Laparoscopic Electrodes Market: Global Opportunity Analysis and Industry Forecast, 2023-2030 Market

Laparoscopic Electrodes Market Outlook – 2027

Laparoscopic electrodes are extensively implemented in minimal invasive medical procedures around the world. These electrodes usually measure 33 cm in length. They are plugged into standard electro surgery pencils which aid in their placement at target location. Laparoscopic electrodes are available in variable sizes, features and mostly host a stainless steel finishing. These electrodes are implemented for avoiding injuries during the course of an electro surgery. These electrodes are manufactured using superior quality of insulation materials. These insulation materials minimize the complications and risks related to sterilization and reprocessing of reusable devices. Laparoscopic electrodes have various advantages for medical professionals like surgeons as the coating of electrodes offers accuracy in cutting and protection from coagulation whilst the surgery. Laparoscopic electrodes have applicability in treatment of gastroparesis as well. Gastric electrical stimulation treatment is used as a modality for patients suffering due to refractory gastroparesis and is accomplished with the help of laparoscopy wherein laparoscopic electrodes are used. 

COVID – 19 scenario analysis:  

• The COVID-19 pandemic has emerged as a humanitarian as well as economic crisis, creating strain on the society and affecting millions of people and businesses
• Industry closures and people are asked to stay in their homes which has cause taken a huge toll in terms of money and economic growth
• Over 4 million people affected globally, with 300 thousand losing their lives due to SARS-CoV-2
• Healthcare organizations are already working in battle mode, preparing new plans to respond growing COVID-19 patients, right from sourcing rapid diagnosing kits to sufficient PPE kits for workers
• Due to diversion of medical field towards treating COVID-19, this segment have to face negligence subsequently causing negative impact on laparoscopic electrodes market

Top impacting factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis

Global laparoscopic electrode market is to witness tremendous growth in the coming years owing to growing prevalence of colorectal cancer and chronic and internal ailments such as gynecological disorders and gastrointestinal disorders. As per the World Health Organization reports, around 1.8 million new cases of colorectal cancer were recorded in 2018. The National Cancer Institute’s statistics, highlight the number of people suffering from colorectal cancer is nearly 1,317,247 the in U.S. alone in the year 2014. Healthcare Cost and Utilization Project (HCUP) 2014 estimates reveal that over 100,000 laparoscopic procedures intended for gastrointestinal therapeutics were conducted in ambulatory surgical settings in the U.S. Furthermore, smaller incision made on the body during laparoscopic surgery represents the non-invasive nature of laparoscopic surgery and has various benefits including less pain, minimal blood loss, and rapid recovery. 

Furthermore, growing geriatric population, rising disposable income, increasing awareness regarding benefits of laparoscopic electrodes among people, and pivotal role played by distribution channels would drive the market. Additionally, technological developments and increasing expenditure on healthcare infrastructure and facilities in emerging geographies contribute significantly for the laparoscopic electrode market growth in the near future. 

Having said that, growing adoption of for robot-assisted surgeries, automation in laboratories and a lack of skilled medical professionals can potentially restrain the growth of laparoscopic electrodes market to a certain extent. 

Rising prevalence of cancer and increasing number of patients

According to the Cancer Research UK, around 17 million cancer cases were registered in 2018, out of which 56% of the cases were fatal. As per a research report by the World Health Organization (WHO), in low- and middle-income countries, around 70% of deaths occurs due to cancer. Poor food habits, changing lifestyle, increase in of smoking habits, genetic mutation, alcohol and hormones consumption, urban air pollution are the frequent reasons for the increasing number of cancer patients in the world. Colorectal cancer (CRC) is third most common cancer in the world with 1.36 million people affected globally, accounting for nearly 10% of cancers. Around 142820 new cases with 50830 deaths were accounted in the United States in 2013 due to colorectal cancer, and approximately 447000 new cases of CRC and 215000 deaths in European countries were recorded in 2012. The new cases for colorectal cancer in China were estimated to be around 400000 in 2012, and it has become the third leading cause of death in the country. Additionally, over 300,000 new cases of colon cancer were reported in European region in the year 2018. Increasing incidences of several lower-abdominal cancer will significantly elucidate the growth of laparoscopic electrodes market.

Increasing patient preference towards minimally invasive surgeries

Surging demand for minimally invasive surgeries would have a positive impact on the market, as the incidence rate of various chronic diseases and geriatric population has been on rise as well, creating large patient pool. Minimally invasive surgeries are being increasingly popular pertaining benefits for medical personal as well as patients. As a result, there has been a shift in the patient preference towards minimally invasive surgeries owing to certain attributes such as minor incisions, lesser pain, tissue damage, prevention of surgical scars, rapid recovery, lower chances of infection and lesser stay at the healthcare facilities in comparison with invasive surgeries. These techniques being increasingly used across the medical field as they benefit both the medical professionals and patients as they minimize the discomfort caused to patients due to open surgeries and mostly, avoid surgeries and physical harm. The advantages such as minor complications in rare cases, less pain and lower surgery costs pertaining to use of laparoscopic surgeries is likely to facilitate the market growth over the next few years. Laparoscopic surgeries involve utilization of electrodes that provides a safer alternative to open surgeries. Minimally invasive surgeries require less recovery time and are quick, as a result attracts the consumers and their attention, hence growing adoption of these surgeries, would propel the market.

 Laparoscopic Electrodes Market: Global Opportunity Analysis and Industry Forecast, 2020-2027 Report Highlights