Medtronic (Ireland) and Ethicon (US) are Leading Players in the Electrosurgery Market
The global electrosurgery market is projected to reach USD 8.8 billion by 2025 from USD 6.4 billion in 2019, at a CAGR of 5.2%. The growth in this market is driven by technological advancements in electrosurgical instruments; the increasing demand for minimally invasive surgeries; the growing number of medical, cosmetic, and age-related surgeries performed; and the rising number of ambulatory surgery centers. However, risks associated with electrosurgical procedures are expected to restrain the growth of the electrosurgery market.
In 2018, Medtronic (Ireland), Ethicon (US), and Olympus (Japan) dominated the electrosurgery market. Other prominent players in this market include CONMED (US), B. Braun Melsungen AG (Germany), Applied Medical (Netherlands), Erbe Elektromedizin GmbH (Germany), Kirwan Surgical Products LLC (US), Bovie Medical Corporation (US), BOWA-electronic GmbH & Co. KG (Germany), KLS Martin Group (Germany), Boston Scientific (US), Smith & Nephew plc (UK), and CooperSurgical Inc. (US). In order to sustain their dominance in the electrosurgery industry, a majority of prominent players are focusing on increasing their geographical presence and strengthening their product portfolios through the strategies of product launches, agreements & partnerships, and acquisitions.
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Medtronic (Ireland) is one of the leading players in the global electrosurgery market. In order to sustain its leadership position and ensure its future growth, the company adopted several organic as well as inorganic strategies. In order to cater to the demand for a more precise and safe form of electrosurgery, the company acquired Mazor Robotics (Israel). Furthermore, the company focused on product commercialization and R&D activities to build a competitive advantage as well as to maintain its high market share. In line with this, Medtronic launched the Valiant Navion Thoracic Stent Graft System in Japan for the minimally invasive surgical repair for type B aortic dissections (TBAD) and thoracic descending aortic aneurysms (TAA).
Ethicon (US) held the second position in the global electrosurgery market in 2018. The company offers a broad range of products integral to the electrosurgery market, which are used across regions such as the Americas, Europe, the Asia Pacific, Africa, and the Middle East for various applications such as tissue dissection, coagulation, irrigation, and fluid evacuation. The company is also focusing on acquisitions (such as the acquisition of Megadyne and NeuWave Medical) as a key growth strategy to expand its product portfolio and geographic presence in the electrosurgery market.
Related Reports:
Electrosurgery Market by Product (Instruments (Bipolar, Monopolar), Accessories, Generators), Surgery (General, Orthopedic, Gynecology, Cosmetic, Neurology), End User (Hospitals, Ambulatory Center), Region - Global Forecast to 2025
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