Electrosurgery Market by Product & Monopolar, Accessories, Type of Surgery - Global Forecast to 2021
LONDON, Jan. 11, 2017 /PRNewswire/ -- The global electrosurgery market is estimated to grow at a CAGR of 3.9% from 2016 to 2021 to reach USD 5.17 billion by 2021. Factors such as technological advancements in electrosurgery devices, growing number of medical, aesthetic and plastic surgeries, rising demand for minimally invasive surgeries, and growing number of ambulatory surgery centers are driving the growth of this market. 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 global electrosurgery market.
On the basis of product, the electrosurgery market is categorized electrosurgical generators, electrosurgical instruments & accessories, and argon & smoke management systems. The electrosurgical instruments and accessories segment is estimated to account for the largest share in 2016. 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. Based on product, the global bipolar electrosurgical instruments market has been further divided into two subsegments, namely, advanced vessel sealing instruments and bipolar forceps.
Based on the type of surgery, the electrosurgery market is categorized into eight segments— general surgeries, gynecological surgeries, urological surgeries, orthopedic surgeries, cardiovascular surgeries, cosmetic surgeries, neurosurgeries, and other surgeries. The orthopedic surgeries and cosmetic surgeries segment is estimated to grow at the highest CAGR during the forecast period. The growth in the aging population and increasing incidence/prevalence of bone diseases such as osteoporosis, osteogenesis imperfecta, and osteonecrosis are the major factors driving the growth of the electrosurgical devices market for orthopedic surgeries.
On the basis of region, the electrosurgery market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World. North America is expected to command the largest share of the global electrosurgery market in 2016, followed by Europe. The electrosurgery market in North America is primarily driven by the rising number of surgical procedures, technological advancements, growing demand for minimally invasive surgeries, increasing obesity levels, rising geriatric population, and strong presence of key players in the North American market.
The global electrosurgery market is highly competitive, with a large number of global and local players. In 2015, the global electrosurgery market was dominated by Covidien plc (Medtronic) (Ireland), Ethicon, Inc. (U.S.) (subsidiary of Johnson & Johnson (U.S.)), and Olympus Corporation (Japan). New product launches and geographical expansions were the major strategies adopted by market players to achieve growth in the electrosurgery market.
Research Coverage
This report studies the electrosurgery market based on product and type of surgery. The report also studies factors (such as drivers, restraints, opportunities, and challenges) affecting market growth. It analyzes opportunities and challenges in the market for stakeholders and provides details of the competitive landscape for market leaders. Furthermore, the report analyzes micromarkets with respect to their individual growth trends, future prospects, and contributions to the total market. The report forecasts the revenue of the market segments with respect to four main regions.
Reasons to Buy the Report:
From an insights perspective, this research report has focused on various levels of analysis—industry trends, market share analysis of top ten players, and company profiles, which together comprise and discuss basic views on the competitive landscape, emerging and high-growth segments of the electrosurgery market, and high-growth regions and countries and their respective drivers, restraints, challenges, and opportunities.
The report will enrich both established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn will help firms in garnering greater market shares. Firms purchasing the report could use any one or a combination of the below-mentioned five strategies (market penetration, product development/innovation, market development, market diversification, and competitive assessment) for strengthening their market shares.
The report provides insights on the following pointers:
- Market Penetration: Comprehensive information on product portfolios and services offered by the major players in the electrosurgery market. The report analyzes the electrosurgery market based on product, type of surgery, and region
- Product Development/Innovation: Detailed insights on the upcoming technologies, research and development activities, and new product launches in the electrosurgery market
- Market Development: Comprehensive information about lucrative emerging markets. The report analyzes the markets for various electrosurgery instruments across geographies
- Market Diversification: Exhaustive information about new products and services, untapped geographies, recent developments, and investments in the electrosurgery market
- Competitive Assessment: In-depth assessment of market shares, strategies, products and services, distribution networks, and manufacturing capabilities of leading players in the electrosurgery market
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