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
Get an Idea about the Offerings of Our Electrosurgical Pencil Market Report from this Brochure
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.
Expanding Operations in Future? To Get the Perfect Launch Ask for a Custom Electrosurgical Pencil Market Report
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
- Insights and Tools based on data-driven research
- 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
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
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?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
With a robust experience in creating exceptional market reports, Transparency Market Research has emerged as one of the trusted market research companies among a large number of stakeholders and CXOs. Every report at Transparency Market Research goes through rigorous research activity in every aspect. The researchers at TMR keep a close watch on the market and extract beneficial growth-boosting points. These points help the stakeholders to strategize their business plans accordingly.
TMR researchers conduct exhaustive qualitative and quantitative research. This research involves taking inputs from the experts in the market, focused attention on recent developments, and others. This method of research makes TMR stand out from other market research firms.
Here's how Transparency Market Research helps the stakeholders and CXOs through the reports:
Inculcation and Evaluation of Strategic Collaborations: The TMR researchers analyze recent strategic activities like mergers, acquisitions, partnerships, collaborations, and joint ventures. All the information is compiled and included in the report.
Perfect Market Size Estimations: The report analyzes the demographics, growth potential, and capability of the market through the forecast period. This factor leads to the estimation of the market size and also provides an outline about how the market will retrieve growth during the assessment period.
Investment Research: The report focuses on the ongoing and upcoming investment opportunities across a particular market. These developments make the stakeholders aware of the current investment scenario across the market.
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.