According to a recent report by Emergen Research, the global electrosurgical devices market will be worth USD 7.62 billion by 2027. The growth of this market can be attributed to the growing investment in the development of technologically advanced electrosurgical devices by major market players. It is projected that the high prevalence of obesity and cardiovascular diseases among the population will drive market growth over the forecast period.
Rising government support to implement new technology and enhance health facilities is expected to provide market participants with lucrative opportunities over the forecast period. Owing to the increasing investments in aesthetic procedures, the rising number of cosmetic surgeries is expected to boost demand for the devices. Increasing public understanding of advanced surgical procedures provides market players with growth opportunities.
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Over the projected period, the shortage of trained practitioners and the high cost of surgery may become challenges to market growth. The growth of the industry is expected to be strained by strict government rules and regulations regarding product approval. Growing number of product recalls due to safety concerns would also limit the growth of the industry.
In the year 2019, North America dominated the market. The presence of a large number of players and the high level of competition in the area can be attributed to this. During the forecast period, high adoption rates of advanced technologies and the presence of skilled professionals are projected to drive market growth.
Key Highlights From The Report
- The launch of the DIRECTSENSETM technology was announced by Boston Scientific in June 2020. The technology is used for monitoring the impact of energy delivery by radio frequency (RF) during cardiac ablation procedures.
- Owing to the broad use of the bipolar method in cases relating to neurosurgery or otolaryngology, the bipolar sub-segment had the largest market share of 61.5% in the year 2019.
- There are many risks to monopolar systems, including accidental burns, tissue stimulation and current shunting, while bipolar treatments are better, even for pacemaker patients. In sensitive cases, including those related to neurology, ophthalmology, and otolaryngology, the bipolar category is expected to experience growth with its growing applications.
- The active electrodes sub-segment are expected to expand over the forecast period with the CAGR of 6.4% due to the growing technological development of active electrodes.
- Due to the rise in demand for minimally invasive procedures, the general surgery sub-segment accounted for the largest market share in electrosurgical devices industry in 2019.
- Due to rising government initiatives to develop healthcare infrastructure, the Asia Pacific region is projected to be the fastest-growing region during the forecast period.
- Key participants include Olympus Corporation, Covidien PLC, Boston Scientific, Ethicon, Inc., B. Braun Melsungen AG, Bovie Medical Corporation, Smith and Nephew, Medtronic PLC, Johnson & Johnson, and Conmed Corporation, among others.
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Emergen Research has segmented the global electrosurgical devices market on the basis of method, product, surgery type, and region:
Method Outlook (Revenue, USD Billion; 2017-2027)
Product Outlook (Revenue, USD Billion; 2017-2027)
- Active electrodes
- Electrosurgical Generators
- Dispersive Electrodes
- Electrosurgical Instruments and Accessories
Surgery Type Outlook (Revenue, USD Billion; 2017-2027)
- General surgery
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Regional Outlook (Revenue, USD Billion; 2017-2027)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- Rest of MEA
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About Emergen Research
Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
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