Market Research Report
Electrosurgical Devices Market - Growth, Trends, and Forecasts (2020 - 2025)
|Published by||Mordor Intelligence Pvt Ltd||Product code||660996|
|Published||Content info||117 Pages
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|Electrosurgical Devices Market - Growth, Trends, and Forecasts (2020 - 2025)|
|Published: June 1, 2020||Content info: 117 Pages||
The electrosurgical devices are used for surgical cutting or control bleeding by causing coagulation at the surgical site using electric current. The electrosurgical devices market has been witnessing high growth in recent times, especially in developing countries. As the human population increases, the surgical demands are also increasing. Moreover, awareness and increasing demand for minimally invasive surgeries are helping this market grow. Other factors like increasing prevalence of chronic disease, increasing geriatric population and technological advancements in electrosurgical instruments to make them safer and more efficient are also helping the growth of this market.
However, as these devices are advanced, they require professionals that are trained in using these devices. The cost of training has created a shortage of skilled professionals. Thus, this factor is restraining the growth of this market. The stringent regulatory framework is another factor that has dissuaded companies from entering this market, which int turn restrain the market growth.
General Surgery segment dominates the market
General surgery is a surgical specialty that focuses on contents under the abdomen and around it including, the esophagus, stomach, small intestines, large intestines, liver, pancreas, gallbladder, appendix and bile ducts.
According to the Journal of the American Medical Association, although the population of the United States(US) is expected to grow by 18% between 2000 and 2020, the workload of general surgeons is expected to increase by 31.5%. Along with this increase in demand, demand for minimally invasive surgeries has also increased.
According to an article published Journal of Minimally Invasive Therapy and Allied Technologies, electrosurgery is used in over 80% of general surgery procedures in the US. The technique allows surgeons to skilfully dissect tissue to achieve rapid hemostasis. Especially in minimally invasive procedures, electrosurgery offers precise hemostatic control during complicated surgeries on structures that are highly vascular in nature.
Owing to these factors this segment is expected to dominate the market in the forecast period.
North America dominates the market
According to the American Heart Association, cardiovascular disease accounted for nearly 836,546 deaths in the United States (US). in 2018. That is about 1 of every 3 deaths in the US. According to the Centers for Disease Control and Prevention, skin cancer is the most common form of cancer in the US. Such disorders have resulted in a burden on the general population. However, the healthcare system of American countries, especially the US and Canada, highly developed with a total expenditure of 17.9% and 11% of GDP respectively according to OECD. These factors have helped North America to be the largest market for electrosurgical devices.
The majority of the electrosurgical devices are being manufactured by the global key players. Market leaders with more funds for research and a better distribution system have established their position in the market. Moreover, Asia-pacific is witnessing an emergence of some small players due to the rise in the awareness of such medical devices which are safer and more precise. This has helped the Asia-pacific market grow.