Ultrasonic Scalpel Market to grow at a CAGR of 7.9% during 2024-2028
The Ultrasonic Scalpel Market is expected to grow at a CAGR of 7.9% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 992 million. The ultrasonic scalpel market is experiencing a notable trend of strategic collaborations among vendors to expand distribution channels. In a recent development, IMPLANET, a leading medical device company, announced an exclusive partnership with SMTP Technology Co., a renowned high-tech medical device manufacturer specializing in vertebral implants. Under the terms of this agreement, IMPLANET will hold the exclusive distribution rights for the latest generation of ultrasonic surgical scalpels in the French market. This ultrasonic scalpel, approved for use in open, minimally invasive surgeries, and endoscopic intervertebral spine procedures, has secured marketing authorization in significant markets such as China, the European Union, and the United States. The scalpel's innovative design, featuring a cutting tip with reduced amplitude, ensures improved surgical safety.
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Technavio analysts predict that the Ultrasonic scalpel systems subsegment will lead the Product segment during 2024 and 2028 The ultrasonic scalpel market represents a significant growth opportunity for businesses in the medical device industry. This advanced surgical tool utilizes high-frequency ultrasound waves to precisely cut through tissue, reducing bleeding and minimizing damage to surrounding healthy cells. Market trends indicate increasing adoption in various surgical applications, particularly in minimally invasive procedures, driving demand for ultrasonic scalpels. Companies investing in research and development of improved technologies and features are poised to capture a larger market share in this lucrative sector.
Here are the various ways based on which the market is segmented:
There are several factors that are causing the market to flourish rise in demand for faster and safer modes of surgery
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The Ultrasonic Scalpel Market is witnessing significant growth due to the increasing adoption of energy-assisted surgical instruments, such as Ultrasonic Shear Instruments and Transducer Handpieces, in various surgical procedures. Ultrasonic Generators are the power source for these instruments, providing the necessary energy for precise cutting and coagulation. Awareness and education about the benefits of minimally invasive surgery, including reduced blood loss, faster recovery, and lower healthcare expenditure, are driving the market's growth. Ultrasonic scalpels are increasingly being used in plastic and cosmetic surgery, gynecology, orthopedic surgery, and laparoscopic procedures. They offer advantages over conventional tools, such as improved hemostasis and reduced post-surgical treatments. The market's growth is also fueled by the rising prevalence of chronic illnesses, such as cardiovascular diseases and invasive breast cancer, which require surgical interventions. Reimbursements and healthcare policies play a crucial role in the market's growth. Minimally invasive surgeries are often more cost-effective and have shorter hospital stays, making them more attractive to patients and healthcare providers. However, the high initial investment in medical equipment and the need for specialized training for surgeons may limit the market's growth. In conclusion, the Ultrasonic Scalpel Market is expected to continue growing due to the increasing demand for minimally invasive surgical procedures, the benefits of energy-assisted surgical instruments, and the rising prevalence of chronic diseases. However, challenges such as high initial investment and the need for specialized training may limit the market's growth.
Technavio's Ultrasonic Scalpel Market analysis is positioned within the broader context of the global healthcare equipment industry. This market segment is characterized by companies and products involved in the research and development (R&D) of various diagnostic equipment, devices, implants, accessories, and consumables. The size of the global healthcare equipment market is determined by the combined revenue generated by manufacturers of these products across diverse therapy areas. The healthcare equipment sector encompasses the following segments: Devices, including advanced, differentiated, and clinically tested data-driven devices.
The Ultrasonic Scalpel Market is experiencing significant growth, fueled by the rise in demand for faster and safer modes of surgery. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
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