GVR Report cover Ultrasonic Electrosurgical Devices Market Size, Share & Trends Report

Ultrasonic Electrosurgical Devices Market Size, Share & Trends Analysis Report By Product (Consumables, Generators), By Type, By Application, By End Use, By Region, And Segment Forecasts, 2021 - 2028

  • Published Date: Oct, 2021
  • Base Year for Estimate: 2020
  • Report ID: GVR-4-68039-556-6
  • Format: Electronic (PDF)
  • Historical Data: 2017 - 2019
  • Number of Pages: 178

Report Overview

The global ultrasonic electrosurgical devices market size was valued at USD 3.69 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 5.04% from 2021 to 2028. The increasing number of surgical procedures owing to the growing prevalence of chronic diseases, rising adoption of minimally invasive surgeries, and developments in minimally invasive surgical techniques, including laparoscopy, have resulted in the development of ultrasonic electrosurgical devices by major market players. In addition, increasing demand for patient safety during complex surgical operations has led to the growing adoption of ultrasonic electrosurgical devices. The presence of a large number of players and their growing number of strategic initiatives to enhance their product portfolios are projected to boost the market growth.

 U.K. ultrasonic electrosurgical devices market size, by product, 2018 - 2028 (USD Million)

Technological development has led to an increase in the number of surgeries being performed each year. Owing to the risk of infections associated with invasive surgeries, people prefer noninvasive or minimally invasive surgeries. Furthermore, an increase in the number of road accidents, an aging population, and rising healthcare expenditure in emerging economies are among the factors likely to boost the number of surgical procedures during the forecast period. These are anticipated to positively influence the revenue generation from ultrasonic electrosurgical devices. According to the U.S. Census Bureau, healthcare spending worldwide is anticipated to increase to USD 18.28 trillion by 2040, expanding at a CAGR of 2.6%. According to the WHO, the world’s population aged 60 years and above is expected to reach 2 billion by 2050 from 900 million in 2015. The geriatric population is more susceptible to a vast number of diseases, which is likely to increase the need to treat diseases effectively, thereby boosting the growth of the market.

The rising prevalence of various types of cancer such as breast cancer, colon cancer, prostate cancer, and lung cancer is anticipated to boost the demand for ultrasonic electrosurgical devices for the treatment and surgery of various tumors in the body. Cancer is considered a universal healthcare problem as it is one of the leading causes of death. For instance, according to the National Cancer Institute, about 1,806,590 new cancer cases were diagnosed in the U.S. in 2020. In addition, according to the American Cancer Society, around 1.8 million new cancers were estimated to be diagnosed in the U.S in 2020. Furthermore, the increasing incidence of cancer across the globe is predicted to boost the demand for ultrasonic electrosurgical devices. For instance, according to the WHO, over 3.7 million new cancer cases are diagnosed each year in Europe. Thus, the growing prevalence of cancer throughout the globe is projected to create high growth opportunities for the market players over the forecast period.

Furthermore, the growing health initiatives and healthcare spending by the government of developing and developed countries for the effective treatment of chronic disorders are expected to boost the growth of the market. The Canadian government is investing significantly in establishing medical centers such as Centre Hospitalier Universitaire Sainte-Justine in Montreal, North Island Hospitals Project, and Centre Hospitalier de l'Université de Montréal. According to an article published by Charles E. Schumer, United States Senator for New York, VA outpatient surgical center in Monroe county received USD 6.9 million funding for phase II development that will complement the new 84,000 square foot VA community-based outpatient ambulatory surgical clinic. This funding was included in the president’s financial year 2017 budget. Thus, such government initiatives are expected to propel the growth of the market.

Product Insights

The ultrasonic electrosurgical consumables segment accounted for the largest revenue share of over 55.0% in 2020. The ultrasonic electrosurgical consumables segment is further divided into electrosurgical hand-pieces, electrosurgical electrodes, electrosurgical scalpels, electrosurgical forceps, and electrosurgical pencils. The segment is growing rapidly due to the fact that they are generally disposable and have low durability compared to ultrasonic electrosurgical generators. In addition, consumables are reusable in various surgical procedures and have a restricted usage cycle, hence contributing to the segment growth.

The ultrasonic electrosurgical generators segment is anticipated to grow at a lucrative rate during the forecast period. The generators pass an electric current through the patient’s body to conduct the surgery. Generators have different power levels and quality control measures to adjust pre-surgery, which takes care of patient safety during the surgery. However, factors such as heavy initial costs, the need forrepair and maintenance, and lengthy installation procedures of these devices in the hospitals can impede the growth of the market.

Application Insights

Cardiology held the largest share of over 25.0% in 2020 owing to the rising cases of cardiac disorders. As per the CDC, coronary heart disease is among the most common type of heart disease and around 365,914 people died in 2017 due to this. In addition, as per the WHO, about 17.9 million people die of cardiovascular disorders each year. Hence, the increasing prevalence of cardiovascular diseases globally is anticipated to boost the market growth.

The gynecology segment is expected to witness significant growth during the forecast period. Gynecology is a broader branch of medicine including all-female reproductive organ disorders. These surgeries involve the use of surgical tools, such as laparoscopes and hysteroscopes. The growing development of ultrasonic electrosurgical devices for gynecology by key players is expected to contribute to the segment growth.

End-use Insights

The hospitals segment captured the largest share of over 45.0%in 2020. The growth is attributed to a large number of cases and preventive surgical procedures being carried out in these settings. Around 125.7 million casualty department visits were reported in the U.S. with a surge in the number of surgeries, such as kidney and liver transplants and angioplasty. In addition, the presence of a well-qualified team of medical experts in one place is fueling the market growth.

Ambulatory surgical centers (ASCs) are projected to witness significant growth over the forecast period. This can be attributed to the lower out-of-pocket costs, better patient accessibility, and decreased facility costs.

Type Insights

The high-intensity focused ultrasonic (HIFU) ablators held the largest share of over 35.0% in 2020. The growth of the segment is attributed to various factors including lowered toxicity as compared with the other techniques of ablation, minimal pain due to non-invasiveness, and low cost of procedure than surgery. Other factors such as suitability for this procedure among patients with high risk as it involves a lower rate of anesthesia, faster recovery rate than the traditional surgical procedures, low risk of infection, and the ability to clog the bleeding with the help of ultrasound during the procedure are also expected to fuel the segment growth.

Global ultrasonic electrosurgical devices market share, by type, 2020 (%)

The ultrasonic surgical ablation systems are expected to witness significant growth during the forecast period owing to the incidence of cardiovascular disorders, the growing demand for minimally invasive cardiac surgeries for its treatment, the rising prevalence of cancer and chronic pain, the growing geriatric population, and technological advancements in ultrasonic surgical ablation systems.

Regional Insights

North America accounted for the largest revenue share of over 35.0% in 2020. This growth can be mainly attributed to the increasing number of preventive surgeries, the growing burden of chronic disorders, such as cancer, diabetes, and autoimmune diseases, the increasing adoption of technologically advanced devices, and the rising preference for minimally invasive surgical procedures.

Asia Pacific is expected to register the fastest growth rate during the forecast period. This growth can be attributed to various factors such as the high adoption of advanced technologies, the rising prevalence of chronic disorders, the increasing reimbursement scenario, the presence of a large geriatric population, the growing demand for minimally invasive procedures over traditional methods, and the increased need for laparoscopic surgery. In addition, key market players usually invest in developing countries to establish their footprint in the new marketplace to meet the large demand for ultrasonic electrosurgery devices.

Key Companies & Market Share Insights

Key companies have high R&D spending capacity and are observed to invest significantly in the development of new and advanced ultrasonic electrosurgical devices to gain a competitive edge in the market. Furthermore, companies are focusing on other strategic initiatives, such as new product development, mergers, acquisitions, joint ventures, partnerships, and geographical expansions. For instance, in October 2019, Olympus Corporation has taken over all the commercial activities related to the VERSAPOINT Electrosurgery system from Ethicon, Inc. Some prominent players in the global ultrasonic electrosurgical devices market include:

  • Ethicon - Endo-Surgery

  • Olympus Corporation

  • Medtronic

  • Misonix Inc.

  • BOWA-electronic GmbH

  • Söring GmbH

  • Advanced Instrumentations

  • Reach Surgical

  • ITALIA MEDICA SRL

  • SonaCare Medical

  • Miconvey

 Ultrasonic Electrosurgical Devices Market Report Scope

Report Attribute

Details

Market size value in 2021

USD 3.86 billion

Revenue forecast in 2028

USD 5.45 billion

Growth Rate

CAGR of 5.04% from 2021 to 2028

Base year for estimation

2020

Historical data

2017 - 2019

Forecast period

2021 - 2028

Quantitative units

Revenue in USD million and CAGR from 2021 to 2028

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

Product, type, application, end use, region

Regional scope

North America; Europe; Asia Pacific; Latin America; MEA

Country scope

U.S.; Canada; U.K.; Germany; France; Italy; Spain; Japan; India; China; Australia; South Korea; Brazil; Mexico; Argentina; Columbia; South Africa; Saudi Arabia; UAE

Key companies profiled

Ethicon - Endo-Surgery; Olympus Corporation; Medtronic; Misonix Inc.; BOWA-electronic GmbH; Söring GmbH; Advanced Instrumentations; Reach Surgical; ITALIA MEDICA SRL; SonaCare Medical; Miconvey

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Free report customization (equivalent up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope.

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Segments Covered in the Report

This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2017 to 2028. For the purpose of this study, Grand View Research has segmented the global ultrasonic electrosurgical devices market report on the basis of product, type, application, end use, and region:

  • Product Outlook (Revenue, USD Million, 2017 - 2028)

    • Generators

    • Consumables

  • Type Outlook (Revenue, USD Million, 2017 - 2028)

    • High-intensity Focused Ultrasonic (HIFU) Ablators

    • Magnetic Resonance-guided Focused Ultrasonic (MRGFUS) Ablators

    • Ultrasonic Surgical Ablation Systems

    • Shock Wave Therapy Systems

  • Application Outlook (Revenue, USD Million, 2017 - 2028)

    • Cardiology

    • Gynecology

    • General Surgery

    • Urology

    • Bariatric Surgery

    • Others

  • End-use Outlook (Revenue, USD Million, 2017 - 2028)

    • Hospitals

    • Ambulatory Surgical Centers

    • Others

  • Regional Outlook (Revenue, USD Million, 2017 - 2028)

    • North America

      • U.S.

      • Canada

    • Europe

      • Germany

      • U.K.

      • France

      • Italy

      • Spain

    • Asia Pacific

      • China

      • Japan

      • India

      • Australia

      • South Korea

    • Latin America

      • Brazil

      • Mexico

      • Argentina

      • Colombia

    • Middle East & Africa

      • South Africa

      • Saudi Arabia

      • UAE

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