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Electrosurgical Devices And Equipment Global Market Report 2021: COVID 19 Impact and Recovery to 2030

ReportLinker
·5 min read

Major players in the electrosurgical devices market are Bovie Medical Corporation, Johnson & Johnson Private Limited, B. Braun Melsungen AG, Medtronic PLC, and Smith and Nephew. The global electrosurgical devices and equipment market is expected to grow from $2.

New York, May 05, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Electrosurgical Devices And Equipment Global Market Report 2021: COVID 19 Impact and Recovery to 2030" - https://www.reportlinker.com/p06067887/?utm_source=GNW
69 billion in 2020 to $2.9 billion in 2021 at a compound annual growth rate (CAGR) of 7.8%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $3.78 billion in 2025 at a CAGR of 6.8%.

The electrosurgical devices market consists of sales of electrosurgical devices and related services.Electrosurgical devices include surgical generators and electrosurgical instruments.

Surgical generators include radiofrequency, ultrasonic, electrocautery, and argon plasma equipment.Electrosurgical instruments include monopolar, bipolar, and ultrasonic instruments.

These devices deliver high- frequency electrical currents and voltages through an active electrode. They are used for cutting, sealing, and coagulating tissue during a variety of open and laparoscopic surgical procedures.

The regulatory changes related to customer data protection such as the European Union’s General Data Protection Regulation (GDPR), changes to equipment approval procedures, and other regulatory changes are leading to increased costs of electrosurgical equipment product development and supply to healthcare services organizations.The GDPR regulation is an EU law on data protection and privacy of individuals residing in the European Union and the European Economic Area (EEA).

It also regulates the export of personal data outside the EU and EEA areas. According to a report by Ernst and Young, Fortune 500 companies are spending $7.8 billion to comply with GDPR regulations. In the USA, the U.S. Department of Health and Human Services and Center for Devices and Radiological Health are regulating electrosurgical devices under US FDA. There are two main ways that manufacturers can follow for premarket approval. One way consists of conducting clinical studies and submitting a premarket approval (PMA) application that includes evidence providing reasonable assurance that the device is safe and effective. The other way involves submitting 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 a PMA. The FDA is requesting more clinical data to support claims, therefore increasing the time to process 510(k)s by over 55% over the last decade. The delays in product releases and additional costs incurred due to stringent approval processes put a strain on investments relating to electrosurgical equipment new product development resulting in potential loss of revenue.

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

There has been an increase in the number of skin diseases worldwide.For example, in the year 2019, according to one study conducted by the American Society of Clinical Oncology, around 2,000 people in the USA are diagnosed with Merkel cell carcinoma each year and this number rapidly increasing from past decades.

According to WHO, the global burden of major chronic diseases currently accounts for 43% of all diseases and is set to rise to 60% by 2020. According to a United Nations’ report on world population aging, during 2015-2030 globally the 60+ aged population is projected to grow by 56% to reach 1.4 billion. The growth of the aging population and rising chronic disease incidence will contribute to increased hospitalization. The increase in a patient the pool is expected to rise the demand for electrosurgical devices and equipment.

Electrosurgery is the application of a high-frequency electric current on biological tissue with the goal of creating.Technological advances have led to the development of modern ESUs that deliver the medically useful thermal effect.

This system is capable of continuously monitoring current and voltage, derive parameters such as power and tissue resistance, and analyze them. Depending on the desired treatment outcome, these devices can also keep the operating parameters constant or change them in a targeted manner through control and regulation. Electrosurgical equipment manufacturers should consider investing ESUs to increase market share in the market

The high incidence of product recalls is one of the factors restraining the electrosurgical devices and equipment market growth.The medical device industry is seeing a significant spike in product recalls during recent years due to defective devices, software issues, mislabeling issues, and quality issues.

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

Zimmer Biomet, a medical device company recalled it is class 1 SpF PLUS-Mini and SpF XL IIB Implantable Spinal Fusion Stimulators due to high levels of potentially harmful chemicals which may be toxic to tissues and organs. FDA Safety Communication notice was Magellan Diagnostics and LeadCare of Meridian Bioscience, Inc. for its LeadCare Testing Systems for giving inaccurate test results.
Read the full report: https://www.reportlinker.com/p06067887/?utm_source=GNW

About 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.

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