Global Electrosurgical Devices and Equipment Market Report 2022

New York, May 13, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the “Electrosurgical Devices And Equipment Global Market Report 2022” – https://www.reportlinker.com/p06277220/?utm_source=GNW

The global electrosurgical devices and equipment market is expected to grow from $7.93 billion in 2021 to $8.65 billion in 2022 at a compound annual growth rate (CAGR) of 9.1%. The market is expected to reach $11.54 billion in 2026 at a compound annual growth rate (CAGR) of 7.5%.

The electrosurgical devices market includes the sale of electrosurgical devices and related services. Electrosurgical devices include surgical generators and electrosurgical instruments. Electrosurgical instruments include monopolar, bipolar and ultrasonic instruments.

These devices deliver high frequency electrical currents and voltages through an active electrode. They are used to cut, seal and coagulate tissue during various open and laparoscopic surgical procedures.

The main products of electrosurgical devices are electrosurgical generators, electrosurgical instruments and accessories, argon and smoke management systems. Electrosurgery generators facilitate therapeutic endoscopy by providing the high frequency electrical current needed to operate endoscopic accessories.

The applications concerned are general surgery, gynecological surgery, urological surgery, orthopedic surgery, cardiovascular surgery, cosmetic surgery and neurosurgery. The different end users are hospitals, specialized clinics and outpatient surgery centers.

North America was the largest region in the electrosurgical devices market in 2021. Western Europe was the second largest region in the electrosurgical devices market.

Regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The increasing prevalence rate of chronic diseases has contributed significantly to the growth of the electrosurgical devices and equipment market. Electrosurgical devices are used in the surgery of many life-threatening diseases such as skin cancer, small basal cell carcinoma, squamous cell carcinoma, wound surgery. , skin surgery, non-cancerous moles, dentistry and others.

There has been an increase in the number of skin diseases in the world. For example, in 2019, according to a study conducted by the American Society of Clinical Oncology, approximately 2,000 people in the United States are diagnosed with Merkel cell carcinoma each year and this number has rapidly increased over the past few decades.

According to the WHO, the global burden of major chronic diseases currently accounts for 43% of all diseases and is expected to reach 60% by 2020. According to a United Nations report on the aging of the world’s population, the population over 60 years is projected globally to grow by 56% to reach 1.4 billion. The growth of the aging population and the increase in the incidence of chronic diseases will contribute to the increase in hospitalizations. The increase in the number of patients is expected to increase the demand for electrosurgical devices and equipment.

High incidence of product recalls is one of the factors restraining the growth of the electrosurgical devices and equipment market. The medical device industry is experiencing a significant increase in product recalls in recent years due to defective devices, software issues, labeling issues, and quality issues.

The electrosurgical devices and equipment market is a minor part of the medical device market and hence the recall of products in the electrosurgical market is quite common. For example, in March 2019, Covidien, PLC recalled its Covidien Force Traverse Class 2 electrosurgical device due to poor sterile packaging.

Zimmer Biomet, a medical device company, recalled that it is Class 1 SPF PLUS-Mini and SPF XL IIB Implantable Spinal Fusion Stimulators due to high levels of potentially harmful chemicals that may be toxic to tissues and organs. The FDA safety communication notice was Magellan Diagnostics and LeadCare of Meridian Bioscience, Inc. for its LeadCare test systems for giving inaccurate test results.

Electrosurgery is the application of a high frequency electric current to biological tissues to be created. Advancements in technology have led to the development of modern ESUs that provide the medically useful thermal effect.

This system is capable of continuously monitoring current and voltage, deriving parameters such as power and tissue resistance, and analyzing them. Depending on the desired treatment result, these devices can also maintain the operating parameters constant or change them in a targeted manner through control and regulation.

Manufacturers of electrosurgical equipment should consider investing in ESUs to increase their market share.

Regulatory changes related to the protection of customer data, such as the European Union’s General Data Protection Regulation (GDPR), changes to equipment approval procedures, and other regulatory changes are driving increased costs of developing and supplying electrosurgical equipment to health service organizations. GDPR is an EU data protection and privacy law for individuals residing in the European Union and the European Economic Area (EEA).

It also regulates the export of personal data outside of EU and EEA areas. According to a report by Ernst and Young, Fortune 500 companies spend $7.8 billion to comply with GDPR. In the United States, the US Department of Health and Human Services and the Center for Devices and Radiological Health regulate electrosurgical devices under the US FDA. There are two main ways that manufacturers can follow to obtain pre-market approval. One is to conduct clinical studies and submit a premarket approval (PMA) application that includes evidence that provides reasonable assurance that the device is safe and effective. The other method is to submit a 510(k) notification demonstrating that the device is substantially equivalent to a device already on the market (a predicate device) that does not require PMA. The FDA is asking for more clinical data to support claims, increasing 510(k) processing times by more than 55% over the past decade. Delays in product launches and additional costs incurred due to stringent approval processes have strained investments related to the development of new electrosurgical equipment products, resulting in potential loss of revenue.

Countries covered in Electrosurgical Devices market are Brazil, China, France, Germany, India, Indonesia, Japan, South Korea, Russia, UK, US United and Australia.
Read the full report: https://www.reportlinker.com/p06277220/?utm_source=GNW

On Reportlinker
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need – instantly, in one place.

__________________________


Clare: [email protected]
US: (339)-368-6001
Intl: +1 339-368-6001

main logo

Source link

About Chris Y. Camp

Check Also

Lifeguard Rescue Equipment: Massively Expanding Market By 2022-2028 Profiling Major Players

Lifeguard Lifesaving Equipment Market 2022 this report is included with the Impact of latest market …