The global electrosurgery market is estimated to grow at a CAGR of 5.9% in the forecast period. Technological advancements in the electrosurgery devices, rapidly aging population, and increasing demand for minimally invasive surgery are some of the key factors that are fuelling the growth of the electrosurgery market.
However, healthcare reforms in the U.S. market and product recalls are some of the key factors hampering the growth of this market.
Complete report on Electrosurgery Market spread across 261 Pages, Profiling 10 Companies and Supported with 103 Tables and 25 Figures is now available at http://www.rnrmarketresearch.com/electrosurgery-market-by-product-generator-electrosurgical-instruments-vessel-sealing-bipolar-forceps-electrode-suction-coagulator-accessories-surgery-general-gynecology-orthopedic-cardi-market-report.html .
In this report, the global electrosurgery market has been segmented on the basis of type of product (electrosurgical generators, electrosurgical instruments and accessories, and argon and smoke management systems), and type of surgery (general surgery, gynecology surgery, urologic surgery, orthopedic surgery, cardiovascular surgery, cosmetic surgery, neurosurgery, and others (ENT, dermatology, and ophthalmic surgeries). The electrosurgical instruments and accessories market accounted for the largest share of the global electrosurgery market in 2014, followed by the electrosurgical generators market.
Factors such as new product launch, technological advancements, and increasing demand of minimal invasive surgery are stimulating the growth of the electrosurgical instruments and accessories market.
Others (ENT, Dermatology, and Ophthalmic Surgeries)
The emerging electrosurgery market including China, India, Brazil, and Mexico have became attractive for the companies engaged in the development and marketing of the electrosurgery devices. Rising trends of medical tourism in these countries owing to low cost surgeries, huge population base, and government initiatives to develop a modern healthcare system with corresponding reimbursement structures are the key factors propelling the demand of the electrosurgery devices in the emerging markets.
Geographically, North America (comprising the U.S., Canada, and Mexico) commands the largest share of 47% of the global electrosurgery market in 2014, followed by Europe. The electrosurgery market in the North America is primarily driven by various factors including technological advancements by the domestic market players, rising number of surgical centers, aging population, and increasing volume of surgical procedures in the North American countries.
Key market player
Covidien plc (Ireland) held the leadership position in the global electrosurgery market.
Ethicon (U.S.), Olympus Corporation (Japan), CONMED Corporation (U.S.), ERBE Elektromedizin GmbH (Germany), Bovie Medical Corporation (U.S.), and BOWA-electronic GmbH Co. KG (Germany).
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Increasing government pressure to reduce the healthcare cost and rising price pressure on the market players constraints the growth of the electrosurgery market in this region. The Asia-Pacific region is poised to grow at the highest CAGR of 8% in the next five years, owing to factors such as increasing government initiatives for modernization of healthcare infrastructure, improvements in healthcare insurance coverage, and growing focus of both international and domestic players on the Asia-Pacific electrosurgery market are propelling the growth of the electrosurgery market in the Asia-Pacific region.