This report studies the global electrosurgery market over the forecast period of 2014 to 2019. The market is expected to reach ~$4 billion by 2019, at CAGR of 5.9% from 2014 to 2019. New product launches and product developments are the key strategies adopted by the major players to develop their position in the global electrosurgery market. Moreover, strategies such as expansions, partnerships, agreements, collaborations, joint ventures, and acquisitions were also adopted by a significant number of market players to strengthen their product portfolio and to expand their geographic presence.
Based on the type of product, the global electrosurgery market is classified into three major segments, namely, electrosurgical generators, electrosurgical instruments and accessories, and argon and smoke management systems. The electrosurgical instruments and accessories segment is further classified into electrosurgical instruments and electrosurgical accessories. The electrosurgical instruments market is categorized as bipolar instruments (advanced vessel sealing instruments and bipolar forceps) and monopolar instruments (electrosurgical pencils, electrosurgical electrodes, suction coagulators, and monopolar forceps). Likewise, the electrosurgical accessories market is also categorized into three major segments, namely, patient return electrodes; cords, cables, and adapters; and others (foot switches, carts, and tip cleaners).
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Furthermore, the global electrosurgery market is divided into eight segments on the basis of type of surgery, namely, general surgery, gynecology surgery, urologic surgery, orthopedic surgery, cardiovascular surgery, cosmetic surgery, neurosurgery, and others (ENT, dermatology, and ophthalmic surgeries)..
A number of factors such as the worldwide development of advanced energy based electrosurgical generators and instruments increase in the aging population (which is increasing the demand of age related surgeries) and rising demand of minimally invasive procedures are propelling the growth of the global market. However, ongoing healthcare reforms in the U.S., regulatory product recalls, and rising price pressure on the market players are some of major factors restraining the growth of this market. In addition to this, stiff competition in the industry is the key challenge faced by the market players.
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In 2014, the global market was dominated by North America. A number of factors such as high volume of surgical procedures, government funding, and technological advancements are driving the growth of the electrosurgery market in the North American countries. However, the Asia-Pacific market is expected to grow at the highest CAGR from 2014 to 2019 due to factors such as developing healthcare infrastructure, rising government efforts to increase the population access to elective surgeries, and large population base in the Asia-Pacific countries.
Covidien plc (Ireland), Ethicon (U.S.), Olympus Corporation (Japan), CONMED Corporation (U.S.), ERBE Elektromedizin GmbH (Germany), B. Braun Melsungen AG (Germany), Bovie Medical Corporation (U.S.), and BOWA-electronic GmbH Co. KG (Germany) are the key players operating in the global electrosurgery market.
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