Bipolar Electrosurgical Device Market Trends

Growth Drivers

• Rising demand for minimally invasive surgeries: Since numerous organizations have underscored the efficacy of minimally invasive solutions, the global market has become increasingly preferred. In June 2024, ISAPS revealed that in 2023, approximately 34.9 million aesthetic procedures were performed across all nations, marking a 3.4% increase from the previous year. Surgical procedures also grew by 5.5% to 15.8 million, with liposuction being the most common, seeing a 29% rise since 2021.
   
• Continued advancements in electrosurgical devices: This is a major benefiting factor for the bipolar electrosurgical device market that allows a steady cash influx. For instance, in April 2024, Medtronic introduced its Live Stream technology along with 14 new AI-driven Performance Insights algorithms to enhance laparoscopic and robotic-assisted surgeries. It also stated that the Touch Surgery Live Stream enables remote surgical observation and improved training opportunities, thus boosting efficiency and outcomes.
   
• Expanding geriatric population: This is a major influencing factor in the market of bipolar electrosurgical devices since it leads to a huge incidence of age-related diseases requiring surgical interventions. As per a February 2024 article published by NITI Aayog, the government of India undertook a special drive for cataract surgeries, targeting senior citizens to support the vision of achieving cataract blindness-free districts. Under this initiative, surgeries will be conducted annually across all districts in government hospitals or community health centers. Also, senior citizens holding BPL cards will receive free surgeries and medicines to ease the burden of rising cataract blindness.

Incidence Trends of Gynecological Cancers by Elderly Age Groups (2010 vs. 2020)

Source: NIH April 2024

Allocation Overview of India's Scheme for Strengthening the Medical Device Industry (2024)

Source: India Press Information Bureau (PIB)

Challenges

• Risk of surgical complications: Despite the growing volume of surgical procedures, the bipolar electrosurgical device market still faces risks due to the complications associated. It can cause tissue damage, burns, or unintended thermal injury, which can lead to severe health concerns and affect clinician trust, thereby slowing market growth and device acceptance. Also, the existence of these risks can create hesitation among patients to leverage products from the market, thereby hindering adoption.
   
• Prolonged approval durations: The administrative bodies impose prolonged approval durations hamper manufacturer enthusiasm in the market. This ultimately creates a delayed product launch and adds robust development costs, posing significant barriers for the global firms. Therefore, the aspect of stringent regulatory requirements hampers market expansion in almost all nations.