Pune, India, May 2022/MRFR Press Release/- Market Research Future has published its half-cooked research report on the global electrosurgery market.
Electrosurgery Market Highlights
According to MRFR analysis, the global electrosurgery market is expected to register a CAGR of 6.2% from 2022 to 2030 and hold a value of over USD 9.68 billion by 2030.
As per the practitioners, the demand for electrosurgery has been increasing in the past two decades. This is owing to the replacement of expensive laser systems because of their wide range of applications in superficial ablation, deep ablation, and tissue incision with immediate hemostasis. It is commonly used in both minimally invasive surgery and open surgery. The market has been driven by several factors, such as increasing demand for minimally invasive surgery and an increase in the number of surgical procedures. Moreover, the growth stratagems of major market players, including Johnson & Johnson Services, Inc. (US), Olympus Corporation (US), CONMED Corporation (US), Symmetry Surgical, Inc. (US), and Zimmer Biomet (US) providing lucrative opportunities. For instance, in March 2018, Zimmer Biomet (US) launched a product, namely the Intellicart System. This product is a portable smoke evacuation that is simple and convenient to use.
The North America market is projected to register the highest share during the forecast period, owing to factors such as increasing demand for minimally invasive surgeries, technological advancements in electrosurgical instruments, and the increasing prevalence of chronic illnesses. As per the Centers for Disease Control and Prevention (CDC), the highly prevalent chronic illnesses that might create the need for surgeries further fuel the region's growth. The highly prevalent chronic illnesses include heart disease, cancer, chronic lung disease, stroke, diabetes, and chronic kidney diseases.
The Europe market is expected to show significant growth during the forecast period owing to high demand for electrosurgical devices and the availability of skilled professionals. As per the research, the requirement for innovative and customized electrosurgical devices has been increasing. This is owing to the high adoption of electrosurgical devices for all types of surgeries.
The Asia-Pacific electrosurgical market is expected to have the fastest revenue growth owing to the rise in the number of cosmetic surgeries and the geriatric population. In 2020, according to the World Economic Forum, China, India, and Japan had the oldest populations. Furthermore, it has been estimated that by 2050, one in four aged people will be living in the Asia-Pacific region.
Furthermore, in Rest of the World, the market is projected to show sluggish growth because of the developing medical facilities and the presence of poor economies with low disposable income. However, increasing chronic illnesses owing to sedentary lifestyles and physical inactivity due to a lack of awareness further fuels the region's market growth.
Explore In-depth Details: Electrosurgery Market Research Report
The global electrosurgery market has been segmented into product type, application, and end user.
Based on product type, the market has been segmented into electrosurgical generators, smoke evacuation systems, and electrosurgical accessories. Electrosurgical generators are expected to have the highest market share during the forecast period owing to factors such as rising demand for minimally invasive surgeries and the availability of advanced electrosurgical generators.
Based on application, the market has been segmented into general surgery, obstetric/gynecological surgery, orthopedic surgery, cardiovascular surgery, oncological surgery, cosmetic surgery, urological surgery, neurological surgery, others. The general surgery is projected to hold the highest share in 2021 due to having advantages such as minimal lateral damage to surrounding structures and good post-operative results.
On the basis of end users, the market has been segmented into hospitals & clinics, specialty centers , ambulatory surgical centers, and research laboratories and academic institutes. Hospitals & clinics are expected to have the largest market share in 2021, owing to an increasing preference for minimally invasive surgeries (MIS) and a geriatric population.
Some of the key market players are Johnson & Johnson Services, Inc. (US), Medtronic plc (Ireland), Olympus Corporation (Japan), Stryker Corporation (US), Boston Scientific (US), Smith & Nephew Plc (UK), Erbe Elektromedizin GmbH (Germany), Zimmer Biomet Holdings, Inc. (US), Symmetry Surgical Inc. (US), CONMED Corporation (US).