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The global Electrosurgical Devices market size is expected to attain a market size of $5.3billion by 2022, growing at a CAGR of 6.2% during the forecast period.
Electrosurgical devices are used to fulgurate, cut, coagulate and desiccate tissue during surgical procedures. These devices are mainly used in different types of electrosurgical procedures namely cardiac, maxillofacial, orthopedic, ocular, plastic, and neurosurgical.. These devices are mostly preferred in the surgical procedures due to its ability to make precise cut with limited blood loss. Recently, Ethicon Endo-Surgery, Inc. has announced the acquisition of a Megadyne Medical Products, Inc. (Electrosurgical tools manufacturing company). With Ethicon?s extended global network, both companies are able to bring innovative electrosurgical tools in the market.Rise in number of surgical procedures are one of the major driving factor for electrosurgical devices market.
According to the data provided by Aesthetic Surgeons? Financial Group (ASFG) in 2016, ?25,478 abdominoplasties, 11,300 facelift procedures, 31,000 liposuction procedures were performed in the year 2016 and 57% per cent of all patients went under breast surgery?. Additionally, technological advancements, increasing demand for minimally invasive surgeries, investment in healthcare infrastructure and rise in the demand for non-elective surgeries are also driving the growth of electrosurgical devices market. Rise in the bariatric procedures could be expected due to growing obesity. Hence, it would be great opportunity for market. Additionally Emerging computer assisted or robotic minimally invasive surgeries are growing the demand for electrosurgical devices market. However, healthcare reforms going in the U.S and risk associated with the usage of electrosurgical devices are some of the factors could restraint the growth for electrosurgical devices market.
The Electrosurgical market size has been segmented on the basis of product, application and geography. On the basis of the product, the market is divided into three segments such as electrosurgical generators, argon & smoke management systems, and electrosurgical instruments & accessories. Electrosurgical devices are divided in two terms bipolar and monopolar. In Bipolar electrosurgery, active and returned electrode functions are performed at the site of surgery. Monopolar have its most common use in electrosurgical modality. . Bipolar instrument includes bipolar forceps and advanced vessel sealing instruments. Monopolar instruments have four categories namely electrosurgical electrodes, electrosurgical pencils, suction coagulators and monopolar forceps. These devices are mostly preferred in the surgical procedures due to its ability to make precise cut with limited blood loss. On the other hand, electrosurgical accessories is further divided into four categories namely electrodes, patient return electrode or dispersive, cords, cables, adapters and others (carts & cleaners). Based on Application, the market is segmented into eight categories such as gynecology surgery, general surgery, cosmetic surgery, neurosurgery, urologic surgery, cardiovascular surgery, orthopedic surgery and others (ENT, ophthalmic surgeries and dermatology). Based on geography, it is sub-divided into North America, Europe, Asia-Pacific and LAMEA (Latin America, Middle East and Africa). Asian Regions are also playing vital role in the growth of electrosurgical devices market. Rise in disposable incomes, increasing government spending on healthcare sector, and increase in the number of chronic diseases are some of the major reasons for the rising demand of medical devices in Asian regions. Currently, Japan is promoting Universal Health Coverage worldwide for high-quality and more affordable health services. In Addition, Medical Manufacturing Asia 2016 has also come up with new and innovative technologies in healthcare sectors. Hence, Asia-Pacific is also expected to raise the demand for electrosurgical devices market globally.
The Electrosurgical Devices market analysis report covers the analysis of key stake holders of the Electrosurgical Devices market. Key companies profiled in the report include Olympus Corporation, Conmed Corporation, Medtronic Plc, Johnson & Johnson, Bovie Medical Corporation, Utah Medical Products, Inc, KLS Martin Group, B. Braun and Erbe Elektromedizin GmbH.