Global Electrosurgical Devices Market Expected To Observer Major Growth By 2027
Category: #business  By Ronak Bora  Date: 2021-08-19
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Global Electrosurgical Devices Market Expected To Observer Major Growth By 2027

The global electrosurgical devices market size is slated to proliferate at a significant pace over the forthcoming years, driven by the escalating rate of surgeries, alongside the robust demand for minimally-invasive procedures worldwide. Increasing physical inactivity is considered a leading cause of various health disorders such as gynecological and urological disorders.

Rapid adoption of sedentary lifestyles, unhealthy diets, and rising levels of stress have bolstered the incidence rate of orthopedic and cardiovascular diseases, leading to a surge in the development of technologically advanced products. With the strong prevalence of CVDs across the globe, the demand for electrosurgical instruments is projected to considerably increase.

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As per Global Market Insights, Inc. estimates, the global electrosurgical devices market registered revenue of more than $8.1 billion in 2020.

On the basis of product, the electrosurgical devices market from the smoke evacuation system segment held over 27.2% market share in 2020, owing to the presence of regulatory authorities that mandate the deployment of effective smoke evacuation systems to manage the toxic surgical smoke effectively. This will ensure the delivery of safe surgical operations for both patients and healthcare professionals.

In July 2020, Palliare obtained 510(k) clearance from the U.S. FDA for its EVA15 insufflator & smoke evacuation system. This system has been designed to help meet the high insufflation requirements of endoscopic & robotic surgery as well as offer integrated surgical smoke evacuation capabilities, which can filter hazardous smoke particles during surgical procedures.

Key industry players have been placing a major emphasis on novel, safe, reliable, and accurate products and technologies through initiatives such as R&D activities. For example, Ethicon Endo-Surgery GmbH launched a reusable and sustainable patient return electrode to enhance patient protection during various surgical procedures and eliminate the need for skin preparation.

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In terms of segmentation by application, the global electrosurgical devices market from the gynecology segment is set to register remuneration of over $1.6 billion by 2027, on account of the changing lifestyle, consumption of unhealthy diets, adoption of sedentary jobs, and increased stress intensity.

With regards to the end-use spectrum, the ambulatory surgical units segment is poised to depict a CAGR of 4.7% through 2027, which is attributable to the increasing outpatient surgical procedures as well as myriad advantages like low costs, low infection rate, and same-day discharge provisions. These factors have led to the shifting preferences of patients from hospitals to the ambulatory surgical units.

Apart from the strong penetration of ambulatory surgical units in developed regions, the rising awareness about the unit advantages will help expand its adoption in the developing countries as well, thereby ensuring the widespread need for electrosurgery devices.

From a country-level perspective, the Japan electrosurgical devices market accounted for a market share of 42.7% in 2020 and is likely to witness considerable growth over the coming years, as a result of the rising elderly populations in the region. As per the World Bank, nearly 28% of the population in the country consists of individuals aged 65 years or above, giving rise to the cases of age-related ailments and thus, bolstering the electrosurgical equipment demand. Furthermore, growing healthcare expenditure and subsequent healthcare infrastructural development will stimulate regional industry share.

The competitive landscape of the electrosurgical devices market comprises of companies such as CONMED Corporation, Olympus Corporation, AngioDynamics, Inc., Johnson & Johnson Private Limited, Erbe Elektromedizin GmbH, Smith & Nephew, Medtronic Plc, Boston Scientific Corporation, B. Braun Melsungen AG, and Stryker Corporation, among others. These companies are focusing on numerous strategies such as new product launches, M&A, and business expansions to strengthen the market position.

To illustrate, in June 2020, Olympus announced the availability of its two 510(k) cleared, single-use electrosurgical knives namely HookKnifeJ for colon, stomach, and esophagus, and TriangleTipKnifeJ for stomach and esophagus, with specific indication for POEM (Peroral Endoscopic Myotomy). POEM is an ESD (Endoscopic Submucosal Dissection) type used in performing esophageal myotomy for patients suffering from swallowing disorders.

Partial Chapter of the Table of Content:

Chapter 2   Executive Summary

2.1    Electrosurgical devices industry 360° synopsis, 2016-2027

2.1.1    Business trends

2.1.2    Product trends

2.1.3    Application trends

2.1.4    End-use trends

2.1.5    Regional trends

Chapter 3   Electrosurgical Devices Industry Insights

3.1    Industry segmentation

3.2    Industry landscape, 2016 - 2027

3.3    Industry impact forces

3.3.1    Growth drivers

3.3.1.1    Increasing number of surgical procedures

3.3.1.2    Increasing prominence of minimally invasive procedures

3.3.1.3    Shifting preference towards outpatient surgeries in developed regions

3.3.1.4    Rising geriatric population

3.3.2    Industry pitfalls & challenges

3.3.2.1    Concerns surrounding toxic fumes produced during surgical procedures

3.3.2.2    Stringent regulatory approvals

3.4    Growth potential analysis

3.4.1    By product

3.4.2    By application

3.4.3    By end-use

3.5    COVID-19 impact analysis

3.6    Regulatory landscape

3.7    Patent analysis

3.8    Porter's analysis

3.9    Competitive landscape, 2019

3.9.1    Company matrix analysis

3.10    PESTEL analysis

Browse complete Table of Contents (ToC) of this research report @ https://www.decresearch.com/toc/detail/electrosurgical-devices-market

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About Author

Ronak Bora

Ronak Bora    

A graduate in Electronics Engineering, Ronak writes for Technology Magazine and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and spo...

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