The Global Laparoscopic Electrodes Market is driven by growing number of laparoscopic surgeries
The global laparoscopic electrodes market has witnessed steady growth over the past few years owing to the increasing adoption of minimally invasive surgical procedures worldwide. Laparoscopic surgeries offer various advantages over traditional open surgeries such as reduced post-operation recovery time, minimal scarring and blood loss, and shorter hospital stay. This has boosted the adoption of laparoscopic techniques across various therapeutic areas like bariatric, gynaecological, urological and general surgeries. Laparoscopic electrodes are essential accessories used in energy-based procedures to cut, coagulate or ablate tissue during minimally invasive surgeries. Various types of electrodes like monopolar, bipolar and microwave are available with differing specifications to suit the requirements of different surgical specialties.
The Global Laparoscopic Electrodes Market is estimated to be valued at US$ 261.8 MN in 2024 and is expected to exhibit a CAGR of 7.3% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the Global Laparoscopic Electrodes Market Size are Medtronic, B. Braun, REGER Medizintechnik GmbH, BOWA-electronic GmbH & Co. KG, Zhejiang Geyi Medical Instrument Co.,Ltd, CONMED Corporation, Olympus Corporation, Ethicon US, LLC., Millennium Surgical Corp, Ackermann Instrumente GmbH, GeoSurgical, LiNA Medical ApS, Cook and Premier Inc. The rising preference for minimally invasive procedures and growth in bariatric and colorectal surgeries are some of the key factors responsible for the growing demand for laparoscopic electrodes globally. More than 1.5 million laparoscopic procedures are performed annually in the US alone. With growing awareness about the benefits of minimally invasive techniques, the demand for laparoscopic surgeries is expanding to developing regions of Asia Pacific, Latin America and the Middle East & Africa, which will further propel the market growth of laparoscopic electrodes over the forecast period.
Market drivers
Increasing geriatric population worldwide is a major driver augmenting the growth of the global laparoscopic electrodes market. Older people usually suffer from various comorbidities that require surgical intervention. Laparoscopy allows them to undergo such procedures safely due to benefits like lesser trauma, reduced blood loss and quick recovery time. Additionally, improving reimbursement policies and rising awareness about minimally invasive techniques are also fueling the uptake of laparoscopic surgeries, thereby boosting demand for laparoscopic electrodes across hospitals and surgical centers globally.
The current geopolitical situation is impacting the growth of the global laparoscopic electrodes market. Rising geopolitical tensions and economic volatility have made businesses more cautious with their investment decisions. Companies in the laparoscopic electrodes market are facing challenges in terms of supply chain disruptions and currency fluctuations due to the ongoing conflicts and sanctions.
In the forecast period from 2024 to 2031, manufacturers need to closely monitor the geopolitical developments and devise appropriate strategies. Diversifying manufacturing footprint and establishing multiple regional supply chains can help mitigate risks arising from trade barriers and supply constraints. Companies also need to invest in advanced technologies like 3D printing to make local production feasible. Entering into strategic partnerships with local firms can aid business continuity. With constant geopolitical changes, having a flexible business model is critical for sustained growth of the laparoscopic electrodes market
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