Ultrasonic Electrosurgical Devices Market Analysis
The Ultrasonic Electrosurgical Devices Market is expected to register a CAGR of 5.1% during the forecast period.
During the COVID-19 pandemic, the production and sales of ultrasonic electrosurgical devices were affected. Additionally, the delay of elective procedures due to COVID-19-related restrictions implemented by the government in many countries has negatively affected the ultrasonic electrosurgical devices market. For instance, as per the Medtronic 2021 annual report, the sales of surgical innovations which include ultrasonic electrosurgical devices decreased during the pandemic period with a revenue of USD 5,513 million compared with the pre-pandemic revenue of USD 5,753 million. This shows the reduced sales of ultrasonic electrosurgical devices during the pandemic which had an adverse impact on the market. However, as per the 2022 Medtronic annual report, the revenue of surgical innovations during the post-pandemic period 2022 was increased to USD 6,060 million. Hence, due to resumed activities and relaxation of restrictions due to COVID-19, the market is expected to gain growth over the coming years.
The ultrasonic electrosurgical devices use the mechanical energy of vibrations for surgical cutting or control bleeding by causing coagulation at the surgical site. The high prevalence of chronic diseases such as cardiovascular diseases and cancer, the rising geriatric population, and an increase in several surgical procedures are some of the major factors promoting the demand for ultrasonic electrosurgical devices during the forecast period. For instance, as per the Statistics Canada, 233,900 people in Canada are estimated to be diagnosed with cancer. The most commonly diagnosed cancers are expected to be lung, breast, prostate and colorectal cancers which increases the demand for resection using advanced devices like ultrasonic electrosurgical devices. Thus, the high incidence of chronic diseases like cancers boosts the market to grow over the study period.
Furthermore, the new collaborations for the development of effecient products increase the widespread applications of the products. For instance, in November 2021, Catcher Technology collaborated with Taiwan's Industry Technology Research Institute (ITRI) to co-develop a next-generation integrated electrosurgery system that combines both bipolar and ultrasonic energies. This, increases the effeciency of the products which is expected to boost the market over the forecast period.
However, the shortage of trained and skilled professionals and the stringent regulatory framework are the factors expected to restrain the growth of the market over the forecast period.
Ultrasonic Electrosurgical Devices Market Trends
High-intensity Focused Ultrasonic (HIFU) Ablators is Expected to Have a Significant Growth in the Market Over the Forecast Period
The high-intensity focused ultrasonic (HIFU) ablators are anticipated to hold the major share of revenue in the product type over the forecast period. HIFU ablators use acoustic energy from a high-intensity ultrasound beam. The major factors contributing to the demand for these devices are lower toxicity, minimal pain, and low cost of the procedure as compared to surgery. Moreover, these procedures require a lower rate of anesthesia, and a low risk of infection, and the patients recover at a faster rate than traditional surgical procedures.
The increase in the prevalence of chronic diseases and longer wait times for surgeries and the rising number of research activities related to the use of HIFU for the treatment of different diseases are expected to boost the use of HIFU ablators during the forecast period. For instance, in January 2022, under the Journal Cancers, EDAP published the positive pre-clinical results of using intraoperative HIFU ablation of locally advanced pancreatic cancer.
Furthermore, in September 2021, researchers from Taiwan's NHRI developed an innovative system that uses HIFU ablation to treat breast cancer with fewer side effects. Moreover, the collaborations among the market players and research institutes will help to promote technological advancement and better use of these devices. For instance, in June 2021, Theraclion collaborated with the University of Virginia Cancer Center to expand the use of the company's HIFU system with immunotherapy to treat breast cancer. Hence, the new research studies on the products in the segment increase the widespread applications which are expected to have a significant growth in the market over the forecast period.
North America is Expected to Hold a Significant Share in the Market Over the Forecast Period
North America is expected to hold a significant share of the ultrasonic electrosurgical devices market over the forecast period. Government support promoting product development, availability of sophisticated healthcare infrastructure, longer surgical wait times, and high awareness among patients regarding the presence of advanced treatment devices are some prominent drivers for the growth of the market.
As per the Health Authorities in B.C. 2022, the surgical wait time for 90% of skin tumor removal cases in Canada is predicted to be 15.2 weeks. Longer open surgery wait times increase the adoption of minimally invasive techniques like electrosurgery, which rise the demand for ultrasonic electrosurgical devices in healthcare facilities and is expected to have a significant impact on the market over the study period.
Furthermore, the new initiatives of the market players through new approvals and launches in the region are expected to drive the market to grow. For instance, in May 2021, Orthofix Medical Inc launched the OSCAR PRO Ultrasonic Arthroplasty Revision System in the United States. The OSCAR PRO is an ultrasonic surgical device that assists in the removal of cement during difficult joint revision procedures. Thus, the new product launches increase the widespread distribution of products within the region and are expected to have significant growth in the market over the forecast period.
Ultrasonic Electrosurgical Devices Industry Overview
The ultrasonic electrosurgical devices market is fragmented with several market players. The market leaders have adopted collaborations and better distribution systems to establish their position in the market. Moreover, the promotion of awareness of such advanced medical devices with more precision and fewer side effects by the market players in developed and developing regions will help to promote the use of ultrasonic electrosurgical devices. Some of the major players in the market are Medtronic, BOWA-electronic GmbH & Co. KG, Johnson & Johnson, Advanced Instrumentations, Olympus Corporation, Bioventus LLC (Misonix, Inc), Söring GmbH, Italia Medica, Reach Surgical,Sonablate and others.
Ultrasonic Electrosurgical Devices Market Leaders
Medtronic
Boston Scientific Corporation
Olympus Corporation
Johnson & Johnson
Bioventus LLC (Misonix, Inc)
- *Disclaimer: Major Players sorted in no particular order
Ultrasonic Electrosurgical Devices Market News
- In September 2022, Olympus Corporation launched the THUNDERBEAT Open Fine Jaw Type X surgical energy devices for open surgery in Japan. With a new thermal shield, the THUNDERBEAT Open Fine Jaw Type X surgical energy device is designed to support safer procedures. The THUNDERBEAT Open Fine Jaw Type X device is a single-use hybrid ultrasonic and bipolar electrosurgical instrument intended for use in open surgery.
- In August 2022, Bioventus Inc. received 510(k) clearance from the United States FDA for its neXus SonaStar Elite handpiece. The SonaStar Elite handpiece is the latest innovation in the neXus ultrasonic surgical pipeline.
