Ultrasonic Scalpels Market - Emergence of New Devices in the Industry to Augment the overall Market Growth
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The global ultrasonic scalpels market is envisaged to expand to a valuation of US$4.6 bn by the end of 2025 after progressing from a US$2.3 bn valuation obtained in 2016. This growth of the market could be marked at an expected CAGR of 7.9% for the forecast tenure 2017-2025.
According to the segmentation analysis of the report, the world ultrasonic scalpels market could be classified as per four categories, viz. end user, procedure, surgery, and product. With respect to the segmentation by end user, the market is anticipated to see a classification into three segments, i.e. specialty clinics, ambulatory surgical centers, and hospitals. Amongst these, the hospitals market could secure a colossal share in the near future. It is predicted to gain strength because of the increasing adoption of sophisticated products and techniques, rising per capita healthcare expenditure in India, Brazil, China, the United Arab Emirates (UAE), and Saudi Arabia, and improving hospital infrastructure in these countries.
By procedure, the world ultrasonic scalpels market is foretold to be segmented into plastic surgery, ear-nose-throat (ENT), urology and gynecology, and general surgery. The analysts are of the view that general surgery could secure a leading position in the market owing to the increased adoption of new and advanced ultrasonic scalpel products for conducting general surgeries. In terms of surgery, there could be segments such as open surgery and minimally invasive surgery taking shape in the market. By product, the market could be divided into accessories, handheld devices, and generators.
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The international ultrasonic scalpels market witnessed the dominance of North America in 2016 because of various growth factors supporting the region. However, the researchers prognosticate the region to continue its dominance even until the end of the forecast tenure. Canada and the U.S. boasting of a higher percentage of minimally invasive procedures performed and the increasing adoption of advanced energy surgical devices in the U.S. could significantly up the demand for ultrasonic scalpels in North America.
Europe is predicted to take the second position in the international ultrasonic scalpels market in terms of revenue growth. This could be owing to the rising focus on minimally invasive procedures and advent of new handheld devices. Promising reimbursements offered by government agencies for the application of ultrasonic scalpels could also offer opportunities in the Europe market. Asia Pacific, on the other hand, is expected to register a higher CAGR of 10.4% due to swelling investments from vendors, increasing disposable income, improving healthcare infrastructure, and robust economic growth. The high count of underserved patients in the region could also add to the rise of Asia Pacific.
The worldwide ultrasonic scalpels market could include leading industry names such as InnoSound Technologies, Inc., Reach Surgical, Medtronic, Misonix, and Ethicon, Inc.
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