PUNE, India, Jan. 05, 2021 (GLOBE NEWSWIRE) -- The Global Electrosurgery Market Share, Trends, Analysis and Forecasts, 2020-2030 provides insights on key developments, business strategies, research & development activities, supply chain analysis, competitive landscape, and market composition analysis.
The global electrosurgery market was valued at US$5.8 billion in 2019 and is expected to reach US$10.1 billion by 2030 at a CAGR of 5.2%. Electrosurgery involves application of electrical current to a biological tissue to cut, coagulate, desiccate or fulgurate. Electricity is employed to cause thermal destruction of tissue through dehydration, coagulation, or vaporization. The tissue helps in converting the passing current into heat and acts as a resistant. High-frequency electro surgery and electro cautery are the two forms of electrosurgeries used. Electrosurgery features a wide selection of applications in teeth related procedures, laparoscopy, and chronic diseases (related to kidney and abdomen, among others), with dermatological treatments being the prominent among others.
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The growth across worldwide electrosurgery market is driven by technological advancements in electrosurgical instruments, the increasing demand for minimally invasive surgeries, the growing number of medical, cosmetic, rising number of ambulatory surgery centers. Additionally, technological advancements in electrosurgical instruments and therefore the increasing number of cosmetic and plastic surgeries are stimulating the expansion of this segment. Rather than several advantages and high adoption rate, electrosurgical processes comprise of some risks which might limit the market growth during the forecast period. Moreover, in response with high demand from end-users, companies are engaged in expanding their market foothold with the help of various strategies including product innovation, strategic merger & acquisitions, partnerships, and geographical expansion which is expected to create growth opportunities for the global electrosurgery market during the forecast period.
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Rising number of surgical procedures is expected to accelerate the market growth
Some of the factors fueling the growth of global market include rapid technological advancements, rising number of surgical procedures, increasing occurrences of chronic diseases, and large pool of aging population across the globe. Moreover, high growth potential in untapped market is expected to poise a positive impact on the growth of global market.
The electrosurgical instruments Segment is Expected to Hold Largest Market Share
By product, the global market is led by electrosurgical instruments segment by occupying highest market share in 2019. The segment is expected to maintain its dominating position throughout the forecast period. The growth of the segment can be attributed to higher consumption of reusable electrosurgical instruments and disposables across the region. Moreover, rising popularity of cosmetic and plastic surgeries worldwide is anticipated to favor the segment growth.
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The General Surgery Segment is Expected to Hold Largest Market Share
The surgery type segment is dominated by general surgery segment. The segment accounted for largest market share in 2019. The growth of the segment can be accredited to increasing aging population and rising occurrences of associated diseases around the globe. Moreover, rising prevalence of obesity and increasing volume of surgical procedures is anticipated to favor the segment growth during the forecast period.
The hospitals, clinics, & ablation centers Segment is Expected to Hold Largest Market Share
The end-user segment is dominated by hospitals, clinics, & ablation centers segment. The segment accounted for largest market share in 2019 and expected to maintain this monopoly throughout the forecast period. The growth of the segment can be accredited to significant a higher volume of electrosurgery procedures performed in hospitals as compared with other end-users. Moreover, high demand for advanced modalities in order to achieve more efficient workflow in hospitals and rising demand for minimal invasive procedures is expected to positively influence the market growth.
North America Accounted for Highest Market Share Making it the Dominant Region in Global Market
North America accounted for the biggest share of the electrosurgery market, followed by Europe. However, the Asia Pacific market is estimated to grow at the highest CAGR during the forecast period, primarily owing to the growing popularity of cosmetic surgeries, government efforts to extend access to elective surgery, large population base, high patient population, and improving healthcare infrastructure within the region.
Some of the major players involved in the global Electrosurgery Market include GE Healthcare, Siemens Healthineers, Philips Healthcare, Hitachi, Ltd., Canon, Inc., Lifelines Neuro Company, LLC, Natus Medical Incorporated, Hoffman-La Roche AG, FUJIFILM Holdings Corporation, Mitsar Co., Ltd., Advanced Brain Monitoring, Thermo Fisher Scientific, Inc., Bio-Rad Laboratories, QIAGEN N.V., Nihon Kohden Corporation, ANT Neuro, Fonar Corporation, Fujirebio, DRG Instruments GmbH, Tecan Trading AG, Motion Lab Systems, Inc., Rigaku Corporation, Neusoft Medical Systems Co., Ltd., ELMIKO MEDICAL Sp. Z o.o. and Ridge Diagnostics.
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