Demanded overview of electrosurgical devices market


Electrosurgery is a technique used in surgery to quickly dissect soft tissue and reduce bleeding. The electrical resistance of these soft tissues to an electromagnetic current produces heat. The power, waveform, and surgical method utilized in electrosurgery all impact the endpoints. The various tools used in electrosurgery are referred to as electrosurgery devices.

In 2021, the market value of electrosurgical devices was USD 3.18 billion, and by 2030 it will be worth USD 5.25 billion, at a 5.73% CAGR during the forecast period. 

The expansion of the electrosurgery devices market is driven by factors such as an enormous geriatric population, the growing rate of chronic diseases, and technological advancements. On the other side, the government’s strict regulatory frameworks for product approval may limit the industry’s growth. Nonetheless, the market for electrosurgery devices will have favorable growth due to the strong market potential in emerging nations.

Market Dynamics

Drivers

Due to the increased incidence of chronic conditions like heart failure and stroke caused by genetics, aging, obesity, and bad lifestyle choices, the market for electrosurgical devices is experiencing a growth in market revenue. The World Health Organization (WHO) (2021) estimates that in 2019 cardiovascular disease (CVDs) was the prominent cause of death worldwide. According to estimates, 17.9 million deaths worldwide in 2019 were attributable to CVDs, or 32% of all fatalities. The majority of cardiovascular diseases are managed surgically.

Therefore, the prevalence of various chronic diseases will increase along with the number of surgeries, such as open heart surgeries and cosmetic surgeries, and this will lead to a rise in the demand for electrosurgical devices.

Restraints

The lack of experienced workers in the healthcare industry and the strict regulatory requirements involved with the approval of electrosurgical devices will both limit the market’s growth.

Opportunity 

Emerging markets with high development potential offer the industry lucrative growth prospects. Moreover, complex, high-tech equipment with high precision and dependability is needed for surgical procedures, including cranial surgery, spine surgery, and neurological surgery, among many others. These operations thereby increase demand and encourage market growth.

Market Segmentation

By Product

The electrosurgical generators ruled the entire market with a significant revenue share. A significant proportion of the electrosurgical generator segment is due to the high utilization volume of both reusable and disposable electrosurgical instruments. Also, the market is expanding because of technological advancements in electrosurgical equipment and a rise in plastic and cosmetic treatments.

The electrode segment will experience substantial growth over the projection period. The expansion is drive by an increase in the prevalence of neurological and cardiovascular diseases, rising investments in the development of medical devices, and rising demand for ambulatory and home care services.

By Application

The general surgery segment ruled the market with a substantial revenue share. The segment’s significant contribution is due to the rising incidence of obesity, the rising number of surgical procedures, the aging population, and the rise in the frequency of various disorders.

Throughout the forecast period, the orthopedic surgery segment will expand quickly. Sports injuries, infections, malignancies, musculoskeletal trauma, and congenital illnesses are all conditions that orthopedic surgeons treat with electrosurgery equipment.

By End-Use

The hospital segment holds a considerable market share and will expand rapidly. It is due to the large number of electrosurgery procedures performed in hospitals, the rising demand for minimally invasive procedures, and the expanding adoption of new imaging modalities to improve hospital workflow efficiency.

Regional Overview 

North America was the largest regional market with considerable revenue share. The expanding rate of chronic diseases, the rise in ablation facilities, the accessibility of cutting-edge electrosurgical technology, the high inclination for minimally invasive procedures, and the trend towards outpatient surgery are the main factors driving this market’s sizeable share.

Asia-Pacific will experience substantial expansion during the forecast period. The aging population in nations like China and India, emerging markets’ adoption of cutting-edge healthcare choices, and growing public knowledge of the advantages of electrosurgery contribute to the market’s expansion. The market for electrosurgery equipment in Asia-Pacific is expanding more quickly due to rising accident rates and treatment costs.

Key Players 

  • Smith and Nephew
  • Boston Scientific
  • Parkell Inc.
  • Bovie Medical Corporation
  • Braun Melsungen AG
  • Covidien plc
  • Olympus Corporation
  • Kirwan Surgical Products LLC
  • ATMOS Inc.
  • Ethicon Inc.

In 2021, the market value of electrosurgical devices was USD 3.18 billion, and by 2030 it will be worth USD 5.25 billion, at a 5.73% CAGR during the forecast period. The rising demand for sophisticated devices due to an increasing rate of chronic diseases. And surgical procedures like general surgery or neurological surgery, escalating awareness campaigns. And technological advancements leading to the introduction of novel products are the main factors propelling the global electrosurgical devices market.

Related Reports:

Apheresis Market Report – The global apheresis market will witness a robust CAGR of 7.78%, valued at $1.79 billion in 2021, expected to appreciate and reach $3.87 billion by 2030, confirms Strategic Market Research. Apheresis is define as a medical procedure that involves the purification of blood or the separation of distinct blood components.


Muteeb Asim

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