Yahoo Finance Electrosurgery Market Size Worth USD 9.68 Billion by 2030 at 6.2% CAGR – Report by Market Research Future (MRFR)
Electrosurgery Market Trends and Insights by Product Type (Electrosurgical Generators, Smoke Evacuation systems, and Electrosurgical Accessories), By Application (General Surgery, Obstetric/Gynecological Surgery, Orthopedic Surgery, Cardiovascular Surgery, Oncological Surgery, Cosmetic Surgery, Urological Surgery, Neurological Surgery, and Others), By End User (Hospitals & Clinics, Specialty Centers, Ambulatory Surgical Centers, and Research Laboratories and Academic Institutes), Region, Competitive Market Growth, Size, Share and Forecast to 2030
New York, USA, Nov. 30, 2022 (GLOBE NEWSWIRE) -- Electrosurgery Market Overview
According to a Comprehensive Research Report by Market Research Future (MRFR), “Electrosurgery Market Information by Product Type, Application, End User, and Region - Forecast till 2030”, the market size is projected to reach USD 9.68 billion by 2030, registering a CAGR of 6.2% during the forecast period (2022 - 2030).
Electrosurgery Market Synopsis
In order to cut, coagulate, desiccate, or fulgurate living tissue, an electrical current is applied during electrosurgery. Electricity is used to dehydrate, coagulate, or vaporize tissue in order to thermally destroy it. The tissue serves as a resistance to the current as it passes through and transforms it into heat. The two forms of electrosurgeries employed are high frequency electrosurgery and electrocautery.
With dermatological treatments being the most popular among others, electrosurgery has a wide range of applications in operations involving teeth, laparoscopy, and chronic disorders (connected to the kidney and abdomen, among others). The World Health Organization (WHO) estimates that skin cancer affects one in three cancer patients. As a result, a sizable patient base chooses electro-surgery. For basal cell cancer, cure rates with curettage and electrosurgery are around 99 out of 100, making electrosurgery a co-therapy for the treatment.
During the projection period, North America will exhibit the greatest CAGR in the worldwide market. The demand for both minimally invasive therapies and the rise in chronic illness incidences are two reasons for this. Other growth-fostering drivers include the technology developments in electrosurgical tools.
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Report Scope:
Report Attribute | Details |
Market Size in 2030 | USD 9.68 Billion |
CAGR | 6.2% |
Base Year | 2021 |
Forecast Period | 2022-2030 |
Historical Data | 2020 |
Forecast Units | Value (USD Billion) |
Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
Segments Covered | By Product Type, Application and End User |
Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
Key Market Drivers | Increasing incidence of chronic illnesses |
High demand of minimally invasive surgeries |
Electrosurgery Market Competitive Landscape:
The affluent firms in the electrosurgery industry are
Johnson & Johnson Services, Inc. (US)
Medtronic plc (Ireland)
Olympus Corporation (Japan)
Stryker Corporation (US)
Boston Scientific (US)
Smith & Nephew Plc (UK)
Erbe Elektromedizin GmbH (Germany)
Zimmer Biomet Holdings, Inc. (US)
Symmetry Surgical Inc. (US)
CONMED Corporation (US)
Key corporations routinely undertake strategic objectives and make significant R&D investments in the development of sophisticated electrosurgery devices and technologies. To illustrate, Olympus Corporation (US) introduced the THUNDERBEAT Open Fine Jaw Type X gadget in Japan in September 2022. It is an open-surgery tool that combines bipolar electrosurgery with ultrasonic surgery. Additionally, in October 2022, Olympus Corporation made Thunderbeat available for purchase in South Korea, the US, and Europe.
Electrosurgery Market Dynamics:
Market Drivers:
Over the past ten years, there has been a noticeable rise in the preference for minimally invasive and non-invasive surgical techniques over traditional surgical treatments. Minimally invasive procedures have a number of benefits over open surgical techniques, such as shorter recovery times, fewer postoperative complications, and reduced pain. These methods are also less expensive than customary surgical procedures. Laser and electrosurgical technologies are increasingly preferred over conventional surgical procedures for the treatment of a number of diseases, including liver cancer, faulty heart valves, ophthalmic issues, and spine surgery.
Government entities’ primary focus on enhancing critical care infrastructure in their various healthcare systems is anticipated to assist the expansion of linked markets, such as the electrosurgery industry. Increasing healthcare spending on bettering infrastructure and lowering healthcare costs are two steps many industrialized countries’ governments are attempting to improve their current healthcare systems. The federal government’s increased support will likely accelerate market expansion.
Over the last two decades, emerging markets and developing economies have seen notable growth. For the majority of goods and services, developing nations have seen the fastest market growth. Through collaboration and partnership, businesses in underdeveloped regions are mass-producing products and selling them to rich nations. Businesses are growing in underdeveloped areas where skilled labor and qualified managers are affordable.
Market Restraints:
During electrosurgical procedures, high-frequency electrical currents are used to coagulate and cut tissue. The heat from the electrosurgical generator may cause electric shocks, thermal burns, the release of toxic gases, smoke inhalation, and the spread of infection, among other adverse consequences. According to Encision Inc., a patient in the US has burns during laparoscopic surgery every 90 minutes (US). Additionally, electrosurgical therapy may cause pacemakers and defibrillators that have been installed in patients to malfunction. Additionally, there is a significant risk of contamination with electrosurgery if adequate safety measures are not performed.
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COVID 19 Analysis
Surgery practise was significantly impacted by the pandemic. Every surgical speciality had to give routine surgical treatments top priority and, whenever possible, consider non-surgical therapy options. The pandemic had an impact on working practises, surgical techniques (open vs. minimally invasive), theatre workflow, patient and staff security, training, and education. Elective surgery was temporarily outlawed due to the pandemic, which led to cancellations nationwide. According to research from the COVIDs Surge Collaborative, about 28 million procedures were postponed during the peak interruption of 12 weeks.
Electrosurgery Market Segmentation
By Product Type
The market can be considered for product types like electrosurgical generators, smoke evacuation systems, and electrosurgical accessories. Due to factors including the increased need for less invasive operations and the accessibility of sophisticated electrosurgical generators, electrosurgical generators are anticipated to hold the largest market share over the projection period.
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By Application
The applications are general surgery, obstetric/gynecological surgery, orthopedic surgery, cardiovascular surgery, oncological surgery, cosmetic surgery, urological surgery, neurological surgery, and others. Due to benefits such as little lateral harm to neighboring structures and favorable postoperative outcomes, general surgery is anticipated to hold the largest share in 2021.
The market has been divided into hospitals and clinics, specialty centers, ambulatory surgical centers, research laboratories, and academic institutions, depending on end users. Due to a senior population and a rising desire for minimally invasive procedures (MIS), hospitals and clinics are predicted to hold the biggest market share in 2021.
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Electrosurgery Market Regional Insights
According to projections, the North American market will have the largest share over the forecast period because to factors like rising demand for less invasive procedures, technological developments in electrosurgical equipment, and an increase in the frequency of chronic conditions. The very prevalent chronic diseases that may necessitate surgery, according to the Centers for Disease Control and Prevention (CDC), further contribute to the region's growth. Heart disease, cancer, chronic lung disease, stroke, diabetes, and chronic kidney diseases are among the most common chronic illnesses.
Due to an increase in aesthetic surgery procedures and the aging population, the Asia Pacific electrosurgical market could develop at the quickest rate in terms of revenue. The World Economic Forum estimates that China, India, and Japan will have the oldest populations in 2020. In addition, it is predicted that by 2050, one in four elderly persons will reside in the Asia-Pacific region.
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