Global Electrosurgery Devices Market Fueled by New Minimally Invasive Surgery Techniques
Posted on 08 Jun 2022
Various types of surgeries such as cosmetic, cardiovascular, and gynecological procedures, require precision and are time-sensitive. Electrosurgery devices such as generators, active electrodes, and others make it easier and less time-consuming to perform such surgeries, thereby driving their demand. The COVID-19 pandemic had forced end-users to prioritize treatments and restricted the growth of the electrosurgery market. The market is currently in the recovery stage with new developments being witnessed in the manufacturing of these devices such as electrosurgery generators, instruments, and bipolar instruments. The global electrosurgery devices market is projected to grow at a CAGR of 4.4% from an estimated USD 3.3 billion in 2022 to over USD 5 billion by 2032, driven by technologically-advanced tools and their use in major applications in medical, cosmetics, and age-related surgeries being performed.
These are the latest findings of Future Market Insights (Newark, DE, USA), a market research organization.
The rise in chronic and lifestyle diseases is creating the need for specific treatments that includes multiple surgeries and is driving the electrosurgery devices market. New minimally invasive surgery techniques and related technologies are fueling the sales of electrosurgery devices, including generators and other instruments. Governments around the world are adopting new cutting-edge technologies to enhance their healthcare system, including for the treatment of chronic diseases that involve surgeries. The major adoption of electrosurgery devices is in hospitals, clinics, and ablation centers and the rising number of ambulatory surgery centers is contributing further to the market growth.
Based on product, the electrosurgery instruments & accessories segment holds the largest share of the electrosurgery devices market and is expected to register a CAGR of 4.2% through the forecast period, driven by factors such as high usage in the medical and cosmetic sector, and affordable prices due to common usage. Based on application, the general surgery segment holds the largest share of the electrosurgery devices market and is expected to register a CAGR of 4.1% through the forecast period, led by common usage and new technological developments in the field of general surgery.
Geographically, the US electrosurgery devices market is expected to record the fastest CAGR of 3.9% during the forecast period and surpass USD 1.7 billion by 2032, on the back of new trends in the cosmetic industry, high obesity rates and high capital investment in healthcare. China’s electrosurgery devices market is projected to record the second-fastest CAGR of 3.7% during the forecast period to reach USD 347 million by the end of 2032, alongside Japan and South Korea.
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