Global Laparoscopic Electrodes Market: Introduction
Laparoscopic electrodes are used in minimal invasive surgeries across the globe. These electrodes are 33 cm long. They are inserted into standard electro surgery pencils. Each electrode is packaged with a 4 mm shaft adapter to connect with 4 mm active cables. Laparoscopic electrodes come in different styles and have stainless steel finishing. These electrodes are used in preventing injuries during an electro surgery. These are made of premium insulation materials. These insulation materials reduce the damage risks during sterilization and reprocessing of reusable devices. Laparoscopic electrodes are beneficial for surgeons as their coating provides precise cuts and protection against coagulation during surgery.
Global Laparoscopic Electrodes Market: Competitive Landscape
Major players operating in the global laparoscopic electrodes market include Bovie Medical, Medtronic, Erbe Medical India Pvt Ltd, Bharat Surgical Co., LaproSurge, CONMED Corporation, Lagis Endosurgical, and B. Braun Melsungen AG. Key players are focusing on innovation to gain a competitive edge in the market. Recent merger & acquisitions are likely to influence companies’ strategic decisions to gain market share in the industry.
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Medtronic is a prime medical technology, services, and solutions company. Its product portfolio caters to cardiovascular, diabetes, cardiac rhythm, ENT, digestive & gastrointestinal, neurological, orthopedic, and other segments. The company’s strength lies in developing technologies with an aim to mitigate pain, improve health, and extend the quality of life of patients. The company is an industry leader that offers value-based health care services in order to drive growth globally. Medtronic believes in improving human welfare, thus enhancing its offerings by developing new products. Medtronic operates in 160 countries through 370 locations worldwide. It offers its innovative solutions to hospitals, clinics, third-party health care providers, distributors, government health care organizations, and group purchasing organizations.
CONMED Corporation, is a global medical technology company providing surgical products to cater minimal invasive process. The company’s business is divided into two main segments: Orthopedics and General Surgery. The general surgery segment includes products for laparoscopy and gastrointestinal therapeutics & diagnostic. The segment also includes multi-functional electrodes, and other patient care products. CONMED Corporation operates through its subsidiaries in Asia Pacific and Europe.
B. Braun Melsungen AG
Incorporated in 1839, B. Braun Melsungen AG is headquartered in Melsungen, Germany. The company is one of the leading manufacturers of various health care products and services. It operates in hospital care, Aesculap, out-patient market, and B. Braun Avitum divisions. Aesculap and B. Braun Activum are subsidiaries of the parent company B. Braun. The company’s portfolio mainly includes products for anesthesia, cardiology, intensive care, extra corporeal blood treatment, and surgery. The company operates in the U.S., Europe, Asia, and Africa. Majority of its revenue comes from Europe and Africa regions followed by North America and Asia Pacific.
Global Laparoscopic Electrodes Market: Dynamics
Rise in Obesity Worldwide Drives Demand for Surgery
According to the World Health Organization (WHO), global obesity rate is on a rise, and the number of global obese adult population was estimated to be 650 million in 2016. Bariatric surgeries which reduce the overall size of stomach are the most widely accepted means for weight reduction. Almost 90% of the bariatric surgeries are performed through laparoscopic procedures. This is one of the major drivers of the laparoscopy electrodes market, especially in the U.S. A report published by Trust for America’s Health and Robert Wood Johnson Foundation, forecasts that more than 44% of adults will be obese by 2030. Increasing obesity has pressurized researchers to find alternatives for quick weight reduction.
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Rise in Demand for Minimal Invasive Surgeries Drives Laparoscopic Electrodes Market
Increase in demand for minimally invasive surgeries is likely to affect the market positively, owing to increase in incidence rate of diseases and aging population thus expands the patient pool. Minimally invasive surgeries have several advantages for doctors as well as patients. Laparoscopic surgeries include usage of electrodes which is safer as compared to open surgeries. A few more advantages include reduced blood loss, lower chances of infection, faster recovery, and fewer surgery marks on body. Minimally invasive surgeries have faster recovery time and are less time consuming, and they attract a lot of consumer attention, hence rapid adoption of these surgeries is driving the market.
Emerging Economies to Offer Sustained Growth Opportunities to Drive Laparoscopic Electrodes Market
Emerging economies in Asia Pacific and Latin America hold immense potential in the electrosurgical devices market due to increasing population base, high unmet medical needs, and rise in health care-related customer expectations driven by improved economic conditions. Rise in per capita income and disposable income has fueled the growth of the laparoscopic electrodes market in these regions. Additionally, uncertain economic situation in the U.S. and Europe has forced manufacturers to explore these potential emerging markets through acquisitions and collaborations. Moreover, improving scenario for availing better health care facilities in countries such as India and China is likely to offer immense growth opportunities in the laparoscopic electrodes market.
Global Laparoscopic Electrodes Market: Segmentation
Based on product, the global laparoscopic electrodes market can be classified into:
- Monopolar Electrodes
- Bipolar Electrodes
In terms of application, the global laparoscopic electrodes market can be categorized into:
- Abdominal Surgery
- Bariatric Surgery
- Colorectal Cancer
Based on end-user, the global laparoscopic electrodes market can be divided into:
- Ambulatory Surgical Centers
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
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The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.