The new report by Expert Market Research titled, ‘Global Electrosurgical Devices Market Size, Share, Growth, Analysis, Report and Forecast 2023-2031’, gives an in-depth analysis of the global electrosurgical devices market assessing the market based on its segments like type, application, and major regions like Asia Pacific, Europe, North America, Middle East and Africa and Latin America. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview 2016-2031
• Historical Market Size (2023): USD 5.3 billion
• Forecast CAGR (2023-2031): 5.7%
• Forecast Market Size (2031): USD 8.7 billion.
The global electrosurgical devices market is expected to be driven in aid with rapidly expanding healthcare industry. The factors such as the growing prevalence of chronic illness in the geriatric population increasing innovations in medical technologies and, rising preference for minimally invasive surgeries, among others are further expected to bolster the market growth. Moreover, the growing application of electrosurgical devices in neurosurgery, and cosmetic surgeries owing to their precision is likely to aid the market further. However, stringent government across the globe for healthcare-related products may hinder the market growth over the forecast period.
Electrosurgical Devices Market Segmentation
Electrosurgery refers to the surgical technique which utilises alternating electric current through a hand-held device for incision and coagulation of tissues. These electrosurgical devices are now being frequently used in a medical setting owing to benefits including reduced blood loss during surgery, and the ability for performing precise incisions, among others.
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By type, the market is divided into:
• Electrosurgery Generators
• Electrosurgery Instruments and Accessories
• Argon and Smoke Management Systems
Based on application, the market can be segmented into:
• General Surgery
• Gynaecologic Surgery
• Urologic Surgery
• Orthopaedic Surgery
• Cardiovascular Surgery
• Cosmetic Surgery
The regional markets for electrosurgical devices include:
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
Electrosurgical Devices Market Trends
Regionally, North America is anticipated to dominate the global market for electrosurgical devices over the forecast period. This can be attributed to the presence of a well-developed healthcare industry, increasing investments in research and development activities and presence of key players in the region. Moreover, the increasing awareness among the masses for advanced healthcare technologies is expected to aid the market growth. Meanwhile, the Asia Pacific region is projected to witness the highest growth rate. The factors such as increasing investment by the governments for enhancing the healthcare infrastructure in emerging nations such as India and China and growing penetration of key players in the region, among others are likely to propel the regional growth over the coming years.
Key Market Players
Some Major Players in the Market:
• B. Braun Melsungen AG
• Boston Scientific Corporation
• Bovie Medical Corporation
• BOWA-electronic GmbH and Co. KG
• CONMED Corporation
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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