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Electrosurgery Devices Market

Electrosurgery Devices Market

Electrosurgery Devices Market By Product Type (Radiofrequency Electrosurgery Devices, Electrocautery Devices, Ultrasonic Electrosurgery Devices), By End User (Hospitals, Ambulatory Surgical Centers, Specialized Clinics), By Application, By Region - Global Market Insights 2022 - 2032

Electrosurgery Devices Market
FACT126MR
  • Sep-2022
  • List of Tables : 236
  • List of Figures : 78
  • 170 Pages
  • Healthcare

Electrosurgery Devices Market Outlook (2022-2032)

The global electrosurgery devices industry reached US$ 5.20 Billion in valuation as of FY 2021. The market is projected to be valued at US$ 5.40 Billion in 2022. Across the 2022-2032 forecast period, the market is scheduled to embark on a positive trajectory, registering a CAGR of 4% to reach US$ 8 Billion.

Report Attribute

Details

Anticipated Base Year Value (2021)

US$ 5.20 Billion

Expected Market Value (2022)

US$ 5.40 Billion

Projected Forecast Value (2032)

US$ 8 Billion

Global Growth Rate (2022-2032)

4% CAGR

Expected Market Share of the North America Market (2032)

50%

Anticipated CAGR of Asia Pacific (2022-2032)

4%

Major Electrosurgery devices Service Providers

  • 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
  • AngioDynamics Inc.

The global demand of electrosurgery devices market was valued at over US$ 8 Billion in 2020. The market is expected to grow 1.5x by 2032, reaching US$ 12 Billion by the end of the forecast period.

Rising prominence of minimally invasive surgeries has led to a shift from conventional cutting tools such as surgical blades and lasers to electrosurgical devices. Their increased levels of accuracy as well as high reliability are some of the factors driving adoption on a large-scale.

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Electrosurgery Devices Revenue Analysis 2017-2021 Vs Future Outlook 2022-2032

According to Fact.MR, a market research and competitive intelligence provider, from 2016 to 2021, the global market for electrosurgery devices has grown at a CAGR of almost 3% to reach US$ 5.20 Billion.

Electrosurgery devices are used in various applications such as general surgery, gynecological surgery, cardiac surgery, ophthalmology surgery, dermatological, urological, and other applications. Technological advancements have increased the efficacy and reduced potential complications with electrosurgery in reproductive surgery.

Furthermore, growing preference for minimally invasive procedure is upholding demand for electrosurgery devices. Based on aforementioned developments, the market for electrosurgery devices is likely to surge at a CAGR of over 4% from 2022 to 2032.

Which are Some Prominent Drivers of Electrosurgery Devices Market?

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.

Electrosurgical Devices Assist in Preventing Blood Loss

Reduced thermal spread and lowering blood loss made this device increasingly popular in the medical field. Increasing demand for electrosurgery devices can be attributed to lowered hemorrhage risk in patients with the use of these devices.

As cardiac surgeries are increasing with each passing day, the demand for surgical operations involving minimum patient discomfort by retaining as much blood as possible is rising, ultimately paving the way for increased deployment of electrosurgical devices.

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What are the Challenges Faced by the Electrosurgery Devices Market?

Exposure to Surgical Smoke an Impediment to Electrosurgery Devices Adoption

Although highly efficient and accurate, electrosurgical devices increased patients and surgeons vulnerability to respiratory issues arising out of smoke generation. Commonly known as surgical smoke, this is often highly toxic upon inhalation. This, in turn, is restraining the adoption of electrosurgery devices.

Surgical smoke is generated when a device increases intracellular temperatures that causes tissues to vaporize. It often contains chemicals such as hydrogen cyanide, perchloroethylene, carbon monoxide and benzene, which are known carcinogens. The American Safety and Health Administration has projected that nearly 500,000 personnel are exposed to electrosurgical smoke annually. Hence, adoption of these devices is expected to remain limited.

Comparative View of Electrosurgery Devices Markets

Electrosurgery Devices Market :

Attributes

Electrosurgery Devices Market

CAGR (2022-2032)

4%

Market Value (2032)

US$ 8 Billion

Growth Factor

Growing prevalence of general and cardiac diseases is increasing the demand for electrosurgery devices.

Opportunity

Increasing launches of technologically advanced devices are creating lucrative opportunities for electrosurgery devices.

Electrosurgery Accessories Market :

Attributes

Electrosurgery Accessories Market

CAGR (2022-2032)

5%

Market Value (2032)

US$ 6 Billion

Growth Factor

Increase in demand for cosmetic surgery along with improving healthcare facilities is driving the growth of the market.

Opportunity

Huge amount of cutting-edge research is opening doors of inventions fueling the growth of electrosurgery accessories.

Monopolar Electrosurgery Market :

Attributes

Monopolar Electrosurgery Market

CAGR (2022-2032)

4.5%

Market Value (2032)

US$ 3.1 Billion

Growth Factor

Government initiatives and development of medical electric devices boosting demand for electrosurgical devices.

Opportunity

Technological and financial pressure has led to government launching health policies. This, in turn, is propelling market growth.

Region-Wise Insights

Increase in Cardiac Operations Bolstering demand for Electrosurgical Devices in North America?

Government-funded insurance policies favoring growth of electrosurgical devices

North America holds the largest market share for electrosurgery devices in the market, accounting for around 50% of total revenue. There is an ever-increasing number of government-funded insurance policies that cover various procedures, which makes electrosurgery devices a highly sought-after product in the market.

Moreover, these regions are driven by well-developed healthcare infrastructure, highly sophisticated equipment, skilled practitioners, and government support is driving demand for electrosurgical devices in the market. An increase in the number of cardiac operations in these regions is contributing to a growing demand for electrosurgery equipment in the region.

Prevalence of General Diseases Positively Influencing Growth of Electrosurgical Diseases in Asia Pacific?

Technological firms investment in electrosurgical devices supporting growth of market

Asia is predicted to grow the fastest during the forecast period. As regional population increases and conditions such as cardiac and general diseases and illnesses worsen, electrosurgery devices demand will also rise. A CAGR of around 4% is projected for the Asian market.

Electrosurgery devices in the market are in demand due to the growing population and increased need for laparoscopic surgery in these regions. Technology firms invest in developing countries to expand their footprint in the marketplace to meet the enormous demand for electrosurgery devices there.

Country-wise Forecast CAGRs for the Electrosurgery devices Industry

Country CAGR

China

7%

India

6%

U.S.

11%

Canada

9%

Category-wise Insights

Growing Concern Related to Healing Increasing Dependency on Radiofrequency Electrosurgery Devices?

Demand for minimally invasive surgeries driving growth of radiofrequency electrosurgery devices

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.

Surgeons increasingly prefer to have minimal infections after surgeries, which is driving the market for high-end radiofrequency devices. Radiation frequencies during surgery are being increasingly used to ensure minimal tissue damage around the surgical site.

Demand for Safe Deliveries Augmenting Need for Electrosurgery Devices?

Gynecologic illnesses contributing to growth of electrosurgery market

A demand for electrosurgery devices in the medical field has been spurred by increasing demand for safe deliveries. The increasing lifestyle changes, dietary habits, inactivity, and depression in women are contributing to a rise in gynaecologic illnesses, where doctors recommend surgery, which is growing the market for electrosurgery devices. Thus, according to Fact.MR, a CAGR exceeding 5% has been projected for this segment through 2031.

Convenience of Treatment Attracting Patients to Hospitals?

Performing generalized surgeries with the help of electrosurgical devices gaining traction for hospitals

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. Hospitals perform bulk of all specialized and general surgeries, hence catapulting demand.

As they constitute an integral part of any surgical setup, electrosurgery devices are experiencing ever-expanding sales across new as well as existing hospitals. Sales are especially robust across the developing regions, as visits to professional healthcare settings for treatment is high.

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 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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Competitive Landscape

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.

A strategic collaboration can increase the revenue and market share of autoclaved aerated concrete. Innovative products and technologies allow manufacturers to enter new markets.

  • In July 2021, Healthmark Industry acquired McGan Technology, LLC. With this acquisition, Healthmark aims to increase its sales of the McGan Insulation Testing Devices globally to prevent electrical shocks as a result of imperfect surgical equipment.
  • On 6 August 2021, Medtronic Plc., a global leader in healthcare technology, acquired Intersect ENT. Medtronic will buy Intersect ENT's outstanding shares at $28.25 each, which refers to an enterprise value of about $1.1 billion. With this acquisition, Medtronic will gain access to a wider variety of products used for ENT procedures.

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 

- FAQs -

Radiofrequency electrosurgery devices are expected to generate over 40% of total market revenue.
From 2022-2032, Fact.MR expects electrosurgery devices revenue to flourish at a 4% CAGR.
In 2032, electrosurgery devices market worth is poised to reach US$ 8 Billion.
Hospitals are expected to be the major employers of electrosurgery devices, exceeding a revenue share of US$ 3 Billion as of 2022.
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.
Fact.MR foresees electrosurgery devices demand to reach US$ 5.40 Billion in 2022.
As of 2021, the electrosurgery devices market was worth US$ 5.20 Billion.

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