Direct Energy Medical Devices Market Size, Share & Trends Analysis Report By Type (Radiation, Radiofrequency, Ultrasound, Microwave), By Application (Aesthetics, Cardiovascular, Gynecology), By Region, And Segment Forecasts, 2020 - 2027

Report Overview

The global direct energy medical devices market size was valued at USD 1.4 billion in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 4.3% from 2020 to 2027. The increasing prevalence of chronic illness, rising awareness regarding aesthetic procedures, and the growing adoption of less invasive surgeries are the major factors expected to drive the market. The global increase in the incidence of chronic diseases such as cardiovascular disorders, cancer, urological disorders, autoimmune diseases, and other chronic conditions is one of the high impact rendering drivers on the market. As per WHO in 2018, every year 41.0 million people die due to chronic disorders, which accounts for 71.0% of deaths, worldwide. For instance, cardiovascular disorders are the leading cause of death around the world. Around 17.9 million people died from CVDs in 2016. The number of individuals affected with associated diseases or conditions continues to rise around the world, which, in turn, promotes the demand for surgical procedures by using direct energy medical devices.

This is anticipated to boost the growth of the market for direct energy medical devices during the forecast period. Rising inclination towards minimally invasive surgical procedures and growing awareness about the safety and benefits of direct energy medical devices are majorly driving the market. Patients prefer minimally invasive surgery because it reduces the recovery time as well as offers lesser discomfort than traditional surgical procedures, which are painful and costly. This procedure involves numerous benefits such as minimizing incisions and allowing surgeons to hide scars, cosmetically. Due to the less-invasive nature of direct energy medical devices, patients recover faster, and surgeons have more time span to dedicate it to other surgeries. For instance, the Sonicision Cordless Ultrasonic Dissection Device by Medtronic is intended for open and laparoscopic procedures such as soft-tissue dissection and vessel coagulation and is widely recommended by physicians. It can be performed on different application fields such as urology, gynecology, general, pediatrics, plastics, and orthopedic structures. Thus, due to these advantages, the adoption of direct energy medical devices has been increased significantly, thus responsible for the growth of the market for direct energy medical devices.

Furthermore, the increasing popularity of cosmetic treatments owing to aging and obesity as well as the rising need for superior technology are expected to upsurge the demand for direct energy medical devices over the forecast period. The advent of new technologies has led to several benefits such as reduced operative times, fast patient recovery, minimal invasion, and reduced post-operative complications or infections. Direct energy medical devices include the usage of sophisticated components such as combined monopolar, bipolar, and ultrasonic energy, dynamic heat engines, electrostatic direct collectors, solar cells, and magnetic converters. For instance, in April 2019, Lumenis Ltd., manufacturer of energy-based medical devices for surgical, aesthetic, and ophthalmic applications launched its latest skin rejuvenating technology platform “Legend Pro+”. It is a multi-functional platform that provides a range of non-invasive face and body aesthetic treatments such as, skin tightening, wrinkle reduction, and cellulite reduction. This is expected to facilitate the growth of the market for direct energy medical devices over the forecast period.

Countries such as the U.S. and Canada have witnessed increasing cases of chronic diseases and a growing number of surgeries in recent years. An increasing number of people suffering from chronic ailments such as cardiovascular disorders, cancer, and urological disorders are majorly driving the market for direct energy medical devices. Heart disease is the leading cause of death in America. For instance, according to the CDC, in 2017 approximately 18.2 million people in the U.S. had coronary heart disease and around 647,000 Americans die from heart disease every year. Therefore, Coronary Artery Bypass Graft (CABG) surgery has become the most common type of heart surgery in the U.S. and over 200,000 procedures are performed every year, as per the Texas Heart Institute Report. Similarly, according to the Organization for Economic Co-operation and Development (OECD), in 2018 approximately 417,951 cataract surgeries, 20,324 coronary artery bypass graft, and 61,731 hip replacement surgeries were performed in Canada. Thus, the increasing prevalence of associated diseases or disorders is resulting in the growing number of surgical procedures. This is anticipated to boost the growth of the market for direct energy medical devices in the forecast period.

Additionally, the increasing number of surgeries, especially laparoscopy, aesthetics, cardiovascular, gynecology, orthopedics, urological, and ophthalmology surgeries in the developed as well as developing countries has led the launch of technologically advanced products in the market. For instance, Medtronic’s HET Bipolar System used for the treatment for all symptomatic grades I and II hemorrhoids. This system allows for non-surgical treatment in a single procedure with minimum collateral tissue damage. Thus, market players are making constant efforts for introducing technologically advanced products in the market for direct energy medical devices.

Type Insights

The radiofrequency segment dominated the direct energy medical devices market with a revenue share of 25.4% in 2019. Radiofrequency based direct energy medical devices utilize radiofrequency waves to eliminate or reduce the transmission of pain in the body. The advantages of these devices include non-surgical treatment, instant pain relief, reduced medication pain for pain, little to no recovery time, and a quicker return to work and other activities. In addition, these devices are also used in various aesthetic procedures such as skin tightening, body contouring by heating up and destroying fat cells, collagen production, and facial rejuvenation. Thus, benefits offered by radiofrequency based devices are propelling the growth of the market for direct energy medical devices.

Whereas, the others segment which includes electrical, light, and cryotherapy is expected to witness the highest CAGR of 5.3% in the market for direct energy medical devices over the forecast period. The laser/light device is usually required for non-surgical treatment of varicose veins, dentistry, therapeutic, and cosmetics. It allows extremely fine and precise cuts, consumes less power, and has low maintenance costs further adding to their cost-effective nature. They are also used in cosmetic surgery to eradicate tattoos, stretch marks, scars, wrinkles, or hair. Whereas, during electrical or electrocautery procedures, the surgeon uses an electric current that travels through a wire on the target tissue to remove or destroy it and further used to burn and seal blood vessels. This helps stop or reduce bleeding during surgery. Thus, the advantages offered such as, minimally invasive, same-day procedure, decrease postoperative discomfort, reduce the chance of wound infection is expected to boost the segment growth during the forecast period.

Application Insights

The orthopedics segment dominated the market for direct energy medical devices and accounted for a revenue share of 23.6% in 2019. A high prevalence of orthopedic disease and conditions is anticipated to boost segment growth during the forecast period. Osteoporosis and osteopenia are some of the common conditions in the geriatric population, which are a result of low bone mass & bone density. As per the American Cancer Society, in the U.S., around 800 to 900 new osteosarcoma cases are diagnosed every year, of these, half are in children and teenagers, and approximately 10% of these cases are diagnosed in people above 60 years. Direct energy medical devices aid in the management of associated disorders such as hip replacement surgery, bone cancer therapy, and others. Thus, these factors are anticipated to increase the demand for direct energy medical devices during the forecast period.

The aesthetics segment is expected to witness a CAGR of 5.8% in the market for direct energy medical devices over the forecast period. This is owing to factors such as the increasing number of obese populations, as well as raising awareness regarding aesthetic procedures. For instance, as per the Plastic Surgery Statistics Report 2018 in the U.S., more than 17.7 million cosmetic surgical procedures performed in 2018. Out of which 15.9 million cosmetic surgeries were minimally invasive procedures. Direct energy medical devices are used for numerous aesthetic procedures, which include hair removal, plastic surgery, aesthetic implants, excess fat removal, anti-aging, skin tightening, and tattoo removal, that are used for beautification, and improvement of the looks. Thus, this segment is anticipated to grow fast during the forecast period.

Regional Insights

North America dominated the market for direct energy medical devices and accounted for a revenue share of 48.5% in 2019. This is attributable to the presence of well-established healthcare facilities in the region, increasing prevalence of chronic illnesses, and the availability of highly skilled healthcare professionals. The market for North America is majorly driven by the growing occurrence of targeted diseases such as cardiovascular diseases, obesity, and cancer, the rising popularity of cosmetic treatments, and supporting healthcare infrastructure in the region. In addition, the presence of major key players such as Medtronic, Boston Scientific Corporation, and Stryker Corporation, is also contributing towards market growth in the region. Moreover, a growing number of minimally invasive surgical procedures and the easy accessibility and availability of advanced therapeutic and diagnostic equipment are primarily driving the market for direct energy medical devices.

In the Asia Pacific, the market for direct energy medical devices is expected to witness a CAGR of 5.9% over the forecast period. This is attributed to factors such as the presence of a large patient base, increasing medical tourism, rising healthcare expenditure by the government, and the adoption of minimally invasive surgeries. In addition, as per the WHO Report, approximately 8.5 million people die every year due to various non-communicable diseases South-East Asia Region. It also reported that cardiovascular diseases, cancer, and obesity are the most common diseases in this region. Thus, these factors are driving the market for direct energy medical devices in this region.

Key Companies & Market Share Insights

Key companies are emphasizing research and development to develop technologically advanced products to gain a competitive edge. For instance, in June 2020, Boston Scientific Corporation announced the launch of DIRECTSENSE Technology in the U.S. This device is designed for examining the impact of radiofrequency energy delivery during cardiac ablation procedures. Similarly, in January 2020, Medtronic received U.S. FDA approval for the Pulse Select Pulsed Field Ablation System trial to assess its safety and effectiveness. This device uses a new energy source with pulsed electric fields to treat atrial fibrillation. These advancements are anticipated to boost the growth of the market for direct energy medical devices over the forecast period.

Companies are involving mergers, acquisitions, and partnerships aiming to strengthen their product portfolio, manufacturing capacities, and provide competitive diversity. For instance, in February 2019, CONMED Corporation announced the acquisition of Buffalo Filter LLC- a healthcare company specializes in surgical smoke evacuation technologies. Through this acquisition, the company will expand its General Surgery product portfolio by providing smoke-evacuation products such as smoke evacuators, smoke evacuation pencils, and laparoscopic solutions. In addition, in September 2019, Ethicon, Inc., (Johnson & Johnson) announced the acquisition of Auris Health, Inc., developer of robotic technologies. With this acquisition, the company will deliver digital surgery solutions and expand its digital surgery product portfolio through multiple surgical specialties. Some of the prominent players in the direct energy medical devices market include:

• Medtronic

• CONMED Corporation

• Boston Scientific Corporation

• Stryker Corporation

• Olympus Corporation

• B. Braun Melsungen AG

• Ethicon, Inc.

• Karl Storz

Direct Energy Medical Devices Market Report Scope

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest trends in each of the sub-segments from 2016 to 2027. For the purpose of this study, Grand View Research has segmented the global direct energy medical devices market report on the basis of type, application, and region:

• Type Outlook (Revenue, USD Million, 2016 - 2027)

  • Radiation

  • Radiofrequency

  • Ultrasound

  • Microwave

  • Others

• Application Outlook (Revenue, USD Million, 2016 - 2027)

  • Aesthetics

  • Cardiovascular

  • Gynecology

  • Orthopedics

  • Urology

  • Ophthalmology

  • Laparoscopy

  • Others

• Regional Outlook (Revenue, USD Million, 2016 - 2027)

  • North America

    • The U.S.

    • Canada

  • Europe

    • Germany

    • The U.K.

    • France

    • Italy

    • Spain

  • Asia Pacific

    • Japan

    • China

    • India

    • Australia

    • South Korea

  • Latin America

    • Brazil

    • Mexico

    • Argentina

    • Colombia

  • The Middle East and Africa (MEA)

    • South Africa

    • Saudi Arabia

    • UAE