forecast period.
As per the report, the global demand for laparoscopic electrodes market was valued at approximately USD 198.7 million in 2018 and is expected to generate revenue of around USD 331.3 million by end of 2025, growing at a CAGR of around 7.6% between 2019 and 2025.
Global demand for laparoscopic electrode market is increasing due to rising prevalence of colorectal cancer. According to the reports of the World Health Organization, more than around 1.8 million new cases of colorectal cancer were found in 2018. Due to smaller incision made during laparoscopic surgery, it has numerous advantages like low pain, less blood loss, and faster recovery. Moreover, growing elderly population, rising consumable disposable income, significant rise in geriatric population, increasing awareness among people, and active role of distribution channels are estimated to drive the market. Technological advancements and increasing health care infrastructure in developing countries also contribute majorly for the growth of laparoscopic electrode market in the coming future. However, increasing preference for robotic surgeries and a dearth of trained professionals are some factors which will restrain the growth of laparoscopic electrodes market in the coming future.
Based on type, laparoscopic electrodes market is segmented into monopolar, bipolar, and others. Among them, monopolar segment dominated the market in 2018. It provides ease to the surgeon while performing surgery. Surveys indicate that about 90% of doctors prefer monopolar type as compared to bipolar type; it is used most commonly due to its versatility and effectiveness.
Based on application, laparoscopic electrodes market is segmented into surgery, endoscopy, and others. Endoscopy segment dominated this segment as it provides flexibility to examine the interior of hollow organ or cavity of the patient’s body. Also, technological advancements, rise in hospital infrastructure, growing disposable incomes are some other factors which are driving this segment.
Based on end users the global laparoscopic electrodes market is bifurcated into hospitals, ambulatory surgical centers, and specialty clinics. Among the end-user segment, hospitals dominated the market due to advancements in the hospital infrastructure and growing chronic diseases like colorectal cancer.
North America dominated global laparoscopic electrodes market by accounting highest market share all over the globe. Developed health care facilities and growing chronic diseases like colorectal cancer, high health care spending, and increasing number of surgeries favor the market growth in this region. In 2018, the U.S dominated the market due to high prevalence of colorectal cancer. Asia Pacific emerged as the fastest growing region in global laparoscopic electrodes market. Growing population, rising consumable disposable income, and growing hospital infrastructure will drive the market. Emerging economies like India and China are expected to contribute largely due to huge untapped market in this region. Growing demand for technologically advancement and growing role of distribution channels are some of the major factors driving the demand for laparoscopic electrodes market in Europe.
Some of the key players in laparoscopic electrodes market are B.Braun, LaproSurge, Medtronic, Unimax Medical, Bovie Medical, Lagis Endosurgical, Erbe, and Bharat Surgical Co.
Global Laparoscopic Electrodes Market: Type Segment Analysis
Global Laparoscopic Electrodes Market: Application Segment Analysis
Global Laparoscopic Electrodes Market: End-User Segment Analysis
Global Laparoscopic electrodes Market: Regional Segment Analysis