Electrosurgical Devices Market is Anticipated To Reach USD 10110 Million By 2029, Witnessing a CAGR of 5.0% | Valuates Reports
BANGALORE, India, March 30, 2023 /PRNewswire/ -- The global Electrosurgical Devices market is segmented by Type - Electrosurgical Instruments & Accessories, Electrosurgery Instruments, Electrosurgery Accessories, by Application - General Surgery, Gynecology Surgery, Urologic Surgery, Orthopedic Surgery, Cardiovascular Surgery, Cosmetic Surgery, Neurosurgery, Others (ENT, Dermatology, and Ophthalmic Surgeries). Global Opportunity Analysis and Industry Forecast 2023-2029. It is published in Valuates Reports under the Medical Devices & Equipment Category.
The global Electrosurgical Devices market was valued at USD 7149.6 million in 2022 and is anticipated to reach USD 10110 million by 2029, witnessing a CAGR of 5.0% during the forecast period 2023-2029.
Major Factors Driving The Growth of The Electrosurgical Devices Market are
The rising prevalence of chronic diseases, the rising demand for minimally invasive procedures, the innovation and technological advancements in electrosurgical instruments, the rising number of hospitals coupled with the rising number of surgical procedures, and the shifting preference in developed regions for outpatient surgeries are the main drivers of this Electrosurgical Devices market growth.
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TRENDS INFLUENCING THE GROWTH OF THE ELECTROSURGICAL DEVICES MARKET
In the last decade, there has been a significant increase in the preference for minimally invasive and non-invasive surgical procedures over traditional surgical procedures. Minimally invasive surgeries offer several benefits over open surgical procedures, such as shorter hospitalization times, reduced postoperative complications, faster recovery times, higher efficacy, and reduced pain. Also, these techniques are less expensive than standard surgical procedures. For the treatment of a number of illnesses, laser, and electrosurgical technologies are increasingly chosen over traditional surgical methods. This factor is expected to drive the growth of the Electrosurgical Devices market.
Laparoscopic surgeries, also known as minimally invasive surgeries, are becoming more and more popular among patients due to a number of benefits, including lower surgical risks, less pain, and blood loss, a lower risk of infection, and a quicker postoperative recovery period resulting in shorter hospital stays and lower costs. Surgery of all kinds, including gynecological, cardiovascular, and aesthetic operations, calls for accuracy and has a deadline. The ease and speed with which such surgeries can be carried out are made possible by electrosurgery tools like generators and active electrodes, which increases demand for them. This factor is expected to drive the growth of the Electrosurgical Devices market.
Also, the governments of developed and emerging nations' increasing healthcare expenditures for the efficient treatment of chronic illnesses are anticipated to promote the Electrosurgical Devices market expansion.
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ELECTROSURGICAL DEVICES MARKET SHARE ANALYSIS
The Electrosurgical Instruments segment is expected to be the most lucrative segment. The high volume of both disposable and reusable electrosurgical equipment usage accounts for a significant proportion of this market.
The general surgery market segment is expected to hold the biggest market share. The market for electrosurgical equipment in general surgery is expanding due to factors such as the aging population, the rise in surgical facilities, and the expansion of the healthcare sector in developing nations.
The largest portion of the global market was accounted for by North America. The key factors driving the growth of the North American market are the rising prevalence of chronic diseases, rising demand for minimally invasive procedures, technological advancements in electrosurgical instruments, rising number of hospitals, clinics, and ambulatory surgical centers, and shifting preference towards outpatient surgeries.
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Market By Region
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East & Africa
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Key players
- B. Braun Melsungen
- Bovie Medical
- Megadyne Medical Products
- CONMED
- Medtronic
- Johnson & Johnson
- ERBE Elektromedizin
- KLS Martin
- Olympus
- Utah Medical Products
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