The electrosurgical devices market provides surgeons with electrosurgical units (ESUs) for cutting and coagulation of biological tissues using heat generated from alternating electric current. Electrosurgical devices are used in different surgical procedures such as laparoscopy, gynecology, urology, orthopedic surgery, dermatology, and general surgery due to improved precision and control over bleeding. The rising demand for minimally invasive surgeries due to advantages like lower risk of surgical site infections, shorter hospital stays, and faster recovery times have boosted the demand for advanced electrosurgical generators and instruments in recent years. The Global electrosurgical devices market is estimated to be valued at US$ 6,892.4 Mn in 2024 and is expected to exhibit a CAGR of 6.8% over the forecast period 2023 to 2030.
Key Takeaways
Key players: Key players operating in the electrosurgical devices market are Bovie Medical Corporation, Medtronic Plc, BOWA-Electronic GmbH & Co. KG, KLS Martin, B. Braun Melsungen AG, Conmed, Olympus Corp., Boston Scientific Corporation, Erbe Elektromedizin GmbH, Symmetry Surgical Inc., Encision Inc., Gala Therapeutics, Inc., Apyx Medical Corporation, and Johnson & Johnson Services, Inc.
Key opportunities: The rising incidence of chronic diseases and growth in the geriatric population are expected to significantly drive the volume of surgical procedures performed which will create lucrative opportunities for players in the electrosurgical devices market. Furthermore, the growing demand for minimally invasive surgeries in ambulatory surgical centers will also open new avenues for market growth over the forecast period.
Technological advancements: Major players are investing heavily in the development of advanced bipolar tissue sealing technology and next-generation electrosurgical generators with advanced modes and presets. This has enhanced safety, control, and efficiency of laparoscopic and open surgical procedures.
Market drivers: The proliferation of ambulatory surgical centers and the rapid transition from traditional surgical approaches to minimally invasive procedures are the major market drivers for electrosurgical devices. Furthermore, the rising geriatric population who are prone to chronic diseases also contributes to the demand for various surgical treatments where electrosurgical devices play a crucial role.
Challenges in the Electrosurgical Devices Market
The electrosurgical devices market faces several challenges. The initial cost of electrosurgical equipment is high, which acts as a barrier, especially for small hospitals and clinics in developing regions. Maintenance and servicing of these medical devices also leads to incremental costs. Stringent regulatory approvals and quality standards set by governing bodies increase the research and development costs for market players. Furthermore, the lack of skilled professionals qualified to operate complex electrosurgical systems poses operational challenges.
SWOT Analysis
Strength: Electrosurgery provides precise cutting and coagulation with minimal blood loss compared to traditional scalpel techniques. This advantage has increased adoption rates.
Weakness: High costs associated with purchase and maintenance of electrosurgical units limits their accessibility.
Opportunity: Expanding healthcare infrastructure and rising surgical volumes in developing countries present market opportunities.
Threats: Stringent regulations around safety and efficacy delays new product launches. Existing surgical staplers pose competition.
Geographical Regions:
North America currently accounts for the largest share of the global electrosurgical devices market, both in terms of value and volume. This is attributed to factors such rising prevalence of chronic diseases, growing geriatric population undergoing various surgical procedures, and well-established healthcare infrastructure and facilities in the region.
The Asia Pacific region is poised to be the fastest growing market for electrosurgical devices during the forecast period. Rapid improvements to healthcare systems, increasing medical tourism, and rising disposable incomes in developing Asian countries are driving the demand for electrosurgical devices in this region. China, India, and other Southeast Asian countries are expected to offer lucrative opportunities for manufacturers.
