Dallas, TX -- (SBWIRE) -- 06/30/2014 -- 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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The electrosurgery instruments market comprises of bipolar instruments (advanced vessel sealing instruments and bipolar forceps) and monopolar instruments (electrosurgical pencils, electrodes, suction coagulators, and monopolar forceps). The electrosurgical accessories market includes patient return electrodes, cords, cables, adapters, foot switches, carts, and tip cleaners.
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In the report, the global electrosurgery market has also been segmented on the basis of type of surgery, general surgery, gynecology surgery, urologic surgery, orthopedic surgery, cardiovascular surgery, cosmetic surgery, neurosurgery, and others (ENT, dermatology, and ophthalmic surgeries).
The global electrosurgery market is estimated to grow at a CAGR of 5.9% from 2014 to 2019.
A number of factors such as the worldwide development of advanced energy based electrosurgical generators and instruments increase in the aging population (which is increasing the demand of age related surgeries) and rising demand of minimally invasive procedures are propelling the growth of the global market. However, ongoing healthcare reforms in the U.S., regulatory product recalls, and rising price pressure on the market players are some of major factors restraining the growth of this market. In addition to this, stiff competition in the industry is the key challenge faced by the market players.
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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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