Global electrosurgery market is projected to witness a CAGR of 5.49% during the forecast period 2024–2031F, growing from USD 6.11 billion in 2023 to USD 9.36 billion in 2031F.
Electrosurgery is a procedure that uses electrical current and handheld devices to make cuts and coagulate tissues in the body precisely, therefore avoiding the risk of complications or blood loss. There are two types of electrosurgery which are electrocautery and high frequency electrosurgery. Alternating current is used at various voltages, and it is passed through the tissues in body at a high frequency which generates heat. Also to make abdominal incisions, various instruments such as electrosurgical scalpels and forceps are used.
The electrosurgery market is rising due to increased demand for effective surgical solutions. Technological developments and advancements are taking the market to another level. An immense amount of investment and increasing expenditure in the healthcare sector are fueling the market’s growth significantly. The use of electrosurgical devices is wide across different body parts. It is used in almost every type of surgical procedure, such as general, gynecology, urologic, orthopedic, cardiovascular, oncological, cosmetic, and neurosurgery. The plethora of functions that electrosurgery offers has led to a massive rise in demand for electrosurgical devices.
Minimally invasive surgery options have gained traction and are becoming very popular and widely accepted across the population. Its popularity has made it possible for the healthcare giants and government to introduce it to tier-2 and tier-3 cities as well. It is a huge boost for the electrosurgical devices market. Government initiatives and funds have proven to be helpful in the expansion of the market. It is coming along with key players in the market, providing elevated terms of development and research and development. For instance, in a collaboration between Medtronic (Ireland) and DaVita Inc. (the United States) in May 2022, a new and independent kidney care-focused medical devices company was formed by the name NewCo. The company aims to enhance patient treatment experience and improve overall outcomes for a better quality of life.
Rising Demand of Surgical Procedures to Drive the Market Growth
The rise in various chronic and acute diseases is directly proportional to the rise in increasing demand for surgical procedures. As the global population grows and ages, there is a corresponding rise in the number of different diseases. A plethora of medical conditions require to be treated through surgery, and that is a significant driver of the electrosurgery market. For instance, the British Heart Foundation, in a report published in January 2022, notified that waiting lists for heart surgeries are getting longer as time passes. Roughly 284,000 people were waiting for time-critical heart surgeries, which is 22% higher than the number of heart patients before the pandemic. The alarming surge in waiting lists of patients is a direct indicator of how many electrosurgical facilities are required to treat heart diseases which again is an opportunity for the electrosurgery market to grow manifolds. Further, a rise in the geriatric population, which is more prone to different diseases, is anticipated to have a direct positive impact on the expansion of the market. For instance, according to projections made by the World Population Prospectus in 2022, the share of geriatric population will go from 10% in 2022 to 16% in 2050. It again indicates that the rise in population is going to be a driver of the global electrosurgery market demand.
Click here: https://www.marketsandata.com/industry-reports/electrosurgery-market
Increasing Popularity of Minimally Invasive Surgeries
The increasing popularity and adoption of minimally invasive surgical options are a major force driving the expansion of the electrosurgery market. The nature of minimally invasive techniques such as laparoscopy and endoscopy reduce pain because they involve smaller incisions, which reduces trauma around the surrounding tissues. It lowers the risk of complications and shortens recovery time, significantly reducing hospital stays and proving economically beneficial. Electrosurgical instruments enable surgeons to precisely cut tissues and achieve hemostasis more effectively even in areas that are hard to reach inside the body. Coagulation using high-frequency electrical currents reduces blood loss allowing surgeons to achieve better surgical outcomes and improved cosmesis for patients undergoing minimally invasive surgery.
Additionally, electrosurgical devices are very versatile and can be used across various body parts for different kinds of surgeries. Their ability to adapt to various surgical techniques make them an indispensable tool for surgeons who perform these minimally invasive surgeries. Furthermore, apart from being very effective, minimally invasive surgeries prove to be cost-effective and economically beneficial as operation time is reduced, reducing the hospitalization cost and postoperative complications as well. Hence, the electrosurgery market has a great potential to grow as minimally invasive surgeries continue to become more popular and widely accessible to people.
For instance, FV Hospital, a leading brand in the world of cosmetic surgeries, recently stated that minimally invasive surgery is currently the way of beauty. Skin tightening and minimally invasive thread lifts can rejuvenate skin.
Dominance of Neurosurgery in the Global Electrosurgery Market
The neurosurgery segment is anticipated to surge in growth during the studied period, owing to the increasing burden of neurological diseases worldwide. It contributes to the electrosurgery market’s growth and boosts it over the forecast period. Neurosurgery involves the use of various electrosurgery devices for various reasons such as removal of tumors that are anatomically difficult to reach. Removal of tumors is one such procedure that is being carried out more frequently nowadays. For instance, according to an update made by (American Society of Clinical Oncology) ASCO Cancet.net in 2023, meningioma (non-cancerous tumor) is expected to be diagnosed in more than 42,000 people in the United States, accounting for 40% of primary brain tumors. Incidence rates of meningioma increase with age and also rise in population.
Development in technology to deal with the diagnosis of the brain is playing a crucial role in the expansion of the electrosurgery market. Healthcare technology giants are coming together to revolutionize technology monitoring brain activity. For instance, in November 2022, NeuroOne Medical Technologies in an agreement with Zimmer Biomet shipped its first order of Evo sEEG Electrode Technology used for monitoring, recording, and stimulating electrical brain signals that lie at the subsurface level of the brain. Such product launches facilitate the electrosurgery market positively.
North America to Dominate Global Electrosurgery Market Share
North America is anticipated to have a significant market share over the forecast period in the electrosurgical market. Due to the rising burden of chronic diseases and population in North America, demand for minimally invasive surgical options is increasing. North America is experiencing a spike in different diseases which need to be treated surgically. For instance, according to current estimates made by the Heart Failure Society of America in 2024, heart failure affects around 6.5 million Americans over the age of 20. An extensive study projects that 960,000 new cases of heart failure occur each year. Heart failure is a serious condition amongst many people and kills a lot of individuals.
As per the above-mentioned statistics, a surge in heart related diseases is expected to be seen and that is directly related to the prevalence of heart surgeries, thereby increasing the demand for electrosurgical devices in the region. North America, being a hub of healthcare giants that provide the best possible cutting-edge technology, is prone to growth in terms of technological advancements which again is a growth prospect for the market. For instance, Ethicon, a part of Johnson & Johnson Medical Devices recently launched the ENSEAL X1 Curved Jaw Tissue Sealer which offers a wide range of use in gynecological, colorectal, and bariatric surgery.
Future Market Scenario (2024–2031F)
Present chronic disease cases and the anticipation of these diseases multiplying in the forecast period in correspondence to the rising population is a growth factor for the electrosurgery market. Wide adoption and increasing accessibility of advanced minimally invasive surgical options allow the development of electrosurgical devices. Healthcare companies, along with the government, have been coming together to put forth research and development for developing devices that are precision-based but are also versatile in action. It ensures the growth and expansion of the electrosurgery market in future. For instance, Olympus Corporation, the United States, in September 2022, launched THUNDERBEAT which is an Open Fine Jaw Type X device in Japan. It is an electrosurgical device used for open eye surgery and is bipolar and ultrasonic in nature. Within next few months it was commercially launched in Europe, the United States, and South Korea.
Report Scope
“Electrosurgery Market Assessment, Opportunities and Forecast, 2017–2031F”, is a comprehensive report by Markets and Data, providing in-depth analysis and qualitative and quantitative assessment of the current state of the global electrosurgery market, industry dynamics, and challenges. The report includes market size, segmental shares, growth trends, opportunities, and forecast between 2024 and 2031F. Additionally, the report profiles the leading players in the industry mentioning their respective market share, business model, competitive intelligence, etc.
About Us:
Markets and Data provides a comprehensive/ panoramic understanding of markets at global, regional, and country levels. Examine changing consumer preferences, emerging challenges, underlying trends, and growth prospects to accelerate your business strategies.
Contact
Mr. Vivek Gupta
5741 Cleveland street,
Suite 120, VA beach, VA, USA 23462
Tel: +1 (757) 343–3258
Email: info@marketsandata.com
Website: https://www.marketsandata.com