Electrosurgery Market Forecast (2024-2031)
The Electrosurgery Market is expected to register a CAGR of 5.3% from 2023 to 2031, with a market size expanding from US$ XX million in 2023 to US$ XX Million by 2031.
The report is segmented by Product (Electrosurgical Instruments, Electrosurgical Generators, Electrosurgical Accessories, Smoke Evacuation Systems). The report further presents analysis based on the Application (General Surgery, Obstetrics/Gynecology Surgery, Orthopedic Surgery, Cardiovascular Surgery, Oncological Surgery, Cosmetic Surgery, Urological Surgery, Neurosurgery, Others). The report is segmented by End User (Hospitals, Clinics & Ablation Centers, Ambulatory Surgical Centers, Research Laboratories & Academic Institutes). The global analysis is further broken-down at regional level and major countries. The Report Offers the Value in USD for the above analysis and segments.
Purpose of the ReportThe report Electrosurgery Market by The Insight Partners aims to describe the present landscape and future growth, top driving factors, challenges, and opportunities. This will provide insights to various business stakeholders, such as:
- Technology Providers/Manufacturers: To understand the evolving market dynamics and know the potential growth opportunities, enabling them to make informed strategic decisions.
- Investors: To conduct a comprehensive trend analysis regarding the market growth rate, market financial projections, and opportunities that exist across the value chain.
- Regulatory bodies: To regulate policies and police activities in the market with the aim of minimizing abuse, preserving investor trust and confidence, and upholding the integrity and stability of the market.
Electrosurgery Market Segmentation
Product- Electrosurgical Instruments
- Electrosurgical Generators
- Electrosurgical Accessories
- Smoke Evacuation Systems
- General Surgery
- Obstetrics/Gynecology Surgery
- Orthopedic Surgery
- Cardiovascular Surgery
- Oncological Surgery
- Cosmetic Surgery
- Urological Surgery
- Neurosurgery
- Others
- Hospitals
- Clinics & Ablation Centers
- Ambulatory Surgical Centers
- Research Laboratories & Academic Institutes
Strategic Insights
Electrosurgery Market Growth Drivers- Electrosurgical Devices and Their Technological Innovations: The steady upturn in the growth rate of the market has been fueled in large part by the technological advancement seen in the design of electrosurgical devices. Nowadays electrosurgical units come with state-of-art functionalities like real-time monitoring of the tissue, precision cutting among others, and even advanced safety features. Moreover, the ability to merge electrical currents of higher frequencies with modern computer systems enhances surgeries with more precision and efficacy, thereby minimizing chances of complications. In addition, the demand for various electrosurgical instruments is increasing in all fields as there is an increasing number of technologies such as radiofrequency (RF) devices that provide energy delivered at certain frequencies, and there are also less invasive systems.
- Rising Prevalence of Chronic Diseases: The increasing penetration of chronic diseases like cancer, cardiovascular diseases, and gastroenterological diseases is one of the factors driving the growth of the electrosurgery market. Electrosurgery is often incorporated in treating tumors, tissue coagulation, and surgery on soft tissues, as seen in the cases of oncology and dermatology. As the target population of chronic diseases requiring surgical intervention increases, the market for effective and adequate electrosurgical technologies is also expected to grow.
- Preference for Minimally Invasive Surgeries: There is an increasing preference for surgeries which are called I.M.S. (invasive minimal surgical procedures) due to many factors such as less trauma, quicker healing, and shorter stays in the hospital. The application of electrosurgical instruments enables electrosurgical techniques, namely laparoscopic surgery to achieve the required precision with energy control. This tendency towards MIS is anticipated to be seen across numerous surgical fields including orthopedics, general surgery, and gynecology.
- Energy-Based Devices: With RF, ultrasound, and laser-based technologies, energy-based devices are being increasingly used in electrosurgery. These have the potential to dissect tissue, coagulate tissues, and cut with minimum thermal damage to surrounding tissues. Today, people are looking for more accurate, less invasive methods of surgery than before, especially when it comes to dermatology, plastic surgery, and neurosurgery. Energy-based devices enhance patient care and as a result there is an increase in their adoption in the healthcare sector.
- Application with Robotic Surgery Systems: Women are proving the necessity of more electrosurgical devices as they incorporate more robotic surgery systems. Since it compartmentalizes surgeries with greater care, precision, and control avoiding unnecessary body tissue and bodily structure, surgeries that are robotic-assisted are believed to have better outcomes than open surgeries. The use of electrosurgical devices in combination with robotic arms serves the purpose of enhancing the efficiency of minimal-invasive surgeries. This is usually seen in more advanced procedures such as radical prostatectomy, gynecological surgeries, and cardiac surgery where robotic assistance is used along with electrosurgery to facilitate the careful handling of soft tissue.
- Single-use Electrosurgical Devices: The disposable electrosurgical instruments market is an upsurge trend in current times as the instruments are largely associated with infection control and also convenience and affordability. The American focus on healthcare leading to a decline in hospital-acquired infections (HAIs) has made one-time-use devices more acceptable than their re-sterilizable counterparts. This is part of the larger shift toward single-use devices in the healthcare industry. The manufacturers have started manufacturing disposable electrosurgical tips, electrodes, and other components that could offer performance equivalent to that of reusability, at the same time minimizing the chances of cross-contamination.
- Electrosurgery in Aesthetic and Cosmetic Surgery: The demand for aesthetic and cosmetic surgery is on an upward trend in most parts of the world, driven by people's increasing focus on appearance and the availability of much less invasive surgical options. The important aspects of cosmetic procedures like skin resurfacing, liposuction, and tumor excision with respect to precision coupled with little to no scarring could not be achieved without the use of electrosurgery. Due to the fact that more patients are opting for procedures that are less invasive and have a quick recovery, the aesthetic and cosmetic surgery electrosurgery market will be on the rise whereby manufacturers will have considerable opportunities for expansion in the market for devices used in electrosurgery.
- The Increasing Scope for Advancing New Products and Tailored Solutions: It is no longer enough for electrosurgical product manufacturers to produce standard or even enhanced existing products. There is a great need, for instance, for electrosurgical solutions that takes the form of tips, electrodes, and accessories tailored to certain procedures or patient groups that current market does not adequately provide. Bearing in mind the competition within the market, there are numerous prospects for companies to seek and develop a market for, for example, electrosurgical units that have no wires, incorporate advanced control systems, and are designed in more comfortable shapes.
- Partnerships and Collaborations for Market Expansion: This kind of strategy involves lateral integration with electric surgical devices manufacturing companies in the formation of strategic alliances with robotic surgical companies and healthcare facilities. In this way, electrosurgical businesses can diversify their product range and reach a broader health care market. In turn, these collaborations promote psychiatric surgery and integrated systems in robotised surgery and electrosurgical equipment, thus bringing in untapped and new markets.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Electrosurgery Market, providing a holistic landscape.
- Expert Analysis: The report is compiled based on the in-depth understanding of industry experts and analysts.
- Up-to-date Information: The report assures business relevance due to its coverage of recent information and data trends.
- Customization Options: This report can be customized to cater to specific client requirements and suit the business strategies aptly.
The research report on the Electrosurgery Market can, therefore, help spearhead the trail of decoding and understanding the industry scenario and growth prospects. Although there can be a few valid concerns, the overall benefits of this report tend to outweigh the disadvantages.
REGIONAL FRAMEWORK
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Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
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to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
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to country scope.
Frequently Asked Questions
Electrosurgical Instruments segment, by product, dominated the market in 2023.
Players operating in the market are Medtronic, Olympus Corporation, Ethicon, Inc. (Johnson & Johnson), Conmed Corporation, B. Braun Melsungen, Apyx Medical Corporation, Boston Scientific, Smith & Nephew PLC, Erbe Elektromedizin GmbH, Applied Medical Resources Corporation
North America region dominated the Electrosurgery market in 2023.
Electrosurgery in Aesthetic and Cosmetic Surgery of the Coming Generation act as a opportunity for growth of the market in forecast period.
The Electrosurgery Market is estimated to witness a CAGR of 5.3% from 202#to 2031
The major factors driving the Electrosurgery market are:
1. Electrosurgical Devices and Their Technological Innovations
2. Preference for Minimally Invasive Surgeries
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Electrosurgery Market - By Product
1.3.2 Electrosurgery Market - By Application
1.3.3 Electrosurgery Market - By End User
1.3.4 Electrosurgery Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. ELECTROSURGERY MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PEST ANALYSIS
4.2.1 North America - Pest Analysis
4.2.2 Europe - Pest Analysis
4.2.3 Asia-Pacific - Pest Analysis
4.2.4 Middle East and Africa - Pest Analysis
4.2.5 South and Central America - Pest Analysis
4.3. EXPERT OPINIONS
5. ELECTROSURGERY MARKET - KEY MARKET DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS AND RESTRAINTS
6. ELECTROSURGERY MARKET - GLOBAL MARKET ANALYSIS
6.1. ELECTROSURGERY - GLOBAL MARKET OVERVIEW
6.2. ELECTROSURGERY - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. ELECTROSURGERY MARKET - REVENUE AND FORECASTS TO 2028 - PRODUCT
7.1. OVERVIEW
7.2. PRODUCT MARKET FORECASTS AND ANALYSIS
7.3. ELECTROSURGICAL INSTRUMENTS
7.3.1. Overview
7.3.2. Electrosurgical Instruments Market Forecast and Analysis
7.3.3. Bipolar Electrosurgical Instruments Market
7.3.3.1. Overview
7.3.3.2. Bipolar Electrosurgical Instruments Market Forecast and Analysis
7.3.4. Monopolar Electrosurgical Instruments Market
7.3.4.1. Overview
7.3.4.2. Monopolar Electrosurgical Instruments Market Forecast and Analysis
7.4. ELECTROSURGICAL GENERATORS
7.4.1. Overview
7.4.2. Electrosurgical Generators Market Forecast and Analysis
7.5. ELECTROSURGICAL ACCESSORIES
7.5.1. Overview
7.5.2. Electrosurgical Accessories Market Forecast and Analysis
7.6. SMOKE EVACUATION SYSTEMS
7.6.1. Overview
7.6.2. Smoke Evacuation Systems Market Forecast and Analysis
7.6.3. Patient Return Electrodes Market
7.6.3.1. Overview
7.6.3.2. Patient Return Electrodes Market Forecast and Analysis
7.6.4. Cords Cables and Adapters Market
7.6.4.1. Overview
7.6.4.2. Cords Cables and Adapters Market Forecast and Analysis
7.6.5. Other Accessories Market
7.6.5.1. Overview
7.6.5.2. Other Accessories Market Forecast and Analysis
8. ELECTROSURGERY MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
8.1. OVERVIEW
8.2. APPLICATION MARKET FORECASTS AND ANALYSIS
8.3. GENERAL SURGERY
8.3.1. Overview
8.3.2. General Surgery Market Forecast and Analysis
8.4. OBSTETRICS/GYNECOLOGY SURGERY
8.4.1. Overview
8.4.2. Obstetrics/Gynecology Surgery Market Forecast and Analysis
8.5. ORTHOPEDIC SURGERY
8.5.1. Overview
8.5.2. Orthopedic Surgery Market Forecast and Analysis
8.6. CARDIOVASCULAR SURGERY
8.6.1. Overview
8.6.2. Cardiovascular Surgery Market Forecast and Analysis
8.7. ONCOLOGICAL SURGERY
8.7.1. Overview
8.7.2. Oncological Surgery Market Forecast and Analysis
8.8. COSMETIC SURGERY
8.8.1. Overview
8.8.2. Cosmetic Surgery Market Forecast and Analysis
8.9. UROLOGICAL SURGERY
8.9.1. Overview
8.9.2. Urological Surgery Market Forecast and Analysis
8.10. NEUROSURGERY
8.10.1. Overview
8.10.2. Neurosurgery Market Forecast and Analysis
8.11. OTHERS
8.11.1. Overview
8.11.2. Others Market Forecast and Analysis
9. ELECTROSURGERY MARKET - REVENUE AND FORECASTS TO 2028 - END USER
9.1. OVERVIEW
9.2. END USER MARKET FORECASTS AND ANALYSIS
9.3. HOSPITALS
9.3.1. Overview
9.3.2. Hospitals Market Forecast and Analysis
9.4. CLINICS AND ABLATION CENTERS
9.4.1. Overview
9.4.2. Clinics and Ablation Centers Market Forecast and Analysis
9.5. AMBULATORY SURGICAL CENTERS
9.5.1. Overview
9.5.2. Ambulatory Surgical Centers Market Forecast and Analysis
9.6. RESEARCH LABORATORIES AND ACADEMIC INSTITUTES
9.6.1. Overview
9.6.2. Research Laboratories and Academic Institutes Market Forecast and Analysis
10. ELECTROSURGERY MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Electrosurgery Market Overview
10.1.2 North America Electrosurgery Market Forecasts and Analysis
10.1.3 North America Electrosurgery Market Forecasts and Analysis - By Product
10.1.4 North America Electrosurgery Market Forecasts and Analysis - By Application
10.1.5 North America Electrosurgery Market Forecasts and Analysis - By End User
10.1.6 North America Electrosurgery Market Forecasts and Analysis - By Countries
10.1.6.1 United States Electrosurgery Market
10.1.6.1.1 United States Electrosurgery Market by Product
10.1.6.1.2 United States Electrosurgery Market by Application
10.1.6.1.3 United States Electrosurgery Market by End User
10.1.6.2 Canada Electrosurgery Market
10.1.6.2.1 Canada Electrosurgery Market by Product
10.1.6.2.2 Canada Electrosurgery Market by Application
10.1.6.2.3 Canada Electrosurgery Market by End User
10.1.6.3 Mexico Electrosurgery Market
10.1.6.3.1 Mexico Electrosurgery Market by Product
10.1.6.3.2 Mexico Electrosurgery Market by Application
10.1.6.3.3 Mexico Electrosurgery Market by End User
10.2. EUROPE
10.2.1 Europe Electrosurgery Market Overview
10.2.2 Europe Electrosurgery Market Forecasts and Analysis
10.2.3 Europe Electrosurgery Market Forecasts and Analysis - By Product
10.2.4 Europe Electrosurgery Market Forecasts and Analysis - By Application
10.2.5 Europe Electrosurgery Market Forecasts and Analysis - By End User
10.2.6 Europe Electrosurgery Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Electrosurgery Market
10.2.6.1.1 Germany Electrosurgery Market by Product
10.2.6.1.2 Germany Electrosurgery Market by Application
10.2.6.1.3 Germany Electrosurgery Market by End User
10.2.6.2 France Electrosurgery Market
10.2.6.2.1 France Electrosurgery Market by Product
10.2.6.2.2 France Electrosurgery Market by Application
10.2.6.2.3 France Electrosurgery Market by End User
10.2.6.3 Italy Electrosurgery Market
10.2.6.3.1 Italy Electrosurgery Market by Product
10.2.6.3.2 Italy Electrosurgery Market by Application
10.2.6.3.3 Italy Electrosurgery Market by End User
10.2.6.4 Spain Electrosurgery Market
10.2.6.4.1 Spain Electrosurgery Market by Product
10.2.6.4.2 Spain Electrosurgery Market by Application
10.2.6.4.3 Spain Electrosurgery Market by End User
10.2.6.5 United Kingdom Electrosurgery Market
10.2.6.5.1 United Kingdom Electrosurgery Market by Product
10.2.6.5.2 United Kingdom Electrosurgery Market by Application
10.2.6.5.3 United Kingdom Electrosurgery Market by End User
10.2.6.6 Rest of Europe Electrosurgery Market
10.2.6.6.1 Rest of Europe Electrosurgery Market by Product
10.2.6.6.2 Rest of Europe Electrosurgery Market by Application
10.2.6.6.3 Rest of Europe Electrosurgery Market by End User
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Electrosurgery Market Overview
10.3.2 Asia-Pacific Electrosurgery Market Forecasts and Analysis
10.3.3 Asia-Pacific Electrosurgery Market Forecasts and Analysis - By Product
10.3.4 Asia-Pacific Electrosurgery Market Forecasts and Analysis - By Application
10.3.5 Asia-Pacific Electrosurgery Market Forecasts and Analysis - By End User
10.3.6 Asia-Pacific Electrosurgery Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Electrosurgery Market
10.3.6.1.1 Australia Electrosurgery Market by Product
10.3.6.1.2 Australia Electrosurgery Market by Application
10.3.6.1.3 Australia Electrosurgery Market by End User
10.3.6.2 China Electrosurgery Market
10.3.6.2.1 China Electrosurgery Market by Product
10.3.6.2.2 China Electrosurgery Market by Application
10.3.6.2.3 China Electrosurgery Market by End User
10.3.6.3 India Electrosurgery Market
10.3.6.3.1 India Electrosurgery Market by Product
10.3.6.3.2 India Electrosurgery Market by Application
10.3.6.3.3 India Electrosurgery Market by End User
10.3.6.4 Japan Electrosurgery Market
10.3.6.4.1 Japan Electrosurgery Market by Product
10.3.6.4.2 Japan Electrosurgery Market by Application
10.3.6.4.3 Japan Electrosurgery Market by End User
10.3.6.5 South Korea Electrosurgery Market
10.3.6.5.1 South Korea Electrosurgery Market by Product
10.3.6.5.2 South Korea Electrosurgery Market by Application
10.3.6.5.3 South Korea Electrosurgery Market by End User
10.3.6.6 Rest of Asia-Pacific Electrosurgery Market
10.3.6.6.1 Rest of Asia-Pacific Electrosurgery Market by Product
10.3.6.6.2 Rest of Asia-Pacific Electrosurgery Market by Application
10.3.6.6.3 Rest of Asia-Pacific Electrosurgery Market by End User
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Electrosurgery Market Overview
10.4.2 Middle East and Africa Electrosurgery Market Forecasts and Analysis
10.4.3 Middle East and Africa Electrosurgery Market Forecasts and Analysis - By Product
10.4.4 Middle East and Africa Electrosurgery Market Forecasts and Analysis - By Application
10.4.5 Middle East and Africa Electrosurgery Market Forecasts and Analysis - By End User
10.4.6 Middle East and Africa Electrosurgery Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Electrosurgery Market
10.4.6.1.1 South Africa Electrosurgery Market by Product
10.4.6.1.2 South Africa Electrosurgery Market by Application
10.4.6.1.3 South Africa Electrosurgery Market by End User
10.4.6.2 Saudi Arabia Electrosurgery Market
10.4.6.2.1 Saudi Arabia Electrosurgery Market by Product
10.4.6.2.2 Saudi Arabia Electrosurgery Market by Application
10.4.6.2.3 Saudi Arabia Electrosurgery Market by End User
10.4.6.3 U.A.E Electrosurgery Market
10.4.6.3.1 U.A.E Electrosurgery Market by Product
10.4.6.3.2 U.A.E Electrosurgery Market by Application
10.4.6.3.3 U.A.E Electrosurgery Market by End User
10.4.6.4 Rest of Middle East and Africa Electrosurgery Market
10.4.6.4.1 Rest of Middle East and Africa Electrosurgery Market by Product
10.4.6.4.2 Rest of Middle East and Africa Electrosurgery Market by Application
10.4.6.4.3 Rest of Middle East and Africa Electrosurgery Market by End User
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Electrosurgery Market Overview
10.5.2 South and Central America Electrosurgery Market Forecasts and Analysis
10.5.3 South and Central America Electrosurgery Market Forecasts and Analysis - By Product
10.5.4 South and Central America Electrosurgery Market Forecasts and Analysis - By Application
10.5.5 South and Central America Electrosurgery Market Forecasts and Analysis - By End User
10.5.6 South and Central America Electrosurgery Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Electrosurgery Market
10.5.6.1.1 Brazil Electrosurgery Market by Product
10.5.6.1.2 Brazil Electrosurgery Market by Application
10.5.6.1.3 Brazil Electrosurgery Market by End User
10.5.6.2 Argentina Electrosurgery Market
10.5.6.2.1 Argentina Electrosurgery Market by Product
10.5.6.2.2 Argentina Electrosurgery Market by Application
10.5.6.2.3 Argentina Electrosurgery Market by End User
10.5.6.3 Rest of South and Central America Electrosurgery Market
10.5.6.3.1 Rest of South and Central America Electrosurgery Market by Product
10.5.6.3.2 Rest of South and Central America Electrosurgery Market by Application
10.5.6.3.3 Rest of South and Central America Electrosurgery Market by End User
11. IMPACT OF COVID-19 PANDEMIC ON GLOBAL ELECTROSURGERY MARKET
11.1 North America
11.2 Europe
11.3 Asia-Pacific
11.4 Middle East and Africa
11.5 South and Central America
12. INDUSTRY LANDSCAPE
12.1. MERGERS AND ACQUISITIONS
12.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
12.3. NEW PRODUCT LAUNCHES
12.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
13. ELECTROSURGERY MARKET, KEY COMPANY PROFILES
13.1. MEDTRONIC
13.1.1. Key Facts
13.1.2. Business Description
13.1.3. Products and Services
13.1.4. Financial Overview
13.1.5. SWOT Analysis
13.1.6. Key Developments
13.2. OLYMPUS CORPORATION
13.2.1. Key Facts
13.2.2. Business Description
13.2.3. Products and Services
13.2.4. Financial Overview
13.2.5. SWOT Analysis
13.2.6. Key Developments
13.3. ETHICON, INC. (JOHNSON AND JOHNSON)
13.3.1. Key Facts
13.3.2. Business Description
13.3.3. Products and Services
13.3.4. Financial Overview
13.3.5. SWOT Analysis
13.3.6. Key Developments
13.4. CONMED CORPORATION
13.4.1. Key Facts
13.4.2. Business Description
13.4.3. Products and Services
13.4.4. Financial Overview
13.4.5. SWOT Analysis
13.4.6. Key Developments
13.5. B. BRAUN MELSUNGEN
13.5.1. Key Facts
13.5.2. Business Description
13.5.3. Products and Services
13.5.4. Financial Overview
13.5.5. SWOT Analysis
13.5.6. Key Developments
13.6. APYX MEDICAL CORPORATION
13.6.1. Key Facts
13.6.2. Business Description
13.6.3. Products and Services
13.6.4. Financial Overview
13.6.5. SWOT Analysis
13.6.6. Key Developments
13.7. BOSTON SCIENTIFIC CORPORATION
13.7.1. Key Facts
13.7.2. Business Description
13.7.3. Products and Services
13.7.4. Financial Overview
13.7.5. SWOT Analysis
13.7.6. Key Developments
13.8. SMITH AND NEPHEW PLC
13.8.1. Key Facts
13.8.2. Business Description
13.8.3. Products and Services
13.8.4. Financial Overview
13.8.5. SWOT Analysis
13.8.6. Key Developments
13.9. ERBE ELEKTROMEDIZIN GMBH
13.9.1. Key Facts
13.9.2. Business Description
13.9.3. Products and Services
13.9.4. Financial Overview
13.9.5. SWOT Analysis
13.9.6. Key Developments
13.10. APPLIED MEDICAL RESOURCES CORPORATION
13.10.1. Key Facts
13.10.2. Business Description
13.10.3. Products and Services
13.10.4. Financial Overview
13.10.5. SWOT Analysis
13.10.6. Key Developments
14. APPENDIX
14.1. ABOUT THE INSIGHT PARTNERS
14.2. GLOSSARY OF TERMS
1. Medtronic
2. Olympus Corporation
3. Ethicon, Inc. (Johnson & Johnson)
4. Conmed Corporation
5. B. Braun Melsungen
6. Apyx Medical Corporation
7. Boston Scientific
8. Smith & Nephew PLC
9. Erbe Elektromedizin GmbH
10. Applied Medical Resources Corporation
11. KLS Martin
12. Bowa-Electronic GmbH & Co. Kg
13. Coopersurgical, Inc.
14. Kirwan Surgical Products LLC
15. Zimmer Biomet Holdings, Inc.
16. Utah Medical Products, Inc.
17. Surgical Holdings
18. Encision Inc.
19. Meyer-Haake GmbH
20. I. C. Medical, Inc.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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