Global Electrosurgery Market Size, Share & Growth Is Projected to Reach USD 9.8 Billion By 2027 | BlueWeave

A recent study conducted by the strategic consulting and market research firm, BlueWeave Consulting, revealed that the global electrosurgery market was worth USD 6.8 billion in the year 2020. The data yielded further reveals that the market is estimated to grow at the CAGR of 5.5%, earning revenue of around USD 9.8 billion by the end of 2027. The significant shift from traditional surgical procedures to minimally invasive procedures is one of the major factors boosting the demand for electrosurgery all across the globe. Furthermore, the availability of various types of equipment like bipolar or monopolar electrosurgical instruments is also propelling the growth of the global electrosurgery market. However, the high prices of electrosurgery devices and equipment, as well as the huge shortage of skilled healthcare professionals, may hamper the market during the forecast period.

Browse report URL for more information about Global Electrosurgery Market @ https://www.blueweaveconsulting.com/report/global-electrosurgery-market-report

Favorable Regulations Regarding Electrosurgery Product Launches Driving Market Growth

The introduction of new technologies and instruments by market participants is aided by favorable rules or guidelines which act as a catalyst for regulating the use of their products for surgical procedures in healthcare institutions. These guidelines also help the market players receive approvals smoothly without any hindrances. For instance, in 2020, the FDA (Food and Drug Administration) updated the guidelines on the 510(k) submissions for electrosurgical devices. This update addresses the different types of electrosurgical devices that the FDA recommends, as well as a synopsis of the draft document on testing requirements for thermal effects on tissues. These types of updates offer an insight to market players to get quick approvals for their products without much delay.

Flourishing Demand for Bipolar Equipment Propelling the Market Forward

There are various types of electrosurgical devices and instruments available in the market: bipolar and monopolar electrosurgical instruments, patient return electrodes, generators, cords, cables, adapters, and so on. Among all these products, the demand for bipolar electrosurgical instruments is surging at a very rapid rate. These types of instruments do not need dispersive electrodes to function. Because bipolar instruments have a longer life cycle, they are becoming more popular in minimally invasive surgical procedures. As a result, with the growing demand for bipolar equipment, the overall global electrosurgical market is also flourishing.

Browse TOC with Facts and Figures @ https://www.blueweaveconsulting.com/report/global-electrosurgery-market-report/toc

The Gynecology Surgery Segment Projected to Grow at a High CAGR During the Forecast Period

Electrosurgery devices and equipment are used in various surgical procedures such as general surgery, obstetrics/gynecology surgery, orthopedic surgery, cardiovascular surgery, oncological surgery, cosmetic surgery, urological surgery, neurosurgery, etc. Among all these, the gynecology surgery segment is projected to witness the highest CAGR during the forecast period. This is because of the increasing prevalence of gynecological disorders, such as endometrial cancer, uterine cancer, cervical cancer, and so on. According to the World Health Organization, cervical cancer is the fourth most common form of cancer among women. The number of women diagnosed with cervical cancer worldwide rose to 570 000 in 2018 while 311 000 died from it. Furthermore, the changing lifestyle of women has severely affected the functioning of their bodies, which has also proliferated the demand for gynecology surgery, further contributing to the growth of the electrosurgery market.

Global Electrosurgery Market - Regional Insights

Geographically, the global electrosurgery market is segmented into North America, Europe, Asia-Pacific, Latin America, Middle-East & Africa. Among all the regions, North America accounted for the largest market share. However, the Asia-Pacific region is projected to witness the highest CAGR during the forecast period. The governments of emerging economies are taking various initiatives in improving the healthcare infrastructure to boost the economy. For this, they are investing significantly in the adoption of advanced medical technologies into their healthcare facilities, which is a major factor boosting the growth of the electrosurgery market in this region. For instance,

Impact of COVID-19 on Global Electrosurgery Market

The COVID-19-induced pandemic disrupted the overall global electrosurgery market. COVID-19 equipment and gadgets that were deemed "non-essential" were either delayed or produced in restricted quantities. Patients' visits for surgery also decreased dramatically during the initial wave of COVID-19, as healthcare facilities were preoccupied with dealing with the influx of COVID-19 patients. This heavily impacted the global electrosurgery market declining the demand for various electrosurgery devices and instruments. However, as the lockdown restrictions are lifted and all surgical procedures restart, the market is expected to rise quickly in the post-COVID-19 period.

Request For Free Sample Report @ https://www.blueweaveconsulting.com/report/global-electrosurgery-market-report/report-sample

Competitive Landscape

The leading market players in the global electrosurgery market are Zimmer Biomet Holdings, Inc., Medtronic, Kirwan Surgical Products LLC, Olympus Corporation, Coopersurgical, Inc., Ethicon, Inc., Bowa-Electronic GmbH & Co. KG, Conmed Corporation, KLS Martin, B. Braun Melsungen, Applied Medical Resources Corporation, Apyx Medical Corporation, Erbe Elektromedizin GmbH, Boston Scientific, Smith & Nephew PLC, Surgical Holdings, Utah Medical Products, Inc., Meyer-Haake GmbH, Encision Inc., and other prominent players.

The market is extremely dense and highly concentrated due to the presence of several global and regional industry participants. The key market players have been consistently focusing on innovating and advancing their products to gain a competitive edge. They also engage in product approvals and launches to expand their product portfolio so as to cover larger shares in the market. Furthermore, the adoption of competitive strategies like partnerships, mergers, acquisitions, joint ventures, and launches are also very prominent in this market.

Don’t miss the business opportunity of the global electrosurgery market. Consult our analysts to gain crucial insights and facilitate your business growth.

The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of the global electrosurgery market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends of the global electrosurgery market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyses the growth drivers, challenges, and competitive dynamics of the market.

Please find below some related report:

https://www.blueweaveconsulting.com/report/global-veterinary-dental-equipment-market

https://www.blueweaveconsulting.com/report/laparoscopic-instruments-market-report

Contact Us:

BlueWeave Consulting & Research Pvt. Ltd
US: +1 866 658 6826 | +1 425 320 4776
UK: +44 1865 60 0662
Email – info@blueweaveconsulting.com
Linked In Page: https://www.linkedin.com/company/blueweaveconsulting/

112 - H160 - BSI Business Park Sector - 63, Noida U.P. - India

About Us

BlueWeave Consulting provides comprehensive Market Intelligence (MI) Solutions to businesses regarding various products and services online and offline. We offer all-inclusive market research reports by analyzing both qualitative and quantitative data to boost up the performance of your business solutions. BWC has built its reputation from the scratch by delivering quality inputs and nourishing long-lasting relationships with its clients. We are one of the promising digital MI solutions companies providing agile assistance to make your business endeavors successful.

This release was published on openPR.