| 02 Mars 2016
LONDON, UK (GlobalData), 1 March 2016 - The global electrosurgical devices market will experience steady growth, rising from $4.35 billion in 2015 to $5.56 billion by 2021, representing a Compound Annual Growth Rate (CAGR) of 4.11%, says research and consulting firm GlobalData.
According to the company’s latest report*, this expansion, which will occur across the 10 major markets (10MM) of the US, France, Germany, Italy, Spain, UK, China, India, Brazil and Japan, will be driven by an increase in minimally invasive procedures, the growth of computer-assisted surgery, aging populations, and untapped potential in emerging markets. Shashank Settipalli, GlobalData’s Analyst covering Medical Devices, says minimally invasive surgery has become a very attractive option over open surgeries, while robotic surgery will continue to increase in popularity. Settipalli explains: “Minimally invasive surgeries require smaller incisions and lead to quicker recovery times, while placing lower financial burdens on patients and healthcare systems. The resultant increased need for instruments, accessories, and equipment specialized for minimally invasive procedures will help the electrosurgical devices arena to expand.” “Furthermore, the expansion of computer-assisted surgery will also encourage market growth due to the increased adoption of specialized instruments used in robotic surgery. Indeed, electrosurgical devices better adapted to robotic platforms have ample opportunities to advance in the future.” Key players in the market will include manufacturers such as Medtronic, Olympus, Ethicon, B. Braun, and ConMed, all with varying specialities and focuses. In terms of specific devices that will make a big impact on the market, radiofrequency generators are an important segment. Some of the largest medical technology firms in the world market these generators, the most widely used and the most versatile of surgical generators. The most notable player in this space is Medtronic.
