The electrosurgical devices market involves equipment and accessories used for carrying out surgeries using electric current. Electrosurgical devices comprise bipolar electrosurgery devices, monopolar electrosurgery devices, and electrosurgery accessories and generators. These devices use an electric current to cut, coagulate, desiccate, and fulgurate tissue. They offer benefits such as reduced blood loss and less scarring during minimally-invasive surgeries. The increasing preference for minimally invasive surgeries and rising number of surgeries are driving the demand for electrosurgical devices. 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 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. These players are focusing on new product launches and geographic expansion to bolster their market presence.
The rising adoption of minimally invasive surgeries across various medical specialties presents significant growth opportunities in the market. Moreover, the growing healthcare expenditure in developing countries is encouraging international players to expand in emerging markets like Asia Pacific and Latin America.
Rising demand for electrosurgical devices in applications such as cosmetic surgeries is a key factor driving the market growth. According to the American Society for Aesthetic Plastic Surgery, cosmetic procedures grew by about 5% in the US in 2021 compared to 2020. Moreover, increasing investments by market players for advanced product development is also fueling the market growth.
However, risks and complications associated with electrosurgery such as burns at the surgical site are restraining the market to some extent. Moreover, lack of skilled surgeons may also challenge the market growth. High equipment costs pose another challenge for market expansion in price-sensitive developing regions.
Segment Analysis
Electrosurgical devices market is dominated by electrosurgery generators sub segment. Electrosurgery generators are devices that deliver high-frequency alternating current through an active electrode to cut, coagulate, desiccate, and fulgurate tissue. They play a vital role during surgeries by helping to seal blood vessels or cut and remove growths or tumors. Advantages like versatility, precision, efficiency make electrosurgery generators widely adopted by surgeons. They allow surgeons to control the electric current and adjust waveform parameters for various procedures like cutting, coagulation or desiccation. Growing number of surgeries and rising demand for minimally invasive techniques is driving increased uptake of electrosurgery generators.
Global Analysis
North America dominates the electrosurgical devices market with the largest share, followed by Europe. Higher healthcare spending, growing elderly population undergoing various surgeries and presence of many key players in the region contribute to North America's large market size. Within North America, the U.S. holds the major share with approximately 90% market share. Asia Pacific region is forecast to grow at the fastest rate during the forecast period owing to rapidly increasing healthcare infrastructure and healthcare spending in emerging economies of China and India. Growing medical tourism sector in Asian countries is also boosting regional market growth. Low treatment costs and improving accessibility to healthcare services are attracting large numbers of patients from other parts of the world for elective surgeries in Asia Pacific region.
