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The European electrosurgical devices market size is estimated to grow at a CAGR of 7.2% during the forecast period. The growth of the market can be attributed to the surge in rate of chronic disorders, aging population, and volume of surgical procedures. Furthermore, persistent R&D in this field for the technological advancement in the electrosurgery devices and rise in volume of minimally invasive surgeries and aesthetic & cosmetic surgical procedures are anticipated to create new opportunities during the forecast period. However, pitfalls such as stringent government regulations limit the European electrosurgical devices market.
Increase in geriatric population in Europe has resulted in the rise in demand for surgeries and minimally invasive surgeries. Moreover, the plastic & reconstructive surgeries, which are generally performed for aesthetic/cosmetic purposes, have also gained popularity. Many key players in the surgical equipment market, therefore, shift their focus on emerging economies to expand their businesses.
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Stringent rules of EU reforms for electrosurgical devices are estimated to restrain the market growth during the analysis period.
Electrosurgical instruments & accessories is the top potential target market for investment for the key players. Their demand is expected to increase due to rise in the adoption of electrosurgical devices in all types of surgical procedures performed across Europe and the requirement of innovative and customized electrosurgical instruments & accessories, which correspond to the needs of surgeons also boost the growth of this market.
By country, Germany has accounted for the largest share of the electrosurgical devices market in Europe in 2015. Investment in healthcare sector mainly drives the growth in the market. The European Union health sector is largely contributed by public and private funding representing nearly 10% of GDP. Improvements in healthcare infrastructure largely impact the market growth.
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The key players profiled Are:
Braun Melsungen AG (Germany), Bovie Medical Corporation (U.S.), Megadyne Medical Products Inc. (U.S.), CONMED Corporation (U.S.), Medtronic plc. (Ireland), Johnson & Johnson (U.S.), ERBE Elektromedizin GmbH (Germany), KLS Martin Group (Germany), Olympus Corporation (Japan), and Utah Medical Products, Inc. (U.S.).
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