The global electrosurgical devices market was worth $3.18 billion in 2021 and is expected to be worth $5.25 billion by 2030, representing a CAGR of 5.73% from 2021 to 2030.
Electrosurgery is a surgical procedure involving electrical current and handheld devices to cut and coagulate tissues in the body. The electrosurgical unit consists of a handpiece with electrodes and a generator that uses desiccation to cut and destroy tissues. These devices can also help control bleeding by clotting a patient’s blood. A powerful high-frequency generator connected to electrosurgical devices performs these functions. Electrosurgical devices are used in cardiac, orthopedic, cosmetic and dermatological, gynecological, plastic surgery, ENT, veterinary, maxillofacial, urological, neurological, general surgical, and even dentistry procedures.
Key market drivers
- The increasing number of medical, cosmetic, and age-related surgeries, ambulatory surgery centers, and the rising incidence of chronic and technological advancements are all driving the electrosurgical devices market forward. According to a British Heart Foundation study published in January 2022, there were approximately 7.6 million people in the United Kingdom with heart disease. Because electrosurgery devices are used in cardiovascular surgeries, statistics show that demand for electrosurgical devices will rise due to the high prevalence of chronic diseases.
- Electrocoagulation, electrofulguration, Electrosection, Thermocautery, Electrosurgery dermatological procedures, desiccation electrosurgery, Electrosurgical cutting, and electrosurgery dental restorations are all effective procedures that are propelling the overall market forward.
- Moreover, because the senior population is more prone to long-term diseases such as cardiovascular disease, musculoskeletal disorders, and neurological disorders, the growing geriatric population is expected to significantly impact the market under consideration. According to the World Health Organization’s October 2021 update, the number of people aged 60 and up is expected to rise from 1 billion in 2020 to 1.4 billion by 2030. As a result, because the senior population is more likely to suffer from chronic disorders that require surgery at some point, the growing geriatric population will increase the demand for electrosurgical devices, driving market growth.
The lacks of skilled medical doctors, and the risks associated with electrosurgical procedures, are expected to limit the market growth.
High growth potential in underdeveloped emerging markets is expected to provide hugely profitable growth opportunities for the market. Furthermore, complex advanced equipment with high accuracy and reliability is required for surgical treatments such as spine surgeries, neurological surgeries, cranial surgical procedures, and many others. As a result, these surgeries increase demand and support market growth.
The global electrosurgical devices market is divided into three segments: product, application, and Region.
By product, the electrosurgical devices market is segmented into electrosurgery generators, electrosurgery instruments & accessories, and argon and smoke management systems. The electrosurgery instruments segment is further subdivided into bipolar and monopolarelectrosurgeryinstruments, and electrosurgery accessories are subdivided into patient return electrodes, cords, cables, adapters, and others.
The ‘Electrosurgical instruments and accessories market segment held the largest market share in 2020 and is expected to grow at a CAGR of 5.6 percent during the forecast period.
Based on application, the electrosurgical market is divided into General surgery, gynecology surgery, urologic surgery, orthopedic surgery, cardiovascular surgery, cosmetic surgery, neurosurgery, and others.
The ‘General Surgery’ market segment had the largest market share in 2020. On the other hand, orthopedic and gynecological surgeries are expected to grow at a CAGR of 5.9% and 5.1%, respectively, over the forecast period.
Based on Region, the global electrosurgical devices market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
In 2020, North America had the largest market share for electrosurgical devices, followed by Europe. However, Asia-Pacific is expected to grow the fastest over the forecasted period due to a growing geriatric population, rising disposable incomes, and increased patient awareness of various cancers.
North America’s electrosurgical devices market share was more than USD 3.6 billion in 2020, owing to the early adoption of novel technologies, excellent surgery rates, and an expanding senior population. Heart disease is the major cause of death in the United States, according to the CDCP (Centers for Disease Control and Prevention).
According to the Centers for Disease Control and Prevention, skin cancer is the most common type of cancer in the United States. According to the OECD, American countries’ healthcare systems, particularly those of the United States and Canada, are highly developed, with total expenditures amounting to 17.9% and 11% of GDP, respectively.
As a result of these factors, North America has emerged as the leading market for electrosurgical devices.
Some of the key players in the electrosurgical devices market are:
- Applied Medical Resources
- Medtronic PLC
- B. Braun Melsungen AG
- Olympus Corporation
- Boston Scientific Corporation
- Smith and Nephew