Industry Outlook and Trend Analysis
The Electrosurgical Devices Market was worth USD 2.08 billion in 2014 and is expected to reach approximately USD 4.32 billion by 2023, while registering itself at a compound annual growth rate (CAGR) of 8.44% during the forecast period. Developing demand for minimally invasive surgeries and expanding adoption of technologically propelled products are driving the development of the market. Developing awareness with respect to latest surgical procedures in developing regions is anticipated to facilitate quick development of the worldwide market. Electrosurgical systems are used in several medical disciplines, including pneumology, gastroenterology, urology, abdominal surgery, gynecology, general surgery, and others. High neglected requirement for minimally invasive surgeries gives enormous degree to development as electrosurgery discovers application in a large portion of the imperative surgical methods, for example, coagulation, thermofusion, cutting, and devitalization.
Method Outlook and Trend Analysis
Bipolar fragment caught the biggest share in 2015. Enhanced security and convenient usability are a portion of the variables anticipated that would drive the fragment development, subsequently bipolar section is foreseen to rule all through the gauge time frame. Monopolar devices have many risks, including unintended burns, current shunting, and stimulation of tissues, though bipolar methods are more secure, even on the patients with pacemakers.
Product Outlook and Trend Analysis
The advent of technologically propelled electrodes and developing applications of disposable electrodes are driving the development of active electrode segment. Active electrodes are a fundamental part of electrosurgical methods. An extensive variety of these electrodes is accessible and are used in light of specific factors, for example, surgery objective and tissue types included. Thereby, active electrode segment held the biggest share in 2015 and is foreseen to keep up it all through the gauge time frame. Development of dispersive electrodes fragment is foreseen to be blocked by expanding use of bipolar hardware.
Regional Outlook and Trend Analysis
North America commanded the market in 2015. This can be ascribed to the local presence of an expansive number of players and abnormal state of rivalry in the region. High rate of adoption cutting edge innovation and presence of gifted experts are anticipated to drive market development amid the gauge time frame. The U.S., which held the biggest share of the worldwide market in 2015, is decider of the market elements with an expansive client base.
The leading players in the market are Boston Scientific, Atmos Energy, Ethicon Inc, Covidien Ltd, Bovie Medical Corporation, Kirwan Surgical Products Llc, Olympus Corporation, B. Braun Melsungen and Smith & Nephew. The major players in the market are profiled in detail in view of qualities, for example, company portfolio, business strategies, financial overview, recent developments, and share of the overall industry.
The Electrosurgical Devices Market is segmented as follows-
Rest of Europe
Rest of Asia-Pacific
Rest of South America
Middle East and Africa
Rest of MEA
Some of the key questions answered by the report are:
What was the market size in 2014 and forecast from 2015 to 2023?
What will be the industry market growth from 2015 to 2023?
What are the major drivers, restraints, opportunities, challenges, and industry trends and their impact on the market forecast?
What are the major segments leading the market growth and why?
Which are the leading players in the market and what are the major strategies adopted by them to sustain the market competition?