Electrosurgery Devices Market Projected to Augment at a Notable CAGR during the Forecast Period until 2022
The global electrosurgery devices market is projected to exhibit an above-average expansion during the forecast period 2017 to 2022, according to a new study by Fact.MR. Revenues from the market is estimated to reach roughly US$ 8,000 Mn by 2022-end.
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Numerous surgical procedures have witnessed transformation from traditional ways to adoption of various minimally-invasive techniques, with changing phase of medical sector. The number of elder population around the world has been witnessing a surge, along with rising healthcare coverage. According to statistics offered by the WHO, global elder population is expected to account for approximately 2 Bn by 2050-end. The elder population is becoming highly prone to several diseases such as cardiac arrests, gastrointestinal diseases, and cancer, which in turn has driven the demand for minimally invasive techniques in order to treat patients who prefer to avoid hospital stay as well as healing time. High unmet needs for minimally invasive procedures are offering huge scope for expansion of the global market for electrosurgery devices.
Electrosurgery devices find their application in various surgical procedures such as coagulation, devitalization, cutting, and thermofusion. Patients are now opting for electrosurgery on the back of their advantages which include faster recovery time, minimal chances of infection, low risk to patients, and easy to use. The governments across the globe are making investments in order to develop target-specific surgical devices, along with advanced medical treatment. Key players in the market are focusing on developing innovative electrosurgery devices. These players are also concentrating on development of new accessories and products, capable of providing improved tissue vaporization applications, multimodality application, and coagulation & cutting properties, in a bid to capitalize growth opportunities for the global electrosurgery devices market.
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North America to Remain Dominant in the Global Electrosurgery Devices Market
In 2017, North America will be dominant in the global market for electrosurgery devices in terms of revenues, and this trend will prevail through 2022. The electrosurgery devices market in Europe is estimated to grow at a relatively higher CAGR than North America between 2017 and 2022.
Sales of electrosurgery devices in gynecological surgery application are projected to hold the largest revenue share of the market by 2022-end. In addition, electrosurgery devices sales in urology, and gynecological surgery applications will register a parallel growth at similar CAGRs through 2022. Sales of electrosurgery devices for application in dermatology will register the fastest growth through 2022.