Plasma technology-based cut coagulation and surgical plasma ablation systems have already made significant impact on how ablation procedure is performed and are being widely adopted in modern surgical practices. A new research study of Persistence Market Research (PMR) suggests that the global market for plasma surgery will surpass the revenues worth US$ 56 Mn by 2019 end, and there would be healthy adoption of plasma surgery throughout the next decade.
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As plasma surgery involves relatively low tissue damage that that after a traditional electrosurgery procedure, this demand will continue to see an upward trend over the following years. Improved outcomes leading to quality life and long-term survival benefits will further contribute to its rapidly rising traction.
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Key Takeaways – Plasma Surgery Market Study
- Significant advantages of plasma surgery system, increasing awareness for plasma technology, improving reimbursement scenarios for surgical reconstruction, and wider indication pool for dissection, coagulation and ablation are key factors influencing the plasma surgery market in developing regions.
- High upfront cost is posing a negative impact on end users’ decision to purchase plasma surgery systems. To resolve this issue, manufacturers are offering plasma surgery systems at a competitive pricing lowering plasma generator cost and probe cost.
- Plasma ablation systems with high level precision and procedural advantage over laser- guided electrosurgery are expected to generate significant revenue.
- Increasing adoption of plasma surgery for dissection in ENT intervention as compared to ablation procedure marks higher revenue potential.
Fast track approvals for expanded indication for plasma surgery device are expected to renew interest in plasma surgery technology and disrupt the electrosurgical devices business.
Key Players Prioritize Strategic Acquisitions for Regional Stronghold
Key manufacturers are entering the plasma surgery market by strategically focusing on mergers and acquisitions, considering the disruptive technology of these systems. Manufacturers are focusing on expanded indication and application to increase profitability. In reference to these market changes, another prominent factor affecting the plasma surgery market is the entry of upstream and downstream manufacturers. Market leaders are continuously striving to strengthen their market leadership.
In 2018, Bovie Medical Corporation agreed to sale its core business to Symmetry Surgical Inc. in a deal with an equity value of roughly $97 million in cash. With Bovie Medical portfolio, Symmetry acquired Renuvion™ system, used in cosmetic technology and cosmetic surgery.
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What Does the Report Cover?
Persistence Market Research offers a unique perspective and actionable insights on plasma surgery in its latest study, presenting historical demand assessment from 2014 – 2018 and projections from 2019 – 2029 on the basis of product category (neutral plasma surgery system, plasma ablation systems and cold plasma surgical systems), application (ablation, resection and dissection), and end user (speciality clinics, ambulatory surgical centers and hospitals) in seven key regions.
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