Market Trends of Monopolar Electrosurgery Instrument Industry
This section covers the major market trends shaping the Monopolar Electrosurgery Instrument Market according to our research experts:
The Hand Instruments Segment Accounts for a Significant Share in the Market
The COVID-19 pandemic has affected many domains of healthcare due to the delay of elective surgeries and the prioritizing of emergency-only procedures. A global expert response study published in May 2020 estimated that nearly 28 million adult elective procedures were canceled or postponed during the 12 weeks of peak disruption. Furthermore, companies were similarly affected due to imposed lockdowns and delayed distribution channels.
A handpiece is used in conjunction with the generator for the passing of electric current to the surgical site. Due to the increasing technological advancements by companies in the hand instruments segment, the handpiece occupies a majority share compared to generators, return electrodes, and accessories. In January 2021, the FDA issued 510(k) clearance of the Apyx J-Plasma handpiece, which uses cold plasma technology. Such factors may push the competition and demand innovation in this segment.
Additionally, the growing adoption of minimally invasive surgeries, such as laparoscopy, may further contribute toward the growth of this segment. According to Eurostat, in 2018, more than half of the cholecystectomy procedures used laparoscopy. For instance, nearly 93% of procedures performed in the United Kingdom were laparoscopic cholecystectomy.
North America is Expected to Dominate the Monopolar Electrosurgery Instruments Market
The United States has experienced a huge impact due to COVID-19. The country's healthcare sector had to divert its services toward managing COVID-19 patients and vaccine development. Guiding committees and regulatory bodies released guidelines and recommendations to be followed for patients and physicians. Elective procedures had to be postponed, and only emergency procedures were given high importance. Recovery of these backlog procedures may begin slowly, considering the pandemic situation and the resurgence of the disease.
However, North America is expected to dominate the overall market compared to other regions during the forecast period. Through reference from companies' financial statements, North America holds the leading position in sales. For Medtronic, the United States represents nearly 50% of the net sales generated under the minimally invasive therapies group. Multinational companies across the world also prefer to expand to the region due to its favorable economic conditions and scope for innovation.
Furthermore, there is a rising patient population and increasing surgical procedures being performed in the region. Surgical instruments are used in various fields, such as cardiovascular, urology, orthopedic, cosmetic, and gynecology. Around 16.3 million minimally invasive cosmetic surgical procedures were performed in 2019, according to the American Society of Plastic Surgeons (ASPS). The growth in the number of surgical procedures performed may help North America maintain its position in the overall market.
