Electrosurgical Generator Global Market Size, Share And Growth Analysis For 2024-2033 | Medtronic PLC, Stryker Corporation, MKS Instruments Inc., CooperSurgical Inc., Megadyne Group

"The Business Research Company recently released a comprehensive report on the Global Electrosurgical Generator Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

According to The Business Research Company's, the electrosurgical generator market size has grown strongly in recent years. It will grow from $1.94 billion in 2023 to $2.12 billion in 2024 at a compound annual growth rate (CAGR) of 8.8%. The growth in the historic period can be attributed to increasing surgical procedures, growth in geriatric population, stringent regulations promoting the adoption of safe and effective electrosurgical devices, increasing aesthetic procedures fueling market expansion, and introduction of advanced electrosurgical generator technologies improving precision and safety.

The electrosurgical generator market size is expected to see strong growth in the next few years. It will grow to $2.99 billion in 2028 at a compound annual growth rate (CAGR) of 9.0%. The growth in the forecast period can be attributed to integration of electrosurgical generators with robotic surgical systems enhancing surgical outcomes, expansion into developing regions with increasing healthcare infrastructure, growth of outpatient facilities driving demand for compact and efficient electrosurgical equipment, demand for cost-effective solutions leading to innovation in electrosurgical generator design, and incorporation of artificial intelligence (AI) and machine learning in electrosurgery for enhanced precision and efficiency. Major trends in the forecast period include adoption of robotic surgery, development of generators with precise energy delivery systems for enhanced surgical outcomes and reduced tissue damage, shift towards minimally invasive surgeries, demand for customizable and portable electrosurgical generators, integration of artificial intelligence (AI) and machine learning algorithms for automated control and optimization of surgical procedures, exploration of telemedicine platforms and remote surgical capabilities driving innovation in electrosurgical generator functionalities.

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Market Drivers and Trends:

The increase in minimally invasive surgeries is expected to propel the growth of the electrosurgical generator market going forward. Minimally invasive surgeries are procedures performed through small incisions using specialized instruments and techniques to minimize tissue damage and promote faster recovery. The rise in minimally invasive surgeries is due to several factors, such as advancements in medical technology, improved surgical techniques, faster patient recovery times, reduced risk of complications, and increased patient demand for less invasive options. Electrosurgical generators are used in minimally invasive surgeries to cut, coagulate, desiccate, or fulgurate tissue with precision, minimizing bleeding and enhancing surgical efficiency. For instance, in March 2024, according to a report published by the American Society of Plastic Surgeons, a US-based association of plastic surgeons, the number of minimally invasive surgeries in the USA was 25.44 million in 2023, an increase of 7% from 2022. Therefore, the rising minimally invasive surgeries will drive the growth of the electrosurgical generator market.

Major companies operating in the electrosurgical generator market are focused on developing innovative solutions, such as faster-ignition electrosurgical generators, to enhance surgical precision and efficiency. Faster-ignition electrosurgical generators are designed for quicker activation and enhanced surgical efficiency. For instance, in June 2023, Olympus Corporation, a Japan-based optics and reprography product manufacturer, launched ESG-410, a next-generation electrosurgical generator tailored for treating bladder cancer and enlarged prostate, boasting several advancements from its predecessor. It features larger capacitors for improved plasma stability during ignition, reducing energy requirements. This enhances efficiency in BPH resections by enabling faster tissue removal through reliable ignition of larger resection loops. The model includes an expanded 8.4-inch LCD touch screen and wireless foot pedals (with wired options also available), offering versatility in treating non-muscle-invasive bladder cancer (NMIBC) and benign prostatic hyperplasia (BPH) with its variety of resection loops band electrodes, vaporization buttons, and needles.

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Major Key Players of the Market:

Medtronic PLC, Johnson & Johnson, Becton, Dickinson and Company, Boston Scientific Corporation, B. Braun SE, Olympus Corporation, Smith & Nephew PLC, Stryker Corporation, MKS Instruments Inc., CooperSurgical Inc., KARL STORZ SE & Co. KG, Consolidated Medical Equipment Inc., KLS Martin SE & Co. KG, Megadyne Group, Applied Medical Resources Corporation, Utah Medical Products Inc., Aspen Surgical Products Inc., Kirwan Surgical Products LLC, Xcellance Medical Technologies Private Limited, Erbe Elektromedizin GmbH, US Medical Innovations LLC

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