Covid-19 impact: Electrosurgical Devices Market Opportunities To Reach $7.2 Billion By 2025

Market Factors At Play

· Electrosurgical devices include electrosurgical generators and a handpiece including one or more electrodes, monopolar and bipolar systems, and electrosurgical accessories to enhance the performance of the overall minimally invasive operating processes. During surgery, these devices offer ease of use and enhanced safety. Limited blood loss, minimized post-operative recovery time and improved surgical procedures efficiency are among the major factors aiding the growth of the market for electrosurgical devices.

· Electrosurgery is commonly used for dermatological, gynecological, digestive, neurological, ocular, spinal, ENT, orthopedic, along with certain dental and general surgical procedures. Patients favor electrosurgery over other surgeries due to its advantages such as minimum infection risks, quicker recovery time, and ease of use. Such advantages are expected to further fuel the global demand for electrosurgical products.

· In developing countries, increasing awareness of the latest surgical techniques is expected to ensure the steady growth of the global market. In addition, the growing demand for minimally non-invasive surgeries and increased adoption of technologically advanced products are further driving the market growth for electrosurgical devices.

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Region Specific Insights

· The North American region dominated the market which can be attributed to the local presence of a large number of market players and a high level of competition in the region coupled with a high adoption rate of advanced technology and the presence of skilled professionals.

Recent Developments

· In May 2018, Olympus launched and received the approval for the ESG-300 Electrosurgery Generator. This is the latest generation of electrosurgical devices developed majorly for GI and pulmonary and includes all of the modes and settings needed by physicians that require argon plasma coagulation (APC). The launch increased the ability to strengthen the portfolio of GI and pulmonary devices.

· In July 2018, Bovie Medical Corp. has agreed to sell its electrosurgical business and its brand name to Symmetry Surgical Inc. for $97 million. The sale will allow Bovie a medical device manufacturer headquartered in Clearwater, to focus on commercializing its J-Plasma/Renuvion technology in the cosmetic surgery market.

· In January 2019, ConMed Corporation, a Utica, New York-based surgical device maker, announced its agreement to acquire the privately held Buffalo Filter LLC for $365 million. Buffalo Filter develops surgical smoke evacuation technologies, including pencils, laparoscopic solutions, and related accessories.