US electrosurgical generators market to record 7.7% CAGR by 2026
The US electrosurgical generators market is expected to record considerable growth on account of increasing prevalence of chronic health diseases. Over the years, the US has seen a spike in the number of surgical procedures owing to rising cases of severe diseases and accidents.
Technological innovations have supported the development of pioneering healthcare solutions, driving the demand for electrosurgical generators with regulated electric accuracy.
Adoption of such generators will effectively help replace conventional surgical procedures. On the basis of these growth drivers, Global Market Insights suggests that the US electrosurgical generators market could surpass $1.2bn by the year 2026.
However, factors like critical side effects of current flow and increasing imposition of stringent federal regulations pertaining to product approval could hinder overall market growth within the predicted time period.
Listed below are some of the key trends driving US electrosurgical generator industry growth:
1) Minimally invasive surgeries gaining traction
Patients are increasingly preferring Minimally Invasive Surgeries (MIS) as they offer quicker recovery time and lesser blood loss. Increasing adoption of MIS across the US could massively boost the demand for electrosurgical generators. These surgeries are heavily dependent on electrosurgical generators owing to its remarkable benefits like minimal chances of infection, ease of usage, low risk to patients, and speedy recovery.
Rapid integration of advanced technologies in electrosurgical equipment could enhance business outlook. Citing an instance, Bovie introduced the IDS technology in its new IDS-400 electrosurgical generator, offering surgeons the flexibility to reliably choose the desired effect type with maximum safety and convenience.
The Bovie IDS series comes with complete digital functionality, making it suitable for modern surgical outpatient centers and operating rooms. Moreover, its bipolar and monopolar functions take care of all surgical demands while delivering an optimum user-friendly interface.
2) Mounting demand across hospitals
Hospitals mainly use electrosurgical generators to avoid accidental damages and burns during surgeries while maintaining utmost patient safety. Estimates suggest that the hospitals held for a majority share in the end-user segment and is anticipated to cross $350m by the end of 2026.
Rising occurrence of chronic disease across the United States has propelled the demand for surgical treatments in hospitals. Factors like availability of technologically advanced instruments in hospital settings and well-developed infrastructure would drive patient to healthcare facilities.
3) Rising adoption of tactical business strategies
Prominent players like Erbe Elektromedizin, CONMED Corporation, Elliquence, Smith & Nephew, Cooper Surgical, and Utah Medical Products are devoting their efforts on signing new acquisition, partnership, or merger deals and launching innovative products to strengthen their consumer base and product portfolio.
Taking May 2019 for instance, Olympus Corporation launched its ESG-150 Electrosurgery Generator, which improves patient safety while being easy to operate.
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