The global market was valued at $7 billion in 2021 and is projected to surpass $10 billion by 2028. The market report is a comprehensive study on different market dynamics, including growth factors, restraints, opportunities, and challenges affecting the marketplace. It is a holistic evaluation of the competitive and geographical landscape impacting the market growth.
Electrosurgical Devices Market: Overview
Electrosurgery devices are widely utilized in surgical procedures like general surgery, gynecology surgery, cardiovascular surgery, and others. These devices pass electric current that helps in the thermal destruction of targeted tissues. The electrosurgery devices help in fulgurate, desiccating, coagulating, and cutting the tissues during surgical procedures. These devices are well utilized in association with specialized instruments. These devices form an integral part of surgeries today. Blood coagulation can be done with the help of electrosurgical generators that help in generating radio frequency spark between the surgical site and probe, which is causing damage to the tissue. The high-powered electrosurgical device can help produce desired results. There are different kinds of electrosurgical devices available in the market.
COVID-19 Impact:
The outbreak of the Covid-19 pandemic has significantly impacted the growth trajectory of the global electrosurgical devices market as the government all across the globe have halted the non-essential surgical procedures in the wake of growing Covid cases. However, it has contributed a negative effect on the growth of the global market for the short term, but the market is likely to see growth prospects again in the forthcoming years due to the soaring demand for surgeries, both the new and the ones that were postponed due to the worldwide lockdowns. Furthermore, logistic disruptions caused product shortage which has also impacted global markets severally. However, ease in lockdowns in several parts of the world is likely to increase traction among end-users for electrosurgical devices.
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Electrosurgical Devices Market: Growth Drivers
High inclination towards minimally invasive surgeries will drive the growth of the global market.
The increasing domination of minimally invasive surgeries transformed conventional tools like lasers and surgical blades into electrosurgical devices, which in turn will exponentially boost the growth of the global electrosurgical devices market in the forthcoming years. The high reliability and accuracy are some of the major factors complimenting the growth in the market. The advent of bipolar and monopolar electrosurgical units has further expanded the scope of such devices globally. With time, the number of surgical operations in a different stream of the healthcare system is increasing significantly. Therefore, such electrosurgical devices became an indispensable part of healthcare surgeries. A growing population is facing severe health issues like orthopedic, gynecologist, neurological, and cardiovascular problems, which are likely to resolve only through surgical treatments.
Electrosurgical Devices Market: Restraints
Toxic fumes produced by electrosurgical devices are likely to emerge as a restraining factor in the global market.
Surgical smoke produced by electrosurgical devices is toxic for healthcare staff and patients in the operating room. Inhaling toxic gasses like benzene, hydrogen cyanide, and carbon monoxide can cause serious respiratory issues and eye irritation. Therefore, such a landscape is likely to hamper the growth of the global electrosurgical devices market.
Report Scope:
Electrosurgical Devices Market: Opportunities
Increasing acquisition and product launch initiatives by market leaders are likely to create lucrative growth opportunities in the global market.
Many small-medium companies are undergoing mergers and acquisitions with the giant companies to expand their market base and extract higher revenue from the market. Furthermore, many other organic and inorganic strategies like product launches are observed in the market, which in turn are expected to open several new avenues in the market in the forthcoming years. Additionally, the ongoing technological advancements in the market will further strengthen the demand for electrosurgical devices in the future.
Electrosurgical Devices Market: Challenges
Growing government regulations regarding the approval of surgical devices is a huge challenge in the global market.
The government is becoming strict and more aware of the medical devices used for surgical operations. Increasing restrictions on product approval is a huge challenge for the market players operating in the global market.
Electrosurgical Devices Market: Segmentation
The global electrosurgical devices market can be segmented into application, product, and region.
By type, the market can be segmented into argon & smoke management systems, electrosurgery instruments & accessories, and electrosurgery generators.
By application, the market can be segmented into neurosurgery, cosmetic surgery, cardiovascular surgery, gynecologic surgery, orthopedic surgery, general surgery, and others.
Recent Developments
- Olympus Corporation, in May 2021, announced an acquisition deal of Israeli medical device company Medi-Tate Ltd was finalized.
- Bolder Surgical, in September 2021, launched the CoolSeal Vessel Sealing platform. It includes the 5 mm Trinity Sealer/Divider/Dissector and 3 mm Mini (formerly JustRight Sealer).
Electrosurgical Devices Market: Regional Landscape
North America accounts for the largest share in the global electrosurgical devices market due to the adoption of novel technologies, increasing geriatric population, and highest surgery rates in the region. Additionally, the rising incidence rate of cardiovascular diseases is further likely to complement the growth of the regional market in the forthcoming years. Furthermore, the growing number of healthcare professionals like gynecologists and urologists will increase the demand for such devices in the region.
Electrosurgical Devices Market: Competitive Landscape
Some of the significant players in the global electrosurgical devices market include Smith & Nephew Plc., Olympus Corporation, Medtronic Plc., Johnson & Johnson, Erbe Elektromedizin GmbH, CONMED Corporation, BOWA-electronic GmbH & Co. KG, Bovie Medical Corporation, Boston Scientific Corporation, and B. Braun Melsungen AG.
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Global electrosurgical devices market is segmented as follows:
By Product
- Electrosurgery Generators
- Electrosurgery Instruments & Accessories
- Argon and Smoke Management Systems
By Application
- General Surgery
- Gynecology Surgery
- Urologic Surgery
- Orthopedic Surgery
- Cardiovascular Surgery
- Cosmetic Surgery
- Neurosurgery
By Region
- North America
- The U.S.
- Canada
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
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