Research Nester published a report titled “Electro Surgical Device Market: Global Consumption and Consumer Analysis 2027” which delivers detailed overview of the electro surgical device market in terms of market segmentation by product, by application, by end users and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
Use of electro surgical devices has grown considerably in the recent years owing to the rise in the number of surgeries globally. Moreover, increase in the geriatric population and technological advancements in the field of electro surgery devices are anticipated to propel the market growth in the near future.
The global electrosurgical device market is anticipated to record a CAGR of around 6.1% over the forecast period i.e. 2019-2027. The market is segmented by product into electro surgery generator, argon and smoke management systems, electro surgery instruments and electro surgery accessories, out of which, the electro surgery instruments & accessories segment is anticipated to hold highest shares owing to rising adoption of electro surgical instruments in numerous surgeries along with increase in the number of surgical procedures across the world.
Regionally, the market in Asia Pacific region is expected to show highest growth followed by Europe on the back of growing initiatives and investments by major key players in R&D activities pertaining to electrosurgical devices in these regions. The market in North America region is expected to witness significant growth owing to increase in investments and innovations in this market along with rising number of surgeries. The market in U.S. is anticipated to hold largest market share in the overall North America market on the back of growing technological advancements and increasing number of surgical procedures.
Rise in the Geriatric Population
Growing geriatric population which is more prone to cardiovascular, cancer, obesity, gastric diseases, intestinal illnesses and other diseases is expected to contribute to the growth of the market. The increasing prevalence of the diseases couple with rising public awareness is anticipated to positively boost the growth of the market. Furthermore, factors such as rising demand for minimally invasive surgeries and increasing government initiatives in order to improve healthcare services is predicted to propel the growth of the market during the forecast period.
However, stringent laws and regulations related to electrosurgical devices are expected to operate as key restraints to the growth of global electro surgical device market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the electro surgical device market which includes company profiling of Boston Scientific Corporation, ERBE Elektromedizin GmbH, Olympus Medical Systems Corp., Bovie Medical Corporation, Symmetry Surgical Inc., Braun Melsungen AG, Megadyne Medical Products Inc., and Medtronic Plc. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the electrosurgical device market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.