The new report by Expert Market Research titled, ‘Global Electrosurgery Market Share, Report and Forecast 2023-2028’, gives an in-depth analysis of the global electrosurgery market, assessing the market based on its segments like products, surgery types, and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
Electrosurgery Market Size, Trends, Industry Report, Key Player, Major Segments, and Forecast
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The key highlights of the report include:
Market Overview (2018-2028)
• Historical Market Size (2021): USD 6.7 Billion
• Forecast CAGR (2023-2028): 5.4%
• Forecast Market Size (2027): USD 9.2 Billion
The electrosurgery market is being driven by the increasing prevalence of connective tissue diseases such as rheumatoid arthritis and scleroderma. The increasing number of surgeons pioneering the use of modern medical equipment is further propelling the demand for electrosurgical equipment.
Over the forecast period, the rising geriatric population and the susceptibility of tissue damage associated with it is anticipated to boost the market growth. In terms of region, North America accounts for a significant share of the market owing to the advanced healthcare infrastructure in the continent. The strong foothold of major medical equipment manufacturers in the region is anticipated to accelerate the market growth in the coming years.
Electrosurgery Industry Definition and Major Segments
Electrosurgery is defined as a method of surgery in which a wire, heated through alternating current, comes in contact with tissue in order to heat or cut it. In this method, the patient’s body becomes a part of the circuit and current flows through it. An electrosurgical generator is a crucial component of the electrosurgery as it is the source of the electron flow and voltage. This method is used to destroy malignant lesions and excise tissues.
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On the basis of product, the market can be bifurcated into:
- Electrosurgical Instruments
- Bipolar Instruments
- Monopolar Instruments
• Electrosurgical Generators
• Electrosurgical Accessories
• Argon and Smoke Management Systems
The market can be segmented based on surgery type into:
• General Surgery
• Gynaecology Surgery
• Orthopaedic Surgery
• Cardiovascular Surgery
• Oncological Surgery
• Cosmetic Surgery
• Urological Surgery
• Neurological Surgery
The regional markets for electrosurgery include:
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
Electrosurgery Market Trends
The key trends in the electrosurgery market include the rapid digitalisation in the healthcare expenditure, increasing government expenditure aimed towards bolstering the standards of healthcare, and robust development of hospitals and ambulatory surgical centres. The growing R&D activities by the major market players to develop hybrid energy electrosurgery systems for minimally invasive treatment are anticipated to be the crucial trends in the market.
Moreover, the increasing production of advanced and efficient electrosurgery generators is likely to provide further impetus to the market in the forecast period. Hence, these developments are anticipated to augment the electrosurgery market in the coming years.
Key Market Players
The major players in the market are:
- Medtronic Plc
- Olympus Corporation
- B. Braun Melsungen AG
- Conmed Corporation
- Apyx Medical Corporation
- BOWA-electronic GmbH & Co. KG
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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