According to the report, the Global Electrosurgical Devices Market was valued at US$ 4,480.8 Mn in 2015 and is projected to expand at a CAGR of 6.7% from 2016 to 2024 to reach US$ 7,963.2 Mn in 2024. This report offers a thorough understanding of the global electrosurgical devices market, its key market trends, drivers, restraints, opportunities, threats, and pricing.
Electrosurgical devices are used for cutting, desiccation, ablation, vaporization, charring of target tissue or control bleeding by causing coagulation at the surgical sight. With the changing face of medical field since the last decade, a larger number of surgical procedures are moving out of the traditional ways and these traditional procedures are anticipated to replace by minimally invasive techniques which is driving market of electrosurgical devices globally. Increasing focus on efficient health care systems in various developed countries is expected to fuel growth of electrosurgical devices and procedures. Rising government funding for research to develop advanced medical treatment and target-specific surgical devices is expected to drive the global electrosurgical devices market. Key players in the electrosurgical devices market are focusing more on development of innovative electrosurgical devices and accessories. Technological advancements play an indispensable role in the medical devices frontier and electrosurgery is no exception. Revolutionary technologies such as the introduction of robotic electrosurgical system, plasma electrosurgical systems and smoke evacuation systems will create more opportunities in electrosurgical devices market during the forecast period.
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In terms of product, the electrosurgical devices market has been divided into radiofrequency electrosurgery devices, electrocautery devices and electrosurgical accessories. Radiofrequency electrosurgery devices, electrocautery devices are further divided in to monopolar devices and bipolar devices. Electrosurgical accessories segment is expected to be the most attractive product segment in the electrosurgical devices market which show highest attractiveness index of 1.6 and the same segment is expected to hold highest market share of 53% in the electrosurgical devices market. This trend is expected to continue over the forecast period. Technical innovations, new product launch in this field and increasing use of disposable accessories will drive the growth of electrosurgical accessories segment during the forecast period of 2016-2024.
The hospital segment accounted for the major share of the electrosurgical devices market in 2015. Increasing demand for electrosurgical devices from corporate hospitals is driving the overall sales of these devices. However, Ambulatory Surgery Centers are expected show highest growth with CAGR of 7.8%. Increasing demand for minimal invasive surgeries is expected to drive the growth of this segment in the global electrosurgical devices market.
Electrosurgery is about the control of current density, that is, amount of current per unit area of electrode in contact with tissue. Current density differs as per shape, size, and type of electrode. Surgeons who fail to develop these operating skillsets limit the growth of the electrosurgical devices market. Also, according to the FDA report, re-use of electrosurgical electrodes creates stray electrical current due to insulation failure or capacitive coupling problems which results in subsequent injury. So, the lack of skilled surgeons may hinder the growth of electrosurgical devices market.
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Key players in this market are as follows Bovie Medical Corporation, Medtronic, B. Braun Melsungen AG, Erbe Elektromedizin GmbH, Boston Scientific Corporation, Olympus, Johnson & Johnson, Symmetry Surgical Inc., CONMED, KLS Martin and BOWA-electronic GmbH & Co. KG.
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