Electrosurgical Devices market size is projected to experience significant growth from 2018 to 2024.
Electrosurgical devices market will witness significant growth owing to rising elderly patient base across the globe. Escalating number of surgical procedures due to increasing prevalence of chronic diseases among the aging population will further drive electrosurgical devices market growth over the coming years.
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Soaring demand for minimally invasive procedures such as aesthetic and cosmetic procedures will propel electrosurgical instruments market growth in the future. Benefits associated with these non-invasive treatments such as decreased hospitalization period, speedy recovery, curtailed risk of infections and lower operative pain will positively contribute to overall business growth.
Development of novel electrosurgical instruments by the major industry players will escalate adoption and drive business growth. For instance, in August 2016, Erbe Elektromedizin announced the launch of its latest generation electrosurgical device (VIO 3), that functions as a generator for the physicians in the operating rooms and supports bipolar and monopolar technologies coupled with maximum ease-of-use.
However, frequent product recalls due to sterilization and safety issues related to the components and accessories will hinder industry growth. Complications associated with electrosurgical instruments such as improper usage, insulin failure, direct coupling of current and capacitive coupling resulting into electrothermal injury is another major factor hampering the electrosurgical devices market growth. However, Association of Surgical Technologies (AST) has developed Standard of Practices and guidelines for healthcare professionals that ensures proper usage of electrosurgery.
Electrosurgical instruments and accessories segment held a momentous share as of 2017, due to its rising demand in minimally invasive surgeries coupled with advantages offered such as minimal blood loss and reduced postoperative risks.
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Electrosurgical instruments are bifurcated into monopolar and bipolar instruments of which bipolar is slated to witness significant growth due to benefits offered such as minimal risk of burning when conductive objects are touched, lower electrical interference from other devices, small leakage of current and wide usage in sensitive procedures such as neurosurgery and laparoscopy for effective incision and coagulation.
Cosmetic surgeries will grow at a rapid pace owing to high demand for minimally invasive surgeries, rising geriatric patient base globally and intensified spending on aesthetic procedures. Broad spectrum usage of these devices in general surgery, gynecology, gastroenterology, urology, orthopedic, cardiovascular and neurosurgeries will further propel industry expansion.