Electrosurgical Devices Market Snapshot
|Fastest Growing Market:||Asia Pacific|
|Largest Market:||North America|
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The global Electrosurgical devices market was valued at USD 5,423.71 million in 2021, and it is projected to be worth USD 8,011.39 million by 2027, registering a CAGR of 6.62% from 2022 to 2027.
The COVID-19 pandemic had dramatic effects throughout the world, especially in developing countries and on their healthcare systems, with significant impacts not only on the patients infected with COVID-19 but on others as well. This situation has resulted in the cancellation of surgeries to manage and reserve the resources, and many hospitals were facing a shortage of professionals to assist with these surgeries. For instance, a study published in December 2021 entitled “Trends in US Surgical Procedures and Health Care System Response to Policies Curtailing Elective Surgical Operations During the COVID-19 Pandemic” showed that the overall rate of surgical procedures decreased by 48.0% during the initial shutdown of elective procedures compared to the same period in 2019 in the United States. This decline in surgical procedures led to decreased demand for electrosurgical devices as well.
Further, the electrosurgical devices market is expected to grow due to the factors such as a rise in chronic diseases and geriatric population, increasing demand for minimally invasive procedures, and technological advancements in electrosurgical instruments.
The rise in chronic diseases and the geriatric population is contributing to the market growth. For instance, According to a study published by the British Heart Foundation in January 2022, there were approximately 7.6 million people with heart disease in the United Kingdom. As electrosurgery devices are used in cardiovascular surgeries, the statistics indicate that the demand for electrosurgical devices is increasing with the growing burden and consequences of CVDs. For instance, according to the United Nations’ World Population Prospects for 2020, the number of people over 65 years may increase from 9.3% in 2020 to more than 16% by 2050. As the geriatric population is likely to suffer from chronic disorders requiring surgery at some stages, the increasing geriatric population will boost the demand for electrosurgical devices, thereby driving the market growth.
However, the lack of trained professionals in surgery and stringent regulatory frameworks are the major factors hindering the market growth.
Scope of the Report
As per the scope of the report, electrosurgical devices are instruments and equipment that are used for surgical cutting or controlling bleeding by causing coagulation at the surgical site using an alternating electric current. The electrosurgical devices market is segmented by product (electrosurgical generators, active electrodes, and electrosurgical instruments and accessories), application (neurosurgery, gynecology surgery, cardiovascular surgery, cosmetic surgery, general surgery, orthopedic surgery, and other applications), and geography (North America, Europe, Asia-Pacific, Middle-East and Africa, and South America). The market report also covers the estimated market sizes and trends for 17 different countries across major regions, globally. The report offers the value (in USD million) for the above segments.
Key Market Trends
Neurosurgery Segment Is Expected to hold a Major Share of the Market
By application, the neurosurgery segment is expected to hold a major share of the market. The neurosurgery segment in the electrosurgical devices market is expected to have a positive impact on the growth of the segment, owing to the rising burden of neurological diseases and disorders around the world, leading to the increasing volume of surgical procedures, which may boost the growth in the segment over the forecast period.
For instance, according to the Alzheimer’s Disease International 2021 report, about 55 million people, worldwide, were living with dementia in 2020, and with time, this number is expected to almost double every 20 years, reaching 78 million in 2030 and 139 million in 2050. Electrosurgery devices in neurosurgery are widely used in the removal of meningiomas (a non-cancerous tumor that arises from the membranes surrounding the brain and spinal cord) to the relatively inaccessible meningiomas.
In September 2021, Joimax, the German-based market leader launched its new generation tower, NAVENTO Navigation Endoscopic Tower. Optimized for endoscopic spine surgery with special settings for the safe treatment of sensitive structures.
Owing to these factors, the neurosurgery segment is expected to dominate the market during the forecast period.
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North America Dominates the Market and Expected to do Same over the Forecast Period
In the North American region, the United States is expected to have a significant market share over the forecast period in the electrosurgical devices market. The major factors such as the increasing burden of chronic diseases and geriatric population, increasing demand for minimally invasive procedures, and technological advancements in electrosurgical instruments are expected to fuel the market growth in the United States.
According to the Center for Disease Control and Prevention 2021, cardiovascular disease accounted for nearly 659,000 deaths in the United States every year. That is about 1 of every 4 deaths in the country. According to the Centers for Disease Control and Prevention, skin cancer is the most common form of cancer among people in the United States. Moreover, according to the Centers for Disease Control and Prevention (CDC)’s Article titled ‘Heart Disease Facts’ updated in February 2022; Heart disease is one of the leading causes of death in the United States. The same source also reports that every year about 659,000 Americans have a heart attack. The burden of such diseases is leading to an increase in the number of patients undergoing electrosurgery.
In addition, the launch of products by the key market players is also expected to boost the market’s growth. For instance, in June 2021, Ethicon, part of the Johnson & Johnson Medical Devices Companies, launched the ENSEAL X1 Curved Jaw Tissue Sealer, a new advanced bipolar energy device that increases procedural efficiency and provides stronger sealing and better access to more tissue. The device is indicated for colorectal, gynecological, bariatric surgery, and thoracic procedures. These factors have helped North America to be the largest market for electrosurgical devices.
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The electrosurgical devices market is moderately fragmented. The majority of the electrosurgical devices are being manufactured by the global key players. Market leaders with more funds for research and a better distribution system have established their position in the market. Moreover, Asia-Pacific is witnessing an emergence of some small players due to the rise in the awareness of such medical devices that are safer and more precise. This has helped the Asia-Pacific market grow. Some of the players in the market are Applied Medical Resources Corporation, Bovie Medical, Medtronic PLC, Boston Scientific Corporation, and B.Braun Melsungen AG.
In September 2021, Olympus Corporation launched POWERSEAL 5mm Curved Jaw Tissue Sealer and Divider, which meet the highest standards of clinical performance for advanced bipolar surgical energy devices by delivering consistent sealing reliability in an ergonomic, multifunctional design that promotes procedural efficiency.
In September 2021, Bolder Surgical launched the CoolSeal Vessel Sealing platform. The CoolSeal Vessel Sealing Suite includes the 3 mm Mini (formerly JustRight Sealer) and the 5 mm Trinity Sealer/Divider/Dissector.
Table of Contents
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Rise in Chronic Diseases and Geriatric Population
4.2.2 Increasing Demand for Minimally Invasive Procedures
4.2.3 Technological Advancements in Electrosurgical Instruments
4.3 Market Restraints
4.3.1 Lack of Skilled Professional in Surgery
4.3.2 Stringent Regulatory Frameworks
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value - USD Million)
5.1 By Product
5.1.1 Electrosurgical Generators
5.1.2 Active Electrodes
5.1.3 Electrosurgical Instruments and Accessories
220.127.116.11 Bipolar Instruments
18.104.22.168 Monopolar Instruments
5.2 By Application
5.2.2 Gynecology Surgery
5.2.3 Cardiovascular Surgery
5.2.4 Cosmetic Surgery
5.2.5 General Surgery
5.2.6 Orthopedic Surgery
5.2.7 Other Applications
5.3.1 North America
22.214.171.124 United States
126.96.36.199 United Kingdom
188.8.131.52 Rest of Europe
184.108.40.206 South Korea
220.127.116.11 Rest of Asia-Pacific
5.3.4 Middle East and Africa
18.104.22.168 South Africa
22.214.171.124 Rest of Middle East and Africa
5.3.5 South America
126.96.36.199 Rest of South America
6. COMPETITIVE LANDSCAPE
*List Not Exhaustive
6.1 Company Profiles
6.1.1 Applied Medical Resources Corporation
6.1.2 B. Braun Melsungen AG
6.1.3 Boston Scientific Corporation
6.1.4 Olympus Corporation
6.1.5 Conmed Corporation
6.1.6 Surgical Holding
6.1.7 Johnson & Johnson
6.1.8 Medtronic PLC
6.1.9 Smith & Nephew PLC
6.1.10 Stryker Corporation
6.1.11 Kirwan Surgical Products LLC
6.1.12 Symmetry Surgical Inc.
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
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Frequently Asked Questions
What is the study period of this market?
The Global Electrosurgical Devices Market market is studied from 2019 - 2027.
What is the growth rate of Global Electrosurgical Devices Market?
The Global Electrosurgical Devices Market is growing at a CAGR of 6.62% over the next 5 years.
What is Global Electrosurgical Devices Market size in 2019?
The Global Electrosurgical Devices Market is valued at 5334 Million USD in 2019.
What is Global Electrosurgical Devices Market size in 2027?
The Global Electrosurgical Devices Market is valued at 8011 Million USD in 2027.
Which region has highest growth rate in Global Electrosurgical Devices Market?
Asia Pacific is growing at the highest CAGR over 2021- 2026.
Which region has largest share in Global Electrosurgical Devices Market?
North America holds highest share in 2021.
Who are the key players in Global Electrosurgical Devices Market?
Applied Medical Resources Corporation, Medtronic PLC, B. Braun Melsungen AG, Olympus Corporation, Boston Scientific Corporation are the major companies operating in Global Electrosurgical Devices Market.