Pune, 14, Dec, 2022: The report analysed by Maximize Market Research, the global medical devices market research firm. Electrosurgery Market covers an extensive competitive landscape, demand and pricing analysis in the report. North America held the largest market share and is expected to grow with increased adoption of technological advancements. During the Forecast period, the report expects the market to grow from USD 5.8 billion in 2021 to USD 9.31 billion in 2029 at a CAGR of 6.1 percent.
Electrosurgery Market Scope and Research Methodology
The report is an in-depth analysis of all the key players in the Electrosurgery Market by market share, revenue, market penetration, financial status and region. Current trends prevailing in the Electrosurgery Market are presented and historical data is used to forecast growth rate fluctuations to equip stakeholders, investors, market key players and followers about future market conditions. The Electrosurgery Market is segmented by product, application and end-users for a detailed analysis for understanding the market penetration, competitive structure, pricing and demand analysis. The report aids the formulation of strategic decision-making and finding investment pockets for businesses.
For the competitive landscape, major players and new entrants in the Electrosurgery Market are collated based on the equipment offered, portfolio, technological advancements adopted, mergers and acquisitions, joint ventures and strategic alliances. With each company profile, recommendations are provided on investments and estimations of their market size for the forecast period. New entrants can use the report to understand the future course of the Electrosurgery Market.
The bottom-up approach was employed to validate the market size and its estimation by different segments. Data was collected using both primary and secondary data collection methods for the analysis. Methods such as surveys, administering questionnaires and telephonic interviews with industry specialists, market leaders, entrepreneurs, marketing professionals, customers and retailers on the demand side and manufacturers, and wholesalers on the supply side were included in the primary methods. Secondary data was methodically collected from a curated selection of sources to ensure the reliability of the inferences. This includes official databases of various organisations and government sites, industry journals, white papers, annual reports, releases of product manufacturers and suppliers in the industry along with paid databases.
Porter’s Five Forces analysis is a tool that is simple and powerful that was used in understanding the primary sources of competition in a market. It helped to drive deeper into the industry to tweak client strategy according to the current market scenario, increase the profit margin and stay a step ahead of the competitors in the market. SWOT analysis was conducted to provide the strengths and weaknesses of the Electrosurgery Market while PESTLE was employed to understand the potential impact of the macro-economic, social, political and technological factors affecting the Electrosurgery Market.
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Electrosurgery Market Overview
Electrosurgery is the coagulating or cutting of tissue with the use of high-frequency altering electric current. These frequencies create localized hating that produces precise cuts without any bleeding. At this frequency, however, muscles and nerves remained unaffected. It is commonly used in Gastroenterology, General Surgery, Ob-Gyn, ENT, Pulmonary Medicine, dermatology and endoscopy.
Electrosurgery Market Dynamics
Electrosurgeries provide the least amount of cuts and incisions which reduces the cost of operation and provides for a quicker recovery. The treatment is effective against a variety of illnesses which include liver cancer, heart valve abnormalities, ophthalmic disorders and spine surgeries. Its increased applications along with these factors have led to the growth of the Electrosurgery Market.
Laparoscopic surgeries or minimally invasive surgeries are gaining popularity due to lower costs, and lower risk of infection given the less blood loss and short postoperative period. Surgeries such as Cosmetic, cardiovascular and gynaecological require precise cuts quickly. These surgeries are possible due to the use of Electrosurgery tools like generators and active electrodes. This surge is expected to drive the Electrosurgery Market growth during the forecast period.
Electrosurgery Market Regional Insights
North America held the largest market share on the account of the concentration of major market players in the region and the aggressive competition. This increased the innovations in the market to differentiate their products. Adoption of cutting-edge technology is also expected to drive the regional Electrosurgery Market growth. Government policies along with a strong healthcare system are factors encouraging growth in the regional Electrosurgery Market.
Asia-Pacific region is expected to witness regional growth on account of economic development, an influx of FDIs, medical tourism and increasing adoption of electrosurgery instruments.
Electrosurgery Market Segmentation:
By Surgery Type:
- General surgery
- Obstetric/gynecological surgery
- Urological surgery
- Orthopedic surgery
- Cardiovascular surgery
- Cosmetic surgery
- Oncological surgery
- Ambulatory Surgical Centers
By Product Type:
- Electrosurgical generators
- Active electrodes
- Dispersive electrodes
Electrosurgery Market Key Competitors include:
- Olympus Corporation
- Medtronic PLC
- B. Braun Melsungen AG
- Applied Medical Resources Corporation
- Ellman International, Inc.
- Conmed Corporation
- Bovie Medical Corporation
- Erbe Elektromedizin GmbH
- Johnson & Johnson
- Covidien plc
- KLC Martin Group
- Utah Medical Products, Inc.
- Kirwan Surgical Products
- Smith and Nephew
- Parkell, Inc.
- Megadyne Medical Products, Inc.
- ATMOS, Inc.
- XcelLance Medical Technologies Pvt. Ltd.
- Prima Medical
- Bowa-Electronic GmbH & Co. Kg
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Key questions answered in the Electrosurgery Market are:
- What is Electrosurgery?
- What is the current growth rate of the Electrosurgery Market?
- What is the growth rate of Electrosurgery Market for the next five years?
- What is the nature of competition in Electrosurgery industry in developed and developing economies?
- Who are the key players in the Electrosurgery Market?
- Who are the market leaders in Electrosurgery in Europe?
- Who are the market leaders in Electrosurgery in USA and Canada?
- Who are the market leaders in Electrosurgery in India, China, Japan and South Korea?
- What are the factors affecting growth in the Electrosurgery Market?
- Who held the largest market share in Electrosurgery Market?
- What are the factors for the growth of Asia-Pacific region in Electrosurgery Market?
- Market Share, Size & Forecast by Revenue | 2022−2029
- Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Key Trends
- Market Segmentation – A detailed analysis by Surgery Type, End-User, Product Type and Region
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
Maximize Market Research is leading medical devices research firm, has also published the following reports:
Endoscopy Equipment Market–The Endoscopy Equipment Market size is expected to reach USD 54 billion by 2029 at a CAGR of 8.5 percent during the forecast period. The Endoscopy Equipment Market is expected to be driven by high demand for endoscopy therapy and diagnosis and advancement in technology.
Laparoscopic Devices Market–The Laparoscopic Devices Market size is expected to reach USD 11.17 billion by 2029 at a CAGR of 6.6 percent during the forecast period. The Laparoscopic Devices Market is expected to be driven by increasing demand for minimally invasive surgeries the increase in illnesses on account of growth of the geriatric population.
Microscopy Market–The Microscopy Market size is expected to reach USD 17.20 billion by 2029 at a CAGR of 7.6 percent during the forecast period. The Microscopy Market is expected to be driven by rising focus on nanotechnology, regenerative medicines and technological advancements in the field.
About Maximize Market Research:
Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
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