GLOBAL LAPAROSCOPIC ELECTRODES MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

The global laparoscopic electrodes market was valued US$ 261.8 Mn in 2023 and is expected to reach US$ 434.8 Mn by 2031 growing at a compound annual growth rate (CAGR) of 6.5% from 2024 to 2031.

Laparoscopic electrodes are medical devices that are used as active electrodes during laparoscopic surgeries. They help conduct high-frequency electric currents to cut, coagulate, or desiccate tissue with minimal blood loss during minimally invasive surgical procedures.

Global Laparoscopic Electrodes Market - Regional Insights

• North America is expected to be the largest market for laparoscopic electrodes during the forecast period, accounting for over 43.7% of the market share in 2023. North America has been the dominant region in the global laparoscopic electrodes market owing to several factors. The region has a large and developed healthcare sector with a high focus on adopting advanced medical technologies. Several major players in laparoscopic device manufacturing are headquartered in countries like the U.S., which has given early access and familiarity to laparoscopic procedures in this region. With the presence of major players and high awareness, there has been a significant preference for minimally invasive surgeries in the region, driving the demand for associated devices like laparoscopic electrodes. The pricing of these devices is also competitive in North America due to the heavy focus of players catering to this large and important market.
• Asia Pacific market is expected to be the second-largest market for laparoscopic electrodes, accounting for over 25.2% of the market share in 2023. Asia Pacific region has emerged as the fastest-growing regional market for laparoscopic electrodes in recent years. Countries like China, India, and Japan have witnessed an increase in laparoscopic procedures being carried out, driven by growing healthcare infrastructure as well as government support in these countries for advanced medical treatments. This has boosted the awareness and adoption of laparoscopic surgeries, which is benefiting the associated device markets. In addition, factors like growing medical tourism in some Asia Pacific countries are supporting the increase in complex surgeries in the region. This has made laparoscopic electrodes increasingly available at competitive prices in Asia Pacific.

Figure 1. Global Laparoscopic Electrodes Market Share (%), By Region, 2023

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Analyst View:

The laparoscopic electrodes market is expected to experience moderate growth in the coming years. Key drivers contributing to the growth include the increasing adoption of minimally invasive surgeries and the rising prevalence of gastrointestinal diseases. Laparoscopic procedures reduce recovery time and have fewer complications compared to open surgeries, which is expected to drive their increased uptake. However, budgetary constraints faced by healthcare systems in developing economies may restrain market growth.

Global Laparoscopic Electrodes Market- Drivers

• Growing applications of energy-based surgical devices: The growing adoption of advanced energy-based surgical devices in laparoscopy is expected to drive the market growth. Traditional laparoscopic tools rely on mechanical actions for procedures such as cutting and grasping tissue. However, energy-based surgical instruments, which utilize various energy modalities like radiofrequency, ultrasonic, and microwave, are gaining more popularity. Energy-based devices offer advantages like more precise dissection and sealing of blood vessels with less collateral tissue damage compared to mechanical instruments. The use of advanced energy platforms allows for shorter procedure durations and improved surgical outcomes. Apart from conventional monopolar and bipolar devices, newer technologies such as plasma-mediated ablation and hybrid instruments are being introduced. As these advanced energy-based surgical devices rely on electrodes and other compatible accessories, their increasing use augments the demand for high-quality laparoscopic electrodes. To keep pace with the dynamic requirements, electrode manufacturers are focusing on developing innovative product lines compatible with different energy sources.
• Technological Advancements in Laparoscopic Devices: Continuous innovations and improvements in laparoscopic devices by key players are helping to address the challenges faced during minimally invasive procedures. Advanced bipolar and monopolar electrodes with improved insulation and ergonomic designs are being introduced. Laparoscopic electrodes integrated with advanced energy platforms allow surgeons to control power and perform customized treatments. The introduction of 3D high-definition laparoscopes with improved visualization capabilities is augmenting the adoption of minimally invasive surgeries. The development of single-use disposable electrodes and the integration of sensors, robotics, and AI into laparoscopic systems will further expand the applications of laparoscopy. Technological advancements are increasing surgeons' capabilities to perform complex procedures through small incisions using laparoscopic electrodes, fueling the demand.

Global Laparoscopic Electrodes Market- Opportunities

• Emerging markets in Asia Pacific and Latin America: The emerging markets in Asia Pacific and Latin America offer promising opportunities for growth in the global laparoscopic electrodes market. These regions are undergoing rapid economic development, which has lifted living standards and increased access to healthcare. Countries such as China, India, Indonesia, Brazil, and Mexico have large and young populations with rising disposable incomes. As people's wealth increases, they are able to afford elective medical procedures like laparoscopic surgeries, which were previously out of reach. This is driving higher demand for laparoscopic electrodes and other equipment in both public and private healthcare facilities.

Global Laparoscopic Electrodes Market – Trends

• Development of single-use electrodes: The development of single-use electrodes is having a major impact on the global laparoscopic electrodes market. With single-use electrodes, there is no longer a need for expensive capital equipment to sterilize reusable electrodes. This significantly reduces costs for hospitals and surgery centers. It also removes any risks associated with the ineffective sterilization of reusable instruments. With single-use electrodes, surgeons can feel confident that each instrument is sterile and poses no contamination risk.

Global Laparoscopic Electrodes Market - Restraints

• Availability of Substitutes: Alternative electrosurgical energy devices like microwaves and ultrasonic devices are emerging as substitutes for conventional laparoscopic electrosurgery. These advanced modalities use different energy forms for tissue management and do not require direct electrode contact. Though laparoscopic electrosurgery continues to be the preferred approach currently, the availability of substitutes poses a potential threat. New energy platforms can gain popularity based on claimed advantages over traditional monopolar and bipolar systems. Shifting preferences towards advanced alternatives during the forecast period can hamper the revenue growth of established laparoscopic electrodes. Continuous innovation is critical for manufacturers to differentiate product offerings and address limitations to protect the market from substitutes.
• Reusable Electrodes Require High Maintenance Costs: Though reusable electrodes provide initial cost-saving advantages, they require high maintenance and reprocessing costs. Stringent regulatory guidelines and protocols must be followed for the cleaning, disinfection, sterilization, and functionality testing of reusable devices before each surgical use. Significant investments are needed to establish and manage the reprocessing centers as per federal standards. Any lapses can risk patient safety due to the potential transmission of infectious prions. Maintenance costs tend to eliminate savings from initial device costs over multiple surgical uses. Some facilities avoid adopting reusable devices due to associated regulatory hassles and costs. This restricts the sales volume of reusable laparoscopic electrodes.
• Counterbalance – Thus, the growing preference for minimally invasive surgeries and technological advancements in laparoscopic systems are the key drivers fueling the demand for laparoscopic electrodes. However, the market is restrained by the high maintenance costs of reusable devices and the availability of emerging alternative energy technologies.

Figure 2. Global Laparoscopic Electrodes Market Share (%), By Product, 2023

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Global Laparoscopic Electrodes Market- Recent Developments

Acquisition and Partnership

• On January 3, 2023, Cook, a global medical device company, announced the launch of a new, streamlined portfolio of urological bipolar electrodes in the U.S. This portfolio includes the products that urologists use most frequently to focus on daily electrode needs when performing procedures on the bladder and prostate.
• In February 2022, Premier Inc., a global healthcare company, announced an agreement with U.S. Surgitech, a medical supply store. Under the terms of agreement U.S. Surgitech's SurgyCut product line, which includes disposable laparoscopic electrodes, as well as reposable and fully disposable laparoscopic scissors featured in the agreement

Top Companies in Global Laparoscopic Electrodes Market

• Medtronic
• 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
• Premier Inc.

Definition: Laparoscopic surgery relies on the use of specialized electrodes to perform different functions. There are various types of electrodes used, including monopolar and bipolar electrodes. Monopolar electrodes require the use of a grounding pad placed on the patient to complete the circuit. They are used for functions like coagulation and dissection. However, monopolar electrodes can sometimes cause stray currents, which can damage surrounding tissues. Bipolar electrodes, on the other hand, have both active and return electrodes built into the instrument itself. They allow for more focused energy delivery between the two poles with less risk of collateral tissue damage.