Published Date : 23 Nov 2022
The global Electrosurgical devices market size was exhibited at USD 8.29 billion in 2021 and is expected to hit around USD 12.80 billion by 2030 growing at a compound annual growth rate (CAGR) of 5.5% during the forecast period from 2022 to 2030.
Urology, pneumology, obstetrics, gastrointestinal, abdominal surgery, general surgery, and other medical disciplines all use electrosurgical treatments. Electrosurgical is used in most key surgical procedures, including cutting, coagulation, devitalization, and thermodiffusion, and there is a significant unmet need for minimally invasive surgeries. Electrosurgical’s popularity over traditional surgical techniques can be linked to a number of variables, including reduced patient risk, and convenience of use. Furthermore, because electrosurgical operations may be conducted conveniently in an office setting, the use of electrosurgical equipment is expected to expand significantly during the projection period.
The market is expanding due to rising demand for minimally invasive operations and rising acceptance of technologically improved goods. The global market is predicted to increase quickly as people become more aware of the latest surgical methods in emerging countries.
Electrosurgical Devices Market Report Scope
|Market Size In 2022||USD 8.29 Billion|
|Market Size By 2030||USD 12.80 Billion|
|Growth Rate from 2022 to 2030||CAGR of 5.5%|
|Forecast Period||2022 to 2030|
Based on the product, the electrosurgical generators segment dominated the global Electrosurgical devices market in 2020 with the highest market share. Electrosurgical generators make therapeutic endoscopy easier by providing the high-frequency electrical current that many endoscopic devices require. The technique of converting alternating electrical current produced by electrosurgical generators into heat energy within tissue is known as electrosurgical energy. The technological advancements in the healthcare industry and the growing demand for minimally invasive surgeries (MIS) are likely to be the primary growth drivers for electrosurgical generators.
North America is the largest segment of the Electrosurgical devices market in terms of region. Electrosurgical devices are a widely sought-after commodity in the market due to the growing number of government-funded insurance policies that cover various operations. Furthermore, well-developed healthcare infrastructure, highly sophisticated equipment, qualified practitioners, and government assistance are increasing the demand for electrosurgical devices in the market in these countries. The rising demand for Electrosurgical equipment in these areas is being fueled by an increase in the number of cardiac surgeries performed in these locations.
The Asia-Pacific region is the fastest-growing region in the Electrosurgical devices market. Electrosurgical device demand will rise as the population of the region grows and conditions like cardiac and general ailments and illnesses worsen. Due to the expanding population and increased need for laparoscopic surgery in these areas, Electrosurgical equipment is in high demand on the market. Technology companies invest in emerging countries in order to improve their market share and address the huge demand for Electrosurgical devices in those countries.
Drivers: Rising demand for surgeries
The rising number of surgeries globally is creating a positive outlook for the growth of the market. An increasing number of people with health problems, such as cardiovascular disease, urological and gynecological diseases, and orthopedic illnesses, are resorting to surgical treatments. Because electrosurgical devices are relatively efficient, resulting in less blood loss and a shorter recovery time, they are widely used by surgeons across regional markets, fueling market revenue during the forecast period.
Restraints: Ill effects of Electrosurgical devices
The electrosurgical devices are extremely precise& effective and one of the most noticeable and only drawbacks is the smoke produced. These have been found to be toxic to both the healthcare staff and the patients in the operating room. Furthermore, long-term exposure to surgical smoke can result in non-acute health complications that are difficult to attribute to the surgical smoke. As a result, the ill-effects of Electrosurgical devices restrict the growth of the market during the forecast period.
Opportunities: Rising adoption of electrosurgical devices in the hospitals
The majority of surgeries are reported to be performed in hospitals, so the demand for electrosurgical devices, related instruments, and accessories is significantly higher. As electrosurgical devices are an essential and vital component of a surgical setup, both existing and newly developed hospitals strive to maintain high-quality products. Patients in both underdeveloped and developing countries are known to rely heavily on inpatient surgeries, in contrast to the growing trend of ambulatory surgical units in the developed world. During the forecast period, these are expected to drive the majority of segment revenue. Furthermore, the steadily increasing number of surgeons and other skilled personnel in every part of the world will fuel segment growth.
Challenges: Stringent government regulations
The use of some of the Electrosurgical devices in some countries needs to be approved by the government authorities. The developing and underdeveloped regions don’t have enough resources to implement electrosurgical devices in the hospitals and also lack in a regulatory framework. As a result, the strict government rules and regulations is a huge challenge for the growth of the Electrosurgical devices market during the forecast.
Key Players in the Report
Segments Covered in the Report
By End Use
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