Electrosurgical equipment is frequently utilized in orthopedic, general, and neurosurgical procedures to cut, coagulate, dissect, fulgurate, ablate, and shrink tissues during surgery. The need for minimally invasive surgeries, the rise in the geriatric population, and the number of surgical procedures performed are the main drivers driving the growth of this market. The market worth of electrosurgical devices in 2021 was USD 3.18 billion and will reach USD 5.25 billion by 2030 at a 5.73% CAGR during 2021-2030.
Growth Factors
Electrosurgery equipment is use during surgical procedures like gynecological surgery, cardiovascular surgery, general surgery, and others. Electric current is use in these devices to cause the target tissues to be thermally destroy. Electrosurgery equipment is use during surgical procedures to desiccate, cut, coagulate, and fulgurate tissues. These gadgets pair with specialized tools.
Despite their effectiveness and accuracy, electrosurgical instruments made patients and surgeons more susceptible to respiratory problems brought on by smoke generation. Inhaling surgical smoke, a particular sort of smoke, is extremely risky. By evaporating tissues, a device that increases intracellular temperatures causes surgical smoke. Carcinogens like carbon monoxide, benzene, and hydrogen cyanide are typically present in them.
The growth is fuel by factors such as an enormous elderly population, the growing prevalence of chronic diseases, and technological advancements. On the other hand, the government’s strict regulatory frameworks for product approval will hamper the industry’s growth. However, the market for electrosurgery devices is likely to experience favorable growth due to the high market potential in emerging economies.
Due to its decreased heat distribution and reduced blood loss, this electrosurgery tool has grown in popularity within the medical community. The strong demand for electrosurgery equipment is due to its ability to lower patients’ risk of hemorrhaging.
As the number of cardiac operations increases, so does the desire for surgical techniques that minimize pain while retaining the greatest amount of blood, opening the door for more widespread use of technological equipment.
Key Market Opportunity
The emerging markets with high growth potential will offer lucrative growth opportunities. Complex, high-tech equipment with high precision and dependability is also need for surgical procedures like cranial surgery, spine surgery, and neurological surgery, among many others. These operations thus increase demand and support market growth.
Market Segmentation
Product Insights
In 2020, the electrosurgical generator segment held a 43.6% market share for electrosurgical devices, driven primarily by the widespread use of contemporary ESUs with built-in monopolar and bipolar modes. Longer product life and a higher product cost also contribute to the market’s increased value proportion. The significant growth experienced by hospital outpatient facilities and ambulatory surgical units will also significantly contribute to the growth of electrosurgical generators.
Application Insights
By 2027, the gynecology market will grow at a 5.1% CAGR. Gynecological illnesses are becoming more prevalent worldwide. Increased stress levels, decreased physical activity, and altered eating patterns all have a role in. The growth in the incidence of gynecological disorders. The majority of these disorders are recommend to be treat surgically. As a result, the demand for electrosurgical equipment in gynecological procedures would increase throughout. The projected period, followed by cosmetic surgery.
End Use Insights
In 2020, the market for electrosurgical instruments for hospitals was value at more than 3.5 billion USD. Patients heavily rely on inpatient procedures in underdeveloped and developing nations. In contrast to the growing trend of ambulatory surgical facilities in the industrialized half of the world. Additionally, the segment growth will be aid by the steadily rising number of surgeons. And other skill workers around the globe.
Regional Insights
The market for electrosurgical devices in North America reached more than USD 3.6 billion. In 2020 due to the region’s early adoption of cutting-edge technologies, increased surgery rates, and growing elderly population. The greatest cause of mortality in the United States. For both men and women, is heart disease. As per the Centers for Disease Control and Prevention (CDC). The increase in urologists and gynecologists reflects a significant growth in the prevalence of the corresponding disorders. Thus North America will continue to rule the industry regarding electrosurgical devices in surgical procedures.
Key Players Analysis
Stryker Corporation, Johnson & Johnson Private Limited, AngioDynamics, Inc., B. Braun Melsungen AG, Boston Scientific Corporation, Medtronic Plc, Smith & Nephew, Erbe Elektromedizin GmbH, Olympus Corporation, and CONMED Corporation are notable businesses operating in the market.
