New York, Sept. 09, 2019 (GLOBE NEWSWIRE) — The growing number of age-related surgeries, increasing demand for minimally invasive surgeries, growing number of ambulatory surgery centers are key factors contributing to high CAGR of the electrosurgical devices market during the forecast period.
According to the current analysis of Reports and Data, the global Electrosurgical Devices Market was valued at USD 4432.2 Million in 2018 and is expected to reach USD 7202.4 Million by the year 2026, at a CAGR of 6.6 %. The primary factor driving the growth of the electrosurgery device market is the growing demand for advanced and reliable techniques for treating patients. Electrosurgical devices are employed in surgeries related to abdomen, gastroenterology, urology, and gynecology. Various types of electrosurgical devices include electrocautery devices, electrosurgical accessories, and radiofrequency electrosurgery devices. The growing skin lesions and dermatologic disorders are expected to drive the global electrosurgical devices market during the forecast period. Along with the growing geriatric population is expected to have a significant impact on the market as the elderly population is more prone to gastrointestinal diseases. The rising demand for minimally invasive surgeries in order to avoid a hospital stay and longer healing time provides growth opportunities for the global electrosurgical devices market, as these devices find application in a variety of surgical procedures viz. thermofusion, devitalization, coagulation, and cutting.
Patients prefer electrosurgery over other surgeries owing to their benefits such as minimal chances of infection, faster recovery time, easy of usage, and a low risk to patients. In addition, the increasing government investments for the development of target-specific surgical devices, and advanced medical treatment is likely to foster electrosurgical devices market growth.
Key market players in the electrosurgical devices market are focusing on the development of innovative electrosurgery devices and accessories which would facilitate improved cutting and coagulation properties, tissue vaporization applications, and multimodality application, with an aim to capitalize market growth opportunities. For instance, in 2018, Olympus, a global technology, launched ESG-300 Electrosurgery Generator. Such developments are likely to increase during the forecast period, thereby providing lucrative growth opportunities to market players involved in the global electrosurgical devices market.
The electrosurgical devices market is growing due to due to augmentation in demand for better healthcare services, significant investments by the government to improve healthcare infrastructure, and growth of the medical tourism industry in emerging countries.
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Further key findings from the report suggest
- Electrosurgical Devices Market is growing at a CAGR of 7.8% in the Asia Pacific. the booming medical tourism industry in the Asia-Pacific region, improvement in healthcare infrastructure, increase in healthcare expenditure are some factors driving the growth of this segment
- As of 2018, electrosurgical generators dominates the Electrosurgical Device market which holds 36.8% of the global market.
- The orthopedic surgeries segment is estimated to grow at the CAGR of 6.8 during the forecast period. This is due to increasing geriatric population and rising prevalence of osteopathy
- Electrosurgery electrode segment is expected to register significant growth at the rate of 6.7 percent. This is due to the growing demand for disposable and technologically advance electrodes in the electrosurgical devices market
- Key participants in the electrosurgical devices market include Covidien, Olympus Corporation, Parkell, Smith & Nephew, Ethicon, Boston Scientific among others
To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/electrosurgery-devices-market
Segments covered in the report:
For the purpose of this study, Reports and Data have segmented the Electrosurgical Devices Market on the basis of product type, surgery type, end use, and region:
Electrosurgical Devices Market, by Product Type (Revenue, USD Million; 2016–2026)
- Electrosurgery Generators
- Electrosurgery Instruments & Accessories
- Electrosurgery Instruments
- Bipolar Instruments
- Advanced Vessel Sealing Instruments
- Bipolar Forceps
- Monopolar Instruments
- Electrosurgery Pencils
- Electrosurgery Electrodes
- Suction Coagulators
- Monopolar Forceps
- Bipolar Instruments
- Electrosurgery Instruments
- Electrosurgery Accessories
- Patient Return Electrodes or Dispersive Electrodes
- Cords, Cables, and Adapters
- Argon and Smoke Management Systems
- Smoke Management Systems
Electrosurgical Devices Market, by Surgery Type (Revenue, USD Million; 2016–2026)
- General surgery
- Cardiovascular surgery
- Cosmetic surgery
- Orthopedic surgery
Electrosurgical Devices Market, by End Use (Revenue, USD Million; 2016–2026)
- Ambulatory Surgical Centers
- Specialized Clinics
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Regional Outlook (Revenue in USD Million; 2016–2026)
- North America
- Rest of the Europe
- Asia Pacific
- Rest of Asia-Pacific
- Middle East & Africa
- Latin America
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