Increasing Demand for Minimally Invasive Surgeries and Technological Advancements in Electrosurgical Instruments Is Anticipated to Propel the Growth of The Global Electrosurgery Market at A CAGR of 5.4% During the Forecast Period, 2019-2026

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Global Electrosurgery Market Accounted for A Market Value Of $6.25 Billion In 2019 And Is Anticipated to Grow with A CAGR of 5.4% From 2019 To 2026.

The Asia Pacific is expected to be the major region in the global electrosurgery market. Factors such as growing disposable income, increasing geriatric population, rising demand for minimally invasive surgeries, and improving healthcare infrastructure are contributing to the market growth in the region.

Increasing Demand for Minimally Invasive Surgeries and Technological Advancements in Electrosurgical Instruments Is Anticipated to Propel the Growth of The Global Electrosurgery Market at A CAGR of 5.4% During the Forecast Period, 2019-2026

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OVERVIEW

The rising demand for minimally invasive surgeries owing to its benefits over traditional surgeries such as less hospital stay and fast recovery time is supporting the growth of the electrosurgery market, as electrosurgery instruments are used in a number of surgical procedures namely devitalization, cutting, thermofusion, and coagulation. Moreover, technological advancements in electrosurgical instruments and a rising number of ambulatory surgery centers are some factors contributing to the market growth. In addition, the increasing number of cosmetic, medical, and age-related surgeries support the demand for electrosurgery instruments. According to the data published by the American Society for Metabolic and Bariatric Surgery, the number of bariatric surgery increased from 228,000 in 2017 to 252,000 in the year 2018. On the flip side, the risks associated with electrosurgical procedures are anticipated to negatively affect the growth of the market.

The global electrosurgery market has been divided into product, surgery type, and end-user. The product segment has been segmented into electrosurgical instruments, electrosurgical accessories, electrosurgical generators, and argon & smoke management systems. The electrosurgical instruments segment has been sub-segmented into bipolar electrosurgical instruments and monopolar electrosurgical instruments. The bipolar electrosurgical instruments has been further segmented into advanced vessel sealing instrument and bipolar forceps. Further, the monopolar electrosurgical instruments has been segmented into electrosurgical electrodes, electrosurgical pencils, monopolar forceps, and suction coagulators. The electrosurgical accessories segment has been classified into cords, cables, and adapters, patient return electrodes, and others. By surgery type, the market has been segmented into neurosurgery, general surgery, gynecology surgery, cardiovascular surgery, and others. The end-user segment has been classified into hospitals & clinics, ambulatory surgical centers, and research laboratories.

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Based on geography, the global electrosurgery market has been divided into North America, Europe, Asia-Pacific, South America, and Middle East & Africa. North America has been classified into the U.S. and Canada. Europe region has been bifurcated into France, Germany, UK, Italy, and Rest of Europe. Asia-Pacific region has been segmented into India, Japan, South Korea, China, and Rest of Asia-Pacific. Furthermore, the South America region has been segmented into Brazil, Mexico, Argentina, and the Rest of South America, while the Middle East & Africa is categorized into GCC Countries, Africa, and the Rest of the Middle East.  The Asia Pacific is expected to be the major region in the global electrosurgery market. Factors such as growing disposable income, increasing geriatric population, rising demand for minimally invasive surgeries, and improving healthcare infrastructure are contributing to the market growth in the region.

Prominent companies functioning in the electrosurgery industry include Ethicon, Inc., Conmed Corporation, B. Braun Melsungen, Medtronic plc, Olympus Corporation, Apyx Medical Corporation, Boston Scientific Corporation, Kirwan Surgical Products LLC, Smith & Nephew PLC, Coopersurgical, Inc., Erbe Elektromedizin GmbH, and Zimmer Biomet Holdings, Inc. Key market players are engaged in strategic initiatives such as product launches, mergers, acquisitions, and partnerships to grow their presence in the market. For instance, in September 2019, Ethicon, Inc. launched MEGADYNE MEGA SOFT Universal Plus Reusable Patient Return Electrode. Similarly, in May 2019, Olympus Corporation announced the launch of ESG-150 Electrosurgery Generator at the Digestive Disease Week 2019. ESG-150 creates a range of waveforms to adjust bipolar and monopolar devices. Likewise, in January 2017, Ethicon, Inc. acquired Megadyne Medical Products, Inc. Megadyne Medical Products, Inc. is a company engaged in manufacturing electrosurgical tools utilized in operating rooms.

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