Global Suction Coagulators Market: Introduction
Suction Coagulators are used for controlled fluid evacuation. In addition, suction coagulators provide coagulation and suction procedure simultaneously. The device is latex free, disposable and flexible that provides specific surgical needs.
Global Suction Coagulators Market: Competition Landscape
Key players operating in the global suction coagulators market are Covidien (Medtronic), Bovie Medical, Megadyne, CONMED, DeRoyal, Kirwan Surgical Products, LLC, and HCP-Austria. The global suction coagulators market is consolidated with the presence of less number of manufacturers. Increase in strategic collaborations and new product launches are expected to drive the global suction coagulators market during the forecast period.
Bovie Medical Corporation is an energy-based medical device company that develops and manufactures electrosurgical products and technologies. The company operates through three segments: Electrosurgery, Cauteries, and Other Products. The company is established in 1982 and headquartered in the U.S.
Medtronic operates through four business segments: Cardiac and Vascular Group, Minimally Invasive Therapies Group, Diabetes Group, and Restorative Therapies Group. The minimally invasive therapies group is sub-segmented into surgical solutions and patient monitoring & recovery. Medtronic’s deep understanding of universal healthcare challenges extends its reach to more than 140 countries.
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CONMED is a medical technology company that is engaged in the manufacturing of surgical devices and equipment for minimally invasive procedures and monitoring. The company specializes in equipment relating to arthroscopy, electrosurgery, endoscopy, endosurgery, gastroenterology, integrated systems, patient care, powered surgical instruments, and pulmonology markets. It operates through five business segments: Arthroscopy, Powered Surgical Instruments, Electrosurgery, Patient Care, and Endosurgery.
Global Suction Coagulators Market: Dynamics
The global suction coagulators market is driven by various factors at the regional, national, and global levels. Rise in geriatric population and increase in demand for minimally invasive surgeries are major factors driving the global market. Moreover, development of advanced energy based electrosurgical devices such as suction coagulators and increase in the investment by public and private sectors for the advancement of healthcare and technological innovations are projected to propel the global market during the forecast period. However, stringent government regulatory, and shortage of skilled personnel are likely to restrain the global suction coagulators market during the forecast period.
Increase in Geriatric Population
Continuous increase in the geriatric population is expected to be one of the potential drivers of the global suction coagulators market during the forecast period. The geriatric population is prone to several diseases such as cancer, cardiac arrest, and gastrointestinal diseases due to weak immunity. Moreover, demand for minimally invasive surgeries is high for the treatment of such patients to avoid longer healing time and hospital stay. Hence, increasing need of effective treatment options for the geriatric population is expected to drive demand for suction coagulators market. According to WHO estimates, the global geriatric population is likely to reach around 2 billion (22% of global population) by 2050, which was around 524 million in 2010.
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Rise in Demand for Minimally Invasive Surgeries
Suction coagulators have been widely used for minimal invasive surgeries in the field of gynecology, cosmetology, open surgery, laparoscopic procedures, and flexible endoscopic procedures. Minimally invasive surgeries entail shorter hospital stay, minimal incision, less post-surgery complications, and shorter recovery time. These advantages attract patients and help increase the number of patients opting for minimally invasive surgeries. These type of surgeries are more frequently performed compared to open surgeries. Moreover, the growing trend of computer assisted or robotic minimally invasive surgery is expected to boost the global suction coagulators market.
Shortage of Skilled Personnel to Restrain Market
Suction coagulators are about the control of current density, that is, amount of current per unit area of electrode in contact with tissue. Current density differs as per shape, size, and type of an electrode. If surgeons fail to develop this operating skillset, it is likely to restrain the suction coagulators market.
Global Suction Coagulators Market: Segmentation
Based on product type, the global suction coagulators market can be bifurcated into:
- Handswitch Suction Coagulators
- Footswitch Suction Coagulators
Based on application, the global suction coagulators market can be divided into:
- General Surgery
- Cardiovascular Surgery
Based on end-user, the global suction coagulators market can be segregated into:
- Ambulatory Surgical Centers
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?
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.