15 Apr 2019
Posted in Press Release
Surgical Energy Generators global market expected to reach $2.4bn by 2028, says GlobalData
The global Surgical Energy Generators market is expected to reach $2.4bn by 2028, growing at a Compound Annual Growth Rate (CAGR) of 2.6%, according to GlobalData, a leading data and analytics company.
The company’s latest report, ‘Surgical Energy Generators, Global Outlook, 2015-2028’ reveals that North America will be one of the fastest growing regions, at a CAGR of 4.7% between 2018 and 2028, with Asia Pacific and Middle East Africa following closely behind at 2.4% and 2.0% respectively.
Electrosurgical Radiofrequency (RF) generators remain the fastest growing segment within the market. This is due to a myriad of energy procedures, in addition to the low cost compared to other generator types. Electrosurgical RF generators are growing at a CAGR of 3.2% globally.
Atif Nawaz, Medical Devices Analyst at GlobalData comments, “The organs involved and underlying conditions, in addition to comorbidity, create specific surgical environments that call for each type of surgical energy modality.
Electrosurgical RF generators are ubiquitous within hospitals and healthcare centres within the surgical energy space; this is due to the need of surgical energy in most procedures performed. RF generators will remain as the mainstay for energy needs within the surgical environment as they are cost effective and have the capabilities to meet the needs during most surgical procedures.
Nawaz concludes, “Alternatively there is a high adoption rate for advanced energy within the surgical energy space recently. As surgical procedures requiring precision or niche techniques rise, physicians can better understand which energy device is suited for which surgical environment. This in turn will increase the number of cryoablation and microwave devices globally.”