Global Electrosurgery Market to Reach Almost USD 6 Billion by 2026
Posted on 22 Apr 2022
Electrosurgery makes use of high frequency electrical energy for carrying out high precision surgeries, while ensure low levels of tissue damage and less oxygen sacrifice. Electrosurgical procedures are widely used in medical disciplines such as gynecology, urology, pneumology, neurology, abdominal surgery, general surgery, and gastroenterology among others. The faster recovery time, low risk to patients, easy usage, and reduced risk of infection are some of the advantages driving the use of electrosurgery procedures as compared to traditional surgical techniques. The global electrosurgery market is projected to grow at a CAGR of 3.6% from an estimated USD 5 billion in 2022 to almost USD 6 billion by 2026, driven by the rapidly rising number of surgeries being performed globally, an aging population, and increasing prevalence of various chronic diseases.
These are the latest findings of Global Industry Analysts Inc. (San Jose, CA, USA), a market research company.
The growing geriatric population worldwide, with higher susceptibility to diseases such as cardiac arrest, cancer, intestinal and gastrointestinal diseases owing to their weakening immune system, is emerging as the key driver of the demand for electrosurgery procedures and devices. The incidence of chronic diseases continues to increase, necessitating surgical intervention is paving the way for electrosurgical devices to be used. The increasing number of minimally invasive surgeries being performed is enhancing the significance of the electrosurgery technique in critical surgical methods such as cutting, coagulation, devitalization and thermofusion.
Increasing number of cosmetic and plastic surgeries being carried out and the rapid pace of technology advancements in electrosurgical tools are also favoring the growth of the electrosurgery market. Advancements in the electrosurgical technology space are primarily focused on achieving anatomic dissection with improved precision, better hemostasis, and minimum thermal damage to the surrounding tissue. Other areas include improved cutting precision, minimizing the occurrence of tissue adhesion to the electrode device, and temperature regulation electrode-tissue contact area. The recent years have witnessed the rollout of devices with high radiofrequency, embedded digital algorithms to control the impact of delivered energy, and hybrid technologies that combine the benefits of both bipolar and ultrasonic technology.
In North America, the expanding geriatric population and rapidly rising demand for cosmetic surgeries is fueling growth of the region’s electrosurgery market. The established and advanced nature of its healthcare industry and favorable government policies are spurring the growth of the North American electrosurgery market. The US represents the largest regional market for electrosurgery and is projected to reach USD 2 billion by 2026 from an estimated USD 1.8 billion in 2022.
The electrosurgery market in Asia-Pacific is poised to grow at fast pace, mainly due to rising demand for plastic and cosmetic surgeries in the region. Growing awareness about minimally invasive surgeries is also fueling the demand for electrosurgery instruments in the region. The growing demand for elective cosmetic surgeries, increasing access to elective surgeries, improving healthcare infrastructure facilities, and better insurance coverage are also driving the growth of the Asia-Pacific electrosurgery market. China is expected to spearhead the growth of the global electrosurgery market and emerge as the fastest growing regional market with a CAGR of 4.4% over the forecast period.
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