Laparoscopic Electrodes Market Size is set to register an appreciable CAGR between 2022 and 2028. This rise is credited to the multiple benefits offered by these products comprising extended insulation for greater safety, cost-effective nature, reduction of smoke in the operative field, and the reduction of eschar build-up. Different types of laparoscopic electrodes available on the market include straight spatula electrode, curved spatula electrode, L-hook electrode, J hook electrode, and others.
The rising demand for laparoscopic surgeries for diagnostic procedures as well as general surgeries is expected to boost market expansion in the coming years. Pediatric laparoscopic surgery is generally performed for helping in the diagnosis of a problem in the urinary tract.
By type, the monopolar electrode segment is anticipated to account for a commendable share in the laparoscopic electrodes market through 2028 owing to numerous advantages such as robust ceramic tips, rapid exchange of individual components, and ease-of-handling. Other features contributing towards segmental expansion include the presence of dissection spatula, dissection hook, high-quality insulation, right-angled dissection hook, and needle electrode versions.
On the basis of application, the laparoscopic electrodes market is slated to record substantial growth from the endoscopy segment over the forecast period. This is due to the advantages of flexibility and the efficient diagnosis of hollow cavity or organ of the patient’s body. The growing use of laparoscopic electrodes in numerous endoscopic procedures is further attributed to a range of technological and design improvements. The segment growth is propelled by the soaring demand for minimally invasive surgeries over the estimated period.
Based on end-use, the hospitals segment is expected to depict a commendable CAGR by 2028 impelled by the availability of skilled healthcare professionals that are capable of deploying laparoscopic electrodes. The segment expansion is impelled by the presence of state-of-the-art facilities and rising government financing in developing nations for the development of healthcare infrastructure.
Considering the regional perspective, the North America laparoscopic electrodes market share is estimated to register considerable growth through 2028 given the increasing product developments by industry players across the region. Citing an instance, Olympus Canada provides an entire range of laparoscopic equipment from innovative therapeutic devices and state-of-the-art imaging equipment to entirely integrated operating room solutions.
Prominent players in the laparoscopic electrodes industry include Bharat Surgical Co, B. Braun, Medtronic, Erbe, Bovie Medical, and others. These players are keen on the adoption of strategic initiatives such as mergers, acquisitions, product developments, partnerships, and collaborations for the expansion of their geographical footprint and increasing product penetration across various regions.
For instance, in August 2021, Encision Inc., a medical device company owning patented AEM (Active Electrode Monitoring) Technology, inked a supply agreement with Auris Health, Inc. During the initial three years of the deal, Auris has agreed to purchase certain AEM Technology enabled products exclusively from Encision.
The SARS-CoV-2 pandemic has led to an increase in studies regarding the potential transmission of the virus during laparoscopy procedures. According to one such study, aerosols produced during laparoscopy procedures do not arise from the respiratory tract and, therefore, the risk of transmission via this route is considered to be low.
This has led to a constant demand for laparoscopic electrodes given the minimal risk of transmission of SARS-CoV-2 virus during the performance of these surgeries.
Market by Product
Market by Operability
Market by End-Use
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