Delaware, U.S. – The electrosurgical devices market size is anticipated to exceed owing to the increasing number of surgeries being conducted on patients worldwide as well as rising demand for minimally invasive procedures. With population on a large becoming a custom to sedentary lifestyle, the prevalence of related diseases is likely to intensify among younger adults in the coming years. Issues like gynecology-related disorders can lead to a surge in the requirement for advanced medical devices and solutions in healthcare settings.
Incidents of orthopedic and cardiovascular diseases, gynecological and urological disorders are often caused due to inactive daily lifestyle. Major contributors to such a lifestyle are unhealthy diets, increasing levels of stress, among others. Inactive lifestyle with no physical activity is one of the major reasons causing diseases related to heart, diabetes, and in some cases premature mortality. With the vast cases of cardiovascular diseases, the demand for surgical treatment options could increase over time, thereby instigating the demand for electrosurgical devices.
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Some of the key players functioning in the electrosurgical devices market include Boston Scientific Corporation, Johnson & Johnson Private Limited, Medtronic Plc, Stryker Corporation, CONMED Corporation, Erbe Elektromedizin GmbH, Angio Dynamics, Inc., Olympus Corporation, B. Braun Melsungen AG, Smith & Nephew, among others.
All these major players are constantly focusing on taking strategic initiatives to strengthen their market position. For instance, in January 2017, Johnson & Johnson‘s unit, Ethicon Endo-Surgery announced acquisition of Megadyne Medical Products, after collaborating for four years in the electrosurgical devices market.
Japan is one of the largest markets for medical as well as electrosurgical devices. According to Global Market Insights, the Japan electrosurgical devices market accounted for a 42.7% share in the Asia Pacific region in 2020. The industry in Japan is expected to witness further growth in view of rising geriatric population.
As per the World Bank, over 28% of the Japan’s population is aged 65 or above. This is expected to result in several age-related health issues occurring among the elderly in the coming years, augmenting the demand for surgeries as well as electrosurgical devices. Along with this, the healthcare expenditure per capita is also relatively high in Japan as compared to other countries in Asia Pacific region, leading to better healthcare infrastructure in place. All these factors will contribute to the country’s regional market for electrosurgical devices.
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In terms of end-user, the ambulatory surgical units segment is expected to register a CAGR of 4.7% until 2027. Ambulatory surgical units (ASUs) offer benefits like low costs clinical procedures, same day discharge, better recovery time and low chances of infection. High footfall across ASUs may increase the requirement for electrosurgical devices.