HOME Research Insight High Growth Potential in the Advanced Vessel Sealing Instruments Segment to Offer Opportunities for Market Leaders in Emerging Countries such as China, Brazil, India, and Mexico

High Growth Potential in the Advanced Vessel Sealing Instruments Segment to Offer Opportunities for Market Leaders in Emerging Countries such as China, Brazil, India, and Mexico

Over the last two decades, the trend of surgical procedures has witnessed significant technological advancements. These technological advancements are transforming the practice of electrosurgical procedures throughout the world.

North America (except Mexico) and a major part of the European region are mature markets for electrosurgical devices. However, the developing regions such as Asia-Pacific (including China and India), Latin America (Brazil and Argentina), and Middle East are expected to become the new revenue generating markets for electrosurgical devices. The electrosurgery market in these emerging regions is primarily driven by various economic developments. Moreover, growing demand of aesthetic procedures, developing healthcare infrastructure, large population base, and rising government initiatives to increase the population access to the elective surgery are some of the other key factors fueling the growth of the electrosurgery market in these regions. Due to the above stated favorable growth conditions in the emerging countries, a number of players in the electrosurgical devices market are investing in them. For instance, in January 2014, Covidien plc (Ireland) acquired a Brazil based electrosurgical devices manufacturing company, WEM Electronic Equipment Ltda., to expand its business in the emerging Brazilian market.

In the Asia-Pacific region, the electrosurgery market in China is estimated to grow at the highest CAGR in the next five years. A number of factors such as huge population base and government initiatives to modernize healthcare systems with corresponding reimbursement facilities are the major drivers contributing to the growth of the electrosurgery market in China. In addition, rising prevalence of obesity and chronic diseases, aging population, and growing popularity of cosmetic surgeries are some of the other factors contributing in the high growth rate of the Chinese electrosurgery market. Market leader, Covidien plc (U.S.) is expanding its facilities in China, in order to meet the projected demand. Moreover, the electrosurgery market in India is also expected to witness a robust growth in the forecast period. The evolving electrosurgical devices market in India offers remarkable growth opportunities due to factors such as the availability of skilled physicians and nurse practitioners, low cost of surgeries, and growing focus of international and domestic players on the Indian electrosurgery market. The combined efforts of the government agencies and the public sector organizations to increase healthcare awareness have enabled the Asia-Pacific and the RoW (Latin America, Middle East, and Africa) regions to become attractive markets for electrosurgical device manufacturers.

Advanced energy based vessel sealing instruments segment is a promising market, which is showcasing high growth opportunities for market players. Various factors such as technological advancements in the vessel sealing instruments, increasing preference of minimally invasive surgical procedures, changing reimbursement scenario, and growing awareness about the patient safety during surgeries are fueling the growth of the advanced vessel sealing instruments market. Several companies such as Covidien plc (Ireland), Ethicon (U.S.), Bovie Medical Corporation (U.S.), and Olympus Corporation (Japan) are investing in this high growth market, in order to gain more profits and increase their share in the global electrosurgery market.

Related Reports:

Electrosurgery Market by Product - Generator, Electrosurgical Instruments (Vessel Sealing, Bipolar Forceps, Electrode, Suction Coagulator), Accessories, Surgery (General, Gynecology, Orthopedic, Cardiovascular, Cosmetic) - Global Forecasts to 2019)

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