Surgical Generators Sales to Generate US$ 421.5 Mn Revenue in 2019 - Future Market Insights
VALLEY COTTAGE, New York, December 11, 2018 /PRNewswire/ --
The growing number of minimally invasive surgeries is consequently expected to fuel the growth of the surgical generators market. Surgical generator plays a vital role in the electrosurgical procedure performed in most of the surgeries. Increasing number of ambulatory surgical centers and hospitals is projected to increase the demand for surgical generators, and boost the growth of the surgical generators market. Additionally, technological advancement in surgical generators, e.g., Argon Plasma Coagulation Generators, has increased the level of competition among the manufacturers in the surgical generators market.
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According to a latest research by Future Market Insights (FMI), the global surgical generators market is expected to account for over US$ 570.0 Mn, in terms of value, by 2028 end. The report on the surgical generators market further projects substantial growth potential with CAGR of 3.4% through 2028.
As per the American Society of Plastic Surgeons, the number of cosmetic surgical procedures performed in the U.S. were about 17.5 million in 2017, which included minimally invasive plastic surgeries. All the surgical interventions are operated with one or the other type of electrosurgical devices. In all the surgical procedures performed, approximately 80% require devices that provide energy to the tissue to perform the desired task. Electrosurgery is used for surgical ablation to perform hemostasis by causing coagulation at the targeted site, and tissue ablation is assisted by electrosurgical generator by providing highly amplified current to the cautery or ablation device.
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New product launches and increasing investment for research and development in surgical generators by the manufacturers are the other factors projected to boost the growth of the global surgical generators market over the forecast period. Moreover, the global surgical generators market comprises a wide variety of products based on the need from the end users, which offers ease in maneuverability and precision in performing ablation procedures. For instance, in 2016, Medtronic plc. launched Valleylab FT10 surgical energy generator platform - a revolutionary technology based on LigaSure vessel sealing technology - for use in electrosurgical procedures.
High-end healthcare facilities coupled with developed healthcare infrastructure in North America has escalated the number of ambulatory surgical centers. Besides, up-gradation of emergency rooms and ORs in hospitals is increasing the demand for surgical generators in the region. The growing geriatric population and rapidly improving healthcare infrastructure in Asia Pacific is expected to surge the demand for advanced surgical generators. Various training programs to improve the adaptability of the surgeon with reference to surgical generators have surged the demand for surgical generators in Europe.
Surgical Generators Market: Growing Number of Office-based Surgical Procedures to Boost Revenue Growth: Global Industry Analysis 2013 - 2017 and Opportunity Assessment 2018 - 2028: https://www.futuremarketinsights.com/reports/surgical-generators-market
The radiofrequency-based ablation techniques such as ultrasonic ablation, bipolar electrosurgical ablation device require heavy power source and investment in capital equipment. Thus, development of low-cost ablation devices has minimized the expenditure on maintenance and repair of capital equipment, and consequently decreased the cost of surgical generators. This in turn is expected to increase the adoption of surgical generators by surgeons and physicians. Employment of Argon Plasma Coagulation Generators eliminates the difficulty and hazards encountered due to the smoke produced, while performing surgical ablation. Additionally, these devices also improve the surgeon's accuracy and there is no need of altering the devices every time as the generators are compatible with a wide range of ablation devices.
FMI has segmented the global surgical generators market based on product type into Electrosurgical RF Generators, Electrocautery Generators, Ultrasonic Generators and Argon Plasma Coagulation Generators and on the basis of end user he market is further segmented into Hospitals, Ambulatory Surgery Center, Specialty Clinics and Trauma Centers. In terms of revenue, the electrosurgical RF generators segment in the surgical generators market is expected to hold major share over the forecast period. According to FMI, the electrosurgical RF generators segment accounted for over 49.4% revenue share in the overall surgical generators market in 2017. However, the growing popularity of Argon Plasma Coagulation Generators and its success in various studies for rapid surgical ablation solutions is projected to fuel the segment's growth in the near future. In contrary, the electrocautery generators segment in the surgical generators market is projected to exhibit limited investment opportunities, in terms of revenue, through 2028.
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The report tracks some of the key companies operating in the surgical generators market, including Bovie Medical Corporation, Boston Scientific Corporation, ERBE Elektromedizin GmbH, Olympus Corporation, CONMED Corporation, B. Braun Melsungen, Medtronic, Bowa, Soring, CooperSurgical, Ethicon, and KLS Martin, among others.
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