Developing healthcare infrastructure, rising healthcare expenditure, immense rise in technological advancements, and demand for effective medical procedures are propelling the global market for electrosurgical devices. Electrosurgical procedures are utilized for numerous medical disciplines such as general surgery, abdominal surgery, gastroenterology, gynecology, pneumology, and urology. High unmet demand for minimally invasive surgeries are providing huge opportunities for growth of electrosurgery devices, as they find applications in various important surgical procedures such as thermofusion, devitalization, coagulation, and cutting. Due to factors such as ease of usage, minimal chances of infection, faster recovery time, and low risk to the patient various health organizations are promoting application of electrosurgery over conventional surgical techniques.
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Spiraling Trend of Minimally Invasive Surgery Gives Market Shot in Arm
As an electrosurgical devices vendor, you could find favorable growth prospects birthing on the back of the rise in geriatric population which is frequently prone to several diseases because of weak immunity. The population has been predicted to reach close to a 2.0 bn by 2050, according to WHO. Then there’s this rapidly growing trend of minimally invasive surgeries commonly performed in flexible endoscopic procedures, laparoscopic procedures, and open surgical procedures and also in the fields of cosmetology and gynecology. Today, patients could opt for the best treatment options available because of the provision of cashless medical facility and medical insurance. This has allowed end users to make an unhesitant purchase of electrosurgical devices.
Furthermore, the development of advanced energy-based products and increasing government initiatives to improve access to elective surgery have been projected to up the demand in the world electrosurgical devices market.
Stringent Regulatory Requirements for Approval of Products Arrest Growth
U.S. manufacturers have been discouraged at large due to the long procedure of FDA approval of electrosurgical devices and stringent regulatory requirements. As a result, the manufacturers have been setting their hopes on Asia and Europe for a successful launch of their new products. Electrosurgical complications could be another factor that players need to take into account. During the delivery of energy to the tissue, the rate of electrosurgical complications has been reported by the Society of American Gastrointestinal and Endoscopic Surgeons to be an around 27.0%. Furthermore, surgeons with ordinary skillsets could limit the growth of the international electrosurgical devices market.