- 25 June 2019 19:04
Electrosurgical Generators Market Emerging Technologies, Sales Revenue, Key Players Analysis, Development Status, Opportunity Assessment and Industry Expansion Strategies 2028
New York, Jun 25, 2019: Surgeons use electrosurgical generators as it allows to cut, coagulate, and desiccate tissue during operations. It’s a multipurpose tool that is used in various surgeries such as eye, gynecological, dermatological, cardiac, etc.
The factors expected to drive demand for electrosurgical generators are incurring number of surgeries across the globe, increasing government spending on the healthcare sector in order to facilitate advanced healthcare services and rapid technological advancements in the field of electrosurgery. In addition, rising number of geriatric population, increasing inpatient in hospitals for cosmetic surgeries, bariatric surgeries, etc., coupled with adoption of electrosurgical generators from surgeons that aid in precise cutting and minimizing blood loss is another factor expected to support the market growth.
Moreover, increasing medical tourism in emerging economies such as China, Malaysia, and India, due to low-cost of surgeries, favorable healthcare policies, and developing regulatory standards is expected to positively impact the market growth. In addition, rising incidences of cardiovascular diseases across the globe, increasing preference of minimally invasive surgical procedures, coupled with increasing preference for electrosurgical generators from surgeons for gynecological, dermatological, cardiac and a variety of other surgical procedures is another factor expected to support the market growth.
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However, factors expected to hinder market growth are technological glitch, increasing incidences of product recalls, and rising popularity of other non-invasive surgical procedures. In addition, stringent government regulations related to product approval is another factor expected to challenge market growth.
Increasing investment by major players for technological advancements and R&D activitis are carried out for the development of a product with converter and controller topology for regulating power by keeping its value within required power characteristics are expected to create new revenue opportunities for player operating in the target market over the forecast period. In addition, increasing expansion activities through strategic agreements and partnerships is expected to further support market growth.
Electrosurgical generators are of two types monopole and bipolar. These devices find the applicability in hospital and ambulatory surgery center.
North America accounts for largest revenue share in the global electrosurgical generators market currently, owing to well-developed healthcare infrastructure in order to facilitate R&D activities and adoption of advanced medical devices, and the presence of major players operating in the countries in this region. In addition, increasing expansion activities through partnerships and agreements are expected to support market growth in this region to a certain extent.
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The markets in Asia Pacific is expected to contribute significant revenue shares in the global market. This can be attributed to increasing government spending on the healthcare sector, and innovative product offerings by regional players operating in emerging economies in this region. In addition, growing merger and acquisition activities between regional players are expected to further support market growth in this region.
Some of the major players operating in the global electrosurgical generators market are Medtronic, Inc., DePuy Synthes, Inc., Aesculap, Inc., Olympus Corporation, Covidien plc, KLS Martin Group, and Ethicon US, LLC.
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