Bipolar Electrosurgical Device Market Overview
Electrosurgery is an application of high-frequency alternating polarity. In electrosurgery the tissue is heated by an electric current. In bipolar electrosurgical devices the current is applied using similar sized electrodes. The bipolar electrosurgical devices are extensively used in various applications by the surgeons. Bipolar electrosurgical device are used in dermatology, cardiac, orthopedic and other surgical procedures.
Market Size and Forecast
Global bipolar electrosurgical device market is anticipated to flourish at a CAGR of 5.5% over the forecast period. Further, the factors propelling the growth of bipolar electrosurgical device market include advancement in healthcare technology and rising demand for safe surgical devices.
In terms of geography, North America accounted for the largest market of bipolar electrosurgical device in terms of revenue in 2016. Moreover, North America is expected to continue its dominance by the end of 2024 owing to rising healthcare expenditure. U.S. and Canada are the dominating countries in this region due to rising demand for minimally invasive surgeries. Additionally, presence of major key players of electrosurgical device in this region is envisioned to foster the growth of bipolar electrosurgical device market.
Europe region captured the second largest market of bipolar electrosurgical device owing to increasing adoption of technologically advanced healthcare devices. The major countries witnessing the augmented demand for bipolar electrosurgical device are U.K. and France. Further, presence of skilled professionals and growing adoption of innovative technologies in this region are believed to bolster the growth of electrosurgical devices.
Asia-Pacific region is projected to witness a tremendous growth during the forecast period due to emerging economies nations such as China and India. In addition to this, growing number of diseases and rising geriatric population in this region is anticipated to propel the growth of electrosurgical devices market. Likely, China has been the dominating country owing to growing demand for effective surgical procedures.
Our in-depth analysis has segmented global bipolar electrosurgical device market into the following segments:
Global bipolar electrosurgical device market is further classified on the basis of region as follows:
Growth Drivers and Challenges
Factors such as growing number of diseases, rising demand for minimally invasive surgeries and growing ambulatory surgery services are envisioned to be the dynamic factor behind the rapid growth of bipolar electrosurgical device market over across the globe. Moreover, rising adoption of technologically advanced surgery devices in developing nations to provide better effective surgical procedures is believed to foster the growth of bipolar electrosurgical device market by the end of 2024.
Furthermore, rising healthcare expenditure across the globe and increasing prevalence of chronic diseases are projected to propel the growth of bipolar electrosurgical device market. Likely, rapid urbanization and growing GDP figures of the developed and developing nations are also expected to flourish the growth of bipolar electrosurgical device market. Additionally, growing demand for bipolar electrosurgical devices for sensitive cases such as neurology, ophthalmology, and otolaryngology is believed to impel the growth of bipolar electrosurgical device market. However, high cost associated with the bipolar electrosurgical devices is anticipated to hinder the growth of bipolar electrosurgical device market. Moreover, risk of side effects related to bipolar electrosurgical devices is projected to hamper the growth of bipolar electrosurgical devices market.
Scope and Context
Overview of the Parent Market
The global bipolar electrosurgical device market is segmented as follows:
Supply & Demand Risk
Porter’s Five Force Model
Geographical Economic Activity
Key Players (respective SWOT Analysis) and their Strategies and Product Portfolio
Recent Trends and Developments
Industry Growth Drivers and Challenges
Key Information for Players to establish themselves in current dynamic environment
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