Global $6,1782 million electrosurgical devices market

Dublin, Ireland – The electrosurgical devices global market is expected to grow to $6,178.2 million by 2023.

Increase in the number of patients suffering from obesity, the rise in aging population, increasing demand for minimally invasive procedures, growing preference for cosmetic surgery procedures and advancements of technologies are driving the growth of the electrosurgical devices global market. However, the risks and complications associated with electrosurgery, product recalls, healthcare reforms, especially in U.S., preference for noninvasive procedures and pricing pressure on medical device manufacturers due to excise tax leverage, are restraining the growth of electrosurgical devices global market.

As the electrosurgical devices global market is dominated by few major players, the market is considered to be consolidated and the protection of intellectual property rights plays a very important role as a long term strategy for survival of the company and to maintain a competitive advantage. According to analysis, Olympus Corp. filed the largest number of PCT applications followed by Medtronic, J & J (Ethicon) and Bovie Medical at World Intellectual Property Organization (WIPO).

Among the electrosurgical products, instrument/units held the largest market share in 2016 and is expected to grow at highest CAGR from 2016 to 2023. In electrosurgical instruments market, the bipolar instruments held the largest market share and is expected to grow at a highest CAGR from 2016 to 2023. Along with the wide application of monopolar instruments, even the advancements in bipolar instruments are leading to the adaption of electrosurgical instrument and also the innovative technologies involved in the production of the different instruments such as multifunctional electrodes and pencils help the electrosurgical instruments segment grow rapidly over other product segments.

Source: www.researchandmarkets.com