The European electrosurgical devices market Overview:
The European electrosurgical devices market size is estimated to grow at a CAGR of 7.2% during the forecast period. The growth of the market can be attributed to the surge in rate of chronic disorders, aging population, and volume of surgical procedures. Furthermore, persistent R&D in this field for the technological advancement in the electrosurgery devices and rise in volume of minimally invasive surgeries and aesthetic & cosmetic surgical procedures are anticipated to create new opportunities during the forecast period. However, pitfalls such as stringent government regulations limit the European electrosurgical devices market.
Electrosurgical instruments & accessories is the top potential target market for investment for the key players. Their demand is expected to increase due to rise in the adoption of electrosurgical devices in all types of surgical procedures performed across Europe and the requirement of innovative and customized electrosurgical instruments & accessories, which correspond to the needs of surgeons also boost the growth of this market.
By country, Germany has accounted for the largest share of the electrosurgical devices market in Europe in 2015. Investment in healthcare sector mainly drives the growth in the market. The European Union health sector is largely contributed by public and private funding representing nearly 10% of GDP. Improvements in healthcare infrastructure largely impact the market growth.
The key players profiled in the report include B. Braun Melsungen AG (Germany), Bovie Medical Corporation (U.S.), Megadyne Medical Products Inc. (U.S.), CONMED Corporation (U.S.), Medtronic plc. (Ireland), Johnson & Johnson (U.S.), ERBE Elektromedizin GmbH (Germany), KLS Martin Group (Germany), Olympus Corporation (Japan), and Utah Medical Products, Inc. (U.S.).
Market Drivers and Restrains
Rise in number of surgical procedures across the globe
Increase in geriatric population in Europe has resulted in the rise in demand for surgeries and minimally invasive surgeries. Moreover, the plastic & reconstructive surgeries, which are generally performed for aesthetic/cosmetic purposes, have also gained popularity. Many key players in the surgical equipment market, therefore, shift their focus on emerging economies to expand their businesses.
Stringent Rules & Regulations for product approval
Stringent rules of EU reforms for electrosurgical devices are estimated to restrain the market growth during the analysis period.
European Electrosurgical Devices Key Market Benefits:
- The study provides an in-depth analysis of the European electrosurgical devices market share with current trends and future estimations to elucidate the investment pockets.
- The report provides a quantitative analysis from 2014 to 2022 that assists the stakeholders to capitalize on prevailing market opportunities.
- Extensive European electrosurgical devices market analysis, by product and application, helps understand various types of products used for different applications.
- Key market players are profiled in this report and their strategies are analyzed thoroughly, which predicts the competitive outlook of the market.
European Electrosurgical Devices Market Key Segment:
By Product Type:
- Electrosurgical Generators
- Argon & Smoke Management Systems
- Electrosurgical Instruments & Accessories
- Electrosurgical Instruments
- Bipolar Instruments
- Advanced Vessel Sealing Instruments
- Bipolar Forceps
- Monopolar Instruments
- Electrosurgical Pencils
- Electrosurgical Electrodes
- Suction Coagulators
- Monopolar Forceps
- Electrosurgical Accessories
- Patient Return Electrodes or Dispersive Electrodes
- Cords, Cables, and Adapters
- Other Accessories
- Bipolar Instruments
- Electrosurgical Instruments
- General Surgery
- Gynecology Surgery
- Urologic Surgery
- Orthopedic Surgery
- Cardiovascular Surgery
- Plastic and Reconstructive/ Cosmetic Surgery
- Rest of Europe
European Electrosurgical Devices Market Report Highlights
Key Market Players
B. BRAUN MELSUNGEN AG, MEGADYNE MEDICAL PRODUCTS, INC., CONMED CORPORATION, KLS MARTIN (KLS) GROUP, MEDTRONIC PLC, ERBE ELEKTROMEDIZIN GMBH., UTAH MEDICAL PRODUCTS, INC., OLYMPUS CORPORATION, BOVIE MEDICAL CORPORATION, JOHNSON & JOHNSON INC.
European electrosurgical devices market is forecasted to grow at a CAGR of 7.2% during the forecast period. Germany holds the largest share of electrosurgical devices market in Europe in 2015. This is attributed to the high adoption rate of advanced electrosurgical devices and well-established healthcare system in the country. According to OECD health statistics report published in October 2016, Germany has the highest rates of death due to heart diseases; more than 310 people per 100,000 die each year. Therefore, the demand for electrosurgical procedures is on a rise, which is estimated to increase the demand for electrosurgical devices in the country. The German medical device market is the largest in Europe and the third largest in the world. Increase in government expenditure for development of healthcare fuels the market up to larger extend.
Major companies involved in the production of electrosurgical devices market are Medtronic Plc., Johnson And Johnson Pvt. Ltd, B. Braun, and others.