Dublin, Sept. 26, 2022 (GLOBE NEWSWIRE) -- A recently published study by Fact.MR expects the global electrosurgery devices market to augment at a 4% CAGR from 2022 to 2032. By the end of the said assessment period, a valuation of US$ 8 Billion is expected for the market. An increase in the number of people suffering from cardiac illnesses and gynaecological problems is spurring the growth of electrosurgery devices across the globe.
From 2017 to 2021, the industry experienced noteworthy growth, registering a value CAGR of 3% and closing at US$ 5.20 Billion. The COVID-19 pandemic emphasized the importance of electrosurgery devices. This is owing to the multiple surgeries’ patients had to undergo in the pandemic period. In addition, research and innovation of devices boosted the growth of the market.
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Increased Frequency of Surgeries Spurring Electrosurgery Devices Adoption
The growing number of diseases such as cardiac illness, gynecological, urological, age correction is growing demand for electrosurgery devices in the market. Besides, an increase in the number of cosmetic surgeries is also spurring adoption of electrosurgery devices.
Several innovations have been introduced recently to lower complication rates and increase accuracy when using monopolar electrosurgical devices. The ease of use of these devices plus the lack of foreign materials left behind after surgeries are increasing the demand for these devices.
Geographically, North America and Asia Pacific are the major contributors to the electrosurgery devices market. This is owing to prevalence of general and cardiac diseases along with the technologically advanced healthcare sector in the region. In the upcoming years, the demand for minimally invasive surgeries is expected to change the dynamics of the electrosurgery industry. This, in turn, is expected to lead to the development of the electrosurgery market.
Key Takeaways from the Market Study
- By, product type, radiofrequency electrosurgery devices are expected to generate over 40% of total market revenue.
- By end user, hospitals are expected to be the major employers of electrosurgery devices, exceeding a revenue share of US$ 3 Billion as of 2022
- By application, gynaecological surgery, a CAGR exceeding 5% has been projected for this segment through 2031.
- Asia Pacific is anticipated to register a positive CAGR of 8% during the forecast period
- North America is expected to possess 50% market share for electrosurgery devices market in the forecast period.
- U.S., Canada and China will flourish at a CAGR of 27% combined until 2032
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Key Segments Profiled in the Electrosurgery Devices Industry Survey
- By Product Type:
- Radiofrequency Electrosurgery Devices
- Electrocautery Devices
- Ultrasonic Electrosurgery Devices
- By End User:
- Hospitals
- Ambulatory Surgical Centers
- Specialized Clinics
- By Application:
- General Surgery
- Cardiac Surgery
- Gynecological Surgery
- Ophthalmology
- Dermatology
- Urology
- Other Applications
- By Region:
- North America
- Latin America
- Europe
- APEJ
- Japan
- Middle East & Africa
Market Competition
Key players in the electrosurgery market are B. Braun Melsungen AG, Stryker Corporation, Smith & Nephew, Boston Scientific Corporation, Medtronic Plc., Erbe Elektromedizin GmbH, Bovie Medical Corporation, Heal Force Bio-meditech Holdings Limited, Johnson & Johnson Private Limited and AngioDynamics Inc.
- Bovie Medical Corporation, a key player, in the electrosurgery devices market is focusing on offering and developing electrosurgical accessories and devices such as bipolar forceps, electrosurgical pencils and pads.
- Medtronic Plc, another key player in the electrosurgery devices is offering customized electrosurgery devices for specific surgeries that make surgical procedure minimally invasive.
Radiofrequency electrosurgery devices are expected to generate over 40% of total market revenue. These devices help reduce the morbidity associated with tonsillar hypertrophy treatment. Growing medical concerns about healing time after surgeries are driving the demand for radiofrequency devices.
Start-Ups for Electrosurgery Devices Market
Key start-up players in the electrosurgery market are OTTek, Dalent Medical, Fasciotens, MMI, EGDe Surgical.
- EGDe Surgical, a key start-up player in the electrosurgery market is focusing on offering electrosurgical devices for orthopedic surgeries. The company’s Ortho EDG device comes with an optimized hook design and consists of a digital display.
- MMI, an Italian start-up, uses wristed micro instruments to carry out surgeries. Moreover, these devices assist surgeons in motion scaling and tremor reduction.
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More Insights Available
Fact.MR, in its new offering, presents an unbiased analysis of the global electrosurgery devices market, presenting historical analysis from 2017 to 2021 and forecast statistics for the period of 2022-2032.
The study reveals essential insights on the basis of Product Type (Radiofrequency Electrosurgery Devices, Electrocautery Devices, Ultrasonic Electrosurgery Devices), End User (Hospitals, Ambulatory Surgical Centers, Specialized Clinics), Application (General Surgery, Cardiac Surgery, Gynecological Surgery, Ophthalmology, Dermatology, Urology, Other Applications) and by Region- 2022 to 2032 across seven major regions (North America, Latin America, Europe, East Asia , South Asia, Oceania and Middle East & Africa)
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