This report on the global electrosurgical devices market studies various products and applications. The main need arises because it is more technologically advanced than conventional surgical methods. Chronic diseases are on the rise around the world, increasing the demand for minimally invasive surgeries that can be completed quickly. Electrosurgical devices render safe and cost-effective surgeries with an early recovery period and fewer chances of infection after the surgery.
For the purpose of this study, the various product types studied include electrosurgical generators, electrosurgical instruments and accessories, and argon and smoke management systems. Applications studied (cardiovascular surgery, oncology surgery, cosmetic surgery, orthopedic surgery, and neurology surgery); market size estimates and forecasts for these segments are provided in US$ Mn, with respective CAGRs for the period 2017-2025, using 2016 as the base year.
The global electrosurgical devices market is segmented geographically into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa markets. The regions are also further sub-segmented on the basis of major countries. Market size estimates and forecasts for these segments are provided in US$ Mn, along with the respective CAGRs for the period 2017-2025, using 2016 as the base year.
Based on product types, the global electrosurgical devices market is categorized into
Electrosurgical generators
Electrosurgical instruments and accessories
Argon and smoke management system
Factors such as minimally invasive procedures, technological advancement in surgical procedures, and diverse applications to perform surgeries promote the demand for the electrosurgical devices market. Electrosurgical instruments and accessories hold the largest market due to technical innovations, new product launches, and the increasing use of disposable accessories.
Electrosurgical generators are anticipated to register faster growth as they are suitable for both bipolar and monopolar electrodes, supply current in surgeries performed in a liquid state, and are self-controlled by the innovative operating software. Overall, the global electrosurgical devices market is highly competitive, with multiple players like Olympus Corporation and Covidien Plc. (Medtronic), Bovie Medical Corporation, B. Braun Melsungen AG, etc. specializing in their respective fields.
Consolidation activities are being increasingly witnessed on the competitive front with a view to increasing the technological advancement in electrosurgical devices and related software for safer and quicker surgeries performed at a low cost.
Based on application, the global electrosurgical devices market is categorized into
Cardiovascular surgery
Oncology surgery
Orthopedic surgery
Cosmetic surgery
Neurology surgery
According to the American Heart Association, approximately 17.3 million people died due to cardiovascular disease, and this number is expected to reach 23.6 million by 2030. Cardiovascular surgery dominated the application segment due to the rise in cardiovascular complications; in spite of optimal pharmacological and interventional therapies, there is still a need for angioplasty due to rising public awareness, early disease-related diagnosis, stressful lifestyles, etc.
Cosmetic surgery will be the fastest-growing market due to the rise in public awareness regarding skin complications and high disposable income, which propels the need for social well-being and demand for an attractive personality.
For the purpose of this study, the global electrosurgical devices market is categorized into:
North America
Europe
Asia Pacific
Latin America
Middle East and Africa
In 2016, North America was identified as the largest market for electrosurgical devices. According to the American Association of Retired Persons (AARP), more than 70 million Americans aged 50 and older suffer from at least one chronic disease that requires surgery.
The growth is attributed mainly to high public awareness and early disease diagnosis, an evolving reimbursement scenario, and technological advancements in the production process of electrosurgical devices and software. According to the European Society of Intensive Care Medicine, 4 out of 100 people undergo surgical procedures every year. Europe is expected to be the second-largest market due to the increasing number of surgeries, high awareness related to early diagnosis, government and non-government organization initiatives to strengthen healthcare infrastructure, and supportive reimbursement policies.
The growth of the Asia Pacific electrosurgical market is attributed to factors such as the rising prevalence of chronic diseases that require surgical treatment, flourishing medical tourism, and higher disposable income, which are assisting the growth in healthcare expenditure in these regions. However, factors such as developing health infrastructure and increasing awareness and demand for minimally invasive surgeries are going to fuel the rapid growth of the electrosurgical devices market in Latin America, the Middle East, and Africa in the near future.
Frequently Asked Question:
The market for Electrosurgical Devices Market is expected to reach USD$ 7.46 Bn in 2025.
The Electrosurgical Devices Market is expected to see significant CAGR growth over the coming years, at 6.4 %.
The report is forecasted from 2017 -2025.
The base year of this report is 2016.
Olympus Corporation,Covidien Plc (Medtronic), Bovie Medical Corporation,B. Braun Melsungen AG, ATMOS, Inc.are of the major players in the global market.
