In electrosurgery, use of high frequency electric current is made in order to cut the tissues during surgery with maximum precision and minimum blood loss and damage to adjoining tissues. In order to produce this high frequency electric current, use of electrosurgery generators is made. Such type of generators produce different types of electric current so that monopolar electrosurgery or bipolar electrosurgery can be performed, depending upon the specific surgery type. In monopolar electrosurgery, the current passes from the probe electrode to the tissue and the circuit is completed as the current is returned back through the patient by the means of a return pad placed somewhere else on the patient. However, in bipolar electrosurgery, the current only passes through the tissue between the arms of a forceps shaped electrode, and there is no return pad needed as the circuit is already completed. Hence, in both types of electrosurgery, there is a need of generators through which a high frequency electric current can be produced. The popularity of electrosurgery is growing since the technique is minimally invasive, there is a less scope of infections and the recovery time is also reduced. In addition, the technological advances in the field of electrosurgery, the cutting edge research done by the leading market players and increasing spending on healthcare by the governments around the world will translate into a sustained growth in the electrosurgery generators market in the coming decade.
Electrosurgery generators Market: Drivers
A rise in the geriatric population across the globe, a rise in popularity in cosmetic surgeries, increased number of bariatric surgeries, increased amount of government spending in the healthcare sector and rapid technological advances in the field of electrosurgery are the main drivers contributing to the growth of electrosurgery market across the globe. In addition to this, the ever increasing popularity of medical tourism in the emerging economies of China, Malaysia and India, where the cost of surgeries is significantly less is also contributing to the growth of electrosurgery generators market in these regions. Besides this, in the established markets of North America and Europe, there is a well-developed healthcare sector that contributes to the rise in the number of surgeries performed and so the demand for electrosurgery generations is likely to witness a sustained growth in the coming decade.
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Electrosurgery generators Market: Restraints
Intense competition among the leading market players, a high rate of product recall and increase in the popularity of other non-invasive surgical procedures are some of the market restraints in the electrosurgery market. In addition, in the lucrative market of North America, there is a trend of bulk purchase of electrosurgery generators that produces intense price pressure on the manufacturers and distributors and this trend also acts as a dampener in this market.
Electrosurgery generators Market: Key Regions
North America holds the largest share of electrosurgery generators market, closely followed by Europe. The main reasons for this are the increased number of surgeries performed in these regions, coupled with a rise in popularity of cosmetic and bariatric surgeries. Also, major technological advancements in the field of electrosurgery by investing in cutting edge research is also contributing to the growth of electrosurgery in these regions. However, it is the Asia-Pacific region that will the highest growing market for electrosurgery generators. A rise in affluence in major economies of this region combined with a huge unmet demand and rise in healthcare expenditure will lead to a major demand for electrosurgery generators.
Electrosurgery generators Market: Key Market Players
Covidien plc, KLS Martin Group, Ethicon, Olympus Corporation and Conmed Corporation are some of the major market players in the electrosurgery generators market globally.