IQ4I Research & Consultancy Published a New Report on “Electrosurgical Devices Global Market Forecast to 2023”
Electrosurgery includes use of alternating electrical energy to perform surgeries such as cardiac, orthopedic, cosmetic, dermatological, gynaecology and others. These devices are used for surgical cutting, manage blood loss by coagulation reducing patient recovery time.
Increase in the number of patients suffering from obesity, the rise in aging population, increasing demand for minimally invasive procedures, growing preference for cosmetic surgery procedures and advancements of technologies are driving the growth of the electrosurgical devices global market. However, the risks and complications associated with electrosurgery, product recalls, healthcare reforms, especially in U.S., preference for non-invasive procedures and pricing pressure on medical device manufacturers due to excise tax leverage, are restraining the growth of electrosurgical devices global market.
Technological advancements in electrosurgical devices market products such as bipolar instruments, argon enhancement systems; Helium based plasma systems, smoke evacuation systems with benefits that include quick and efficient coagulation, a thinner, less charring and less tissue damage. The new Helium based plasma system lowers the risk of injury to surrounding tissue, and less smoke during the electrosurgical process and focuses on RF energy for greater control of tissue effect, enabling a high level of precision and virtually eliminates tissue trauma. In addition, the advanced smoke evacuation systems introduced recently filters the surgical smoke (plume) to remove odor, particulates, and other potentially hazardous by-products of electrosurgery procedures and the exposure to plume poses that risks health of surgeons, nurses, as well as patients. For instance, Medtronic is offering the RapidVac smoke evacuator system, designed to filter the surgical smoke that contains toxic chemicals, viable bacteria, viruses, and mutagenic substances.
Technological advancements in electrosurgical procedures includes, Minimally-Invasive procedures such as laparoscopic and robotic assisted surgery which are becoming popular globally as they offer the better clinical outcomes than open surgical procedures where electrosurgical devices are invariably used. The advancements in products and technology have become an essential component and the latest innovation enhances the performance of these electrosurgical devices which leads to the higher adoption of electrosurgery.
As the electrosurgical devices global market is dominated by few major players, the market is considered to be consolidated and the protection of intellectual property rights plays a very important role as a long term strategy for survival of the company and to maintain a competitive advantage.
According to IQ4I Analysis, Olympus Corporation filed the largest number of PCT applications followed by Medtronic, J & J (Ethicon) and Bovie Medical at World Intellectual Property Organization (WIPO).
Among the electrosurgical products, instrument/units held the largest market share and are expected to grow at medium single digit CAGR. In electrosurgical instruments market, the bipolar instruments held the largest market share. Along with the wide application of monopolar instruments, even the advancements in bipolar instruments are leading to the adaption of electrosurgical instrument and also the innovative technologies involved in the production of the different instruments such as multifunctional electrodes and pencils help the electrosurgical instruments segment grow rapidly over other product segments.
Among various surgeries, Oncology held the largest market share; Cosmetic & dermatology surgery segment is expected to grow at the highest CAGR during the forecast period due to the rising awareness and growing adoption rate of these treatments. In electrosurgical devices global market by geography, the North America region held the largest market share due to the availability of highly advanced healthcare facilities, growing awareness about the technological advancements, availability of Medicare and third party insurance facilities, easy availability of skilled personnel and Asia-Pacific region is expected to grow at high single digit CAGR due to increase in healthcare spending and advancements in healthcare facilities.
Some of the major companies operating in the electrosurgical devices market are B. Braun Melsungen AG (Germany), Bovie Medical Corporation (U.S.), Bowa Electronic GMBH & Co. KG (Germany), Conmed Corporation (U.S.), Medtronic (Covidien) (Ireland), Erbe Electromedizin GMBH (Germany), Johnson & Johnson (Ethicon) (U.S.), Olympus Corporation (Japan), Smith & Nephew PLC (U.K.), Symmetry Surgical Inc. (U.S.), Utah Medical Products Inc. (U.S.). and are considered to be the leaders in this space with their marketed products and strong pipelines. Some of the emerging players in electrosurgical devices are UZUMCU (Turkey), Telea electronics engineering (Italy), Symmetry surgical (U.S), Olives (India), Applied Medical (U.S.), Atricure (U.S.), Stryker (U.S.), Arthrex (U.S.), Depuy Synthes (U.S.), Wisap medical technology (Germany), SKLAR (U.S.), Richard Wolf medical instruments corporation (U.S.), Maxer (Germany), Etc.,