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Electrosurgery Market worth 5.17 Billion USD by 2021 | MarketsandMarkets
This report analyzes and studies the major market drivers, restraints, opportunities, and challenges in North America, Europe, Asia-Pacific, and the Rest of the World (RoW).
This report studies the global Electrosurgery Market over the forecast period of 2016 to 2021. The market is expected to reach USD 5.17 Billion by 2021, at a CAGR of 3.9% during the forecast period. Factors such as technological advancements in electrosurgery devices, growing number of medical, aesthetic and plastic surgeries, rapidly growing aging population, rising demand for minimally invasive surgeries, and increasing number of ambulatory surgery centers are expected to drive the market in the coming years. On the other hand, healthcare reforms in the U.S., frequent product recalls, and risks associated with electrosurgical procedures are some of the key factors limiting the growth of the market.
On the basis of type of surgery, the electrosurgery market is segmented into general surgeries, gynecological surgeries, urological surgeries, orthopedic surgeries, cardiovascular surgeries, cosmetic surgeries, neurosurgeries, and other surgeries.
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On the basis of product, the electrosurgery market is segmented into electrosurgical generators, electrosurgical instruments & accessories, and argon & smoke management systems. On the basis of the type of electrodes used in electrosurgery, the global electrosurgical instruments market has been further classified into two major categories, namely, monopolar instruments and bipolar instruments. The global bipolar electrosurgical instruments market has been further divided into two subsegments, namely, advanced vessel sealing instruments and bipolar forceps.
In 2015, North America held the largest share of the global electrosurgery market, followed by Europe. However, the Asia-Pacific market is expected to register the highest CAGR during the forecast period. Growth in this market is fueled by growing demand for cosmetic and plastic surgery, increasing government efforts to raise the standard of healthcare, and the presence of huge population base. The availability of high-quality surgical treatments at lower costs has increased medical tourism in this region, thereby driving the market growth.
As of 2016, Covidien plc (Medtronic) (Ireland), Ethicon, Inc. (U.S.) (subsidiary of Johnson & Johnson (U.S.)), and Olympus Corporation (Japan) held the leadership position in the global electrosurgery market. In the past three years, these companies adopted product launches and geographic expansions as their key business strategies to ensure market dominance. CONMED Corporation (U.S.), Erbe Elektromedizin GmbH (Germany), Bovie Medical Corporation (U.S.), B. Braun Melsungen AG (Germany), and BOWA-electronic GmbH & Co. KG (Germany) are some of the other players in this market.
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# Electrosurgical Instruments Manufacturing Companies
# Electrosurgical Instruments Accessories Manufacturing Companies
# Medical Device Suppliers and Distributors
# Hospitals and Clinics
# Research Laboratories and Academic Institutes
# Venture Capitalists and Other Government Funding Organizations
# Research and Consulting Firms
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