Ultrasonic Energy Surgical Device Market Analysis North America, Europe, Asia, Rest of World (ROW) - US, Germany, UK, China, Japan - Size and Forecast 2024-2028

Ultrasonic Energy Surgical Device Market Forecast 2024-2028

The Global Ultrasonic Energy Surgical Device Market size is forecast to increase by USD 1.30 billion, at a CAGR of 6.33% between 2023 and 2028. 

There has been a significant shift from open surgical procedures to minimally invasive surgeries across the globe. In addition, healthcare providers, governments, patients, and other key stakeholders have promoted the shift from traditional open surgical techniques, which are more painful and need an extended hospital stay, to minimally invasive surgical techniques that need a shorter hospital stay and involve less pain. Moreover, the increased demand for such techniques is attributed to the growing complications associated with traditional open surgeries. Hence, such factors are positively impacting the market.

What will be the Size of the Market During the Forecast Period?

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Segmentation by Product, End-user, and Geography Analysis

Product Analysis

The consumables segment is estimated to witness significant growth during the forecast period. The consumables segment is related to ultrasonic energy surgical devices comprising items that are used during surgeries. In addition, these items include surgical blades and handheld devices. Furthermore, the major factors contributing to the growth of the consumables segment are the increasing geriatric population coupled with the prevalence of chronic diseases and an increase in the number of surgeries.

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The consumables segment was the largest segment and was valued at USD 1.69 billion in 2018. Moreover, according to the CDC's statistics, as of 2020, about 133 million people in the US had one or more chronic disease conditions, of which around 80% had cardiovascular diseases (CVDs) and chronic respiratory diseases. In addition, the high incidence of colorectal cancer, ulcerative colitis, orthopedic diseases and conditions, and gynecological disorders is expected to propel the growth of the consumables segment.  Hence, such factors are fuelling the growth of this segment which in turn drives the market during the forecast period.

End-user Analysis

The hospital segment is considered one of the key end-users as they use different ultrasonic energy surgical devices in surgical procedures. In addition, these include multi-specialty hospitals, private hospitals, and hospital groups that work with government and private entities. Moreover, other types of hospitals are mid-sized hospitals and small hospitals that have a limited number of supplier groups. Thus, only a limited number of procedures are performed in mid-sized hospitals using ultrasonic energy surgical devices. Furthermore, increasing investments in improving healthcare infrastructure will help the segment grow during the forecast period. 

Ambulatory surgical centers (ASCs) segment use liposuction devices in outpatient settings, which reduces the cost burden on patients. In addition, the treatment and procedures carried out in ASCs generally do not require an overnight stay of patients at these facilities. Moreover, ASCs have a limited number of suppliers and often require third-party laboratory testing support and medical equipment for their healthcare services. Furthermore, other factors, like the rise in the geriatric population and increasing disposable income, mostly among the older adult population, necessitate prompt medical attention. Hence, such factors are fueling the growth of this segment, which in turn drives the market during the forecast period.

Regional Analysis

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North America is estimated to contribute 35% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that will shape the market during the forecast period. The US is a significant contributor to the market in focus in North America, due to the high popularity of minimally invasive surgery (MIS), the high adoption of technologically advanced healthcare products, and the growing expenditure on healthcare, including surgical procedures.

Moreover, the growing geriatric population, the increasing prevalence of chronic diseases, and new product launches are contributing to the market in the region. In addition, according to the Centers for Disease Control and Prevention (CDC)'s statistics, as of 2020, about 133 million people in the US had one or more chronic disease conditions, of which around 80% had cardiovascular diseases (CVDs) and chronic respiratory diseases. Furthermore, the high incidence of colorectal cancer, ulcerative colitis, orthopedic surgeries, and gynecological surgeries is expected to drive the growth of the market in North America during the forecast period. Phacoemulsification devices, essential for cataract surgery, are also pivotal in enhancing healthcare outcomes for the aging population, further bolstering market demand and innovation in ophthalmic surgical procedures.

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Key Market Players 

Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market. The report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:

Bioventus LLC: The company offers ultrasonic energy surgical devices such as neXus Ultrasonic Surgical Aspirator system optimized for hard and soft tissue removal, BoneScalpel and BoneScalpel Access for osteotomies and SonaStar for precision removal of soft tissue. 

Beijing Taktvoll Technology Co. Ltd., BOWA Electronic GmbH and Co. KG, Changzhou Lookmed Medical Instrument Co. Ltd., DAIWHA CORP LTD, ESACROM SRL, FINANCIERE ACTEON SAS, Genesis Medtech International Pvt. Ltd., Hangzhou Rex Medical Instrument Co. Ltd., Hubei CFULL Medical Technology Co. Ltd., Innolcon Medical Technology Suzhou Co. Ltd., Integra Lifesciences Corp., Johnson and Johnson Services Inc., Medtronic, Miconvey, Olympus Corp., SMTP Technology Co. Ltd., Sonablate Corp., Soring GmbH, and Trimpeks Ith. Ihr. Tur. ve Tic.A.S.

Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

Market Dynamics and Customer Landscape

The global market is witnessing robust growth driven by key factors such as the increasing adoption of minimally invasive surgeries and the rising prevalence of chronic diseases, particularly cancer and breast cancer. Market players are focusing on enhancing patient safety through strategic initiatives and continuous technological development. However, challenges include addressing the risks of infections associated with surgeries, tackling road accidents, and catering to the healthcare needs of an aging population. Managing healthcare expenditures and meeting the demands of the geriatric population are critical drivers in shaping the trends of the ultrasonic energy surgical device market. Our researchers analyzed the market research and growth data with 2023  as the base year, along with the key market growth analysis, trends, and challenges. A holistic analysis of drivers, trends, and challenges will help companies refine their marketing strategies to gain a competitive advantage. 

Key Drivers

High growth potential in emerging economies is notably driving market growth. The growth of the global ultrasonic electrosurgical devices market is significantly propelled by the pivotal role played by emerging economies. Market players are strategically expanding their businesses in these economies to broaden their presence and generate substantial revenue. 

In the realm of ultrasonic electrosurgical devices, market players are actively contributing to advancements in procedures, including minimally invasive surgeries, laparoscopy, and addressing chronic diseases such as cancer, notably breast cancer. The market's emphasis on patient safety, strategic initiatives, and technological development underscores its commitment to advanced solutions. This includes mitigating the risk of infections, addressing the challenges associated with noninvasive surgeries, and tackling road accidents, particularly in the context of an aging population. Furthermore, the market is navigating evolving trends in healthcare expenditure, catering to the geriatric population, and aligning with the growing demand for innovative surgical solutions. Hence, such factors are driving the market during the forecast period.

Significant  Trends

Growing demand for single-use surgical instruments is an emerging trend in the market. Ultrasonic energy surgical devices play a major role in surgical procedures and are available in both disposable and reusable categories. In addition, the market players are offering several single-use ultrasonic surgical devices to reduce the risk of surgical site infections (SSIs) and lower the chances of contamination. Furthermore, the use of such instruments reduces the disease burden, and length of the hospital stays significantly.

For instance, Ethicon, a subsidiary of Johnson and Johnson, provides ENDOPATH XCEL Trocars, which are sterile and single-patient use devices with an obturator, radiolucent sleeve, and an optional pistol handle. In addition, they are available in different variants, such as bladeless tips, blunt tips, and dilating tips. Furthermore, piezoelectric ultrasonic surgical scalpels are used extensively in emergency and trauma departments for the creation of incisions for chest drains, opening up coronary arteries, and removing calcifications. Piezoelectric technology enhances surgical precision by converting electrical energy into mechanical vibrations, offering advantages in delicate procedures. Hence, such factors are driving the market during the forecast period.

Major Challenges

The lack of medical professionals with expertise in using ultrasonic energy surgical devices is a major challenge hindering the market. Surgical training is changing tremendously and is hampered by ethical and legal concerns for patient safety. In addition, at present, both developed and emerging economies are experiencing a severe shortage of highly skilled surgeons, physicians, and technicians.

Moreover, most emerging economies are facing a shortage of medical professionals trained in different surgical specialties. In addition, this is due to an increase in the number of experienced healthcare professionals who are nearing retirement. Furthermore, the shortage of qualified surgeons will increase the complications and risks during surgeries. Hence, such factors are hindering the market during the forecast period.

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Key Market Customer Landscape

The market report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

 Customer Landscape

Segment Overview

The market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018 to 2028. 

• Product Outlook
  • Consumables
  • Generators
• End-user Outlook
  • Hospital
  • Ambulatory surgical centers
• Region Outlook
  • North America
    • The U.S.
    • Canada
  • Europe
    • U.K.
    • Germany
    • France
    • Rest of Europe
  • Asia
    • China
    • India
  • Rest of the World (ROW)
    • Australia
    • Argentina
    • Brazil

Market Analyst Overview

The Market is witnessing growth driven by the increasing adoption of laparoscopy and strategic initiatives in technological development. The demand for noninvasive surgeries is rising, addressing concerns related to the risk of infections. Factors such as road accidents, an aging population, and healthcare expenditures contribute to market expansion. Notably, ultrasonic electrosurgical consumables, including handpieces, electrodes, scalpels, forceps, and pencils, play a crucial role. The Ultrasonic Electrosurgical Generator segment incorporates high-intensity focused ultrasonic (HIFU) ablators and surgical ablation systems, benefiting cardiology and gynecology applications. Additionally, ultrasonic dissection devices find applications in laparoscopic procedures, prostate surgery, and orthopedic surgery.

The market's scope extends to tissues, high-frequency ultrasonic energy, and tools like monopolar and bipolar electrocautery tools. The incorporation of ergonomic designs in ultrasonic energy surgical devices enhances clinical advantages, supporting minimally invasive surgical procedures across various specialties, including robotic-assisted surgical procedures. The versatility of applications spans from addressing chronic disorders to specialized treatments in areas like male pattern baldness and hair transplants, emphasizing the market's potential in diverse clinical settings, including specialty clinics. The Market is driven by factors such as the rising incidence of cancers (breast, colon, prostate, and lung) as reported by organizations like the US Census Bureau, National Cancer Institute, and American Cancer Society. Health initiatives and government spending further contribute to market growth. The Ultrasonic Electrosurgical Consumable segment, comprising handpieces, electrodes, scalpels, forceps, and pencils, plays a pivotal role. The market encompasses ultrasonic surgical ablation systems, ultrasonic ablators, and shock wave therapy systems. In client demographics, the market caters to diverse applications, including open surgery and the laparoscopic surgery segment. Specialty clinics find significance in the market, emphasizing the adaptability of ultrasonic energy surgical devices across various medical settings.

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What are the Key Data Covered in this Market Research Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the between 2023 and 2028
• Precise estimation of the size and its contribution to the market in focus on the parent market
• Detailed analysis of customer landscape covering Diver of price sensitivity, Adoption of the lifecycle, and key purchase criteria 
• Companies landscape comparing criticality of inputs and factors of differentiation
• Exclusive Matrix on companies position and classification
• Accurate predictions about upcoming market trends and changes in consumer behavior
• Growth of the market across North America, Europe, Asia, and the Rest of the World (ROW)
• Thorough analysis of the market’s competitive landscape and detailed information about companies
• Comprehensive market growth and forecasting analysis of factors that will challenge the growth of companies

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