Ultrasonic Electrosurgical Device Market: Current Analysis and Forecast (2022-2028)
$4999 – $8699
Emphasis on Product (Generators and Consumables); Type (High-Intensity Focused Ultrasonic (HIFU) Ablators, Magnetic Resonance-Guided Focused Ultrasonic (MRGFUS) Ablators, Ultrasonic Surgical Ablation Systems, and Shock Wave Therapy Systems); Application (Cardiology, Gynecology, Urology, and Others); End-users (Hospitals, Ambulatory Surgical Centers, and Others); Region/Country
Detailed Analysis of COVID-19 Impact on the Ultrasonic Electrosurgical Device Market
Global Ultrasonic Electrosurgical Devices Market is anticipated to grow with an elevated CAGR of around 5% over the forecast period (2022-2028). Electrical energy is extensively used in surgical methods. The resistance produced by the body when the current passes through the tissue generates both internal and external heat energy which helps in the dissection, coagulation, and cutting of tissues.
The rising geriatric population and increasing prevalence of chronic diseases fuel the growth of the electrosurgical devices market. Furthermore, the increase in the number of cosmetic surgeries significantly contributes to the market size of ultrasonic electrosurgical devices. For instance, a total of 10,129,528 cosmetic surgeries happened in 2020, among them the breast augmentation surgeries held a major share of the 16% which was followed by the liposuction and eyelid surgery accounted for 15.1% and 12.1% respectively. Additionally, the adoption of the new technology in the healthcare systems is attributed to the market growth of ultrasonic electrosurgical devices.
Olympus Corporation, Medtronic, Misonix Inc., BOWA-electronic GmbH, Söring GmbH, Advanced Instrumentations, Reach Surgical, ITALIA MEDICA SRL, SonaCare Medical, and Miconvey. Several M&As along with partnerships have been undertaken by these players to facilitate customers with new varieties of ultrasonic electrosurgical devices.
Insights Presented in the Report
“Amongst product, consumables segment holds the major share”
Based on product, the market is bifurcated into generators and consumables. The consumable segment is expected to witness significant growth during the forecast period. The rising prevalence of chronic diseases and increase in the number of surgeries has risen the demand for consumables. For instance, every year, an estimated 22.6 million patients suffer from neurological disorders or injuries that need the expertise of a neurosurgeon, of whom 13.8 million require surgery.
“Amongst Type, HIFU segment holds the major share”
Based on the type, the market is categorized into high-intensity focused ultrasonic (HIFU) ablators, magnetic resonance-guided focused ultrasonic (MRGFUS) ablators, ultrasonic surgical ablation systems, and shock wave therapy systems. The HIFU segment held a significant market in 2020 and it is anticipated to grow during the forecast period. The increasing use of the procedure in cosmetic surgeries and the launch of new products are responsible for the segmental growth of the HIFU. For instance, in November 2020, Sonalleve MR-HIFU by Profound Medical Inc. got FDA approval. The Sonalleve MR-HIFU uses magnetic resonance imaging (MRI) to help health care professionals deliver focused, high-intensity ultrasound (sound) energy to treat osteoid osteomas, a benign painful bone tumor that usually forms in the arms or legs of children and young adults.
“Amongst Application, cardiology holds the major share”
Based on the application, the market is segmented into cardiology, gynecology, urology, and others. The cardiology segment held a significant market share and is anticipated to witness significant growth during the forecast period. This is mainly due to the increasing number and the complexity of heart surgeries.
“Amongst End-users, hospitals holds the major share”
Based on end-user, the market is segmented into hospitals, ambulatory surgical centers, and others. The hospitals are predicted to have considerable market growth during the forecast period. This is due to the specialization of hospitals in multiple disease treatments and the presence of skilled professionals. Furthermore, the increasing investments of the developing nations in hospitals significantly contribute to segmental growth in the ultrasonic electrosurgical device. For instance, the Government of India had allocated US$ 2,673.9 million for the 16 new AIIMS.
“North America represents one of the largest markets of ultrasonic electrosurgical devices market”
For a better understanding of the market dynamics of the Ultrasonic Electrosurgical Devices market, a detailed analysis was conducted for different regions across the globe including North America (U.S, Canada, and the Rest of North America), Europe (Germany, France, Spain, United Kingdom, Italy, and Rest of Europe), Asia-Pacific (China, India, Australia, Japan, and Rest of APAC), Rest of World has been conducted. In 2020, North America grabbed a significant market share of the global ultrasonic electrosurgical devices market. It is expected to grow with considerable CAGR during the forecast period (2021-2027F). The major factors such as government initiatives, sophisticated healthcare infrastructure, the presence of a geriatric population, the presence of major market players, and frequent product launch attributed to the growth of the region in the electrosurgical device market. For instance, in September 2020, Medtronic plc announced the launch of the Sonicision Curved Jaw Cordless Ultrasonic Dissection System, which is a next-generation ultrasonic dissection device that delivers the combined benefits of enhanced precision to surgeons with convenience and safety in the operating room.
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- The study includes market sizing and forecasting analysis validated by authenticated key industry experts
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- The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments
- Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry
- The study comprehensively covers the market across different segments
- Deep dive regional level analysis of the industry
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|1.4.||Currency used in Report|
|2.1.||Research Process of the Ultrasonic Electrosurgical Device Market|
|2.2.||Research Methodology of the Ultrasonic Electrosurgical Device Market|
|2.5.||Main Objective of the Ultrasonic Electrosurgical Device Market Study|
|5||GLOBAL ULTRASONIC ELECTROSURGICAL DEVICE MARKET COVID-19 IMPACT|
|6||GLOBAL ULTRASONIC ELECTROSURGICAL DEVICE MARKET REVENUE, 2020-2028F|
|8.1.||High-intensity Focused Ultrasonic (HIFU) Ablators|
|8.2.||Magnetic Resonance-guided Focused Ultrasonic (MRGFUS) Ablators|
|8.3.||Ultrasonic Surgical Ablation Systems|
|8.4.||Shock Wave Therapy Systems|
|10.2.||Ambulatory Surgical Centers|
|11.1.3.||Rest of North America|
|11.2.6.||Rest of Europe|
|11.3.5.||Rest of Asia Pacific|
|11.4.||Rest of World|
|13||ULTRASONIC ELECTROSURGICAL DEVICE MARKET OPPORTUNITIES|
|14||ULTRASONIC ELECTROSURGICAL DEVICE MARKET TRENDS|
|15||LEGAL & REGULATORY FRAMEWORK|
|16.1.||Demand Side Analysis|
|16.2.||Supply Side Analysis|
|17||VALUE CHAIN ANALYSIS|
|18.1.||Porter’s Five Forces Analysis|
|19.8.||ITALIA MEDICA SRL|
Research Methodology for the Global Ultrasonic Electrosurgical Devices Market Analysis (2022-2028)
Analyzing the historical market, estimating the current market, and forecasting the future market of the global ultrasonic electrosurgical devices market were the three major steps undertaken to create and analyze the adoption of ultrasonic electrosurgical devices in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global ultrasonic electrosurgical devices market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the ultrasonic electrosurgical devices through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the ultrasonic electrosurgical devices market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments included in the report as product, type, application, and end-users. Further country-level analyses were conducted to evaluate the overall adoption of ultrasonic electrosurgical devices across the globe.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of ultrasonic electrosurgical devices. Further, we conducted factor analysis using dependent and independent variables such as the growing number of people with chronic diseases and the increasing elderly population all over the globe. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the ultrasonic electrosurgical devices sector across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the ultrasonic electrosurgical devices market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., top-down/bottom-up approach were applied to arrive at the market forecast about 2027 for different segments and subsegments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
- The industry’s market size, in terms of value (US$) and the adoption rate of ultrasonic electrosurgical devices across the major markets domestically
- All percentage shares, splits, and breakdowns of market segments and sub-segments
- Key players in the ultrasonic electrosurgical devices market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, and Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
Data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the ultrasonic electrosurgical devices market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of product, type, application, and end-users of the ultrasonic electrosurgical devices market.
The main objective of the ultrasonic electrosurgical devices market study
The current & future market trends of ultrasonic electrosurgical devices were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:
- Analyze the current and forecast market size of ultrasonic electrosurgical devices in terms of value (US$). Also, analyze the current and forecast market size of different segments and sub-segments
- Segments in the study include areas of products, type, application, and end-users
- Define and analysis of the regulatory framework for the ultrasonic electrosurgical devices industry
- Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry
- Analyze the current and forecast market size of the ultrasonic electrosurgical devices market for the major region
- Major regions studied in the report include North America, Europe, Asia-Pacific , and Rest of the world
- Company profiles of the ultrasonic electrosurgical devices market and the growth strategies adopted by the market players to sustain in the fast-growing market
- Deep dive regional level analysis of the industry