Research Nester published a report titled “Patient Return Electrodes Market: Global Demand Analysis & Opportunity Outlook 2031” which delivers detailed overview of the global patient return electrodes market in terms of market segmentation by type, patient type, end-user, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The global patient return electrodes market is anticipated to attain a CAGR of ~6.5% over the forecast period, i.e., 2022 – 2031. The market is segmented on the basis of end-user into hospitals, ambulatory surgical centers, research laboratories, academic institutes, and others. Out of these, the hospitals segment is anticipated to hold a substantial share, over the forecast period, owing to the increasing patient pool in hospitals, and growing adoption of invasive surgeries.
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The global patient return electrodes market is estimated to grow on the back of rising adoption of electrosurgery for benign tumors. The growing prevalence of non-cancerous tumors is estimated to drive the market growth. Patient return electrodes are an integral part of electrosurgery, which ensure the removal of current from the patient’s surgery. Moreover, growing investment in medical R&D activities is further anticipated to boost the growth of the market. As per the data by the World Bank, 2.203% of the GDP was spent on research and development activities in 2018.
On the basis of geographical analysis, the global patient return electrodes market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in the North America region is anticipated to gain the largest market share over the forecast period, on account of growing advancement of technology. Moreover, the high healthcare expenditure, and high R&D investment in the region, is expected to boost the regional market growth.
The research is global in nature and covers detailed analysis on the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.
Increasing Demand for Electrosurgery to Propel the Market Growth
Electrosurgery involves passing electric current through the patient’s body in order to cut, clot, or shrink any soft tissue, such as, tumors, warts and polyp. The growing demand for invasive surgeries is estimated to boost the market growth. Moreover, the increasing adoption of advanced technology in the healthcare sector is foreseen to encourage the market growth.
However, high cost of electrosurgery is expected to operate as key restraint to the growth of global patient return electrodes market over the forecast period.
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This report also provides the existing competitive scenario of some of the key players of the global patient return electrodes market which includes company profiling of Medtronic Plc, Boston Scientific Corporation, Stryker Corporation, Olympus Corporation, Conmed Corporation, Utah Medical Products, Inc., KLS Martin GmbH & Co. KG, Arthrex GmbH, AtriCure Inc., and Pfizer Inc. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global patient return electrodes market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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