Transparency Market Research presents this most up-to-date research on “Electrosurgical Devices Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 – 2024”
Global Electrosurgical Devices Market : Snapshot
With the changing face of medical field since the last decade, triggered by an immense rise in technological advancements and rising healthcare expenditure across the globe, a large number of surgical procedures are making the shift from traditional ways to minimally invasive techniques. This is considered to be one of the key factors to have boosted the global adoption of electrosurgical devices of late. Electrosurgical products such as radiofrequency electrosurgery devices, eletrocautery devices are currently being extensively used for purposes such as cutting, desiccation, ablation, vaporization, and charring of target tissue.
Transparency Market Research estimates that the adoption of these products will continue to rise at a promising pace owing to the rising geriatric population, increasing prevalence of chronic diseases, and the resultant rise in demand for effective surgical procedures. The global market for electrosurgical devices is expected to exhibit a healthy 6.7% CAGR over the period between 2016 and 2024. Owing to this, the market will rise from a valuation of US$4,480.8 mn in 2015 to US$7,963.2 mn by 2024.
Browse Full Research Report on Electrosurgical Devices Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 – 2024
Complications Associated with Electrosurgery to Hamper Market Growth
The possibility of occurrence of several electro-thermal injuries and post-operative complications owing to factors such as improper application of electrosurgery devices, failure of insulation, capacitive coupling, and direct coupling is one of the core challenges faced by the global electrosurgical devices market. More than half of these complications are associated with the entry technique of devices. According to a study conducted by the Society of American Gastrointestinal and Endoscopic Surgeons, the rate of occurrence of electrosurgical complications during delivery of energy to living tissue is nearly as high as 27%.
Moreover, growth of the market is also hampered owing to stringent quality and safety regulations governing the overall adoption and usage of these devices and the longwinded approval processes, which have discouraged electrosurgical devices manufacturers in developed countries. These market players, as a result, are focusing on growth opportunities across regions such as Asia Pacific and Latin America for new product launches.
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