Electrosurgical Devices Market Strategies, Top Players, Growth Opportunities, Analysis and Forecast by 2031

The electrosurgical devices market size is projected to reach US$ 14.06 billion by 2031 from US$ 6.85 billion in 2023. The market is expected to register a CAGR of 9.4% in 2023–2031. The development of argon plasma coagulation (APC) will likely remain a vital electrosurgical devices market trend.  

Electrosurgical Devices Market Analysis

Chronic diseases like diabetes, heart disease, stroke, cancer, and obesity are the leading causes of death in the world, accounting most of the nation’s healthcare costs. According to the report by the CDC, in 2022, approximately more than 11.3% of the population, i.e., 37.3 million people, have diabetes, which is the foremost kidney failure cause and lower-limb amputations in the US. Moreover, the geriatric population has been increasing rapidly across the globe, and their related chronic diseases will also drive the sales of electrosurgical instruments, thus boosting the market growth over the forecast period.

Electrosurgical Devices Market Overview

Minimally invasive surgeries have been performed widely in recent years. Normally, minimally invasive surgery is implemented using an endoscope and other instruments containing electrosurgical units (ESUs). Surgeries like endoscopy, laparoscopy, and robot-assisted surgery using various electrosurgical devices are broadly used by surgeons. Benefits and the accuracy offered by minimally invasive surgeries boost the growth of the electrosurgical devices market.

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Electrosurgical Devices Market: Strategic Insights

Electrosurgical Devices Market

• 
  CAGR (2023 - 2031)

  9.4%
• Market Size 2023
  US$ 6.85 Billion
• Market Size 2031
  US$ 14.06 Billion

Market Dynamics

GROWTH DRIVERS

• Increase in the Number of Surgical Procedures to Favor Market

FUTURE TRENDS

• Emphasis for Medical Tourism

OPPORTUNITIES

• Development of Argon Plasma Coagulation (APC)

Key Players

• Medtronic
• Olympus Corporation
• Ethicon, Inc. (Johnson & Johnson)
• Conmed Corporation
• B. Braun Melsungen
• Apyx Medical Corporation
• Boston Scientific
• Smith & Nephew PLC
• Erbe Elektromedizin GmbH
• Applied Medical Resources Corporation

Regional Overview

• North America
• Europe
• Asia-Pacific
• South and Central America
• Middle East and Africa

Market Segmentation

Product

• Electrosurgical Instruments & Accessories
• Electrosurgical Generators
• Argon & Smoke Management Systems

Application

• General Surgery
• Gynecology
• Gastroenterology
• Arthroscopy
• Urological
• Others;

End User

• Hospitals & Clinics
• Ambulatory Surgical Centers
• Research Laboratories & Academic Institutes

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Electrosurgical Devices Market Drivers and Opportunities

Increase in the Number of Surgical Procedures to Favor Market

The rise of surgical procedures has also increased the use of electrosurgical equipment to perform the surgery. Factors such as rising stress, work pressure, heredity, improper eating habits, and exposure to chemicals, among others, cause chronic diseases. Over the last 25 years, cardiovascular cases have increased in Europe and the European Union. The addition in cardiovascular cases is observed in most of the countries in this region. As per the European Cardiovascular Disease statistics, each year more than 6 million CVD new cases in the EU are found and more than 11 million in Europe as a whole every year. The above factors in the industry is driving the electrosurgical devices market growth.

Emphasis for Medical Tourism – An Opportunity in Electrosurgical Devices Market

The emerging markets in the developing countries are giving better opportunity for the major players to expand their business. Government authorities in Asia Pacific countries are focusing on improving their medical tourism, by this means maximizing the flow of revenue. In Europe, Poland has slowly arisen as a favorite medical tourism destination. For instance, medical treatment costs are in Poland are often lower by 60%-80% compared to the same benefits in the rest of the EU countries.

Electrosurgical Devices Market Report Segmentation Analysis

Key segments that contributed to the derivation of the electrosurgical devices market analysis are product, application, and end user.

• Based on product, the electrosurgical devices market is divided into electrosurgical generators, electrosurgery instruments & accessories, and argon and smoke management systems. The electrosurgical generators segment held a larger market share in 2023.
•  Based on application, the market is segmented into general surgery, arthroscopy, gynecology, urology, gastroenterology, and others. The general surgery segment held a larger market share in 2023.
• In terms of end user, the market is segmented into ambulatory surgical centers, hospitals and clinics, and research laboratories & academic institutes. The hospital and clinic segment dominated the market in 2023.

Electrosurgical Devices Market Share Analysis by Geography

The geographic scope of the electrosurgical devices market report is mainly divided into five regions: North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America. The electrosurgical devices market in North America is significant. In North America, the electrosurgical devices market is currently growing and experiencing exponential growth. The region has many advanced surgical treatment clinics and increasing surgical procedures. Additionally, the increasing geriatric population is one key factor in the market's growth. Countries in North America have strict rules and regulations for electrosurgical devices, which is expected to positively affect the electrosurgical devices market growth.

Electrosurgical Devices Market Report Scope

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Electrosurgical Devices Market News and Recent Developments

The electrosurgical devices market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market for innovations, business expansion, and strategies:

• In September 2022, Olympus Launched THUNDERBEAT energy device for open surgery. THUNDERBEAT Open Fine Jaw Type X surgical energy device is designed to back safer procedures and is commercially available in Japan (Source: Olympus Corporation, Press Release)
• In June 2021, Olympus announced the launch of next-generation electrosurgical generator. The ESG-410 Electrosurgical Generator wires options and efficiencies in the treatment of non-muscle-invasive bladder cancer and benign prostatic hyperplasia (BPH), or enlarged prostate, by providing an array of resection loops, band electrodes and vaporization buttons and needles. (Source: Olympus Corporation, Newsletter)

Electrosurgical Devices Market Report Coverage and Deliverables

The “Electrosurgical Devices Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering the following areas:

• Electrosurgical Devices Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
• Market dynamics such as drivers, restraints, and key opportunities
• Electrosurgical Devices Market trends
• Detailed PEST/Porter’s Five Forces and SWOT analysis
• Electrosurgical Devices market analysis covering key market trends, Global and regional framework, major players, regulations, and recent market developments
• Electrosurgical Devices Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments
• Detailed company profiles