Ultrasonic Electrosurgical Devices Market To Grow Substantially At A CAGR Of 5.0% By 2028

Ultrasonic Electrosurgical Devices Industry 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. 

Gather more insights about the market drivers, restrains and growth of the Global Ultrasonic Electrosurgical Devices Market

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.

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Ultrasonic Electrosurgical Devices Market Segmentation 

Grand View Research has segmented the global ultrasonic electrosurgical devices market on the basis of product, type, application, end use, and region:

Ultrasonic Electrosurgical Devices Product Outlook (Revenue, USD Million, 2017 - 2028)

• Generators
• Consumables

Ultrasonic Electrosurgical Devices 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

Ultrasonic Electrosurgical Devices Application Outlook (Revenue, USD Million, 2017 - 2028)

• Cardiology
• Gynecology
• General Surgery
• Urology
• Bariatric Surgery
• Others

Ultrasonic Electrosurgical Devices End-use Outlook (Revenue, USD Million, 2017 - 2028)

• Hospitals
• Ambulatory Surgical Centers
• Others

Ultrasonic Electrosurgical Devices Regional Outlook (Revenue, USD Million, 2017 - 2028)

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East Africa 

Market Share Insights

Key Companies profiled:

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 

Order a free sample PDF of the Ultrasonic Electrosurgical Devices Market Intelligence Study, published by Grand View Research. 

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