Growth within the electrosurgical devices market will be driven by the increasing demand for minimally invasive surgery, and the rapid advancements in technology through 2016, increasing at a compound annual growth rate (CAGR) of 5.45%.
The biggest concern today is safety of patient and staff. Improved technologies have been developed that can cut and coagulate tissue faster and more successfully, with minimal thermal and electrical spread, and reduced interference with intra-operative monitoring equipment.
Moreover, for safety purposes, medical device manufacturers have developed advanced energy modalities that consist of argon beam coagulation to stop bleeding, lasers for specific hemostatic partition, ultrasound for selective tissue aspiration, saline enriched coagulation, ferromagnetic technology for defined hemostatic splitting up with negligible collateral damage, without passing current through the tissue.
In addition, there is a rise in commercialisation of application specific electrosurgery units or specialty generators designed to be used with particular accessories for a specific treatment modality.
Minimally invasive surgery offers numerous benefits to patients and surgeons including faster recovery, fewer post-surgery infections, less pain, reduced visible marks, bleeding control, and enhanced accuracy.
A major challenge currently hindering the market is the increasing risk of side effects from electrosurgical devices. Such risks are hampering the acceptance of advanced electrosurgical devices.
Three companies continue to dominate the electrosurgical devices market - Covidien, Erbe and ConMed. Covidien continues to remain the dominate player with nearly 40% market share.
Erbe is the second largest market player with an 11% market share. Erbe has a strong presence in European countries such as Germany. The company also has a significant presence in the US electrosurgical devices market.
ConMed is the third largest market player with an 8% market share. ConMed displays strong presence in both the US and Asia-Pacific markets.
For more information on the electrosurgical devices market, see the latest research: Medical Device Market Research
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