Market Growth:
Increasing prevalence of chronic diseases requiring microsurgeries and growing demand for minimally invasive surgeries drives market growth.
As per the World Health Organization report of Population Ageing 2021, the population aged 60 years and over will increase from 1 billion in 2020 to 1.4 billion. By 2050, the world's population of people aged 60 years and older will double (2.1 billion). The number of persons aged 80 years or older is expected to triple between 2020 and 2050 to reach 426 million. This growing geriatric population is adding value to the global population suffering from chronic disease; chronic diseases are among the leading causes of death in the United States, with heart disease and cancer alone accounting for around 38 percent of all deaths. These rising numbers of chronic diseases have created a huge demand for bipolar forceps devices and expect to maintain the forecast period's momentum. In 2021, 5.5 million surgical procedures were done in the United States. These rising surgeries uplifted the demand for microsurgeries in some severe cancer trauma cases and raised the demand for bipolar forceps in microsurgical procedures.
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Furthermore, technological advancements in bipolar forceps drive market growth. Over the past few decades, electro surgery has evolved into modern-day bipolar technology, which involves diverse coagulation instruments. Electrosurgical methods must include highly accurate devices that offer thermal energy via nonstick and noncontract methods. Over time, the operative range of coagulation instruments has improved drastically with the incorporation of irrigating pathways, a wide range of instrument tips to perform several functions and the application of bipolar technology to micro scissors and micro forceps minimally invasive procedures. The arrival of improved and advanced technology has led to better intraoperative coagulation control while minimizing damage associated with tissue adherence and heat spread. It leads to potentially upgrading the outcomes for neurosurgical procedures. These recent advancements in electrosurgical procedures and bipolar technology have led to minimal tissue damage and improved performance delivered by bipolar devices that will positively impact bipolar forceps devices' business in the coming future.
Segmentation Analysis:
Disposable bipolar forceps segment accounted for the highest share in global bipolar forceps market.
Disposable bipolar forceps are expected to build the largest review in the forecast period owing to shorter turnaround time, improved compatibility with the electrosurgical generators, and reduced toxic smoke. Besides, they offer minimal infections post-surgery and minimum maintenance cost; hence many key players prefer to bring the advanced version of disposable bipolar forceps in the forecast period. For instance, in 2020, Sutter launched a new disposable non-stick forceps – Swing, that offers precision and versatility in the operating room with a broad spectrum of available models.
Depending on the application, the bipolar forceps market can be bifurcated into general surgery, cosmetic surgery, urologic surgery, cardiovascular surgery, neurosurgery, orthopedic surgery, etc. General surgeries are more likely to take over the market of bipolar forceps in the forecast period. General surgery is a surgical procedure that focuses on abdominal content, including the large intestine, small intestine, stomach, esophagus, liver, and others. Some common general surgeries are laparoscopic, hemorrhoids, breast biopsy, colon cancer surgery, and others. The rising population and various diseases are responsible for increasing general surgical procedures worldwide. Apart from this increasing percentage of chronic diseases in developing countries, such as obesity, it has uplifted bariatric surgeries in recent years. Countries such as the U.S and Europe are among the major contributors around the globe.
Gynecological surgeries are expected to grow at the fastest rate in the forecast period due to increasing minimally invasive gynecologic surgeries, which helps cut down the longer stay in hospitals. Hence raising the percentage of gynecological surgeries is anticipated to uplift the bipolar forceps market in the forecast period.
Geographical Penetration:
North America is the dominating region during the forecast period.
North America region holds the highest market share for bipolar forceps in present times and is expected to maintain dominance in the coming years. This rising chronic disease rate in the region is expected to propel the market of bipolar forceps in the conjecture time frame. Other factors that help grow the market are increased surgical techniques, excessive government measures to foster medical innovation and additional funding for bipolar coagulation research studies. The rising prevalence of minimally invasive surgeries, especially in outpatient settings, adds value to the market's overall growth. Rising disposable income in developed countries like the United States and Canada helps to grow the bipolar forceps market.
Competitive Landscape:There are various established participants in the industry and local manufacturers; hence, the Bipolar Forceps market is fragmented. Some of the key players contributing to the market's growth include B.Braun, Medtronic, Erbe, Codman, Pentax Medical, Ethicon, Geyi, Sutter, Faulhaber Pinzetten, and Johnson & Johnson, among others. The major players are adopting several growth strategies, such as product launches, acquisitions, and collaborations, contributing to the global bipolar forceps market. In September 2021, B. Braun Melsungen AG completed the acquisition of Sterinova Inc. Sterinova Inc. is a manufacturer and distributor of ready-to-use sterile injectable products in syringes and premix bags. In April 2021, Erbe Elektromedizin acquired Maxer Endoscopy. This acquisition provides the solution for surgeries and procedures where visualization is critical. In May 2022, B. Braun and Massachusetts General Hospital Collaborated on healthcare delivery challenges. This collaboration focused on bringing to life nursing ideas and business models to deliver care more efficiently and productively while also enhancing the work life and well-being of care teams.
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COVID-19 Impact:
Negative impact on the global bipolar forceps market.
The sudden coronavirus outbreak has shown a significant impact on the bipolar forceps market's growth as minimally invasive surgeries carry the risk of aerosolizing blood-borne viruses. Therefore the Scientific Advisory Group for Emergencies (SAGE) and the European Association for Endoscopic Surgeons (EAES) have recommended that patients postpone severe surgeries for a while, and the cancellation and postponing of elective procedures have reduced the demand for electrosurgical generators and hence the demand for bipolar forceps in the year 2020. Due to COVID-19, a significant drop in inpatient hospital visits is seen due to temporary lockdown and constraints implemented to prevent the disease from spreading in unaffected zones. Hence end up dropping the global business of bipolar forceps in the year 2020.
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