Bipolar Coagulator Market: Current Analysis and Forecast (2022-2028)
Emphasis on Product Type [Generators, Instruments (Advanced Vessel Sealing Instruments, and Bipolar Forceps), Accessories (Electrodes, Cords, Cables, Adapters, Foot Switches, Carts)]; Application (Laparoscopic Surgery, Orthopedics, Neurosurgery, Gynecology Surgery, Others); End Users (Hospitals, Trauma Centers, Ambulatory Surgical Centers, Others); and Region/Country
Global Bipolar Coagulator Market is expected to grow at a significant rate of around 6% during the forecast period 2022-2028. Bipolar coagulators are used in surgical procedures such as cardiovascular surgery, gynecology surgery, general surgery, and others. These devices apply electric current for the thermal destruction of the targeted tissues. Thus, the growing technological developments in the medical sciences have resulted in the development of modern, highly advanced medical tools and techniques that are very effective in the treatment of many diseases and disorders such as chronic diseases and tumors. According to the World Health Organization (WHO) in 2021, various types of chronic diseases, such as cardiovascular diseases, cancer, respiratory diseases, and diabetes are responsible for approximately 17.9 million, 9.3 million, 4.1 million, and 1.5 million deaths, respectively. Major companies in the market offer product launches, and product approvals with technologically advanced features. For instance, in August 2020, Encision Inc., a developer of active electrode monitoring technology that prevents dangerous stray electrosurgical burns in minimally invasive surgery, launched AEM 2X enTouch Scissors, which was an instrument intended for surgical use in cutting, drilling, sawing, scratching, scraping, clamping, retracting, clipping, or similar procedures.
- Braun SE, Symmetry Surgical Inc., Apyx Medical, Medtronic, XCELLANCE MEDICAL TECHNOLOGIES PVT LTD, Olympus Corporation, Karl Storz, CONMED Corporation, Boston Scientific Corporation, Smith & Nephew are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.
Insights Presented in the Report
“Amongst product type, electrodes are expected to grow at a significant CAGR during the forecast period”
Based on product type, the market is segmented into generators, instruments, and accessories. Instruments are sub-segmented into advanced vessel sealing instruments, and bipolar forceps. Accessories are sub-segmented into electrodes, cords, cables, adapters, foot switches, and carts. Among these, electrodes are expected to grow at a significant CAGR during the forecast period. This is mainly due to the growing prevalence of chronic diseases, the increasing adoption of minimally invasive procedures globally, and the technological advancements offered to patient requirements. According to the CDC 2020 report, 90% of the nation’s USD 3.8 trillion per year healthcare costs were likely to be attributed to people with chronic diseases and mental health conditions.
Bipolar coagulator Market Report Coverage
“Amongst application, the laparoscopic surgery held a significant share of the market in 2020”
On the basis of the application, the market is categorized into laparoscopic surgery, orthopedics, neurosurgery, gynecology surgery, and others. Among these, the laparoscopic surgery segment held a significant share of the market in 2020. Laparoscopic surgery refers to surgical procedures that are performed through one or multiple small incisions. This minimally invasive surgical technique is associated with faster recovery and better patient outcomes that drive the segment. For instance, in April 2021, Genesis MedTech, a medical device company, announced the launch of novel laparoscopic technology in Singapore and China.
“North America to hold a significant share in the market”
In 2020, North America held a significant share of the global bipolar coagulator market. This is mainly attributed to the rising incidence of cardiovascular and neurological disorders may lead to an increase in surgical procedures. According to the Centers for Disease Control and Prevention (CDC), in 2022, one person dies every 36 seconds in the United States from cardiovascular disease. In addition, it is anticipated that factors include an innovative medical infrastructure and high disposable income. The presence of leading players such as CONMED Corporation, Boston Scientific Corporation, and Smith & Nephew offers bipolar coagulators for surgical procedures with technologically advanced features. For instance, in December 2020, Boston Scientific Corporation announced FDA approval for its ORISE ProKnife, designed to be used with endoscope units to cut tissue within the gastrointestinal tract using high-frequency current.
Reasons to buy this report:
- The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
- The report presents a quick review of overall industry performance at one glance.
- The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments.
- Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
- The study comprehensively covers the market across different segments.
- Deep dive regional level analysis of the industry.
Customization Options:
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Table of Contents
Research Methodology for the Bipolar Coagulator Market Analysis (2022-2028)
Analyzing the historical market, estimating the current market, and forecasting the future market of the global bipolar coagulator market were the three major steps undertaken to create and analyze the adoption of bipolar coagulators in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global bipolar coagulator market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the bipolar coagulator market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the bipolar coagulator market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as product type, application, end users. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the bipolar coagulator market. Further, we conducted factor analysis using dependent and independent variables such as type, application, end users of bipolar coagulators. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the bipolar coagulator market sector across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global bipolar coagulator market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2028 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
- The industry’s market size, in terms of revenue (USD) and the adoption rate of the bipolar coagulator market across the major markets domestically
- All percentage shares, splits, and breakdowns of market segments and sub-segments
- Key players in the global bipolar coagulator market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
Market Engineering
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global bipolar coagulator market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of type, application, and end users in the global bipolar coagulator market.
The main objective of the Global Bipolar coagulator Market Study
The current & future market trends of the global bipolar coagulator market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:
- Analyze the current and forecast market size of the bipolar coagulator market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
- Segments in the study include areas of type, application, end users.
- Define and analysis of the regulatory framework for the bipolar coagulator
- Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry.
- Analyze the current and forecast market size of the bipolar coagulator market for the major region.
- Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the World.
- Company profiles of the bipolar coagulator market and the growth strategies adopted by the market players to sustain in the fast-growing market
- Deep dive regional level analysis of the industry
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