Vancouver, British Columbia, March 10, 2021 (GLOBE NEWSWIRE) -- The global electrosurgical devices market size is expected to reach USD 7.62 Billion in 2027 and register a steady CAGR during the forecast period, according to latest analysis by Emergen Research. Steady revenue growth of the market can be attributed to key factors such as increasing investments by major players for production of technologically advanced electrosurgical devices, high prevalence of obesity and cardiovascular diseases, rapidly aging geriatric population, and increasing preference for minimally invasive surgical procedures.
An electrosurgical unit is a surgical device with a range of applications. It can be used to incise tissue and destroy tissue through desiccation, and also cause coagulation of the blood to control bleeding through. Electrosurgery is also used in dermatology procedures and is ideal for removal of hemangiomas and pyogenic granulomas and the tendency and vascular nature of such growths to bleed.
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Increasing government funding to promote development of more innovative technologies and devices and to improve healthcare infrastructure is expected to open up lucrative revenue opportunities for major players in the market over the forecast period. Increasing need for cosmetic surgical procedures due to rising spending capacity, increasing focus on personal appearance and appeal, and growing awareness among benefits of preventive medical procedures and availability of more advanced surgical procedures.
Lack of skilled professionals and high cost of surgeries could impact growth of the market to a certain extent over the forecast period. Stringent government regulations and product approval are other factors expected to hamper growth of the market to a certain extent. Increase in instances of product recall due to safety issues is also a major factor expected to hamper market growth.
Some Key Highlights In The Report
- In June 2020, Boston Scientific announced the launch of DIRECTSENSE, which is a tool for monitoring the effect of radiofrequency (RF) energy delivery during cardiac ablation procedures.
- Bipolar segment among the method segments accounted for the largest revenue share in 2020 due to increasing application in cases related to neurosurgery or otolaryngology.
- Among the product segments, active electrodes segment revenue is expected to register fastest CAGR over the forecast period due to increasing technological advancements in active electrodes.
- General surgery segment among the surgery type segments accounted for largest revenue share in the global electrosurgical devices market in 2020 due to increase in demand for minimally invasive surgeries.
- Asia Pacific is expected to register a comparatively faster revenue CAGR than other regional markets over the forecast period due to increasing initiatives by governments in developing countries in the region to improve healthcare infrastructure and services.
- Key participants include Olympus Corporation, Covidien PLC, Boston Scientific, Ethicon, Inc., B. Braun Melsungen AG, Bovie Medical Corporation, Smith and Nephew, Medtronic PLC, Johnson & Johnson, and Conmed Corporation, among others.
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Emergen Research has segmented the global electrosurgical devices market on the basis of method, product, surgery type, and region:
- Method Outlook (Revenue, USD Billion; 2017-2027)
- Bipolar
- Monopolar
- Product Outlook (Revenue, USD Billion; 2017-2027)
- Active electrodes
- Electrosurgical Generators
- Dispersive Electrodes
- Electrosurgical Instruments and Accessories
- Surgery Type Outlook (Revenue, USD Billion; 2017-2027)
- Gastroenterology
- General surgery
- Gynecology
- Cosmetic
- Neurosurgery
- Cardiovascular
- Urology
- Orthopedic
- Others
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- Regional Outlook (Revenue, USD Billion; 2017-2027)
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Italy
- Spain
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- MEA
- Saudi Arabia
- UAE
- South Africa
- Rest of MEA
- North America
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About Emergen Research
Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
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