Electrosurgery Market Expected to USD 9.87 Billion by 2030

The electrosurgery market size was valued at USD 6.52 billion in 2023 and is expected to expand at a compound annual growth rate (CAGR) of 6.1% from 2024 to 2030, reaching a value of approx. USD 9.87 billion by 2030. The major contributors to this growth are the technological innovations and rising inclination towards minimally invasive surgeries.

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By Market Drivers and Opportunity

Increasing number of chronic diseases such as cancer and cardiovascular diseases that require surgical treatment is one of the key driving factors for the electrosurgery market. The unique precision and efficiency provided by electrosurgical devices have made them an indomitable part of modern surgical practices. Recent innovations in electrosurgical technology have resulted in modern, advanced instruments that aid in surgical outcomes while minimizing patient recovery times. In addition, outpatient surgeries and ambulatory care centers provide surgical options that are inexpensive and easy, which would thus accelerate the market growth. Moreover, emerging markets are also expected to be a key area in offering attractive opportunities owing to better healthcare infrastructure and rising healthcare expenditure.

Segmentation Analysis

The electrosurgery market based on product type, surgical application, and end-user.

Electrosurgical Generators, Instrument, Accessories and Smoke evacuation systems. The largest market share in 2023 belongs to electrosurgical instruments, with various types of advanced vessel sealing devices and bipolar forceps. An increased uptake of disposable instruments is expected to be primarily responsible for the dominance of this segment, owing to their ability to combat concerns pertaining to cross-contamination among patients along with cost-effectiveness.

Surgical Usage: Electrosurgical devices are used in general surgery, obstetrics/gynecology, urology, orthopedics, cardiovascular, cosmetic, neurosurgery, and oncology studies. In 2023, general surgery held a significant market share owing to the wide adoption of electrosurgical techniques during the dissection and coagulation of tissue in various procedures, allowing for precision cutting and promoting patient care.

End-User: The key end-users sect consists of hospitals, clinics, ablation centers, ambulatory surgical centers, two types of facilities - research labs and academic institute. In 2023, the majority share of the market was held by hospitals, clinics, and ablation centers, attributable to a growing number of surgical procedures and the increasing adoption of advanced electrosurgical devices for enhanced operational performance and patient safety.

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Country-Level Analysis

USA - The U.S. dominates the North American electrosurgery market due to a strong healthcare infrastructure and favorable reimbursement policies. Growing elderly population base and increasing number of chronic diseases indirectly leads to increased number of surgeries which is expected to drive the demand for electrosurgical devices.

Germany - With its position as a key European market, Germany has invested heavily in its healthcare infrastructure and has a large proportion of hospitals and surgical centres. High-tech healthcare infrastructure and preference for minimally invasive surgical procedures boost the discovery of electrosurgical devices in the country.

China: China is also a rapidly growing market in the Asia Pacific due to the government's investments in healthcare infrastructure and the increase in the medical tourism industry. Also, the growth of this market can be attributed to the growing need for advanced surgical events, consistent development of rehabilitation centers, and the aging population base.

India-The electrosurgery market in India is witnessing the highest growth rate, due to the factors such as increase in medical tourism and adoption of advanced surgical techniques in the country. This is further complemented by the government initiatives aimed at improving the healthcare services and infrastructure.

United Kingdom: The UK market is expected to grow rapidly owing to growing surgical and rising investments in healthcare facilities. The focus on minimally invasive surgeries and growing number of ambulatory surgical centers are the factors boosting the demand for electrosurgical devices.

Competitor Analysis

The electrosurgery market represents a competitive landscape with large players vying for market share via innovation, acquisition as well as collaboration.

Medtronic plc (Ireland)-One of the largest medical technology companies in the world, Medtronic has a diverse portfolio of electrosurgical products. Continual investment in R&D has helped the company offer advanced products which are increasing surgical precision and patient safety.

Johnson & Johnson (Ethicon) (United States): Ethicon is a subsidiary of Johnson & Johnson and is active in the electrosurgery market with surgical instruments.

Olympus Corporation (Japan): Olympus is a leader in medical image and surgical devices. It has a strong market position in electrosurgical products, which are widely adopted across surgical specialties.

B. Braun Melsungen AG (Germany) - B. Braun has one of the most various portfolios of electrosurgical instruments and accessories. Their continued effort to innovate and provide quality has ensured their standing in the worldwide marketplace.

CONMED Corporation(US) - it is a firm engaged in providing surgical devices and equipment, & electrosurgical instruments. With a growing trend in less invasive-focused procedures nationwide, their approach makes sense.

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Conclusion

Electrosurgery Market is experiencing huge growth mainly due to increasing technological advancements, rising number of chronic disease patients, and growing preference for minimally invasive surgical procedures. Market players are focusing on strategic initiatives like merger acquisition and collaboration to enhance their market presence and expand the product portfolio. The global electrosurgical devices market is estimated to grow over the forecast period owing to evolution of healthcare systems across the globe driving its demand for the advanced electrosurgical devices providing the efficient healing.

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