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Electrosurgery Devices Market Development Based on Major Drivers & Trends by 2022 | Key Players are Bovie Medical Corporation, Johnson & Johnson Private Ltd., AngioDynamics, Inc.
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Electrosurgery devices are utilized for surgical cutting, or, managing blood loss by causing homeostasis (coagulation) during surgical procedures. These devices are used in various medical disciplines, which include abdominal surgery, gastroenterology, gynecology, pneumology, and urology. Basically there are two types of electrosurgery devices – bipolar, and monopolar devices. These devices offer ease of use, and enhanced safety during a surgery.
With changing phase of the healthcare sector, a number of surgical procedures have moved out of traditional ways, which in turn are being replaced by minimally invasive techniques. The number of geriatric population across the globe is witnessing a rise, coupled with increasing healthcare coverage. According to the World Health Organization (WHO), global geriatric population is estimated to reach nearly 2 Bn by 2050. As elder population is prone to diseases including gastrointestinal diseases, cardiac arrests, and cancer, the requirement for minimally invasive surgeries for treating the patients has surged, in order to avoid hospital stay, and healing time. Highly unmet requirements for minimally invasive surgeries are providing wide scope for growth of the global electrosurgery devices market, as these devices find application in a variety of surgical procedures viz. thermofusion, devitalization, coagulation and cutting.
Patients are preferring electrosurgery owing to their benefits such as minimal chances of infection, faster recovery time, easy of usage, and low risk to patients. The governments are increasing their focus on making investments for developing target-specific surgical devices, and advanced medical treatment. Key market players are concentrating more on the development of innovative electrosurgery devices and accessories. Leading players in the market are focusing on developing new products and accessories, which would render improved cutting and coagulation properties, tissue vaporization applications, and multimodality application, with an aim to capitalize market growth opportunities. The global market for electrosurgery devices is estimated to exhibit a steady growth, to reach approximately US$ 8,000 Mn in revenues by 2022-end.
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Based on end-users, electrosurgery devices sales in specialized clinics will register the highest CAGR through 2022. Hospitals are estimated to remain dominant in the global market for electrosurgery devices. In addition, revenues from sales of electrosurgery devices in ambulatory surgical centres will account for more than one-fourth market share by 2022-end. Ambulatory surgical centres will be the second largest end-users of electrosurgery devices in the market by 2022-end. By product type, over half share of the market will be held by the radiofrequency electrosurgery devices, in terms of revenues, during 2017 and 2022. In addition, the radiofrequency electrosurgery devices are expected to remain top-selling product, with sales exhibiting the fastest expansion through 2022. However, demand for the ultrasonic electrosurgery devices are anticipated to remain sluggish during the forecast period.
In 2017, North America will be dominant in the global market for electrosurgery devices in terms of revenues, and this trend will prevail through 2022. The electrosurgery devices market in Europe is estimated to grow at a relatively higher CAGR than North America between 2017 and 2022.
Sales of electrosurgery devices in gynecological surgery application are projected to hold the largest revenue share of the market by 2022-end. In addition, electrosurgery devices sales in urology, and gynecological surgery applications will register a parallel growth at similar CAGRs through 2022. Sales of electrosurgery devices for application in dermatology will register the fastest growth through 2022.
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