PUBLISHER: Grand View Research | PRODUCT CODE: 1171102
PUBLISHER: Grand View Research | PRODUCT CODE: 1171102
The global ultrasonic electrosurgical devices market size is estimated to reach USD 5.21 billion by 2030 registering a CAGR of 5.44%, according to a new report by Grand View Research, Inc. Rising volume of surgical procedures owing to the growing prevalence of chronic diseases, rising adoption of minimally invasive surgeries and developments in minimally invasive surgical techniques including laparoscopy have resulted in the development of ultrasonic electrosurgical devices by major market players is expected to contribute to the market growth. Presence of a large number of players and their growing number of strategic initiatives to enhance their product portfolios is expected to boost the market growth.
The rising prevalence of various types of cancer such as breast cancer, colon cancer, prostate cancer, and lung cancer is anticipated to boost the demand for ultrasonic electrosurgical devices for the treatment and surgery of various tumors in the body. Cancer is considered as a universal healthcare problem as it is one of the leading causes of death. Furthermore, the increasing incidence of cancer across the globe is predicted to boost the demand for the ultrasonic electrosurgical devices market. Thus, the growing prevalence of cancer throughout the globe is projected to create high growth opportunities for market players during the forecast period.
A large number of surgical procedures are performed around the world. According to the National Library of Medicine, in 2020, around 310 million surgical procedures are performed annually, of which 40 to 50 million are conducted in the U.S. and 20 million in Europe.
This is expected to positively influence the demand for ultrasonic electrosurgical devices in the coming years. Several manufacturers are focusing on developing technologically advanced ultrasonic electrosurgical devices to maintain a strong market presence.