The global electrosurgical devices market is estimated to grow at steady CAGR over the forecast period (2013 to 2025), according to a report available on Radiant Insights, Inc. Growing need for technologically advanced medical equipment offering minimally invasive surgeries can drive demand for electrosurgical devices.
Shifting consumer preference for electrosurgery over traditional surgical methods can augment growth of market. Rising cases of chronic disorders like cancer, diabetes, and obesity owing to increasing geriatric population can augment market expansion. Supportive government initiatives to promote use of electrosurgical instruments can stimulate market growth. Growing awareness regarding availability of safe and innovative surgical techniques effective in cutting, devitalization, coagulation, and thermofusion.
To cater to rising demand for advanced electrosurgical devices, most companies are likely to invest in R&D activities to develop new and innovative products. For instance, Olympus recently launched its new electrosurgical device named ESG-300 electrosurgery generator. The device can offer all kinds of modes and settings that are required by physicians while performing surgeries. In addition, it can offer novel technologies like SmartArgon mode that can automatically detect distance to tissue and can save surgical procedures. The design is expected to be user-friendly allowing physicians to select among various display languages.
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The electrosurgical devices market can be segregated on the basis of product, end-user, and region. Based on product, the market can be categorized into electrosurgical instruments & accessories, electrosurgery instruments, and electrosurgery accessories. Electrosurgical instruments and accessories segment is anticipated to grow at significant CAGR over the forecast period.
Based on end-user, the electrosurgical devices market can be classified into general surgery, gynecology surgery, urologic surgery, orthopedic surgery, cardiovascular surgery, cosmetic surgery, and neurosurgery. Orthopedic surgery segment is predicted to grow at substantial CAGR during the forecast period.
Regional segmentation of the electrosurgical devices market includes Asia Pacific, Europe, North America, Central & South America, and Middle East & Africa. North America dominated the market in the past attributed to existence of numerous key market players in the region. Growing adoption of innovative technology and availability of skilled labor can propel regional growth. In addition, rising cases of chronic disorders owing to geriatric population can also boost market expansion in the forthcoming years. Moreover, increasing healthcare expenditures and rising adoption of surgical procedures are anticipated to drive market growth over the forecast period.
In Asia Pacific, the electrosurgical devices market is predicted to witness highest CAGR over the forecast period owing to increasing use of minimally invasive surgical techniques. In addition, increasing foreign direct investment (FDI) coupled with presence of developing economies can drive regional growth. Moreover, rising cases of chronic disorders like cancer can influence market expansion in the forthcoming years.
European electrosurgical devices market is predicted to grow at steady CAGR during the forecast period attributed to increasing number of surgical procedures. Growing adoption of cosmetic and aesthetic surgeries among consumers can stimulate regional growth.
Some of the leading companies operating in the electrosurgical devices market are Medtronic, Johnson & Johnson, Bovie Medical, KLS Martin, and Olympus Corporation. The market is anticipated to be less competitive attributed to less number of market players. However, rising demand for new and innovative medical devices can create lucrative opportunities for new entrants. Advent of local players in developing economies like India and China can drive competition level in the market. Easy availability of raw materials and cheap labor in these countries can boost market growth over the forecast period.
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Table of Contents
1 Study Coverage
1.1 Electrosurgical Devices Product
1.2 Market Segments
1.3 Key Manufacturers Covered
1.4 Market by Type
1.4.1 Global Electrosurgical Devices Market Size Growth Rate by Product
1.4.2 Electrosurgical Instruments & Accessories
1.4.3 Electrosurgery Instruments
1.4.4 Electrosurgery Accessories
1.5 Market by End User
1.5.1 Global Electrosurgical Devices Market Size Growth Rate by End User
1.5.2 General Surgery
1.5.3 Gynecology Surgery
1.5.4 Urologic Surgery
1.5.5 Orthopedic Surgery
1.5.6 Cardiovascular Surgery
1.5.7 Cosmetic Surgery
1.5.9 Others (ENT, Dermatology, and Ophthalmic Surgeries)
1.6 Study Objectives
1.7 Years Considered
2 Executive Summary
2.1 Global Electrosurgical Devices Market Size
2.1.1 Global Electrosurgical Devices Revenue 2013-2025
2.1.2 Global Electrosurgical Devices Sales 2013-2025
2.2 Electrosurgical Devices Growth Rate by Regions
2.2.1 Global Electrosurgical Devices Sales by Regions
2.2.2 Global Electrosurgical Devices Revenue by Regions
3 Breakdown Data by Manufacturers
3.1 Electrosurgical Devices Sales by Manufacturers
3.1.1 Electrosurgical Devices Sales by Manufacturers
3.1.2 Electrosurgical Devices Sales Market Share by Manufacturers
3.1.3 Global Electrosurgical Devices Market Concentration Ratio (CR5 and HHI)
3.2 Electrosurgical Devices Revenue by Manufacturers
3.2.1 Electrosurgical Devices Revenue by Manufacturers (2013-2018)
3.2.2 Electrosurgical Devices Revenue Share by Manufacturers (2013-2018)
3.3 Electrosurgical Devices Price by Manufacturers
3.4 Electrosurgical Devices Manufacturing Base Distribution, Product Types
This report includes the estimation of market size for value (million US$) and volume (K Units). Both top-down and bottom-up approaches have been used to estimate and validate the market size of Electrosurgical Devices market, to estimate the size of various other dependent submarkets in the overall market. Key players in the market have been identified through secondary research, and their market shares have been determined through primary and secondary research. All percentage shares, splits, and breakdowns have been determined using secondary sources and verified primary sources.
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