Laparoscopic Electrodes Market Size, Share & Trends Analysis Report By Product (Monopolar Electrodes, Bipolar Electrodes), By Applications (Bariatric Surgery, Urological Surgery, Gynecological Surgery, General Surgery, Colorectal Surgery), By End-User (Hospital, Clinic, Ambulatory) and By Region(North America, Europe, APAC, Middle East and Africa, LATAM) Forecasts, 2022-2030

Market Overview

The global laparoscopic electrodes market was valued at USD 230.8 million in 2021. It is projected to reach USD 449.21 million by 2030, growing at a CAGR of 7.68% during the forecast period (2022–2030).

Laparoscopic electrodes are frequently used during minimally invasive procedures all over the world. These 33 cm long electrodes are compatible with standard electrosurgical pencils and are made of superior insulation materials. Each electrode has 4 mm active cables and a 4 mm shaft adaptor.

These electrodes have a stainless-steel finish and come in various shapes, reducing the risk of harm from electrosurgical procedures. When reprocessing and sterilizing reusable devices, the insulating materials reduce the risk of damage and are well-known for having minor cuts and a coating that prevents coagulation during surgery. The prevalence of bariatric procedures to reduce stomach size, the rising number of obese people worldwide, and the product's widespread use in diagnosing many chronic and internal illnesses, including colorectal cancer and other gynecological disorders, have all contributed to the growth.

Market Dynamics

Global Laparoscopic Electrodes Market Drivers

• Rising Demand for Minimal Invasive Surgeries

The market benefits from increased demand for minimally invasive surgeries because there is a large patient pool due to the aging population and rising incidence of chronic diseases. The benefits that minimally invasive surgeries offer patients and medical staff are helping them gain popularity. As a result, there is a shift in patient preference towards minimally invasive surgeries due to minor incisions, less pain, tissue damage, prevention of surgical scars, and rapid recovery. The advantages of laparoscopic surgery, such as minor complications in rare cases, less pain, and lower surgery costs, will likely stimulate market growth. Electrodes are utilized during laparoscopic surgery, which provides a safer alternative to open surgery.

• Growing Prevalence of Cancer

According to a WHO report, cancer accounts for roughly 70% of fatalities in low- and middle-income countries. Poor dietary habits, altering lifestyles, an increase in smoking, genetic mutation, alcohol and hormone consumption, and urban air pollution are frequent contributors to the worldwide increase in cancer cases. Colorectal cancer (CRC) is the third most prevalent cancer globally, affecting 1.36 million people, or nearly 10 percent of all cancers. The growth of the laparoscopic electrodes market will be significantly clarified by the increasing incidences of several types of lower abdominal cancer.

Global Laparoscopic Electrodes Market Restraint

• Surgical Errors During Procedures

Direct coupling, insulation failures, and capacitive coupling around active electrodes may cause severe burns and tissue damage in laparoscopically operating patients. If perioperative nurses and surgeons work together as a coordinated team, laparoscopic electrosurgical procedures are performed without potentially fatal complications. These Surgical mistakes and difficulties can impede the market's expansion. Laparoscopically treated patients will receive high-quality care from experienced surgical team members, reducing the probability of errors.

Regional Analysis

The global laparoscopic electrodes market is segmented into four regions, namely North America, Europe, Asia-Pacific, and LAMEA.

North America held the most significant global revenue share. Increasing reliance on laparoscopic procedures instead of open procedures is a significant market driver. In addition, innovation-related competition among major players will affect the market. Surgeons prefer laparoscopy over more conventional surgical techniques due to its quick recovery time and successful outcomes. Rising healthcare costs in the US may encourage new and long-standing rivals to enter the market.

Segmental Analysis

The global laparoscopic electrodes market is segmented by product, application, and end-user.

Based on the product

the market is bifurcated into monopolar and bipolar electrodes.

The monopolar electrodes segment held the largest market share and is expected to grow during the forecast period. Significant factors driving the segment's growth include the rising preference for minimally invasive procedures, laparoscopic surgeons' adoption of monopolar electrosurgery instruments, and the high prevalence of chronic diseases. Electrodes play a crucial role in electrosurgical procedures. Various types of these electrodes are used depending on factors like the surgical goal and the tissues involved.

Based on application

the market is segmented into bariatric surgery, urological surgery, gynecological surgery, general surgery, colorectal surgery, and other surgeries.

The other surgeries segment dominated the market, generating the highest proportion of global revenue. The most common procedures are cholecystectomy laparoscopy, appendectomy laparoscopy, thoracic laparoscopy, colon laparoscopy, and prostrate laparoscopy. Laparoscopy of the colon, for instance, is anticipated to increase steadily due to ongoing efforts to increase its success rate.

Based on end-user

the market is categorized into hospitals, clinics, and ambulatory.

The hospital segment dominates the global laparoscopic electrodes market. Increased patients with chronic diseases and increased surgical procedures are the leading causes of this segment's growth. Hospitals see more patients undergoing bariatric surgery or other laparoscopic procedures than other healthcare settings. Hospitals are better equipped to handle any complications that may arise during surgical procedures and offer various treatment options.

Impact of covid-19

COVID-19 has positive and negative market consequences, as carbon emissions have decreased globally due to the lockout. COVID-19's reduction in emissions is a short-term benefit. Still, when industries and enterprises attempt to recoup some of their financial losses in the first quarter of the year, carbon emissions will rise dramatically. COVID-19 had a negative impact on global recycling efforts. Countries, notably the United States, have halted or decreased recycling programs to focus on collecting additional domestic waste or because services have been disrupted by the virus.

Also, with industries slowly returning to normalcy following the COVID-19 outbreak, this shift in workplace health and safety is expected to increase due to mandatory social distancing and continuous personal care through sanitization to eliminate even the tiniest possibility of COVID-19 spread. COVID-19 has impacted various companies' revenues, and if the lockdown is lifted, companies will turn their attention to operations to make up for their losses.

Recent Developments

• April 2022- Medtronic and GE Healthcare announced a collaboration to meet the growing need for outpatient care. Medtronic and GE Healthcare announced a collaboration focused on the unique needs and demand for care at Ambulatory Surgery Centers (ASCs) and Office-Based Labs (OBLs). Under this new collaboration, customers can access extensive product portfolios, financial solutions, and exceptional service.
• June 2022- CONMED Completed Acquisition of In2Bones Global, Inc. In2Bones is a global developer, manufacturer, and distributor of medical devices for treating disorders and injuries of the upper (hand, wrist, elbow) and lower (foot and ankle) extremities. The company's comprehensive product portfolio includes implants, fracture systems, biologics, and related hardware. In2Bones is a global developer, manufacturer, and distributor of medical devices for treating disorders and injuries of the upper (hand, wrist, elbow) and lower (foot and ankle) extremities.