Electrosurgical Devices Market size to exceed $15.4 Bn by 2032

Electrosurgical Devices Market size is projected to reach more than USD 15.4 billion by 2032, according to a new research report by Global Market Insights Inc.
 

Growing preference for minimally invasive procedures will have a positive impact on the electrosurgical devices industry outlook. In recent years, minimally invasive surgeries, including laparoscopy have gained substantial momentum, subsequently shifting focus from conventional tools, such as lasers and surgical blades to electrosurgical devices.
 

Globally, more than 13 million laparoscopic procedures are performed each year on account of the increasing need for surgical interventions and rapid penetration of robotic technologies. Additionally, the ongoing advancements in monopolar and bipolar electrosurgical units (ESUs) have led to the introduction of novel tools to offer exceptional reliability and accuracy.
 

However, the strong presence of stringent regulatory approvals required to market the medical devices may restrain the electrosurgical devices market growth. Leading health agencies worldwide, such as the Food and Drug Administration (FDA), are regulating medical devices under the 510(k)-guidance. Electrosurgical devices comprising high-frequency (HF) and radio-frequency (RF) devices are particularly covered by the FDA under Section 878.4400.
 

These make use of the implementation of specific guidelines pertaining to the safety and biocompatibility of devices, which in case of lack of adherence may result in a larger supply-demand gap.
 

Increasing adoption of smoke evacuation systems to drive market trends

Electrosurgical devices market valuation from smoke evacuation systems is estimated to reach more than USD 3.7 billion by 2032. The rising expansion for smoke evacuation systems can be attributed to the rising deployment of strict regulatory standards necessitating the installation of an effective system to deal with the toxic fumes produced during surgical procedures.
 

In the U.S., nine states have passed surgical smoke evacuation laws as of 2022, while New York, Ohio, Texas, and several other states are looking forward to introducing legislation. For instance, in March 2022, Washington, and Arizona forayed into the surgical smoke-free movement with new laws for smoke evacuation.
 

Rising need for effective neurosurgeries to counter Alzheimer’s disease to favor industry dynamics

Electrosurgical devices market size from neurosurgery applications is anticipated to exhibit a 5% CAGR from 2023-2032. The rising prevalence of neurological disorders is expected to accelerate the need for electrosurgical assistance in neurosurgeries. According to the GBD 2019 Dementia Forecasting Collaborators’ research, the number of people with Alzheimer’s disease and other dementias is estimated to reach around 150 million by 2050.
 

Furthermore, the growing risk of dementia and cognitive decline among patients with neurological conditions induced by unhealthy lifestyle habits, such as excessive alcohol consumption, and sedentary lifestyles will prompt the need for advanced neurological care, leading to enhanced market growth.
 

Browse key industry insights spread across 110 pages with 236 market data tables & 11 figures & charts from the report, “Electrosurgical Devices Market Size By Product Type (Electrosurgical Generator, Electrodes, Smoke Evacuation System, Accessories), By Application, (General Surgery, Gynaecology, Urology, Orthopaedic Surgery, Cardiovascular Surgery, Cosmetic Surgery, Neurosurgery), By End-use (Hospitals, Ambulatory Surgical Units, Specialized Clinics), Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2023 – 2032” In detail along with the table of contents:
https://www.gminsights.com/industry-analysis/electrosurgical-devices-market
 

Hefty investments in healthcare infrastructure projects to boost electrosurgical devices progression in hospitals

Electrosurgical devices industry share from hospitals exceeded USD 3.8 billion in 2022. Hospitals continue to predominate the healthcare sector as the key center for all patient needs including diagnostic services, treatment, and even drugs and medications. Favorable insurance provisions, affordable care, and high patient capacity are some of the major factors influencing the patient inclination toward hospital setups.
 

Moreover, the ongoing efforts to solidify the healthcare infrastructure and massive investments in the establishment of state-of-the-art hospitals will complement the industry gains. For instance, in December 2022, the New Zealand government approved an influx of USD 110 million for the construction of the New Dunedin Hospital, which is expected to become the largest infrastructure in the country.
 

Presence of large patient pool to propel the demand for electrosurgical devices in North America

North America held 44.9% share of the electrosurgical devices market in 2022. The escalating geriatric population, high surgery rates, and the rapid adoption of next-generation medical technologies will spur industry expansion across North America. The high prevalence of chronic conditions in countries such as the U.S. and Canada indicates a large patient pool, therefore a solid need for advanced surgical instruments.
 

Furthermore, the region is home to one of the most advanced healthcare sectors with novel technologies and the rising number of gynecologists and urologists to address the surge in patients suffering from relevant disorders.
 

Product innovations to boost electrosurgical devices industry development

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 are some of the leading companies in the electrosurgical devices market.