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Electrosurgical Devices Market Size
Electrosurgical Devices Market size was worth more than USD 8.9 billion in 2022 and is anticipated to expand at a 5.3% CAGR from 2023-2032. Rising number of surgical procedures performed worldwide will accelerate industry growth.
The steady rise in the number of surgical procedures performed across the globe is expected to fuel the demand for state-of-the-art electrosurgical procedures. The growing awareness regarding latest technological breakthroughs in medical devices based on artificial intelligence (AI) tools, such as deep learning will positively influence the industry outlook. Over the past few years, the prevalence of chronic illnesses has risen stronger resulting in higher health concerns associated with disability and mortality, particularly across low and middle-income countries.
| Report Attributes | Details |
|---|---|
| Base Year: | 2022 |
| Market Size in 2022: | USD 8.9 Billion |
| Forecast Period: | 2023 to 2032 |
| Forecast Period 2023 to 2032 CAGR: | 5.3% |
| 2032 Value Projection: | USD 15.4 Billion |
| Historical Data for: | 2018 to 2032 |
| No. of Pages: | 110 |
| Tables, Charts & Figures: | 247 |
| Segments covered: | Product Type, Application, End-use and Region |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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Higher toxicity associated with surgical instruments may impede product demand
The growing concerns associated with toxic fumes generated by tools and devices used in surgical procedures could restrain the electrosurgical devices industry progress. Electrosurgical devices are known to produce harmful smoke which can compromise both patient as well as staff health. According to the American Safety & Health Administration, approximately 500,000 healthcare personnel are exposed to electrosurgical fumes annually. Hence, the high exposure to a combination of hazardous gases including hydrogen cyanide, carbon monoxide, and benzene poses a risk of non-acute health complications, and long-lasting side effects, leading to restrained electrosurgical devices market expansion.
Electrosurgical Devices Market Analysis
Electrosurgical devices market valuation from electrosurgical generators reached over USD 3.9 billion in 2022 ascribing to their high-value proportion with improved product life and technological sophistication. Moreover, the increasing spending across healthcare facilities and hospitals on the large-scale adoption of next-generation electrosurgical units (ESUs) is encouraging manufacturers to launch novel generators. Furthermore, the modernization of the healthcare sector and the rapid penetration of automated technologies to improve the precision, efficiency, and output of surgical procedures will foster demand for advanced electrosurgical generators.
Electrosurgical devices market size from ambulatory surgical units is projected to exhibit a 6% CAGR between 2023-2032. In recent years, ambulatory surgical units have gained substantial momentum owing to the paradigm shift toward outpatient treatment and care. The rapid expansion of technological capabilities and the easy access to a broad spectrum of healthcare services such as spinal, cataract, cardiac, and bariatric surgeries under one roof is responsible for high patient inclination towards these healthcare settings. Additionally, the increasing investments in healthcare infrastructure are enabling the digitization of ambulatory units with EMRs and telehealth for better patient monitoring and improved outpatient care. As per data published by the National Health Services (NHS) England, the number of outpatient appointments surpassed 122 million in 2021-2022.
In terms of revenue, the electrosurgical devices market share from cardiovascular surgeries is estimated to reach more than USD 2 billion by 2032. The growing burden of chronic diseases worldwide is accelerating the need for cardiovascular surgeries and cardiac care, further proliferating the demand for electrosurgical devices. For instance, according to the World Health Organization (WHO), more than 17.5 million individuals die each year due to cardiovascular diseases (CVDs). As per the Direct Healthcare Cost of Noncommunicable Diseases in Malaysia report by WHO, and the Ministry of Health (MOH) in August 2022, cardiovascular diseases, cancer, and diabetes annually cost the Malaysian economy over USD 2 billion.
Europe electrosurgical devices market size is poised to surpass USD 4.2 billion by 2032. Europe is home to countries such as the U.K., Germany, and France with a massive footprint of medical device manufacturers. The region is expected to emerge as a key hotspot for the electrosurgical devices industry due to the growing patient pool of chronic disorders and the rising number of surgical procedures performed. Furthermore, the influx of favorable initiatives to improve access to advanced surgical procedures and healthcare will positively influence the electrosurgical devices industry expansion in Europe.
Electrosurgical Devices Market Share
Some of the leading companies in the market include
- B. Braun Melsungen AG
- Smith & Nephew PLC ADR
- Stryker Corporation
- Boston Scientific Corporation
- Erbe Elektromedizin GmbH
- Medtronic plc
- Johnson & Johnson Private Limited
- Olympus Corporation
- AngioDynamics, Inc.
- CONMED Corporation
- KLS Martin Group
- Bovie Medical Corporation
- Applied Medical Systems
- KALSTEIN France SAS
These firms are expanding their product portfolios and introducing novel products with superior features to attain a competitive lead. For instance, in April 2022, Ehticon Inc unveiled its new electrosurgical generator suitable for a multitude of open and laparoscopic procedures.
Impact of the COVID-19 pandemic
The COVID-19 crisis had a significant impact on the market dynamics with unprecedented supply chain disruptions and economic losses. The constantly escalating number of people suffering from COVID-19 compelled several healthcare facilities worldwide to delay elective procedures and surgeries to prevent virus transmission in hospitals. For instance, according to a survey published in the Journal of Cardiothoracic Surgery covering 60 cardiac surgery centers, COVID-19 led to the decline in the number of cardiac surgeries by 50% to 75%. Moreover, the presence of logistical roadblocks and the escalating supply-demand gaps across several economies negatively influenced the electrosurgical devices industry development.
The electrosurgical devices market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Million from 2018 to 2032 for the following segments:
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By Product type
- Electrosurgical generator
- Electrodes
- Smoke evacuation system
- Accessories
By Application
- General surgery
- Gynaecology
- Urology
- Orthopaedic surgery
- Cardiovascular surgery
- Cosmetic surgery
- Neurosurgery
- Others
By End-use
- Hospitals
- Ambulatory surgical units
- Specialized clinics
- Others
The above information is provided for the following regions and countries:
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Spain
- Italy
- Poland
- Switzerland
- Netherlands
- Asia Pacific
- China
- Japan
- India
- Australia
- Thailand
- Malaysia
- Latin America
- Brazil
- Mexico
- Argentina
- Columbia
- Peru
- Middle East & Africa
- South Africa
- Saudi Arabia
- UAE
- Qatar
- Israel
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