Global Electrosurgical Devices Market to Surpass USD 7.6 Billion in 2027 Due to Increasing Demand for Minimally Invasive Surgeries
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By HospiMedica International staff writers Posted on 04 Feb 2022 |
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The global electrosurgical devices market is projected to grow at a CAGR of 6.3% from USD 4.80 billion in 2019 to USD 7.62 billion in 2027, driven primarily by the increasing demand for minimally invasive surgeries.
These are the latest findings of Emergen Research (Vancouver, BC, Canada), a market research and consulting company.
Electrosurgical devices are widely used in medical disciplines including general surgery, gastroenterology, gynecology, neurosurgery, cosmetic, cardiovascular, urology for controlling bleeding and rapidly incising soft tissue during the surgery. This is accomplished by providing a high-frequency spark between the probe and surgical site causing localized heating and destruction to the soft tissue. This technique is highly preferred over traditional surgical procedures due to low risks to patients, low chances of infection and faster recovery rate.
The global electrosurgical devices market is expected to be further driven by the high prevalence of chronic diseases such as cardiovascular diseases, cancer, diabetes, increasing number of cosmetic surgeries worldwide, growing geriatric population, increasing awareness about advanced surgical procedures, rising investments in aesthetic procedures, and growing investments in research and development activities. However, stringent government norms for product approvals, increasing number of product recalls, and risks such as unintended burns and current shutting associated with monopolar electrosurgical devices are the key factors expected to hamper overall market growth.
Based on product, the electrosurgical generator segment is expected to register a steady revenue growth over the forecast period. This can be attributed to the increasing number of minimally invasive surgeries, rising adoption of latest electrosurgical generator units with integrated bipolar/monopolar modes, and high demand for electrosurgical generator units in hospital outpatient services and ambulatory surgical units. On the basis of surgery type, the general surgery segment is expected to account for the largest revenue share of the electrosurgical devices market, owing to the increasing prevalence of various chronic diseases and obesity worldwide, growing geriatric population, and availability of latest electrosurgical devices in moderate to large scale healthcare centers. In addition, the increasing number of surgical procedures, and rising adoption of minimally invasive procedures are expected to fuel the segment’s revenue growth.
Geographically, North America is expected to account for largest revenue share in the global electrosurgical devices market owing to the increasing prevalence of various chronic diseases, rising number of surgeries, presence of well-developed healthcare facilities and well-trained staff and rapid technological advancements in the region. Other factors such as increasing demand for minimally invasive techniques, rising geriatric population, high focus on developing advanced electrosurgical devices, and the presence of leading market players in the region are expected to fuel the growth of the North American electrosurgical devices market.
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