The global electrosurgery devices market is projected to exhibit an above-average expansion during the forecast period 2017 to 2024, according to a new study by Fact.MR. Revenues from the electrosurgery devices market is estimated to reach roughly US$ 8,000 Mn by 2024-end.
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Numerous surgical procedures have witnessed transformation from traditional ways to adoption of various minimally-invasive techniques, with changing phase of medical sector. The number of elder population around the world has been witnessing a surge, along with rising healthcare coverage. According to statistics offered by the WHO, global elder population is expected to account for approximately 2 Bn by 2050-end. The elder population is becoming highly prone to several diseases such as cardiac arrests, gastrointestinal diseases, and cancer, which in turn has driven the demand for minimally invasive techniques in order to treat patients who prefer to avoid hospital stay as well as healing time. High unmet needs for minimally invasive procedures are offering huge scope for expansion of the global market for electrosurgery devices.
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Electrosurgery devices find their application in various surgical procedures such as coagulation, devitalization, cutting, and thermofusion. Patients are now opting for electrosurgery on the back of their advantages which include faster recovery time, minimal chances of infection, low risk to patients, and easy to use. The governments across the globe are making investments in order to develop target-specific surgical devices, along with advanced medical treatment. Key players in the market are focusing on developing innovative electrosurgery devices. These players are also concentrating on development of new accessories and products, capable of providing improved tissue vaporization applications, multimodality application, and coagulation & cutting properties, in a bid to capitalize growth opportunities for the global electrosurgery devices market.
12 Key Estimations from Fact.MR’s Report on the Global Electrosurgery Devices Market
- By product type, more than half revenue share of the market is expected to be held by radiofrequency electrosurgery devices during 2017 and 2024.
- The radiofrequency electrosurgery devices will remain the top-selling product in the global market, with sales exhibiting the highest CAGR through 2024.
- Demand for ultrasonic electrosurgery devices will continue to be sluggish throughout the forecast period.
- On the basis of end-users, sales of electrosurgery devices in specialized clinics are estimated to register the fastest expansion through 2024.
- Hospitals are anticipated to remain the largest end-users of electrosurgery devices in the overall market.
- Revenues from ambulatory surgical centres are expected to account for over one-fourth share of the market throughout the forecast period. Ambulatory surgical centres are expected to become the second most lucrative end-users of electrosurgery devices by 2024-end.
- Sales of electrosurgery devices for application in gynecological surgery are expected to account for the largest revenues by 2024-end.
- Sales of electrosurgery devices in gynecological surgery, and urology applications are estimated to register a parallel expansion at 5.6% CAGR through 2024.
- Electrosurgery devices sales for application in dermatology is expected to register the highest CAGR through 2024.
- In terms of revenues, North America is estimated to be dominant in the global electrosurgery devices market in 2017, and this trend is further estimated to prevail over the forecast period.
- The market in Europe will continue to expand at a comparatively higher CAGR than North America through 2024.
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Key players profiled in Fact.MR’s report include Medtronic Plc, Bovie Medical Corporation, Johnson & Johnson Private Limited, Heal Force Bio-meditech Holdings Limited, Erbe Elektromedizin GmbH, B. Braun Melsungen AG, Boston Scientific Corporation, Stryker Corporation, Smith & Nephew, and AngioDynamics, Inc.
