Key Drivers Shaping the Surgical Generators Market from 2023 to 2033

 

As the prevalence of chronic diseases continues to rise and the demand for minimally invasive surgery grows, the global surgical generators market is poised for significant growth. According to recent projections, there will be a compound annual growth rate (CAGR) of 4% in the demand for surgical generators over the forecast period.

The current valuation of the surgical generators market stands at an impressive US$ 483.8 Million in 2023, with expectations to reach a substantial high of US$ 713.8 Million by 2033.

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Several key factors are driving this surge in demand for surgical generators. Firstly, the aging global population contributes to an increased prevalence of chronic illnesses, necessitating advanced surgical equipment. According to the World Health Organization, cancer remains a leading cause of mortality worldwide, highlighting the crucial need for cutting-edge medical technology.

Moreover, technological advancements in the surgical generator industry have been pivotal in meeting evolving healthcare demands. The sector has witnessed rapid expansion, particularly in emerging economies, where access to advanced medical equipment is vital.

"As the human population expands, so do surgical needs," says Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.). "We're witnessing greater awareness and demand for minimally invasive procedures, which underscores the importance of innovative surgical technologies like surgical generators."

The Public Health Agency of Canada reports that approximately 3.9 Million Canadians over the age of 20 were expected to have osteoarthritis in 2020, further emphasizing the critical role of advanced surgical equipment in addressing the healthcare challenges of today.

With the global surgical generators market projected to experience a robust CAGR of 4%, stakeholders in the healthcare industry are urged to stay abreast of these developments to meet the evolving needs of patients worldwide.

Key Takeaways:

  • During the forecast period, the U.S. is expected to account for a significant share of the global surgical generators market. This is attributed to the widespread use of ultrasonic electrosurgical instruments, the fast-growing senior population, and a rise in the incidence of chronic conditions are all contributing factors.
  • The surgical generators market in Asia Pacific is predicted to hold a major share, particularly in China, during the projected period. This is owing to Chinese key firms creating a whole-process quality control system spanning procurement, production, sales, and after-sales to insure product quality, and have passed the ISO 9001&ISO13485 quality systems.
  • Owing to the use of these generators in surgical operations for cancer therapy becoming more common, the "argon plasma coagulation generators" product type is expected to hold the greatest revenue, through the forecast period.
  • As investments in the development and expansion of healthcare infrastructure are increasing, the "hospitals” end user type, accounts for a significant share and is the most lucrative area for key players.

Competitive Landscape:

To boost the brand and sales, industry participants participate in a slew of scheduled product releases and worldwide growth. They are also increasing their footprint across multiple geographies and entering new markets, particularly in emerging nations, in order to broaden their consumer base and enhance their position. Market participants are also introducing new inventive goods into the market as a result of the growing incidences of neurological and chronic ailments worldwide. These factors are anticipated to expand the global surgical generator market size. The following companies are key leaders in the global market for surgical generators:

  • Medtronic
  • Ethicon
  • Braun Melsungen
  • Olympus Corporation
  • CONMED Corporation
  • Bovie Medical Corporation
  • Boston Scientific Corporation
  • ERBE Elektromedizin GmbH
  • Bowa
  • Soring
  • CooperSurgical
  • KLS Martin

Recent Developments:

  • In September 2021, The POWERSEAL 5mm Curved Jaw Tissue Sealer and Divider from Olympus Corporation meet the highest clinical performance criteria for advanced bipolar surgical energy devices by offering constant sealing dependability in an ergonomic, versatile design that enhances procedural efficiency.
  • In 2019, PENTAX Medical unveiled new electrosurgical and argon plasma coagulation (APC) technologies that include a variety of safety measures and optimizing options.

Key Segments Profiled in the Surgical Generators Market Survey:

By Product:

  • Electrosurgical RF Generators
  • Electrocautery Generators
  • Ultrasonic Generators
  • Argon Plasma Coagulation Generators

By End Users:

  • Hospitals
  • Ambulatory Surgery Center
  • Specialty Clinics
  • Trauma Center

By Region:

  • North America
  • Latin America
  • Asia Pacific
  • Middle East and Africa (MEA)
  • Europe

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