Electrosurgery Market Was Valued at USD 5,641.7 Million in 2021, The Growing Prevalence of Chronic Diseases, Increasing Demand For Minimally Invasive Procedures.

According to Precision Business Insights (PBI), the latest report the global electrosurgery market is expected to be worth USD 5,641.7 million in 2022 and projected to grow at a 4.5% CAGR over 2022 to 2028. One of the key causes driving market value growth is the increasing incidence of acute and chronic ailments and infections worldwide. According to a 2021 Centers for Disease Control and Prevention study, 6 out of 10 adult Americans suffer from chronic illnesses, and four out of every ten have two or more chronic diseases. Moreover, Rising R&D spending on medical instruments and technologies will generate more profitable market growth prospects, particularly in established and developing nations. Research and development capabilities relating to technical developments in electrosurgical tools to make them safer and more effective fueling the market growth rate.

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The Neurosurgery Segment is Dominating the Electrosurgery Market:
Based on surgery the market is segmented into General Surgery, Obstetric/Gynecological Surgery, Orthopedic Surgery, Cardiovascular Surgery, Oncological Surgery, Cosmetic Surgery, Urological Surgery, Neurosurgery, and Other Surgeries. The Neurosurgery segment is anticipated to grow at a significant CAGR over the forecast years owing to the expanding global incidence of neurological diseases and disorders; surgical operations are increasing, which may increase sector growth throughout the projection period. According to the Alzheimer's Disease International 2021 study, around 55 million individuals worldwide will have dementia in 2020, and this figure is anticipated to nearly double every 20 years, reaching 78 million in 2030 and 139 million in 2050. Electrosurgery devices in neurosurgery are commonly utilized in the excision of relatively inaccessible meningiomas (a non-cancerous tumor that develops from the membranes surrounding the brain and spinal cord).

North America Leads Electrosurgery Market:
North America is expected to hold significant market share in the global Electrosurgery market and is projected to grow at a prominent growth rate over the forecast years. The United States is North America's largest market for electrosurgery, and this is due to the country having the most cosmetic operations, with 1.4 million surgical and 2.6 million non-surgical procedures. According to the International Society of Aesthetic Plastic Surgery (ISAPS), the country has the most active plastic surgeons in the world, with 6,500, followed by Brazil, with 5,500, and China, with 2,800. As a result, the market for electrosurgery in North America is expanding. Other reasons driving expansion in the region include rising obesity, provisions of the Affordable Care Act that allow favorable payment for the use of electro-surgical, and an aging population that is more vulnerable to chronic illnesses due to weakened immune systems.

Strategic New Product Launches, Mergers, Acquisitions and Agreements are the key strategies adopted by market players:
Global Electrosurgery market further reveals that the key players increasingly adopting strategies:such as launch of newer products, product launches, and long-term alliance to improve market revenue share and gaining significant geographic presence across the region. For instance, In February 2019, PENTAX Medical added two new specialized electrosurgical and argon plasma coagulation (APC) systems to its therapeutic accessories line: the ENDO ARC and ENDO PLUS.

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The electrosurgery market is segmented based on type, basis on by product, by surgery end user and geography
By Product
o Electrosurgical Instruments
o Electrosurgical Generators
o Electrosurgical Accessories
o Smoke Evacuation Systems

By Surgery
o General Surgery
o Obstetric/Gynecological Surgery
o Orthopedic Surgery
o Cardiovascular Surgery
o Oncological Surgery
o Cosmetic Surgery
o Urological Surgery
o NeuroSurgery
o Other Surgeries

By End User
o Hospitals, Clinics, and Ablation Centers
o Ambulatory Surgical Centers
o Research Laboratories and Academic Institutes

By Geography
o North America
o Europe
o Asia-Pacific
o Latin America
o Middle East and Africa (MEA)

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Key player's profiles in the electrosurgery market report are Boston Scientific, Smith and Nephew, B. Braun Melsungen AG, Parkell Inc., Covidien plc, Kirwan Surgical Products LLC

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