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
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.
There are stringent sets of regulations pertaining to manufacturing and delivery of medical devices, thereby creating obstacles in the growth of the market.
Our-in depth analysis of the global electrosurgical device market includes the following segments:
By End Use
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.
The global electrosurgical device market is further classified on the basis of region as follows:
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