Electrosurgery Market Research 2023 - Growth, Trends, Outlook and Future Scope Analysis 2031 | Olympus Corporation, Coopersurgical, Inc., Ethicon, Inc.

The global electrosurgery market size was at US $6.5 billion in 2020. The global electrosurgery market is forecast to grow at a compound annual growth rate (CAGR) of 5.2% during the forecast period from 2021-2030. The market size will reach US $10.8 billion by 2030.

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An electrosurgical procedure involves passing high-frequency currents through the human body. This type of surgical procedure destroys tissue or coagulates blood vessels using a heated metal wire electrode. Various electrosurgery products or equipment are used during surgery to cut tissue or to prevent bleeding. Its application has expanded to a wide range of surgical specialties since the advent of electrosurgery devices, mainly due to its advantages, including the ability to make precise cuts with minimal blood loss. The market offers a wide range of electrosurgery devices, including electrodes, cords, generators, etc.

Factors Influencing the Growth

The development of easy electrosurgery procedures and numerous applications is a primary factor contributing to the market's growth.
The increasing number of medical, cosmetic, and aging-related surgeries and the increasing adoption rate drive the electrosurgery market.
Increasing electrosurgery's popularity and the rise in electrosurgery procedures over conventional surgical procedures provide opportunities for the electrosurgery market.
The tough competition among market players is one of the main factors obstructing the market's growth of the electrosurgery market in the forecast period.

Impact Analysis of COVID-19

COVID-19 cases have surged across the globe, straining healthcare facilities everywhere. In order to save healthcare personnel and resources for treating patients infected with COVID-19, elective and non-emergency services were halted. There were several surgeries canceled in COVID-19's first wave, including general and orthopedic surgeries. Consequently, the demand for electrosurgical devices and instruments decreased suddenly. Nevertheless, the global electrosurgery market is forecast to flourish in the post-COVID-19 period as all postponed surgeries will proceed, and new surgeries will also happen.

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Regional Analysis

North America commanded the largest share of the global market and is forecast to continue dominating throughout the forecast period. One of the main reasons for the region's dominance is the adoption of technologically advanced medical devices due to the developed healthcare infrastructure. In addition, North America benefits from a large patient pool with accessible healthcare services that propel the demand for electrosurgery devices. Additionally, similar factors are affecting the electrosurgery market in Europe, which accounts for a significant percentage of the market.

Leading Competitors

The leading prominent companies 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.
Other Prominent Players

Scope of the Report

The global electrosurgery market segmentation focuses on Product, Surgery Type, End-User, and Region.

Segmentation based on Product

Electrosurgical Generators
Electrosurgical Instruments
Bipolar Electrosurgical Instruments
Advanced Vessel Sealing instruments
Bipolar Forceps
Monopolar Electrosurgical Instruments
Electrosurgical Pencils
Electrosurgical Electrodes
Suction Coagulators
Monopolar Forceps
Electrosurgical Accessories
Patient Return Electrodes
Cords, Cables, and Adapters
Other Accessories

Segmentation based on Surgery Type

General Surgery
Obstetrics/Gynecology Surgery
Orthopedic Surgery
Cardiovascular Surgery
Oncological Surgery
Cosmetic Surgery
Urological Surgery
Neurosurgery
Others

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Segmentation based on End-User

Hospitals
Clinics
Ablation Centers
Ambulatory Surgical Centers
Research Laboratories
Academic Institutes

Segmentation based on region

North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America

Aim of the Report

This study aims to determine the market size of various segments and countries with forecast values for next ten years.
Within the regions and countries studied, the report covers both qualitative and quantitative aspects of the industry.
It also provides detailed information about the crucial aspects such as drivers & challenges that will influence the market's future growth.
The report will also include investment opportunities in micro markets for stakeholders. In addition, an in-depth analysis of key players' products and the competitive landscape.

What is the goal of the report?

-The market report presents the estimated size of the Healthcare market at the end of the forecast -period.

-The report also examines historical and current market sizes.

-During the forecast period, the report analyzes the growth rate, market size, and market valuation.

-The report presents current trends in the industry and the future potential of the North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa markets.

-The report offers a comprehensive view of the market based on geographic scope, market segmentation, and key player financial performance.

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