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The global electrosurgical devices market accounted to US$ 4,828.4 Mn in 2017 and is expected to grow at a CAGR of 6.8% during the forecast period 2018 - 2025, to account to US$ 8,000.9 Mn by 2025.
North America is the largest geographic market and it is expected to be the largest revenue generator duringthe forecast period. North American market is driven by the factors such as, rise in number of surgical procedures as wellas FDA approvals obtained by key players in the Electrosurgical Devices market
Lucrative Regional Markets
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Market Insights
Rising Demand for Minimally Invasive Surgeries
Minimally invasive surgery (MIS) has the advantages which include less tissue injury, reduced pain, faster oral intake, smaller hospitalization and better cosmetic appearance when compared with open surgery. The benefits as well as the accuracy being offered by minimally invasive surgeries are expected to drive the market for electrosurgical devices. In laparoscopy, the surgical scars are smaller, hospital stays are shorter and the incisions created are much smaller, enabling faster healing and recovery. In recent days laparoscopy is being used widely for bariatric surgery and is also economical compared to the traditional surgery method.
Growing Geriatric Population & Associated Rise in Chronic Diseases
The elderly population is defined as group of people aged 65 and over. Population ageing is poised to become one of the most significant social transformations of the twenty-first century. The number of geriatric population has been increasing rapidly across the globe. According to the data published by the United Nations, in 2017, there were an estimated 962 million people aged 60 or over in the world, which comprised of 13 per cent of the global population. The geriatric population is estimated to grow at a rate of 3% every year. According to the report of American College of Cardiology Foundation, in 2018, Coronary heart disease (CHD) was the leading cause of deaths attributable to cardiovascular disease (CVD) in the US, which is followed by stroke (16.8%), high BP (9.4%), heart failure (HF) (9.0%), and other CVDs (17.9%).
Product Insights
The global electrosurgical devices market by type was led by electrosurgical generators segment. In 2017, the electrosurgical generators segment held a largest market share of 33.0% of the electrosurgical devices market, by product. The electrosurgical generators segment is expected to dominate the market in 2025 since they are the basic component in an electrosurgical device.
Application Insights
The electrosurgical devices market by application was segmented into general surgery, gynecology, urology, gastroenterology, arthroscopy and others. The general surgery segment held the largest share of the market, by application. The general surgery is likely to dominate in the forecast period owing to to the rising demand for the procedure.
Electrosurgical Devices Market, by Application
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- Request discounts available for Start-Ups & Universities
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
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Electrosurgical Devices Market: Strategic Insights
Market Size Value in US$ 4,828.4 Million in 2017 Market Size Value by US$ 8,000.9 Million by 2025 Growth rate CAGR of 6.8% from 2018-2025 Forecast Period 2018-2025 Base Year 2018
Akshay
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Akshay will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
Speak to Analyst
Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
Electrosurgical Devices Market: Strategic Insights
Market Size Value in | US$ 4,828.4 Million in 2017 |
Market Size Value by | US$ 8,000.9 Million by 2025 |
Growth rate | CAGR of 6.8% from 2018-2025 |
Forecast Period | 2018-2025 |
Base Year | 2018 |
Akshay
Have a question?
Akshay will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
Speak to AnalystAcquisitions and product launches were observed as the most adopted strategy in global electrosurgical devices industry. Few of the recent product launch and acquisitions and others are listed below:
2018: In May, 2018, Olympus launched and received the approval for the ESG-300 Electrosurgery Generator. This is the latest generation of electrosurgical devices developed majorly for GI and pulmonary.
2017: In January, 2018, Ethicon acquired Megadyne Medical Products, Inc., a company manufacturing electrosurgical tools used in operating rooms. The acquisition has helped in developing better electrosurgical tools to a broader market through Ethicon’s extended global network.
ELECTROSURGICAL DEVICES - MARKET SEGMENTATION
By Product
- Electrosurgical Generators
- Active Electrodes
- Dispersive Electrodes
- Other
By Application
- General Surgery
- Gynecology
- Urology
- Gastroenterology
- Arthroscopy
- Others
By Geography
• North America
- U.S.
- Canada
- Mexico
• Europe
- France
- Germany
- UK
• Asia Pacific (APAC)
- China
- India
- Japan
• Middle East & Africa (MEA)
- Saudi Arabia
- South Africa
- UAE
• South America (SAM)
- Brazil
Company Profiles
- Olympus Corporation
- Medtronic
- Ethicon US, LLC
- Boston Scientific Corporation
- B. Braun Melsungen AG
- CONMED Corporation
- Erbe Elektromedizin GmbH
- Kirwan Surgical Products, LLC
- BOVIE MEDICAL
- Parkell, Inc.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Product , Application and Geography
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina
Frequently Asked Questions
North America is that the largest geographic market and it's expected to be the biggest revenue generator throughout the forecast amount.
North America’s market is driven by the factors like, rise in variety of surgical procedures and FDA approvals obtained by key players within the Electrosurgical Devices market.
The electrosurgical devices market is predicted to grow at a CAGR of 6.8% throughout the forecast period.
The market report contains the forecast of 2018 – 2025
Acquisitions and product launches were ascertained as the most adopted strategy in world electrosurgical devices business.
The List of Companies
1. Olympus Corporation
2. Medtronic
3. Ethicon US, LLC
4. Boston Scientific Corporation
5. B. Braun Melsungen AG
6. CONMED Corporation
7. Erbe Elektromedizin GmbH
8. Kirwan Surgical Products, LLC
9. BOVIE MEDICAL
10. Parkell, Inc.
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Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
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- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
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The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
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