Rise in the rate of geriatric population in the Asia-Pacific region, in the last few years, has given way to increasing amount of surgical procedures, which in turn has escalated the demand for electrosurgical devices in more than one way.
Asia-Pacific Electrosurgical Devices Market Overview:
Rise in the rate of geriatric population in the Asia-Pacific region, in the last few years, has given way to increasing amount of surgical procedures, which in turn has escalated the demand for electrosurgical devices in more than one way. At the same time, growing rate of chronic disorders among the elderly population in countries such as China, Japan, India, and others has paved the way for a lot of opportunities in the industry.
According to Allied Market Research, the Asia-Pacific electrosurgical devices market is projected to display a noteworthy CAGR from 2014 to 2022. Medical tourism has started gaining huge popularity over the last decade. The electrosurgical equipment manufacturers across Singapore, Thailand, Malaysia, Brazil, China, Malaysia, and India have also been highly benefitted in due course. Especially, India is highly popular due to the high-quality care offered here with significantly lower costs. The medical tourism market in India contributed to nearly dollar three billion in 2015 and is projected to dollar eight billion by the year 2020.
A lot of healthcare centers across the Asia-Pacific region have gone along with various partnerships and collaborations at an international level, which has boosted the drift of medical tourism even more, and eventually stimulated the electrosurgical devices market in Asia-Pacific. In a nutshell, the booming medical tourism sector in the province, development in healthcare infrastructure, rise in healthcare outlays, and surge in demand for avant-garde surgical techniques from widespread patient population in countries like India and China have been highly beneficial for the industry.
Joint reconstruction, for example, is a surgical approach utilized for refurbishing and reinstating full function of joint intersections in the human body. Advent of high-end surgical methods and equipment is giving way to a more positive outlook among patients in the lookout for surgical procedures to mend joints instead of plumping for joint replacement. ACL technique, for instance, is utilized for sustaining stability of the hinge in the knee, especially while walking, running, and playing football. Mainly, ACL surgery is performed using a minimally invasive method, but there are certain cases that call for larger incision like open surgery too.
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Top Leading Players:
- Braun Melsungen AG (Germany)
- Bovie Medical Corporation (U.S.)
- Megadyne Medical Products Inc. (U.S.)
- CONMED Corporation (U.S.)
- Medtronic plc. (Ireland)
- Johnson & Johnson (U.S.)
- ERBE Elektromedizin GmbH (Germany)
- KLS Martin Group (Germany)
- Olympus Corporation (Japan)
Covid-19 scenario-
Here, it’s worth stating that the outbreak of the pandemic led to a steep decline in the number of elective surgeries in the majority of countries. Most of the surgeries were either delayed or postponed so as to contain the spread of the virus, especially during the initial phase, thereby impacting the market negatively. However, the market is projected to revive really soon.