Rockville, June 02, 2023 (GLOBE NEWSWIRE) -- The market for hydrosurgery systems is projected to generate US$ 287 million in sales by the end of 2033. It is now estimated to be worth US$ 119 million in 2023. According to research, the global hydrosurgery systems market would increase rapidly over the next 10 years at a rate of 9.2% CAGR.
With the use of high-pressure saline irrigation, debris and injured tissue are removed from wounds using hydrosurgery equipment. Due to its efficiency and speed, hydrosurgery is the type of debridement that is most frequently used. Future sales of hydrosurgery devices are anticipated to increase due to the capability of debriding specific locations.
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Key Driving Forces Accelerating the Market Growth
- The aging population in the US is driving the demand for surgical interventions. Elderly individuals often require surgeries for various age-related conditions, and hydro surgery systems offer advantages in terms of precision, safety, and faster recovery, making them an attractive option for this patient demographic. Moreover, private organizations and healthcare institutions are investing in upgrading healthcare infrastructure, including surgical equipment.
- There is a growing preference for minimally invasive surgical procedures, as they offer benefits such as reduced scarring, shorter recovery times, and lower risk of complications. Hydro-surgery systems provide a minimally invasive approach by using high-pressure water jets to precisely dissect and remove tissue, making them popular among surgeons and patients alike.
- The advancements in surgical technology, including the development of advanced hydro surgery systems, have played a significant role in driving the market growth in Canada. These systems offer enhanced precision, control, and efficiency during surgical procedures, leading to improved patient outcomes. As technology continues to evolve, hydro surgery systems are becoming more sophisticated and capable of addressing a wider range of surgical applications.
- Moreover, countries such as Mexico have emerged as a popular destination for medical tourism, attracting patients from the United States, Canada, and other countries seeking affordable medical treatments. The availability of advanced surgical technologies, including hydro surgery systems, has positioned Mexico as a favorable destination for patients seeking high-quality surgical procedures at a lower cost.
Vital indicators shaping the future of the industry
- As healthcare costs in established economies such as the US continue to rise, there is a growing emphasis on cost-effective treatment options. Hydro-surgery systems, with their potential to reduce the length of hospital stays, postoperative complications, and the need for additional procedures, can contribute to cost savings in the long run.
- Like in other regions, there is a growing preference for minimally invasive surgical procedures in various countries such as Canada. Hydro-surgery systems offer precise and controlled tissue resection, making them suitable for minimally invasive surgeries. As patients and healthcare providers increasingly seek less invasive treatment options, the demand for hydro surgery systems is expected to rise.
- The increasing prevalence of chronic diseases, such as cardiovascular disorders, cancer, and orthopedic conditions, is driving the need for advanced surgical interventions. Hydro-surgery systems provide a minimally invasive option for surgical treatment, which can lead to improved patient outcomes and faster recovery times.
- Government initiatives and healthcare policies can significantly impact the adoption of new medical technologies.
- For instance, In Mexico, policies that promote minimally invasive procedures, improve patient outcomes and reduce healthcare costs may encourage the adoption of hydro surgery systems. Reimbursement policies and funding for healthcare infrastructure can also play a crucial role in shaping the future of the hydro surgery systems market in Mexico.
- For instance, In Mexico, policies that promote minimally invasive procedures, improve patient outcomes and reduce healthcare costs may encourage the adoption of hydro surgery systems. Reimbursement policies and funding for healthcare infrastructure can also play a crucial role in shaping the future of the hydro surgery systems market in Mexico.
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Challenges hindering the market growth
- Hydro-surgery systems often require a substantial initial investment, including the purchase of equipment and installation. The high upfront costs can be a barrier to entry for healthcare facilities, particularly smaller clinics or hospitals with limited budgets. The cost of maintaining and servicing the equipment may also pose financial challenges.
- Meeting regulatory requirements and obtaining necessary approvals can be time-consuming and costly for manufacturers of hydro surgery systems. The regulatory processes in various countries may involve rigorous evaluations, clinical trials, and compliance with specific standards. The lengthy approval timelines and complex procedures can delay the availability and accessibility of hydro surgery systems in the market.
How competition influences the market
- Competition encourages companies to invest in research and development to create new and improved hydro surgery systems. Each player strives to offer advanced technologies, enhanced functionalities, and superior performance to gain a competitive edge.
- For instance, HydroCision Inc. had successfully received a patent from the United States Patent and Trademark Office called Selective Tissue Removal Treatment Device for its TenJet Device.
- Competition in Canada's hydro surgery systems market compels companies to focus on customer satisfaction. Manufacturers invest in providing excellent customer service, technical support, and training programs. They also prioritize warranty programs to retain existing customers and attract new ones.
- Competition fosters differentiation in Mexico's hydro surgery systems market as well. Manufacturers may specialize in specific niche markets or offer unique features or applications to cater to specific customer needs. This differentiation allows companies to gain a competitive advantage and meet the diverse requirements of healthcare providers.
Competitive Landscape
Smith & Nephew, a British medical equipment manufacturing company, accounts for a prominent share of the global hydrosurgery systems industry landscape at present. The company’s VERSAJET II Hydrosurgery System is one of the most popular hydrosurgery systems available in the global marketplace. The company has also been focusing on mergers and acquisitions to strengthen its place in the advanced wound care marketplace and maintain its authoritative share in the future.
Leading hydrosurgery system manufacturers are focusing on expanding their wound care product portfolio by launching new products and acquiring new patents.
- In June 2022, HydroCision Inc., a private medical device company, announced that it successfully received a patent from the United States Patent and Trademark Office called Selective Tissue Removal Treatment Device for its TenJet device. The new patent allows the application of HydroCision’s FluidJet technology for chronic tendon pain.
Key Companies
- Erbe Elektromedizin GmbH
- HydroCision Inc.
- Smith & Nephew plc.
- Inmito Meditech Pvt. Ltd.
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Key Segments of Hydrosurgery Systems Industry Research
- By Component:
- System Consoles
- Handpieces
- Accessories
- By Application:
- Chronic Wounds
- Acute Wounds
- Surgical Wounds
- Traumatic Wounds
- Burn Cases
- By End User:
- Hospitals
- Specialized Clinics
- Long-term Care Centers
- Ambulatory Surgical Centers
- Homecare Settings
- By Region:
- North America
- Latin America
- Europe
- APAC
- MEA
Key Questions Covered in the Hydrosurgery Systems Market Report
- What will be the estimated size of the Market in 2023?
- At what rate will the global Hydrosurgery Systems sales grow until 2033?
- Which are the factors hampering the Hydrosurgery Systems demand?
- Which region will spearhead the growth in the global industry by 2033?
- Which are the factors driving sales in the Hydrosurgery Systems Market during the forecast period?
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