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HEALTHCARE & PHARMACEUTICAL

Electrosurgical Device Market Segmentation By Product (Electro Surgery Generator, Electro Surgery Instruments [Bipolar and Monopolar], Electro Surgery Accessories [Patient Return Electrodes, Cords, Cables, Adaptors and Others], Argon & Smoke Management Systems); By Application (General Surgery, Cardiology, Gynecology, Urology, Dermatology, Cosmetology and Others); By End Users – Global Consumption and Consumer Analysis 2027

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Extensive insights into the Growth of Electrosurgical Device Market amidst COVID-19

Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.

Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.

We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.

In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months.                                                         Request Insights

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Introduction to Electrosurgical Device

Electrosurgical devices are used in various surgeries such as general surgery, neurosurgery, and orthopedic surgeries among others. These devices are used to cut, dissect, coagulate, fulgurate and shrink tissues during a surgical procedure. The devices such as probes, electrodes, coagulators and other devices use high frequency current in order to carry out their respective functions. They are utilized for surgical cutting or managing the blood loss during a surgical procedure and are used in various medical applications such as gastroenterology, gynecology, abdominal surgery and others. There are two types of electro surgery devices; bipolar and monopolar devices that offer enhanced safety during the surgery.

Market Size and Forecast

In recent years, the use of electro surgical devices has grown considerably 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, application & end users. The product segment is further bifurcated into electro surgery generator, argon and smoke management systems, electro surgery instruments (bipolar and monopolar), electro surgery accessories (patient return electrodes, cords, cables, adaptors and others). Among these segments, the electro surgery instruments & accessories segment is anticipated to have leading shares on account of increase in the adoption of electro surgical instruments in various surgeries and rise in the number of surgical procedures across the world.

The market is further segmented by application into general surgery, cardiology, gynecology, urology, dermatology, cosmetology and others, out of which, the general surgery segment is anticipated to have leading shares on account of high adoption of these devices in general surgeries.

On the basis of end use industry, the market is segmented into hospitals, specialized clinics, ambulatory surgical centers and others. Among these segments, the hospital segment is anticipated to have highest shares owing to the availability of high specialty treatments in the hospitals, which is further increasing the demand for these devices.

Rising demand for minimally invasive procedures such as cosmetics and aesthetics and benefits of non-invasive treatments such as speedy recovery, decreased hospitalization and curtailed risk of infections is contributing to the growth of the market. Improvement of these instruments by the industry players is expected to boost the business growth.CLICK TO DOWNLOAD FREE SAMPLE

Growth Drivers

Rise in Geriatric Population

Significant increase in the geriatric population which is susceptible to various diseases such as cardiovascular, cancer, obesity, gastric diseases, intestinal illnesses and others is expected to contribute to the growth of the market. Stroke is one of the major reason of deaths which accounts for 11.13% of total deaths globally. Moreover, increase in the prevalence of the diseases and rising public awareness is expected to impel the growth of the market. Furthermore, factors such as rising demand for minimally invasive surgeries and increasing government initiatives in order to improve services in healthcare industry are expected to propel the growth of the market during the forecast period.

Restraints

Stringent Regulations

There are stringent sets of regulations pertaining to manufacturing and delivery of medical devices, thereby creating obstacles in the growth of the market.

Market Segmentation

Our-in depth analysis of the global electrosurgical device market includes the following segments:

By Product

  • Electro Surgery Generator
  • Electro Surgery Instruments 
    • Bipolar
    • Monopolar
  • Electro Surgery Accessories 
    • Patient Return Electrodes
    • Cords
    • Cables
    • Adaptors
  • Argon and Smoke Management Systems
  • Others

By Application

  • General Surgery
  • Cardiology
  • Gynecology
  • Urology
  • Dermatology
  • Cosmetology
  • Others

By End Use

  • Hospitals
  • Specialized Clinics
  • Ambulatory Surgical Centers
  • Others

By Region

On the basis of regional analysis, the global electrosurgical device market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.

The market in Asia Pacific region is expected to show highest growth followed by Europe owing to huge investments in R&D activities by major market players in these regions. The North America market is estimated to witness significant growth on account of increasing investments and innovations in this market combined with growing number of surgeries in this region. U.S. is estimated to hold highest market shares in this region which can be attributed to rise in technological advancements, increasing surgical procedures and high healthcare expenditure.

Electrosurgical Device market Graph

The global electrosurgical device market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC,  Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
  • Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Opportunity Analysis.
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth & Opportunity Analysis

Top Featured Companies Dominating the Market

  • Boston Scientific Corporation
  • Company Overview
  • Business Strategy
  • Key Product Offerings
  • Financial Performance
  • Key Performance Indicators
  • Risk Analysis
  • Recent Development
  • Regional Presence
  • SWOT Analysis
  • ERBE Elektromedizin GmbH
  • Olympus Medical Systems Corp.
  • Bovie Medical Corporation
  • Symmetry Surgical Inc.
  • Braun Melsungen AG
  • Megadyne Medical Products Inc.
  • Medtronic Plc.

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