Bipolar Electrosurgical Device Market Trends

Growth Drivers

• Increasing Geriatric Population Around The Globe-As of the end of 2021, there were 747,238,580 elderly people in the world, according to the data reported by the World Bank. In the future, the number is expected to increase.
• Increase in the number of elderly people and the subsequent increase in the prevalence of various diseases and conditions among them along with the growing number of elderly people undergoing surgical procedures are major factors anticipated to drive market growth over the forecast period.
• Rising Number of Patients Undergoing Cardiac Surgery - For instance, cardiovascular surgeries in the United States exceed 890,000 each year. There has been rapid growth in the US cardiac surgery sector, driven by the growth of a number of underlying procedures.
• Emergence Of Innovative Product Launches By Key Manufacturers - For instance, in February 2019, 4T Medical introduced Zeus, a plasma / electrosurgical device with multiple frequencies. As well as performing surgery, Zeus is capable of performing non-surgical procedures in a wide variety of fields, including aesthetic medicine, ophthalmology, neurosurgery, dentistry, and gynecology.
• Upsurge in Number of Surgeries Being Performed Worldwide- It was observed that the number of major surgeries performed worldwide each year is approximately 300 million, of which 45 million take place in the United States, and 22 million take place in Europe.
• Growth in Personal Disposable Income- According to the Bureau of Economic Analysis, the amount of personal income and disposable personal income (DPI) increased by USD 47.0 billion (0.2%) and USD 37.6 billion (0.2%), respectively, during July 2022.

Challenges

• High Cost Associated With The Bipolar Electrosurgical Devices
• Risk Of Side Effects Related To Such Devices
• Disruption In Demand And Supply Due To Covid-19