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Global Electrosurgical Devices Market: Snapshot

The global electrosurgical devices market is rising due to increased demand for effective medical procedures. Increased development in healthcare infrastructure is also leading to the rise in demand for the market. Soaring technological advancements in various parts of the world is fueling the market growth significantly. Immense rise in expenditure for healthcare is also one of the major factors for the rise of the market growth. Electrosurgical devices are used in a number of surgeries such as pneumology, urology, gynecology, abdominal surgery, general surgery, and gastroenterology. The various usage of electrosurgical devices in numerous medical discipline has led to massive rise in demand for the global electrosurgical devices market and it is anticipated to rise at a significant CAGR by the end of forecast period. The high demand for minor surgeries are unmet thus, leading to growth of electrosurgical devices. The global electrosurgical devices market hold huge opportunities due to its applications in various important surgical related procedures. These surgeries include cutting, coagulation, devitalization, and thermofusion. Other benefits provided by the electrosurgical devices are low risk to the patient, faster recovery time, ease of usage, and minimal chances of infection thus, leading to higher adoption of these electrosurgical devices. Multiple health organizations are adopting electrosurgical application over conventional surgical techniques.

electrosurgical devices marketThe global electrosurgical devices market is expected to rise at a healthy CAGR OF 6.7% during the forecast period of 2015 to 2024. The global electrosurgical devices market value was US$4,480.8 mn during 2015 and is expected to attain value of US$7,963.2 mn by the end of forecast period.

Electrosurgical Accessories Segment to Rise Due to Demand for Disposable Accessories

The global electrosurgical devices market by product type is segment into radiofrequency electrosurgery, electrocautery devices, and electrosurgical accessories. Among these, the segment radiofrequency electrosurgery and electrocautery devices are again segmented in to monopolar devices and bipolar devices. The radiofrequency electrosurgery devices was valued at US$923.6 mn during 2015. This segment is expected to rise during the forecast period due to its increased application in dermatological treatment lesions. This segment is expected to witness a rising CAGR of 7% by the end of forecast period.

The electrosurgical accessories device is anticipated to rise as the fastest growing segment during the forecast period with a healthy CAGR of 6.9% during the forecast period of 2016 to 2024. This segment held dominating share of 53% during 2016. This segment is expected to rise in the coming years due to innovations by key players, arrival of new products, and increased disposable accessories.

North America Leading the Market Due to Increasing Geriatric Population

The global electrosurgical devices market is spread across regions such as Asia pacific, Europe, Latin America, North America, and Middle East & Africa. Among these, North America is leading the global market by generating the maximum demand for electrosurgical devices. The rise in consumption from this region is mainly attributed to increased surgical procedures, rise in mergers and acquisitions, product varieties, and easily available products. Moreover, increasing geriatric population, increased obese population suffering from orthopedic and cardiac problems, and increase in cancer diseases is leading to revenue growth of the market in this region. North America is expected to remain as the leading region in the forecast period due increased concentration of medical device manufacturers and extensive investment for research and development.

Asia pacific is anticipated to be the largest growing region with the fastest growth rate in the coming years.

The key players operating in the global electrosurgical devices market are Bovie Medical Corporation, Medtronic, B. Braun Melsungen AG, Ebre Elektromedizin GmbH, Boston Scientific Corporation, Olympus, Johnson & Johnson, Symmetry Surgical Inc., CONMED, KLS Martin, and BOWA-electronic GmbH & Co.KG.

Rising Demand for Minimally Invasive Surgeries to Favor Global Electrosurgical Devices Market

The global electrosurgical devices market is growing due to rising demand for minimally invasive procedures and increased acceptance of technically sophisticated goods. The said market is predicted to expand rapidly as more people become aware of the latest surgical procedures in developing countries.

Electrosurgical techniques are utilized in general surgery, gastrointestinal surgery, gastroenterology, gynecology, pneumology, urology, and various other medical disciplines. Electrosurgery is utilized in most of the critical surgical procedures, including thermofusion, devitalization, coagulation, and cutting, there is a significant unmet need for minimally invasive surgeries. Electrosurgery's popularity over traditional surgical procedures is attributed to several factors, including ease of use, lower infection risk, faster recovery time, and low patient risk. In addition to that, since electrosurgical procedures can be performed easily in an office environment, the use of electrosurgical devices is expected to rise significantly over the forecast period.

Outbreak of Covid-19 to Cause Short-term Disruptions in the Market

Electrosurgical instruments have replaced traditional cutting tools such as lasers and surgical blades as a result of the increasing popularity of minimally invasive surgeries. Some of the factors likely to drive growth of the global electrosurgical devices market include improved levels of precision and high reliability. The advent of monopolar and bipolar electrosurgical units (ESUs) has expanded the range of instruments that can be used. Furthermore, the rising number of surgeries in a variety of healthcare fields is further likely to work in favor of the global electrosurgical devices market in the years to come.

Electrosurgical instruments are also an important part of today's surgeries. That being said, in the aftermath of the COVID-19 disease outbreak, governments all over the world have instructed their healthcare systems to delay non-essential surgical operations.  This is expected to have a short-term effect on the industry. Furthermore, because of the market's increased reliance on the US for both supply and demand, disruptions in logistics could result in product shortages.

Global Electrosurgical Devices Market - Overview

The electrosurgical devices market is driven by growing number of minimal invasive surgeries globally. With the changing face of medical field since the last decade, a larger number of surgical procedures are moving out of the traditional ways and they are replaced by minimally invasive techniques which is driving market of electrosurgical devices globally. Furthermore the rising coverage of healthcare and continuous increase in the geriatric population is expected to be the most vital reason for expansion of the electrosurgical devices market growth. According to WHO estimates, the global geriatric population is likely to reach around 2 billion (22% of global population) by 2050, which was around 524 million in 2010. Geriatric population is prone to several disease such as cancer, cardiac arrest, gastrointestinal diseases etc., due to weak immunity. So, there is a huge need for minimally-invasive surgeries for the treatment of such patients so as to avoid healing time and hospital stay. This factor will increase the use of electrosurgical devices further.

Increasing focus on efficient health care systems in various developed countries is expected to fuel growth of electrosurgical devices and procedures. Rising government funding for research to develop advanced medical treatment and target-specific surgical devices is expected to drive the global electrosurgical devices market. Key players in the electrosurgical devices market are focusing more on development of innovative electrosurgical devices and accessories. Leading market players are focusing on new products and accessories with improved coagulation and cutting properties, multimodality application, and tissue vaporization applications to capitalize the growth opportunities in the market.

Global Electrosurgical Devices Market - Scope of the Report

The report is a combination of primary and secondary research. Primary research formed the bulk of our research efforts, with information collected from telephonic interviews and interactions via e-mail. Secondary research involved study of company websites, annual reports, press releases, stock analysis presentations, and various national and international databases. The report provides market size in terms of US$ Mn for each segment for the period from 2016 to 2024, considering the macro and micro-environmental factors. Growth rates for each segment within the electrosurgical devices market have been determined after a thorough analysis of past trends, demographics, future trends, technological developments, vaccination expenditure, and regulatory requirements.

The market overview section of the report includes qualitative analysis of the overall electrosurgical devices market including the determining factors and market dynamics such as drivers, restraints, market trends and opportunities, along with white space analysis. In addition, market attractiveness analysis by country, isotopic application and end-user along with competitive landscape by key players have been provided which explain the intensity of competition in the market considering different geographical locations. The competitive scenario between market players has been evaluated through market share analysis. These factors would help the market players take strategic decisions in order to strengthen their positions and increase their shares in the global market. Pricing and cost teardown analysis holds a crucial part of the report, which further describes the cost to end-user and cost to patient.

The global electrosurgical devices market is driven by rapid technological advancements and improved quality of patient’s life. The market is projected to grow due to increasing investment in healthcare sector. In terms of end user segment ambulatory surgery center is projected to expand at a high CAGR on the backdrop of growing investment healthcare sector.

Global Electrosurgical Devices Market - Geographical and Competitive Dynamics

Geographically, the global electrosurgical devices market has been segmented into five regions with North America leading the market in 2015 followed by Europe and Asia Pacific. Asia Pacific has the highest growth rate and is expected to overtake Europe in the future. The requirement for electrosurgical devices are rapidly growing in Asia Pacific due to increasing direct and indirect investments by the Government and other private companies. Increasing investments and penetration by key market players globally are expected to drive the electrosurgical devices market during the forecast period.

Key players in this market are as follows Bovie Medical Corporation, Medtronic, B. Braun Melsungen AG, Erbe Elektromedizin GmbH, Boston Scientific Corporation, Olympus, Johnson & Johnson, Symmetry Surgical Inc., CONMED, KLS Martin and BOWA-electronic GmbH & Co. KG.

The electrosurgical devices market has been segmented as follows:

Global Electrosurgical Devices Market, by Product

  • Radiofrequency Electrosurgery Devices
    • Monopolar Devices
    • Bipolar Devices
  • Electrocautery Devices
    • Monopolar Devices
    • Bipolar Devices
  • Electrosurgical Accessories

Global Electrosurgical Devices Market, by Application

  • General Surgery
  • Gynecology
  • Cardiology
  • Urology,
  • Dermatology & Cosmetology
  • Others (Orthopedics, Neurology, Oncology, Dentistry And Gastrointestinal Surgery)

Global Electrosurgical Devices Market, by End User

  • Hospitals
  • Ambulatory Surgical Centers
  • Specialized Clinics

Global Electrosurgical Devices Market, by Geography

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • MEA (Middle East & Africa)

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Electrosurgical Devices Market

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