CHICAGO, May 20, 2024 /PRNewswire/ -- Electrosurgery
Market in terms of revenue was estimated to be worth
$6.9 billion in 2024 and is poised to
reach $9.4 billion by 2029, growing
at a CAGR of 6.4% from 2024 to 2029 according to a new report by
MarketsandMarkets™.
The market for electrosurgical instruments is experiencing
robust growth, primarily fueled by the rising incidence of chronic
diseases and the escalating demand for minimally invasive
procedures. Furthermore, continuous innovation and technological
advancements in electrosurgical instruments are contributing
significantly to market expansion. However, it's important to note
that there are certain risks associated with electrosurgical
procedures, along with a stringent regulatory framework in place.
Additionally, the shortage of skilled surgeons presents a challenge
and is anticipated to impede market growth during the forecast
period. Despite these constraints, the market remains poised for
considerable advancement, driven by ongoing research and
development efforts aimed at addressing these challenges and
improving patient outcomes.
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Browse in-depth TOC on "Electrosurgery Market"
268 - Tables
60 - Figures
320 -
Pages
Electrosurgery Market Scope:
Report
Coverage
|
Details
|
Market Revenue in
2024
|
$6.9 billion
|
Estimated Value by
2029
|
$9.4 billion
|
Growth Rate
|
Poised to grow at a
CAGR of 6.4%
|
Market Size Available
for
|
2021–2029
|
Forecast
Period
|
2024–2029
|
Forecast
Units
|
Value (USD
Billion)
|
Report
Coverage
|
Revenue Forecast,
Competitive Landscape, Growth Factors, and Trends
|
Segments
Covered
|
By Product, Surgery
Type, End User, and Region
|
Geographies
Covered
|
- North America
-
- Europe
-
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia Pacific
-
- China
- Japan
- India
- Australia
- South Korea
- Rest of APAC
- Latin America
-
- Brazil
- Mexico
- Rest of LATAM
- Middle East & Africa
-
- GCC Countries
- Rest of MEA
|
Report
Highlights
|
Updated financial
information / product portfolio of players
|
Key Market
Opportunities
|
Rising government
funding to develop advanced medical treatments
|
Key Market
Drivers
|
Increasing demand for
minimally invasive surgery
|
"Electrosurgical instruments are projected to experience the
most rapid expansion within the electrosurgery market throughout
the forecast period."
Based on product, the electrosurgery market comprises
electrosurgical generators, electrosurgical instruments,
electrosurgical accessories, and smoke evacuation systems. Among
these, the electrosurgical instruments segment is anticipated to
achieve the most substantial CAGR throughout the forecast period.
Ongoing technological advancements in electrosurgical instruments,
including innovative electrode designs, integrated energy delivery
systems, and ergonomic handpieces, are propelling market growth by
enhancing surgical outcomes and patient safety. These advancements
ensure heightened precision, control, and efficiency during
procedures, resulting in improved patient care. As a result,
electrosurgical technology continues to evolve, driving market
expansion and shaping the future of surgical practices.
"General Surgery segment is projected to experience the most
rapid growth during the forecast period."
Based on surgery type, the electrosurgery market includes
segments such as general surgery, obstetric/gynecological surgery,
urological surgery, orthopedic surgery, cardiovascular surgery,
cosmetic surgery, neurosurgery, oncological surgery, and other
surgical procedures. The increasing prevalence of chronic
diseases like obesity, gastrointestinal disorders, and colorectal
cancer necessitates more general surgical procedures, driving the
demand for electrosurgical devices. These devices offer precision
and control in tissue dissection, hemostasis, and coagulation,
enabling surgeons to address complex conditions effectively. As the
incidence of chronic diseases continues to rise, so does the need
for electrosurgical devices, highlighting their essential role in
modern surgical practice.
"Hospitals, clinics, and ablation centres comprised the
majority share of the electrosurgery market in 2023"
Based on end user type, the electrosurgery market is divided
into hospitals, clinics, and ablation centers; ambulatory surgical
centers; and research laboratories and academic institutes. Among
these, hospitals, clinics, and ablation centers captured the
largest market share in 2023. As the global population ages, the
prevalence of age-related conditions like cardiac arrhythmias and
cancerous tumors increases, driving up demand for electrosurgical
procedures in hospitals, clinics, and ablation centers.
Electrosurgery offers precise, minimally invasive treatment options
for these conditions, aligning with the preferences of an aging
population seeking effective yet less invasive interventions. This
trend is expected to persist as the population continues to age,
highlighting the vital role of electrosurgical procedures in
addressing age-related health challenges.
"Asia Pacific region is
anticipated to experience the most rapid growth throughout the
forecast period".
Segmented by region, the electrosurgery market includes
North America, Europe, Asia
Pacific, Latin America, the
Middle East, and Africa. The Asia
Pacific region is expected to exhibit the highest growth
rate during the forecast period. The Asia
Pacific region's large and growing population drives a
significant demand for healthcare services, including surgical
procedures, fueling the growth of the electrosurgery market. With
an expanding healthcare burden, there's a need for increased access
to medical interventions across the region. Electrosurgery, known
for its versatility and precision, meets this demand effectively,
offering minimally invasive solutions for a variety of surgical
needs. As healthcare awareness rises and economies develop further,
the demand for advanced medical technologies like electrosurgical
devices is expected to continue to grow, contributing to market
expansion and innovation in the region.
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Electrosurgery Market Dynamics:
Drivers:
1. Increasing demand for minimally invasive surgery
Restraints:
1. Risks associated with electrosurgical procedures
Opportunities:
1. Rising government funding to develop advanced medical
treatments
Challenge:
1. Concerns regarding toxic fumes produced during surgical
procedures
Key Market Players of Electrosurgery
Industry:
Key players in this market are adopting several organic and
inorganic growth strategies (such as product launches, agreements,
collaborations, acquisitions, and expansions). Prominent players in
this market include Medtronic plc (Ireland), Johnson & Johnson (Ethicon)
(US), Olympus Corporation (Japan),
B. Braun Melsungen (Germany),
CONMED Corporation (US), Boston Scientific Corporation (US), Smith
and Nephew Plc (UK), Erbe Elektromedizin GmbH (Germany), KLS Martin Group (Germany), BOWA-electronic GmbH & Co. KG
(Germany), The Cooper Companies,
Inc. (US), Kirwan Surgical Products LLC (US), Zimmer Biomet (US),
Utah Medical Products Inc. (US), Encision Inc. (US), Stryker
Corporation (US), Meyer-Haake GmbH Medical Innovations
(Germany), Surgical Holdings (UK),
I. C. Medical, Inc. (US), Aspen Surgical (US), Applied Medical
Resources Corporation (US), Apyx Medical (US), EPMD Group (india)
and Directa Dental Group (US).
A breakdown of the primary participants (supply-side) for the
electrosurgery market referred to for this report is provided
below:
- By Company Type: Tier 1–45%, Tier 2–34%, and Tier 3–21%
- By Designation: C-level–26%, Director Level–30%, and
Others–44%
- By Region: North America–35%, Europe–32%, Asia Pacific–25%,
Latin America- 6%, and
Middle East and Africa– 2%
Recent Developments:
- In April 2024, Integra
LifeSciences Holdings Corporation (US) has acquired Acclarent, Inc.
(US), one of the leading companies in ENT surgical solutions. This
strategic move broadens Integra's product range, enhances market
presence, and unlocks a USD 1 billion
growth opportunity in the ENT device sector.
- In March 2024, Medical Device
Business Services a subsidiary of Johnson & Johnson (US)
collaborated with NVIDIA Corporation (US). This collaboration aims
to enhance real-time analysis and make AI algorithms more widely
accessible in operating rooms at global level. By leveraging AI,
surgeons can make informed decisions, improve education, and foster
collaboration within connected ORs, ultimately enhancing patient
outcomes.
- In November 2023, Erbe
Elektromedizin GmbH (Germany)
launched TriSect rapide tool designed for bipolar coagulation,
division, and sealing of vessels and tissue bundles, as well as
grasping, dissecting, and cutting tissue. Suitable for open,
minimally invasive, and endoscopically assisted procedures across
various medical fields including general visceral surgery,
gynecology, urology, pediatrics, and thoracic surgery.
- In August 2023, Erbe
Elektromedizin GmbH (Germany)
launched HYBRIDknife flex. This innovative device combines
needle-free, high-pressure hydrodissection and novel
electrosurgical waveforms, streamlining procedures. Physicians can
perform all four essential steps of Endoscopic Submucosal
Dissection (ESD) without the need to switch instruments, enhancing
efficiency and precision in gastrointestinal procedures.
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Electrosurgery Market - Key Benefits of Buying the
Report:
This report will enrich established firms as well as new
entrants/smaller firms to gauge the pulse of the market, which, in
turn, would help them garner a greater share of the market. Firms
purchasing the report could use one or a combination of the
below-mentioned strategies to strengthen their positions in the
market.
This report provides insights on:
- Analysis of Market Dynamics: Drivers (growing prevalence of
chronic diseases, increasing demand for minimally invasive
surgeries, innovation and technological advancements in
electrosurgical instruments, increasing number of hospitals coupled
with growing number of surgical procedures, and shifting preference
toward outpatient surgeries in developed regions), restraints
(risks associated with electrosurgical procedures, stringent
regulatory framework, and shortage of surgeons) opportunities
(emerging markets, rising government funding to develop advanced
medical treatments, and expected increase in number of cosmetic and
bariatric procedures due to growing obesity prevalence), and
challenges (concerns regarding toxic fumes produced during surgical
procedures and concerns about electromagnetic interference)
- Services/Innovations: Detailed insights on upcoming
technologies, research & development activities, and new
service launches in the electrosurgery market.
- Market Development: Comprehensive information on the lucrative
emerging markets, components, demographics, end-user, and
region.
- Market Diversification: Exhaustive information about the
product portfolios, growing geographies, recent developments, and
investments in the electrosurgery market.
- Competitive Assessment: In-depth assessment of market shares,
growth strategies, product offerings, and capabilities of the
leading players in the electrosurgery market like Medtronic plc
(Ireland), Johnson & Johnson
(Ethicon) (US), Olympus Corporation (Japan), B. Braun Melsungen (Germany), CONMED Corporation (US) among
others.
Related Reports:
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2029
Medical Robots Market - Global Forecasts to 2029
Veterinary Electrosurgery Market - Global Forecasts
to 2028
Healthcare Simulation Market - Global Forecasts to
2028
Soft Tissue Repair Market - Global Forecasts to
2027
Get access to the latest updates on Electrosurgery
Companies and Electrosurgery Industry Growth
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