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Surgical Energy Instruments Global Market Size, Share, Growth Factors, Competitive Landscape, with Regional Forecast to 2033 | Medtronic Plc, Stryker Corporation, Grena Ltd., Aesculap AG, KLS Martin Group
Surgical Energy Instruments Market
According to The Business Research Company's, the surgical energy instruments market size has grown rapidly in recent years. It will grow from $4.19 billion in 2023 to $4.68 billion in 2024 at a compound annual growth rate (CAGR) of 11.7%. The growth in the historic period can be attributed to increasing surgical procedures, an aging population, healthcare infrastructure development, the regulatory environment, healthcare expenditures, and market consolidation.
The surgical energy instruments market size is expected to see rapid growth in the next few years. It will grow to $7.31 billion in 2028 at a compound annual growth rate (CAGR) of 11.8%. The growth in the forecast period can be attributed to minimally invasive techniques, emerging market expansion, patient safety focus, integration of robotics, smart technology integration, and sustainability initiatives. Major trends in the forecast period include wireless power transmission, AI and machine learning, energy-efficient devices, customized energy profiles, smart sensors, enhanced safety features, and bioelectronic medicine.
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Market Drivers and Trends:
An increase in demand for elective cosmetic and reconstructive surgeries is expected to propel the growth of the surgical energy instrument market going forward. Elective cosmetic and reconstructive surgeries refer to non-emergency procedures chosen by patients to enhance their appearance or correct physical defects. The increase in demand for elective cosmetic and reconstructive surgeries is driven by societal acceptance and emphasis on appearance, advancements in surgical techniques making procedures safer and more effective, and growing disposable incomes allowing more individuals to afford such treatments. Surgical energy instruments, including electrosurgical units and lasers, are essential in cosmetic and reconstructive surgeries for their precision in tissue cutting, coagulation for controlling bleeding, and tissue reshaping capabilities, facilitating safer procedures and enhanced patient outcomes. For instance, in March 2023, according to the British Association of Aesthetic Plastic Surgeons, a UK-based organization responsible for safety and education in cosmetic surgery, there was a significant increase in cosmetic procedures performed in 2022. The data indicated that 31,057 cosmetic procedures took place in 2022 in the UK, marking a notable 102% increase from the previous year. Therefore, an increasing number of elective cosmetic and reconstructive surgeries is driving the surgical energy instrument market.
Major companies operating in the surgical energy instruments market are focusing on developing innovative surgical platforms, such as ultrasonic dissection and hybrid energy technologies, to enhance surgical precision and improve overall efficiency. Ultrasonic dissection utilizes high-frequency vibrations for precise tissue cutting and hemostasis, while hybrid energy devices integrate multiple energy sources to optimize surgical efficiency and tissue management. For instance, in January 2024, Olympus Corporation, a Japan-based medical technology company, launched the ESG-410 Surgical Energy Platform. This advanced energy platform supports conventional monopolar and bipolar applications and has been upgraded to include ultrasonic dissection and hybrid energy capabilities. The ESG-410 is versatile and suitable for various specialties such as general surgery, thoracic surgery, urology, and gynecology. The platform features multiple ports for diverse surgical needs, making it the first generator to support five common energy modes in operating rooms such as monopolar, bipolar, advanced bipolar, ultrasound, and hybrid energy.
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Major Key Players of the Market:
Johnson And Johnson Pvt Ltd, Medtronic Plc, Stryker Corporation, Boston Scientific Corporation, B. Braun Melsungen AG, Zimmer Biomet Holdings Inc., Olympus Corporation, Intuitive Surgical Inc., Smith And Nephew Plc, CooperSurgical Inc., Karl Storz Endoscopy-America Inc., ConMed Corporation, Grena Ltd., Aesculap AG , KLS Martin Group, Richard Wolf GmbH, EKF Diagnostics Holdings plc, Symmetry Surgical Inc., Bovie Medical Corporation, LiNA Medical USA, Erbe Elektromedizin GmbH, Megadyne Medical Products Inc., BOWA-electronic GmbH & Co. KG, Elmed Medical Systems Ltd., Encision Inc
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