The global electrosurgery devices market size has the potential to grow by USD 1.2 billion during 2020-2024. The market’s growth momentum will accelerate throughout the forecast period because of the steady increase in year-over-year growth.
This report provides a detailed analysis of the market by product (electrosurgery instruments and accessories, electrosurgery generators, and argon and smoke management systems) and geography (Asia, Europe, North America, and ROW). Also, the report analyzes the market’s competitive landscape and offers information on several market vendors, including B. Braun Melsungen AG, BOWA-electronic GmbH & Co. KG, CONMED Corp., Erbe Elektromedizin GmbH, Johnson & Johnson Services Inc., KLS Martin Group, Medtronic Plc, Olympus Corp., Stryker Corp., and Symmetry Surgical Inc.
Market Overview
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Market Competitive Analysis
The electrosurgery devices market is currently fragmented. The degree of fragmentation will remain the same over the forecast period. The trending medical tourism in emerging economies is providing market vendors with significant growth opportunities. The trend is allowing them to penetrate untapped markets in counties such as India, Mexico, Brazil, Thailand, Costa Rica, and others. Vendors are further focusing on strengthening their positions in such markets through partnerships with healthcare facilities, which is also increasing their sales. Olympus Corp., Stryker Corp., and Symmetry Surgical Inc. are a few of the significant market participants. Although the wide application of electrosurgery devices will offer immense business opportunities to vendors, the availability of alternative techniques will challenge the growth of many. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
To help clients improve their market positions, this electrosurgery devices market forecast report provides a detailed analysis of the market leaders and offers information on the competencies and capacities of the companies. The report also covers details on the market’s competitive landscape and offers information on the products offered by various companies. This electrosurgery devices market analysis report also provides information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of their future growth opportunities.
This report provides information on the production, sustainability, and prospects of several leading electrosurgery devices companies, including:
- B. Braun Melsungen AG
- BOWA-electronic GmbH & Co. KG
- CONMED Corp.
- Erbe Elektromedizin GmbH
- Johnson & Johnson Services Inc.
- KLS Martin Group
- Medtronic Plc
- Olympus Corp.
- Stryker Corp.
- Symmetry Surgical Inc.
Electrosurgery Devices Market: Segmentation by Region
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North America accounted for the largest market share in 2019, and the region will offer several growth opportunities to vendors over the forecast period. The rising number of orthopedic, ophthalmic, and cardiac procedures and the presence of established vendors are some of the significant factors fueling the growth of the electrosurgery devices market in North America. The availability of favorable insurance coverage is also increasing patient adherence to electrosurgeries, contributing to market growth.
Over 36% of the overall market’s growth will originate from North America during the forecast period. The US and Canada are the key markets for electrosurgery devices in the region. The market growth rate in this region will be slower than that of Asia and ROW over the forecast period.
Electrosurgery Devices Market: Segmentation by Product
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Electrosurgery instruments and accessories are crucial to perform electrosurgeries. Therefore, the sales of electrosurgery accessories such as suction coagulators, cords, adapters, footswitches, and surgical knives are increasing. Modern electrosurgery equipment such as forceps, electrosurgery pencils, and vessel sealing (used to seal blood vessels) has also recorded increased sales. As a result, the electrosurgery devices market growth by the electrosurgery instruments and accessories segment will be significant over the forecast period.
The growth rate of the market in the electrosurgery instruments and accessories segment is expected to be higher compared to the other segments over the forecast period. This report provides an accurate prediction of the contribution of all the segments to the growth of the electrosurgery devices market size.
Electrosurgery Devices Market: Key Drivers and Trends
Electrosurgery devices are currently being used across general, orthopedic, gynecological, cardiovascular, cosmetic, and neurological surgical applications. As a result, vendors are recording increased revenue generation, contributing to electrosurgery devices market growth. Among the mentioned surgical applications, the use of electrosurgery devices has become prevalent in cardiac surgeries. This is primarily because electrosurgery devices are precise and quick in bloodless preparation of internal thoracic artery grafts, minimizing endothelial damage. These devices can also perform simple electrodesiccation of small lesions with negligible risks on relatively healthy patients with pacemakers. Moreover, many health insurance policymakers and governments are offering favorable reimbursement plans for patients to avail electrosurgery services easily.
- Minimally invasive (MI) procedures have gained popularity over conventional open and laparoscopic surgeries as they have better cosmetic outcomes.
- As bleeding is one of the major challenges associated with MI surgeries, electrosurgical techniques are being used for such procedures to induce hemostasis, which is one of the key electrosurgery devices market trends.
- In endoscopic MI procedures, bipolar electrosurgical instruments are preferred to protect sensitive and critical anatomical structures.
- The use of electrosurgery devices is essential during complex surgeries on highly vascular structures as they facilitate precise hemostatic control.
- The market will grow at a CAGR of over 4% during 2020-2024.
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Electrosurgery Devices Market: Key Highlights of the Report for the Forecast Period 2020-2024
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will accelerate the growth of the electrosurgery devices market during the next five years
- Precise estimation of the global electrosurgery devices market size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- The growth of the electrosurgery devices industry in Asia, Europe, North America, and ROW
- A thorough analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of electrosurgery devices vendors
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