REPORT OVERVIEW
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The global electrosurgical cutting forcep market size is expected to be USD 460.2 million by 2022 and the market is expected to touch USD 613.2 million by 2028, exhibiting a Compound annual growth rate (CAGR) of 4.9% during the forecasted period. The global COVID-19 pandemic was unprecedented & staggering, with electrosurgical cutting forcep experiencing lower-than-anticipated demand across all regions compared to pre-pandemic times.
Electrosurgical cutting forceps are available in the market in both mechanical and bipolar versions for monopolar electro surgery. An electrosurgical forcep is used to coagulate, dissect, grip, and manipulate tissues. Various forceps styles in the market include cutting, dilating, grasping, punch, scoopless, and serrated. Additional forceps classifications include hinge less, single-action (one element), double-action (two components), and a spoon. The variety of features in these forceps devices makes the product desirable in the healthcare industry.
Electrosurgical cutting forceps are devices used for excision during surgery. The electrosurgical cutting forcep industry is less concentrated due to low global technical and funding barriers. Technological advancements in electro surgery devices, a rapidly aging population, increasing demand for minimally invasive surgeries, a growing number of medical and plastic surgeries, and an increasing number of surgery centers are expected to drive market growth during the forecasted period. The post-pandemic boom will benefit the industry players and manufacturers massively.
COVID-19 Impact: Healthcare Industry Collapse Impeded Market Growth
The collapse of the healthcare industry due to the pandemic strain severely impeded the product's market growth as researchers diverted their attention to the virus and its cure. The supply chain disruptions caused due to decreased demand in the market further hampered market demand, leading to significant losses to industrial players and investors in the region. Therefore, the complete collapse of the healthcare mechanism in hospitals negatively impacted the industry. However, the industry is set to boom rapidly in the post-pandemic period.
LATEST TRENDS
"Technical Improvements in Devices to Fuel Market Growth and Share"
With the launch of technological innovations and technical innovations by leading industrial players in the market and critical mergers and acquisitions in developed regions, the industry's market share will significantly increase during the forecast period. The application of electrosurgical cutting forcep devices in healthcare sectors such as dentistry, dermatology, plastic surgery, and other procedures is also a significant factor driving market growth worldwide. The devices are vital for these procedures and demand professional healthcare workers to handle them.
SEGMENTATION
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- By Type
The market is subcategorized based on types into disposable cutting forcep and reusable cutting forcep.
- By Application
The market is subcategorized based on applications in endoscopic surgery, diffuse bleeding surgery, and others.
DRIVING FACTORS
"Applications in Various Healthcare Sectors to Drive Market Growth"
Hand pieces with electrodes and generators constitute the entire electrosurgical unit. Electrosurgical cutting machines are utilized in surgical procedures such as cardiac, orthopedic, neurological, general surgical operations, dentistry, dermatological, gynecological, plastic surgery, ENT, veterinary, and urological procedures. Hence, several electrosurgical cutting device applications will drive the growth of the electrosurgical cutting forcep market worldwide. These developments will benefit market players and investors massively with significant revenue generation.
"Growing Old-Age Population to Propel Market Demand for Product"
The growing demand of the old-age population in developed regions such as North America will drive the industry's electrosurgical cutting forcep market growth and share of the product. Along with this, the rising prevalence of noncancerous growth on the skin will drive market growth as the treatment procedure for the disease requires electrosurgical cutting devices, leading to increased product demand. These factors will benefit the leading industrial players and manufacturers, driving the revenues and market share of the product.
RESTRAINING FACTORS
"Lack of Medical Professionals and Associated Risks to Hamper Market Growth"
The lack of medical professionals in the healthcare industry will hamper the product's market growth and share. The risks associated with surgeries performed with electrosurgical cutting devices will also restrain the market growth. These surgeries have complex procedures, and the lack of trained medical professionals will prevent hospitals and clinics from purchasing the product. Thus, these factors will restrain the device's market share, leading to losses for investors and manufacturers worldwide.
REGIONAL INSIGHTS
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"Europe to Lead Market Share Owing to Rising Product Demand "
The rising demand for electrosurgical devices in developed regions such as Europe will drive the electrosurgical cutting forcep market share. The post-pandemic boom in the birth of babies will also cause the market demand for the product in the region. Leading industrial manufacturers, investors, and small venture companies are bringing innovations to the market, thus showing the market share of the product in the healthcare industry.
KEY INDUSTRIAL PLAYERS
"Market Players to Foster Products Demand"
The report analyzes various market players in the industry, and the information is published after research, analysis of trends, key industry developments, initiatives, and technological developments and innovations. The report also includes research on companies, technical and environmental outcomes, and newly emerging industries' impact and risks. The study considers all the points after a comprehensive analysis, thus generating future possibilities for the market. Therefore, the factors mentioned in the report are subject to change as the dynamics and situation of the market change.
List of Market Players Profiled
- B. Braun (Germany)
- Erbe (Germany)
- Olympus (Japan)
- Karl Storz (Germany)
- Ethicon (U.S.)
- Medtronic (Ireland)
- Hangzhou Kangji Medical (China)
- Sutter (U.S.)
- KLS Martin (U.S.)
- Lamidey Noury (France)
- BOWA (Germany)
- LaproSurge (U.K.)
- Rudolf Medical (Germany)
- Surgical Innovations (U.K.)
- Timesco (U.K.)
- Sklar Surgical Instruments (U.S.)
- Ackermann Instrumente GmbH (Germany)
- Jakobi Dental Instruments (Germany)
INDUSTRY DEVELOPMENT
- June 2021: A new advanced bipolar energy device, ENSEAL X1 Curved Jaw Tissue Sealer, was launched by Ethicon, a Johnson & Johnson Medical Devices Company in the healthcare industry. This device is an advanced bipolar energy machine that increases procedural efficiency and provides stronger sealings with electrosurgical cutting forcep devices. This development will immensely benefit Johnson & Johnson as the demand for these devices increases post the pandemic.
REPORT COVERAGE
The report examines elements that affect the demand & supply and estimates dynamic forces for the forecasted period. After evaluating the market factors, the report provides an extensive, comprehensive SWOT analysis. The information estimates the factors mentioned, taken into consideration after thorough research. The report also includes information on segmentation, market trends and the latest worldwide developments, key industry mergers and acquisitions, and an analysis of the risks of the dental endodontics industry. The report lists the leading industrial players worldwide and the regions that will experience growth during the forecast period.
| REPORT COVERAGE | DETAILS |
|---|---|
| Market Size Value In | US$ 460.2 Million in 2022 |
| Market Size Value By | US$ 613.2 Million by 2028 |
| Growth Rate | CAGR of 4.9% from 2022 to 2028 |
| Forecast Period | 2022-2028 |
| Base Year | 2021 |
| Historical Data Available | Yes |
| Segments Covered | Types & Application |
| Regional Scope | Global |
Frequently Asked Questions
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1. What value is the electrosurgical cutting forcep market expected to touch by 2028?
- The global electrosurgical cutting forcep market is expected to touch USD 613.2 million by 2028.
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2. What is the CAGR that the electrosurgical cutting forcep market is expected to exhibit by 2028?
- The market is expected to exhibit a CAGR of 4.9% by 2028.
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3. What are the driving factors of the electrosurgical devices market?
- Technological innovations in the market, applications in various sectors, and the growing elderly population in developed regions are the market's driving factors.
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4. Which are the leading companies operating in the electrosurgical forceps market?
- Lamidey Noury, BOWA, LaproSurge, Rudolf Medical, Surgical Innovations, Timesco, Sklar Surgical Instruments, B. Braun, Erbe, Olympus, Karl Storz, Ethicon, Medtronic, Hangzhou Kangji Medical, Sutter, KLS Martin, Ackermann Instrumente GmbH, and Jakobi Dental Instruments are the leading players operating in the market.
