Electrosurgery Devices Market to Grow at a CAGR of 6.51% during the Forecast Period
Rising cases of plastic surgeries along with rapid
technological advancements in healthcare sector to drive electrosurgical
instruments market.
According to TechSci Research report, “Global Electrosurgery Devices Market By Method (Monopolar v/s Bipolar), By
Type (Electrosurgery Generators, Electrosurgery Instruments & Accessories,
Patient Return Electrodes), By Application (General Surgery, Gynecology Surgery,
Orthopedic Surgery, Cardiovascular Surgery, Others), By End-user (Hospitals & Clinics,
Ambulatory Surgical Centers and Others), By Region, Forecast &
Opportunities, 2025”, the
global electrosurgery devices market stood at USD6781.75 million in 2020 and is
further expected to grow at a CAGR of 6.51%, during the forecast period. This can be ascribed to the benefits
associated with electrosurgery such as low risk to patient, quicker recovery
time, minimal blood loss, minimal chances of getting post-surgery infections,
among others. All these factors are expected to support the market growth
during the forecast period. Besides, electrosurgical procedures can be
performed in office like setup also. This in turn has increased the use of
electrosurgical devices thereby driving the arket growth. Additionally, growing use of electrosurgery
devices in different sectors like urology, gynaecology, dermatology, etc., is anticipated
to further fuel the demand for electrosurgery devices in the coming years. However,
high cost of electrosurgery devices can restrict the market growth during the
forecast period. Also, people are still preferring general surgery methods over
the minimally invasive ones, especially in the developing countries. Moreover,
stringent regulatory approvals process associated with electrosurgical devices
can hamper the market growth through 2026. Also, a lot of product recalls have
been observed in the past related to electrosurgical devices. This can further
restrict the market growth over the next few years. Moreover, challenges such
as different types of severe electro-thermal injuries which can be caused due
to insulation failure or direct coupling or capacitive coupling or due to any
other technical reasons further impede the growth of global electrosurgical
devices market.
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The global
electrosurgery devices market is segmented into method, type, application,
end-user, and region. Based
on method, the electrosurgery devices market is segmented into monopolar and
bipolar. The bipolar segment held the largest market share in 2020 of around
62.77% on account of enhanced safety and ease of use, bipolar prevents from
several risks, including unintended burns, stimulation of tissues etc. Additionally,
bipolar methods provide high precision and dexterity. Also, bipolar devices are
safer for patients with pacemaker. While the monopolar devices have several
associated risks including current shunting, unintended burns, among others.
All these risks have gradually reduced their demand. Based on end users the
market can be categorized into hospitals,
ambulatory surgical centres, and others. Hospitals were the dominant end-user
segment in 2020 with a share of 64.72% due to the high frequency of surgical
procedures which are carried out in hospitals. Moreover, hospitals have been
adopting high imaging solutions to enhance the accuracy and efficiency of electrosurgery
devices, which is contributing to the market share of the segment across the
globe.
Some
of the leading players in global electrosurgery devices market include Medtronic
Plc, Boston Scientific Corporation, Stryker Corporation, B. Braun Melsungen AG,
Olympus Corporation, Conmed Corporation, Applied Medical Resources Corporation,
Utah Medical Products, Inc., Erbe Elektromedizin GmbH, KLS Martin GmbH &
Co. KG, Karl Leibinger Medizintechnik GmbH & Co. KG, Arthrex GmbH, AtriCure
Inc., ATMOS Inc., Meyer-Haake GmbH. In order to expand their market share, the
companies tend to adopt various strategies like new product launches, mergers
& collaboration. For instance, In June 2018, Stryker Corporation acquired a
Swiss medical device manufacturer, SafeAir AG, specializing in design,
development and production of surgical smoke evacuation systems. This
acquisition helped Stryker Corporation strengthen its electrosurgical devices
product portfolio.
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“Global
electrosurgery devices market is anticipated to witness a steady growth during
the next five years as the major companies are now concentrating on advanced electrosurgery
devices that would enhance coagulation & cutting practices and multimodality
application. Also, increasing incidence of skin
diseases among population coupled with less recovery time and low risk
associated with electrosurgical devices is propelling the growth of the market
across the globe. North America held the lion’s share in the global
electrosurgery devices market in 2020 and is expected to hold its position
through the forecast period as the region has well-developed healthcare
infrastructure and the investments in the healthcare and medical sectors are
also high. Also, growing geriatric population in the region especially in the
United States is expected to drive the regional growth. According to the United
States Census Bureau, the United States geriatric population will reach around
77 million by 2034.” said Mr. Karan Chechi, Research
Director with TechSci Research, a research based global management consulting
firm.
“Global Electrosurgery Devices Market By
Method (Monopolar v/s Bipolar), By Type (Electrosurgery Generators,
Electrosurgery Instruments & Accessories, Patient Return Electrodes), By
Application (General Surgery, Gynecology Surgery, Orthopedic Surgery,
Cardiovascular Surgery, Others), By
End-user (Hospitals & Clinics, Ambulatory Surgical Centers and Others), By
Region, Forecast & Opportunities, 2025”, has
evaluated the future growth potential of global electrosurgery devices market and
provided statistics & information on market size, shares, structure and
future market growth. The report intends to provide cutting-edge market
intelligence and help decision makers take sound investment decisions. Besides,
the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities in global electrosurgery
devices market.
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