Large paragraph: Electrosurgical devices are medical devices that utilize a variety of electric currents to cut, coagulate, desiccate, and fulgurate tissues. These devices work by generating heat from the interactions of radiofrequency energy with cellular tissue, and are used in several minimally invasive surgical procedures. The global electrosurgical devices market is estimated to be valued at US$ 6,892.4 Mn in 2023 and is expected to exhibit a CAGR of 6.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The increasing demand for minimally invasive surgeries is one of the major factors propelling the growth of the electrosurgical devices market. Minimally invasive surgeries reduce surgical risks, hospital stay, recovery time, and postoperative complications as compared to traditional open surgeries. Therefore, the demand for electrosurgical devices from ambulatory surgery centers and specialty clinics offering minimally invasive treatments has grown significantly over the past few years. Moreover, the rising prevalence of chronic diseases worldwide is also augmenting the demand for electrosurgical procedures and devices.
Strength: Electrosurgical devices offer minimal invasion, faster recovery times and reduced scarring compared to conventional surgery. These devices enable precision cutting and coagulation with reduced blood loss.
Weakness: High costs associated with electrosurgical devices restricts widespread adoption. Safety concerns regarding burns and infectious risks also exist.
Opportunity: Growing geriatric population and rising prevalence of chronic diseases will drive demand for minimally invasive procedures using electrosurgical devices. Expanding application areas in gynecology, urology, gastroenterology present opportunities.
Threats: Stringent regulatory approvals and replacement of electrosurgery by newer energy-based surgical modalities can pose threats. Reimbursement issues in some regions also act as a barrier.
The global electrosurgical devices market is expected to witness high growth. Regional analysis comprises the market in North America currently dominates due to rapid technological adoption and significant healthcare spending. Asia Pacific region is expected to grow at a high rate owing to rising medical tourism, increasing healthcare expenditure and large patient pool.
Key players operating in the electrosurgical devices market are Bovie Medical Corporation, Medtronic Plc, BOWA-Electronic GmbH & Co. KG, KLS Martin, B. Braun Melsungen AG, Conmed, Olympus Corp., Boston Scientific Corporation, Erbe Elektromedizin GmbH, Symmetry Surgical Inc., Encion Inc., Gala Therapeutics, Inc., Apyx Medical Corporation, and Johnson & Johnson Services, Inc.
The global electrosurgical devices market is fragmented with the presence of several global and regional players. Leading players are focusing on new product launches, geographic expansion and acquisition strategies to gain market share. For example, in 2021, Erbe Elektromedizin GmbH launched Caldus, a new line of electrosurgical units. In 2022, Medtronic plc acquired Affera, a company developing ablation systems for cardiac arrhythmias.
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it