Press release
Technological Advancements Propel Electrosurgical Products Market Toward USD 8.90 Billion by 2024
Electrosurgical Products Market
Electrosurgical products, which include devices that use electrical energy for cutting and coagulation in surgeries, have become essential tools in modern healthcare, especially for procedures that require precision and control. The demand for these products is increasing due to their effectiveness in various surgical fields, including cosmetic surgery, gynecology, and cardiovascular surgery.
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Key Market Drivers
A significant driver of market growth is the increasing use of electrosurgical products in cosmetic surgery. These devices are highly effective in sculpting soft tissues, making them ideal for body contouring and procedures such as liposuction. For more complex surgeries, such as body lifts and abdominoplasty, electrosurgical products allow for precise cutting and coagulation, reducing the risk of complications.
In addition to cosmetic surgery, government investments in healthcare infrastructure are boosting the demand for electrosurgical products. For instance, U.S. healthcare spending is projected to grow by 5.8% annually from 2015 to 2025, contributing to the expansion of hospitals and the adoption of advanced medical devices.
Challenges to Market Growth
Despite the promising outlook, the electrosurgical products market faces some challenges. One major concern is the release of toxic gases during surgery, which can pose health risks to both patients and medical staff. Additionally, the maintenance and operational costs of these devices, as well as the electromagnetic interference (EMI) they generate, could hinder market growth. EMI can disrupt other electronic equipment in the operating room and affect the performance of digital systems.
Manufacturers are working to address these issues by developing products that comply with electromagnetic compatibility (EMC) standards, though these solutions often come with higher development costs.
Product Insights
The market is segmented by product type, with the electrosurgical generator segment accounting for the largest share in 2022. Electrosurgical generators are crucial for powering various surgical instruments and ensuring optimized energy delivery. Modern generators come equipped with cutting-edge digital technology, allowing for precise control and energy efficiency during procedures. They offer multiple operating modes, such as cutting, coagulation, and blend, which surgeons can switch between to meet specific needs.
Advancements in generator design, including better waveform control and improved safety features, are further driving demand for these devices.
Application Insights
Electrosurgical products are used in a wide range of surgical applications, with the gynecology segment expected to experience strong growth in the coming years. Investments in advanced energy devices and the rise of robotic-assisted surgeries are key factors behind this trend. For example, the introduction of new vessel sealers, such as Aesculap's Caiman Maryland jaw vessel sealer, has enhanced the precision and speed of gynecological surgeries, leading to better outcomes for patients.
Robotic-assisted surgeries, which rely heavily on electrosurgical instruments, allow for smaller incisions, reduced trauma, and quicker recovery times. These benefits make them increasingly popular for procedures like robotic hysterectomy and myomectomy.
End-Use Insights
Hospitals are the largest end-users of electrosurgical products, driven by the high volume of surgical procedures performed in these settings. The ability of electrosurgical devices to reduce blood loss and improve procedural efficiency has made them essential in many hospitals. Moreover, the growing use of lasers and electrosurgical technologies for minimally invasive surgeries is contributing to the popularity of these devices in hospital settings.
In addition to hospitals, Ambulatory Surgical Centers (ASCs) are also adopting electrosurgical products for their ability to perform outpatient surgeries with precision and minimal recovery time.
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Electrosurgical Products Top Companies and Competitive Landscape
The global electrosurgical products market is fairly fragmented, with many large and medium-sized players accounting for majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective electrosurgical products.
Some major players included in the global electrosurgical products market report are:
Stryker
Boston Scientific Corporation
Applied Medical Resources Corporation
Johnson & Johnson
KLS Martin Group
Olympus
Conmed Corporation
Medtronic
Kalstein
Erbe Elektromedizin GmbH
Electrosurgical Products Latest Industry Updates
On 26 May 2022, Medtronic plc, which is Dublin Ireland-based leading manufacturer of therapeutic and diagnostic medical products announced a strategic partnership with DaVita Inc. to form a new, independent kidney care-focused medical device company to enhance the patient treatment experience and improve overall outcomes.
According to the terms, NewCo will be co-owned by Medtronic and DaVita, with equal equity shares in each, and will be overseen by an independent management team. Medtronic will contribute its Renal Care Solutions (RCS) business, which includes its existing product portfolio and worldwide manufacturing Research & Development (R&D) teams and facilities.
Electrosurgical Products Market Segmentation Analysis
For the purpose of this report, Emergen Research has segmented the global electrosurgical products market on the basis of product type, application, end-use, and region:
Product Type Outlook (Revenue, USD Billion; 2019-2032)
Electrosurgical Generator
Electrodes
Others
Application Outlook (Revenue, USD Billion; 2019-2032)
Gynecology
Urology
Cardiovascular Surgery
Others
End-Use Outlook (Revenue, USD Billion; 2019-2032)
Hospitals
Ambulatory Surgical Centers (ASCs)
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Regional Outlook (Revenue, USD Billion; 2019-2032)
North America
U.S.
Canada
Mexico
Europe
Germany
France
UK
Italy
Spain
Benelux
Rest of Europe
Asia Pacific
China
India
Japan
South Korea
Rest of APAC
Latin America
Brazil
Rest of LATAM
Middle East & Africa
Saudi Arabia
UAE
South Africa
Turkey
Rest of Middle East & Africa
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