Easy electro surgery procedures and numerous applications are expected to fuel growth of the Electro Surgery Market
According to World Health Organization (WHO), colorectal cancer is the second most common cancer among men and women. Moreover, according to American Cancer Society, 2017 around 135,430 people are estimated to be diagnosed with colorectal cancer, 40% of which are already at an advanced stage of the cancer.
Electrosurgery involves application of electrical current to a biological tissue to cut, coagulate, desiccate or fulgurate. Electricity is used to cause thermal destruction of tissue through dehydration, coagulation, or vaporization. The tissue acts as a resistance to the passing current and converts it into heat. High-frequency electro surgery and electro cautery are the two types of electrosurgeries used.
Electro surgery has a wide range of applications in teeth related procedures, laparoscopy, and chronic diseases (related to kidney and abdomen, among others), with dermatological treatments being the most prominent among others. According to World Health Organization (WHO), one in every three cancer patients suffers from skin cancer. This creates a large patient base opting for electro surgery.
Treatment with curettage and electro surgery for skin cancer has a cure rate of around 99 out of 100 for basal cell cancer, making electro surgery a co-therapy for the treatment.
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According to the new report, An Aging World: 2015, published by National Institute on Aging (NIA), 8.5% of the people worldwide (617 million) are 65 years of age or older and are at a greater risk of developing chronic diseases, which in turn, increases demand for electro surgery procedures. Advancements in technology are expected to improve the performance of electrosurgical generators, ensuring delivery of appropriate heat energy for treatment of the patient.
Advancements in technology, growing geriatric population, and increasing prevalence of chronic diseases related to kidneys and heart, among others are few factors that are expected to fuel growth of the market for electro surgery.
Patients with cochlear implants, cardiac and gastric pacemaker implants, and Implantable Cardioverter Defibrillator (ICDs) are not advised to go under electro surgery, as it can lead to fatal adverse effects. This poses as a major restraint for growth of the market.
Inexpensive electro surgery devices and low maintenance costs are expected to boost growth of the electro surgery market
Chronic diseases are the leading cause of death and disability in the U.S. According to Centers for Disease Control and Prevention, chronic diseases are expected to affect an estimated 164 million people living in the U.S. by 2025. According to International Society of Aesthetic Plastic Surgery, top five countries namely, the U.S., Brazil, Japan, Italy, and Mexico account for 41.4% of the world’s cosmetic procedures, followed by Russia, India, Turkey, Germany, and France. 2015.
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The U.S. is the largest market for electro surgery in North America. This is attributed to the country accounting for the highest number of cosmetic procedures, with 1.4 million surgical and 2.6 million non-surgical procedures. Moreover, the country had 6,500 active plastic surgeons, which is the highest in the world, followed by Brazil with 5,500 and China with 2,800 plastic surgeons according to International Society of Aesthetic Plastic Surgery (ISAPS), 2015. This in turn, drives growth of the market for electro surgery in North America. Other factors driving growth of the market in the region include increasing obesity, provisions of the Affordable Care Act that provides favorable reimbursement for use of electro surgery, and growing geriatric population—highly susceptible to chronic diseases due to weak immune systems. Asia Pacific is expected to exhibit the highest growth rate due of increasing demand for cosmetic procedures and improving healthcare infrastructure. India and South Korea were among top five countries to have performed surgical and non-surgical cosmetic procedures in 2015 according to ISAPS.
Mergers and acquisitions leading to market consolidation
Key players operating in the electro surgery market include ERBE Elektromedizin GmbH, BOWA-electronic GmbH & Co. KG, Bovie Medical Corporation, and CONMED Corporation. In 2017, Ethicon Endo-Surgery, Inc. acquired Megadyne Medical Products, Inc. Also, in 2017, U.S. Endoscopy, a leader in endoscopy device design and manufacturing, acquired Genii, Inc.
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