Electrosurgical Devices Market is Growing at a CAGR of 5.69%, DelveInsight
The global electrosurgical devices market was valued at USD 6.53 billion in 2021, growing at a CAGR of 5.69% during the forecast period from 2022 to 2027, to reach USD 9.10 billion by 2027. The growing demand for electrosurgical devices is predominantly attributed to the rising prevalence of various chronic diseases leading to an increase in surgical procedures across the globe. In addition, shifting preferences for minimally invasive surgeries, recent product approvals, and technological advancement in the product arena, among others are some of the factors responsible for global electrosurgical market growth during the forecasted period.
Electrosurgical Devices: An Overview
An electrosurgical device is a surgical device used to cut and destroy tissue through desiccation, and control bleeding (hemostasis) by clotting blood. This is achieved using a powerful high-frequency generator that generates a radio frequency (RF) spark between the probe and the surgical site, which causes localized heating and tissue damage. It consists of an electrosurgical generator, a sensor, and forceps. The electrosurgical generator operates in two modes. In monopolar mode, the active electrode focuses the current towards the working field and the scattering (return) electrode directs the current away from the patient. In bipolar mode, both the active and return electrodes are at the surgical site.
Regions Covered in the Report
- Global
Get to know more details of the report- Electrosurgical Devices Market Size
Recent Developmental Activities in the Electrosurgical Devices Market:
- In December 2020, Boston Scientific Corporation got FDA approval for its ORISE ProKnife designed to be used with endoscopes and electrosurgical units to cut tissue within the gastrointestinal tract using high-frequency current.
- In July 2020, Micro-Tech (Nanjing) Co., Ltd. received FDA approval for its single-use electrosurgical knife designed to be used with endoscopes and electrosurgical for dissection, elevation, irrigation, and others.
- In May 2020, Hangzhou AGS MedTech Co., Ltd. received FDA clearance for its electrosurgical system comprising electrosurgical generator with bipolar polypectomy snare combination and single-use electrosurgical knife combination accessories intended to deliver High Frequency (HF) electrical current for the cutting and/or coagulation of tissue.
Key Takeaways from the Electrosurgical Devices Market Report Study
- Market size analysis for current market size (2021), and market forecast for 5 years (2022-2027)
- The effect of the COVID-19 pandemic on this market is significant. To capture and analyze suitable indicators, our experts are closely watching the Electrosurgical Devices market.
- Top key product/services/technology developments, merger, acquisition, partnership, joint venture happened for last 3 years
- Key companies dominating the Global Electrosurgical Devices Market.
- Various opportunities available for the other competitor in the Electrosurgical Devices Market space.
- What are the top-performing segments in 2021? How these segments will perform in 2027.
- Which are the top-performing regions and countries in the current market scenario?
- Which are the regions and countries where companies should have concentrated on opportunities for Electrosurgical Devices market growth in the coming future?
Electrosurgical Devices Market Dynamics
The rise in demand for electrosurgical devices is owing to the growing prevalence of chronic disorders such as cardiovascular disorder, neurological disorder, urological disorders, among others which require surgical intervention as one of their treatment regimens. According to the Global Surgery Foundation 2021 reports, about 30% of the global burden of disease is caused by conditions that can be treated by surgery.
Moreover, the growing number of cosmetic surgeries across the globe could also fuel the demand for electrosurgery devices. This is because electrocautery, a kind of electrosurgery is typically applied in superficial situations encountered by dermatologists, ophthalmologists, plastic surgeons, urologists, and other related specialties. As per the International Society of Aesthetic Plastic Surgery 2019 global statistics, approximately 11,363,569 surgical procedures were performed by plastic surgeons.
COVID-19 Impact on Electrosurgical Devices Market
Additionally, the sudden outbreak of COVID-19 has impacted the global market for electrosurgical devices during the early phases due to the establishment of stringent guidelines by the countries to curb disease transmission. Furthermore, halted elective surgeries, nationwide lockdown, disruption in demand, and supply chain due to restrictions in geographical borders also lead to slow market growth. However, owing to the approval and administration of numerous COVID-19 vaccines worldwide in the second half of 2020, there was a significant improvement in the resumption of activities across various domains including healthcare services and manufacturing facilities, among others, thereby paving the way for a sound period of recovery for the electrosurgical devices market.
Electrosurgical Devices Market Segment Analysis:
Electrosurgical Devices Market By Product Type (Electrosurgical Generators, Electrosurgical Instruments [Electrosurgical Pencils, Electrosurgical Electrodes, Electrosurgical Knife, Electrosurgical Forceps, Suction Coagulators, Others], Electrosurgical Accessories), By Method (Monopolar, Bipolar), By Application (General Surgery, Orthopaedic Surgery, Gynaecology Surgery, Cardiovascular Surgery, Cosmetic Surgery, Neurosurgery, Others), By End-User (Hospitals, Ambulatory Surgical Centres, Others), and By Geography (North America, Europe, Asia-Pacific, and Rest of the World).
In the electrosurgical devices product type segment, the electrosurgical instruments are further sub-segmented into electrosurgical pencils, electrosurgical electrodes, electrosurgical knife, electrosurgical forceps, suction coagulators, and others are projected to hold a significant market share during the forthcoming years. This is owing to the wide availability of the products in the market. Moreover, excessive usage volume of disposable and reusable electrosurgical instruments will also contribute to the segmental growth of electrosurgical devices. Additionally, the introduction of technologically advanced electrosurgical instruments is also a factor associated with the market growth of the segment.
Electrosurgical Devices Market is expected to dominate the North America
Among all the regions, North America is expected to occupy a major share in the overall electrosurgical devices market during the forthcoming years. This domination is due to the growing prevalence of chronic indication in the region, rise in aesthetic surgeries. In addition, the high adoption rate of advanced technology and the presence of skilled professionals are expected to drive market growth during the forecast period.
Further, in the United States, FDA issuance of updated guidance on 510(k) submissions for electrosurgical devices in 2020, advising manufacturers on how to prepare the 510(k) submissions for electrosurgical cutting and coagulation devices and accessories used in general surgery is expected to drive the electrosurgical devices market in the region.
In addition, growing surgical procedures for altering cosmetic appearances in the region are also expected to bolster the electrosurgical devices market. For instance, as per the data published by the International Society of Aesthetic Plastic Surgery in the year 2019, a total of 1,351,917 surgical procedures were done using electrosurgical devices.
Electrosurgical Devices Companies
Some of the key market players operating in the Electrosurgical Devices market include B. Braun Melsungen AG, ConMed Corporation, Olympus Corporation, Apyx Medical Corporation, Smith & Nephew, Medtronic, Johnson & Johnson, Erbe Elektromedizin GmbH, KLS Martin Group, Boston Scientific Corporation, BOWA-electronic GmbH & Co. KG, Modern Medical., Kirwan Surgical Products, LLC., Utah Medical Products, Inc., Hangzhou AGS MedTech Co., Ltd., New Deantronics Taiwan Ltd, Parkell, Inc., Surgical Holdings., Bissinger Medizintechnik, CIMPAX, and others.
Find more information of the market report- Electrosurgical Devices Market Share
Table of Content
1. Electrosurgical Devices Market Report Introduction
2. Electrosurgical Devices Market Executive summary
3. Regulatory and Patent Analysis
4. Electrosurgical Devices Market Key factors analysis
5. Electrosurgical Devices Porter’s Five Forces Analysis
6. COVID-19 Impact Analysis on Electrosurgical Devices Market
7. Electrosurgical Devices Market layout
8. Electrosurgical Devices Global Company Share Analysis – Key 3-5 Companies
9. Electrosurgical Devices Company and Product Profiles
10. KOL Views
11. Project Approach
12. About DelveInsight
13. Disclaimer & Contact Us
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