Electrosurgical/Electrosurgery Devices Market Size is Expected to Reach USD 8.17 Billion by 2028

The global electrosurgical/electrosurgery devices market size is expected to reach USD 8.17 Billion in 2028 and register a CAGR of 6.6%, according to the latest report by Reports and Data. Key factors such as technological developments in electrosurgical devices, large geriatric population, and increasing demand for reusable and disposable electrosurgical instruments are driving global market revenue growth.

Electrosurgery is a procedure that converts high-frequency alternating current into heat energy and is widely used in various medical surgeries to incise tissue, destroy abnormal skin growth and control bleeding. Electrosurgery has been gaining popularity in recent years due to availability of advanced electrosurgical devices and increasing demand for minimally invasive procedures. Rapidly expanding global population and increasing occurrence of various cardiovascular, gynecological, neurological disorders along with orthopedic illnesses are factors augmenting demand for electrosurgical/electrosurgery devices. In addition, increasing investments in the healthcare sector and rising funds for medical instruments by government and private organizations, improvements in healthcare infrastructure, high healthcare expenditure and rising disposable income are key factors boosting global market revenue growth. Moreover, increasing adoption of electrosurgical devices in hospitals, and rising focus of manufacturers to develop advanced coronary electrosurgical generators is expected to boost market growth in the coming years.

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The pharma and healthcare industry is expected to observe significant growth over the coming years attributed to the increasing incidence of chronic diseases across the globe, growing geriatric patient pool, availability of advanced and minimally invasive surgical and diagnostics procedures, favorable reimbursement scenario, and presence of a robust product pipeline of drugs and therapeutics. In addition, the growing integration of IoT, ML, and AI in medical procedures and equipment along with rapid progress in drug design and development. A combination of innovation and technology has brought about massive changes in the healthcare industry and the rapid adoption of telemedicine, remote consultation, and e-prescription has significantly contributed to the revenue growth of the market.

Some key highlights in the report:

Based on products, the electrosurgical instruments accounted for largest revenue share throughout the forecast period. High revenue growth is attributed to factors such as availability of technologically advanced electrosurgical devices, high demand for reusable and disposable electrosurgical devices rising prevalence of cardiovascular, gynecological, neurological disorders, and rapid increase in the cosmetic and plastic surgeries

Among the surgery type, the cosmetic surgeries segment is expected to register rapid revenue growth between 2021 and 2028 owing to factors such as increasing awareness about minimally invasive surgeries, improvements in standard of living, and high emphasis on physical appearance.

Based on end use, the hospital segment is expected to account for significantly large revenue share during the forecast period. Increasing prevalence of various chronic diseases, improvements in the healthcare infrastructure, rising number of surgical procedures, and increasing demand for minimally invasive surgeries are key factors boosting segment revenue growth.

The electrosurgical/electrosurgery market in North America is expected to account for largest revenue share throughout the forecast period. Factors such as well-established healthcare facilities, availability of advanced electrosurgical instruments and highly skilled healthcare professionals, and presence of key players are fueling market growth in North America.

Asia Pacific market is expected to register fastest revenue growth over the forecast period owing to factors such as increasing prevalence of chronic disorders, large geriatric population, improving healthcare systems and infrastructure, high demand for and increasing awareness about minimally invasive surgical methods.

Research Methodology:

Reports and Data utilizes a unique approach to research to offer a comprehensive overview of the global Electrosurgical/Electrosurgery Devices Market to offer insights into investment
opportunities for stakeholders, investors, clients, and businesses to make informed decisions. The report includes SWOT analysis, Porter's Five Forces analysis, feasibility analysis, and investment return analysis to offer a better understanding of the market scenario.

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Asia Pacific is expected to lead the market growth over the coming years owing to rapid advancements in the healthcare sector in APAC countries such as India, China, and Japan. North America is anticipated to register the highest market growth over the forecast period attributed to the increasing availability of robust healthcare and clinical settings, legalization of medical marijuana, favorable reimbursement scenario, presence of key market players, and rapid technological advancements in the region.

The growing popularity of over-the-counter medications driving market growth

Growing incidence of acute and chronic diseases and lesser access to advanced medical facilities owing to low disposable income levels are driving the demand for over-the-counter medications. Availability of generic and low-cost alternatives to medical therapies are some other factors playing a major role in driving demand for over-the-counter medications.

Restriction on product launches and R&D activities to hamper the market growth

The imposition of strict government regulations and shortage of funds has put a halt on product launches and R&D activities and is expected to restrain market growth over the forecast period. In addition, the launch of expensive drugs and therapies and increasing regulations regarding safety and approvals are also hampering the market growth.

Competitive Landscape:

The global market comprises various market players operating at regional and global levels. These key players are adopting various strategies such as R&D investments, license agreements, partnerships, mergers and acquisitions, collaborations, and joint ventures to gain a robust footing in the market.

Top Companies Profiled in the Report:

Olympus Corporation, Covidien, Parkell, Smith & Nephew, Ethicon, Boston Scientific, B. Braun Melsungen, Kirwan Surgical Products, Bovie Medical Corporation, and ATMOS.

Electrosurgical/Electrosurgery Devices Market Segmentation:

Product Type Outlook (Revenue, USD Million; 2017-2028)

Electrosurgery Generators
Electrosurgery Instruments & Accessories
Electrosurgery Instruments
Bipolar Instruments
Advanced Vessel Sealing Instruments
Bipolar Forceps
Monopolar Instruments
Electrosurgery Pencils
Electrosurgery Electrodes
Suction Coagulators
Monopolar Forceps
Electrosurgery Accessories
Patient Return Electrodes or Dispersive Electrodes
Cords, Cables, and Adapters
Others

Argon and Smoke Management Systems
Surgery Type Outlook (Revenue, USD Million; 2017-2028)

Gynecology
General surgery
Gastroenterology
Urology
Cardiovascular surgery
Cosmetic surgery
Orthopedic surgery
Neurosurgery

End-Use Outlook (Revenue, USD Million; 2017-2028)

Hospital
Ambulatory Surgical Centers
Specialized Clinics
Others
Regional Outlook:

North America (U.S., Canada, Mexico)
Europe (Germany, U.K., Italy, France, BENELUX, Rest of Europe)
Asia Pacific (China, India, Japan, South Korea, Rest of Asia Pacific)
Latin America (Brazil, Rest of LATAM)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of the Middle East & Africa)

Frequently asked questions addressed in the report:

What is the revenue growth rate of the global Electrosurgical/Electrosurgery Devices market over the forecast period?
What are the major factors driving the growth of the Global Electrosurgical/Electrosurgery Devices Market?
What are the key challenges impacting the global Electrosurgical/Electrosurgery Devices market growth?
What are the outcomes of the SWOT Analysis and Porter's Five Forces Analysis conducted in the report?
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