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Electrosurgery Devices Market

Electrosurgery Devices Market

Electrosurgery Devices Market By Product Type (Radiofrequency, Electrocautery & Ultrasonic Electrosurgery Devices), By End User (Electrosurgery Devices for Hospitals, Ambulatory Surgical Centers & Specialized Clinics), By Application - Regional Forecast to 2021-2031

Electrosurgery Devices Market
FACT126MR
  • Sep-2021
  • List of Tables : 236
  • List of Figures : 78
  • 170 Pages
  • Healthcare

Electrosurgery Devices Market Outlook

The global demand of electrosurgery devices market was valued at over US$ 8 Bn in 2020. The market is expected to grow 1.5x by 2031, reaching US$ 12 Bn 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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Key Points Addressed in Electrosurgery Devices Industry Analysis

  • Market Estimates and Forecasts (2016-2031)
  • Key Drivers and Restraints Shaping Market Growth
  • Segment-wise, Country-wise, and Region-wise Analysis
  • Competition Mapping and Benchmarking
  • Brand Share and Market Share Analysis
  • Key Product Innovations and Regulatory Climate
  • COVID-19 Impact on Electrosurgery Devices and How to Navigate
  • Recommendation on Key Winning Strategies

Electrosurgery Devices Revenue Analysis 2016-2020 Vs Future Outlook 2021-2031

According to Fact.MR, a market research and competitive intelligence provider, from 2016 to 2020, the global market for electrosurgery devices has grown at a CAGR of almost 4% to reach US$ 8 Bn.

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 2021 to 2031.

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How is 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.

How do 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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How is 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.

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.

Country-wise Insights

How is North America Emerging as an Opportunistic Market?

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.    

Why is Asia Seeing a Rise in Electrosurgical Devices Adoption?

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.

Category-wise Insights

Why are Radiofrequency Electrosurgery Devices Highly Sought After?

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.

Why is Gynecology Emerging as the Primary Application Area?

A demand for electrosurgery devices in the medical field has been spurred by increasing demand for safe deliveries. According to Fact.MR, a CAGR exceeding 5% has been projected for this segment through 2031.

The increasing lifestyle changes, dietary habits, inactivity, and depression in women are contributing to a rise in gynecologic illnesses, where doctors recommend surgery, which is growing the market for electrosurgery devices.

How are Hospitals emerging as the Primary End Users of Electrosurgery Devices?

By end user, hospitals are expected to be the major employers of electrosurgery devices, exceeding a revenue share of US$ 3 Bn as of 2020. 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.

Competitive Landscape

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 6th 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.

Report Scope

Attribute

Details

Market size value in 2020

USD 8 Billion

Market forecast value in 2031

USD 12 Billion

Growth Rate

CAGR of 4% from 2021 to 2031

Forecast Period

2021-2031

Historical Data Available for

2016-2020

Market Analysis

US$ Mn for Value & ‘000 Units for Volume

Key Regions Covered

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Oceania
  • Middle East & Africa

Key Countries Covered

  • U.S
  • Canada
  • Brazil
  • Mexico
  • Argentina
  • Germany
  • U.K
  • France
  • Spain
  • Italy
  • Nordics
  • Japan
  • China
  • India
  • ASEAN
  • Australia
  • GCC
  • South Africa
  • Israel
  • Nigeria

Key Market Segments Covered

  • Product Type
  • End User
  • Application
  • Region

Key Companies Profiled

  • 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.

Pricing

Available upon Request

Key Segments Covered

  • Product Type

    • Radiofrequency Electrosurgery Devices
    • Electrocautery Devices
    • Ultrasonic Electrosurgery Devices
  • End User

    • Electrosurgery Devices for Hospitals
    • Electrosurgery Devices for Ambulatory Surgical Centers
    • Electrosurgery Devices for Specialized Clinics
  • Application

    • Electrosurgery Devices for General Surgery
    • Electrosurgery Devices for Cardiac Surgery
    • Electrosurgery Devices for Gynecological Surgery
    • Electrosurgery Devices for Ophthalmology
    • Electrosurgery Devices for Dermatology
    • Electrosurgery Devices for Urology
    • Electrosurgery Devices for Other Applications

- FAQs -

As of 2020, sales of electrosurgery devices surpassed US$ 8 Bn according to Fact.MR

From 2016 to 2020, the global market for electrosurgery devices surged at nearly 4% CAGR

From 2021 to 2031, the global electrosurgery devices industry is poised to expand at over 4% CAGR to reach US$ 12 Bn

The global electrosurgery devices market is likely to expand 1.5x from 2021 to 2031

Preference for minimally invasive surgeries and prevention of blood loss during surgeries is spurring sales of electrosurgery devices

B. Braun Melsungen AG, Stryker Corporation, Smith & Nephew, Boston Scientific Corporation and Medtronic Plc. are the top 5 manufacturers of electrosurgery devices

North America held a value share exceeding US$ 3 Bn in 2020, expected to account for 50% of total revenue

Based on application, gynecology surgeries will account for a substantial portion of electrosurgery devices sales, expanding at over 5% CAGR

Radiofrequency electrosurgery devices are likely to remain most sought after, generating 40% of total revenue

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Is the market research conducted by Fact.MR?

Yes, the report has been compiled by expert analysts of Fact.MR, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.

What research methodology is followed by Fact.MR?

Fact.MR follows a methodology that encompasses the demand-side assessment of the market, and triangulates the same through a supply-side analysis. This methodology is based on the use of standard market structure, methods, and definitions.

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