Electrosurgical Pencil Market: Overview
- Electrosurgical pencil is used for cutting and coagulation of tissues. The pencil is available in different modes, such as bottom switch, rocker switch, and foot switch control with various shape blade tips. The extensive range allows surgeons to select tip, switch, and accessories to ensure a streamlined procedure with better cutting control and coagulation settings. The seal up configuration of the pencil endues within circuit board high waterproof property that increases its longevity.
- The global electrosurgical pencil market is anticipated to expand at a significant pace during the forecast period, owing to the increase in the number of surgeries and high preference by surgeon due to better cutting control and coagulation of tissues
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Key Drivers of Global Electrosurgical Pencil Market
- According to the American Heart Association, cardiovascular disease is one of the most common reasons for mortality, accounting for approximately 17 million deaths (30% deaths) every year, a number that is expected to increase to over 23.6 million by 2030. The most common reasons for cardiovascular disease are unhealthy diet, physical inactivity, cholesterol, tobacco use, and alcohol. Rise in cases of cardiovascular disease will require surgical procedures. This is expected to drive the global electrosurgical pencil market during the forecast period.
- Companies operating in the global electrosurgical pencils market are improving their distribution network. They have adopted strategies, such as mergers & acquisitions, development of new products, joint ventures, and expansions, to cater to the increasing demand for electrosurgical pencils in different regions. Recently, in 2018, Stryker acquired SafeAir AG, a Switzerland-based surgical smoke evacuation company, which specializes in manufacturing of electrosurgical pencils for different surgical procedures.
Product Recall May Hamper Market
- Defect in products due to technical problems or packaging can disrupt surgical procedures and this can hamper the brand image of the product. In May 2018, the FDA issued a Class II device recall of Olsen Monopolar Pencil, a product of SYMMETRY SURGICAL INC, due to encroachment in the sterile pouch seal.
Asia Pacific to Hold a Major Share of Global Electrosurgical Pencil Market
- Asia Pacific is a leading consumer of electrosurgical pencils due to the increase in the number of surgeries and rise in adoption of modern surgical instruments to perform surgeries. These factors are expected to drive the demand for electrosurgical pencils in the Asia Pacific. Moreover, preference for minimally invasive surgeries is likely to increase the use of electrosurgical pencil in countries such as India and China.
- The electrosurgical pencil market in North America is estimated to expand at a rapid pace during the forecast period. This can be attributed to increase in geriatric population, and favorable and reimbursement policies for surgeries in the region. Moreover, high volume of surgeries is also expected to drive the electrosurgical pencil market. According to the Texas Heart Institute, 500,000 coronary bypass procedures are performed every year in the U.S.
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Key Players Operating in Global Market:
Major players operating in the global electrosurgical pencil market are:
- BAISHENG MEDICAL CO.,LTD.
- CONMED Corporation
- Pathy Medical, LLC.
- Johnson & Johnson Service Inc.
- Erbe Elektromedizin GmbH
- Shining World Health Care Co. Ltd
- Xodus Medical Inc.
- Yancheng Tianrun Medical Technology Co.,Ltd.
Global Electrosurgical Pencil Market: Research Scope
Global Electrosurgical Pencil Market, by Instrument Type
- Smoke Evacuation Pencils
- Illumination Pencils
Global Electrosurgical Pencil Market, by Mode of Control
- Hand Control
- Foot Control
Global Electrosurgical Pencil Market, by Application
Global Electrosurgical Pencil Market, by End-user
- Ambulatory Surgical Centers
- Specialty Clinics
- Nursing Homes
Global Electrosurgical Pencil Market, by Region
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
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- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
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Below is a snapshot of these quadrants.
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The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
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