Bipolar Electrosurgical Device Market Size: Research Methodology, Rising Demand, Industry Trends & Revenue Models | Major Keys: Bovie Medical, DRE Medical, Bard Medical, Special Medical Technology
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
The bipolar electrosurgical devices find their applications in the general surgery, gynecology surgery, urologic surgery, orthopedic surgery, cardiovascular surgery, dermatology, orthopedic, cosmetic surgery, neurosurgery and others. Further, the market is segmented by method into monopolar and bipolar, out of which, the bipolar segment dominated the market in 2016 and is anticipated to hold its positive growth over the forecast period.
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The global market of bipolar electrosurgical device is anticipated to reach noteworthy market valuation by the end of 2024 by expanding at a compound annual growth rate of around 5.5% over the forecast period. Factors such as increasing sales of surgical devices combined with advancement in healthcare technology are anticipated to spur the growth of the bipolar electrosurgical device market with significant revenue by the end of 2024.
In terms of regional segmentation, North America bipolar electrosurgical device market held the largest market share in terms of revenue in 2016 and is expected to continue its dominance over the forecast period. This can be attributed to rising healthcare expenditure and presence of major key players of electrosurgical device in the region.
After North America, Europe region captured the second position in bipolar electrosurgical device market owing to growing adoption of innovative technologies in healthcare devices and presence of skilled professionals in the region. Further, Asia-Pacific is expected to witness robust growth by the end of 2024 owing to growing old age population, rise in number of diseases along with growing demand for effective surgical procedures in the region.
Growing Demand for Minimal Invasive Surgeries
The growth of the bipolar electrosurgical device market is expected to be augmented by increasing prevalence of chronic diseases, rising demand for minimally invasive surgeries and growing ambulatory surgery services across the globe. Further, rapid urbanization and growing GDP figures of the developed and developing nations combined with growing adoption of technologically advanced surgery devices is expected to benefit the expansion of the bipolar electrosurgical device market by the end of the forecast period.
However, high cost and risk of side effects associated with bipolar electrosurgical devices is likely to inhibit the growth of the bipolar electrosurgical device market in the near future.
This report also provides the existing competitive scenario of some of the key players of the bipolar electrosurgical device market which includes company profiling:
Lamidey Noury Medical,
B. Braun Melsungen AG,
Special Medical Technology,
Applied Medical and Union Medical.
The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the bipolar electrosurgical device market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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