Electrosurgery Devices Market to Reach $3.78 Bn, Globally, by 2025 at 4.8% CAGR, Says Allied Market Research
PORTLAND, Oregon, October 15, 2018 /PRNewswire/ --
Increase in the number of surgical procedures, large geriatric population, technological advancements, and rise in prevalence of chronic diseases would drive the growth of the global electrosurgery devices market
Allied Market Research published a report, titled, Electrosurgery Devices Market by Type {Electrosurgery Generators, Electrosurgery Instruments & Accessories [Electrosurgery Instruments (Bipolar Instruments, and Monopolar Instruments) and Electrosurgery Accessories (Patient Return Electrodes or Dispersive Electrodes, Cords, Cables, and Adapters, and Others)], Argon & Smoke Management Systems}, and Application (General Surgery, Gynecology Surgery, Urologic Surgery, Orthopedic Surgery, Cardiovascular Surgery, Cosmetic Surgery, Neurosurgery, and Others): Global Opportunity Analysis and Industry Forecast, 2017-2025. The report offers a detailed analysis of the top winning strategies, industry dynamics, market size & estimations, and competitive landscape. According to the report, the global electrosurgery devices market garnered $2.59 billion in 2017 and is estimated to reach $3.78 billion at a CAGR of 4.8% from 2018 to 2025.
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Rise in prevalence of chronic diseases and increase in geriatric population drive the growth of the industry. Moreover, upsurge in the number of surgical procedures supplements the market growth. However, stringent government regulations for commercialization of new products hinder the market growth. Conversely, technological advancements and untapped opportunities in the emerging economies create new pathways for the market players.
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Electrosurgical instruments & accessories segment to be lucrative through 2025
Electrosurgical instruments & accessories segment contributed nearly half of the total market share in 2017 and is expected to remain dominant during the forecast period. This segment would register the highest CAGR of 5.6% from 2018 to 2025, owing to increase in geriatric population and growth in demand for minimal invasive surgical procedures and radiosurgeries worldwide. The report also analyzes electrosurgical generators and argon & smoke management systems.
General surgery segment to retain dominance throughout the forecast period
The general surgery segment accounted for nearly one-fourth of the total share in 2017 due to increase in incidence of diseases involving the skin, breast, soft tissue, and trauma, which require general surgery for treatment. This segment would maintain its lead in terms of revenue through 2025. However, orthopedic surgery would grow at the highest CAGR of 5.9% from 2018 to 2025, owing to increase in usage of electrosurgery devices for cutting and coagulation of soft tissues in orthopedic surgeries. The report also discusses gynecology surgery, cardiovascular surgery, urologic surgery, neurosurgery, cosmetic surgery, and other applications.
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Asia-Pacific: The fastest growing region
Changing healthcare infrastructure in developing counties such as India and China coupled with increasing incidence of chronic disorders have enabled the Asia-Pacific region to grow at the fastest CAGR of 6.7% from 2018 to 2025. However, North America contributed more than one-third of the total market share in 2017, owing to increase in elderly population, supportive reimbursement scenario, well-established healthcare infrastructure, and technological advancements.
Torchbearers of the industry
The key market players analyzed in the study include Boston Scientific Corporation, B. Braun Melsungen AG, BOWA-electronic GmbH & Co. KG, Bovie Medical Corporation, Erbe Elektromedizin GmbH, CONMED Corporation, Johnson & Johnson (Ethicon US, LLC.), Olympus Corporation, Medtronic Plc., and Smith & Nephew Plc. These players have implemented different strategies including new product launches, joint ventures, expansions, collaborations, mergers & acquisitions, and others to gain a strong foothold in the industry.
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