Electrosurgery Market by Product - Generator, Electrosurgical Instruments (Vessel Sealing, Bipolar Forceps, Electrode, Suction Coagulator), Accessories, Surgery (General, Gynecology, Orthopedic, Cardiovascular, Cosmetic) - Global Forecasts to 2019
Dallas, TX -- (SBWIRE) -- 05/15/2014 -- 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.
On the basis of type of product, the global electrosurgery market has been divided into three major segments, namely, electrosurgical generators, accessories and instruments, and argon and smoke management systems. The electrosurgical instruments and accessories segment accounted for the largest share of the global electrosurgery market in 2014. It is also expected to grow at the highest CAGR in the next five years, owing to the increasing technological advancements in electrosurgery equipments.
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On the basis of geography, this market is classified into four regions, namely, North America, Europe, Asia-Pacific, and RoW (Latin America, Middle East, and Africa). 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.
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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.
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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