The growth in electrosurgery market is driven by growing prevalence of chronic diseases, increasing demand for minimally invasive procedures, innovation and technological advancements in electrosurgical instruments. the risks associated with electrosurgical procedures, stringent regulatory framework, and the shortage of surgeons are some of the factors expected to restrain the market growth during the forecast period.
Projected Revenue Surge:
The electrosurgery market is projected to reach USD 8.3 billion by 2027 from USD 6.2 billion in 2022 at a CAGR of 6.0% from year 2022 to 2027.
In this report, the electrosurgery market has been segmented on the basis of product, surgery type, end user, and region.
Electrosurgical instruments is expected to witness the fastest growth electrosurgery market during the forecast period.
Based on product, the electrosurgery market is segmented into electrosurgical generators, electrosurgical instruments, electrosurgical accessories, and smoke evacuation systems. The electrosurgical instruments segment is projected to register the highest CAGR during the forecast period. The high growth rate of this segment can be attributed to the increasing number of cosmetic and bariatric surgeries.
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General Surgery segment is expected to witness the fastest growth in the forecast period.
Based on surgery type, the electrosurgery market is segmented into general surgery, obstetric/gynecological surgery, urological surgery, orthopedic surgery, cardiovascular surgery, cosmetic surgery, neurosurgery, oncological surgery, and other surgeries. One of the major factors driving the growth of this surgery segment is the developing healthcare infrastructure in emerging countries.
Hospitals, clinics, and ablation centers accounted for the largest share of by electrosurgery market in 2021
Based on end user type, the electrosurgery market is segmented into hospitals, clinics, and ablation centers; ambulatory surgical centers; and research laboratories and academic institutes. Electrosurgical instruments for hospitals, clinics, and ablation centers accounted for the largest share of this market in 2021. The large share and high growth in this segment is attributed to the rising prevalence of chronic diseases.
Asia Pacific region is is expected to witness the fastest growth during the forecast period
On the basis of region, the electrosurgery market is segmented into North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa. The Asia Pacific region is projected to grow at a highest growth rate during the forecast period. Factors such as growing volume of surgical procedures, increasing healthcare awareness, rising healthcare expenditure are driving the growth of this regional market.
Key Market Players :
Key players in this market are adopting several organic and inorganic growth strategies (such as product launches, agreements, collaborations, acquisitions, and expansions). Some major players in this market are Medtronic plc (Ireland), Ethicon, Inc. (a subsidiary of Johnson & Johnson, US), Olympus Corporation (Japan), B. Braun Melsungen AG (Germany), CONMED Corporation (US), Boston Scientific (US), Smith and Nephew Plc (UK), Erbe Elektromedizin GmbH (Germany), KLS Martin (Germany), BOWA-electronic GmbH & Co. KG (Germany), The Cooper Companies, Inc. (US), Kirwan Surgical Products LLC (US), Zimmer Biomet Holdings, Inc. (US), and Utah Medical Products Inc. (US).
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