The global electrosurgery devices market is poised to grow at a compound annual growth rate (CAGR) of 5.5% from 2021 to 2030 and to reach valuation US$ 11.43 billion by 2028.
The global electrosurgery devices market is poised to grow at a compound annual growth rate (CAGR) of 5.5% from 2021 to 2030 and to reach valuation US$ 11.43 billion by 2028.
The electrosurgical devices assist in various types of surgeries and surgical operations. The electrosurgical devices used largely are smoke evacuation system, electrosurgical generator, and electrodes. The electrosurgical devices are used and applicable in various surgeries such as neurosurgery, general surgery, cosmetic surgery, gynecology, cardiovascular surgery, urology, and orthopedic surgery. The electrosurgical devices are used in specialized clinics, ambulatory surgical units, and hospitals.
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The global electrosurgical devices market is being driven by the growing number of surgeries. According to World Health Organization (WHO), thousands of surgeries are being performed every year. This increases the acceptance and adoption of electrosurgical devices on a large scale. The surgeries and operations are also growing at a rapid pace due to rising prevalence of diseases such as orthopedic diseases, cardiovascular disorders, gynecological disorders, and urological infections. In addition, the gynecological surgeries are carried out on a large scale. Thus, the adoption of electrosurgical devices by gynecologists is driving the growth of the worldwide electrosurgical devices market during the forecast period.
Furthermore, the key market players are employing variety of strategies for the growth and development of electrosurgical devices market. The new product launch, merger, acquisition, and partnership are some of the marketing strategies adopted by major market players in the electrosurgical devices industry. Moreover, the government of developed and developing regions is taking constant initiatives for the promotion of electrosurgical devices among healthcare sector. All of these factors are boosting the growth of the global electrosurgical devices market during the projected period.
Report Highlights:
- Based on the product, the electrosurgical generatorssegment dominated the global electrosurgical devices market in 2020 with largest market share. The wide application and usage of electrosurgical generators in surgical procedures is driving the growth of the segment.
- On the basis of application, the general surgerysegment holds the largest market share the global electrosurgical devices market in 2020.The application of electrosurgical devices in general surgery is high due to the rising old age people and growing prevalence of chronic disorders such as diabetes and obesity.
- Based on the end use, the hospitals segment dominated the global electrosurgical devices market in 2020 with largest market share. The electrosurgical devices are widely used in hospitals as people prefer to visit hospitals for their surgeries.
- North America is the largest segment for electrosurgical devices market in terms of region. This is attributed to the existence of major market players, technological developments, and the advancement of healthcare sector in the North America region.
- Asia-Pacific region is the fastest growing region in the electrosurgical devices market.The factors such as growing awareness about electrosurgical devices among people, rising disposable income, and urbanization are boosting the growth of the electrosurgical devices market in the region.
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Future of Electrosurgical Devices Market
The use of electrosurgical devices in the healthcare sector is growing due to the rising demand for electrosurgical devices for noninvasive or minimally invasive surgical operations or surgeries. The doctors and healthcare practitioners are adopting electrosurgical devices on a large scale as it involves low risk while operating it on body. The electrosurgical devices are used in different verticals of healthcare industry such as general surgery, urology, gynecology, and many more. The electrosurgical devices have resulted into effective and efficient surgeries. As a result, the future of the electrosurgical devices marketquite good in the upcoming years due to all these aforementioned factors.
COVID-19 Impact Analysis:
- During the COVID-19 pandemic, there was a high risk in performing surgeries or surgical operations.
- The sales of electrosurgical devices were decline due to low adoption of electrosurgical devices in the market due to pandemic.
- The lack of resources hindered the growth of the global electrosurgical devices market in 2020.
- As a result, the impact of coronavirus outbreak on the global electrosurgical devices market was quite negative in nature.
Key Developments in the Marketplace:
- Bolder Surgical launched its CoolSeal Vessel Sealing platform in September 2021. The 3 mm Mini and the 5 mm Trinity Dissector are included in the CoolSeal Vessel Sealing Suite.
- McGan Technology LLC was purchased by Healthmark Industry in July 2021. Healthmark hopes to grow sales of McGan Insulation Testing Devices around the world as a result of this agreement, which will help to minimize electrical shocks caused by faulty surgical equipment.
- Zeus, a portable multi frequency electrosurgical device was launched in the UK by 4T Medical in February 2019. In the domains of vascular surgery, aesthetic medicine, and dentistry, Zeus may conduct both surgical and non-surgical operations.
Segments Covered in the Report
By Product
- Electrosurgical Generator
- Electrodes
- Smoke Evacuation System
- Accessories
By Application
- General Surgery
- Gynecology
- Urology
- Orthopedic Surgery
- Cardiovascular Surgery
- Cosmetic Surgery
- Neurosurgery
By End Use
- Hospitals
- Ambulatory Surgical Units
- Specialized Clinics
By Geography
- North America
- Europe
- Asia-Pacific
- Latin America
- MEA
- Rest of the World
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