Global Electrosurgical Products Market Size to Reach USD 14.99 Billion in 2032 | Emergen Research

Vancouver, Dec. 26, 2023 (GLOBE NEWSWIRE) -- The global electrosurgical products market size was USD 8.90 Billion in 2022 and is expected to register a steady revenue CAGR of 5.3% during the forecast period, according to latest analysis by Emergen Research. Increasing number of minimally invasive surgical procedures is a key factor driving market revenue growth. Many healthcare institutions and professionals are becoming more environmentally conscious, and there is an increasing emphasis on Corporate Social Responsibility (CSR). Electrosurgical products are used in surgical procedures, such as cardiovascular surgery, gynecology surgery, general surgery, and others, which apply electric current for thermal destruction of the targeted tissues.

Manufacturers that prioritize environmental sustainability in the design and production of electrosurgical products align with these values, making their products more efficient to healthcare providers. Single-use and disposable electrosurgical instruments contribute to sustainability by minimizing the need for reprocessing and sterilization. These devices can reduce the overall environmental impact of healthcare facilities, leading to cost savings and increased efficiency in the long run. In addition, user-friendly interfaces on surgical devices contribute to rising demand by making the equipment more accessible to a broader range of healthcare professionals. Intuitive user interface designs reduce the learning curve for surgeons and operating room staff, promoting efficient and safe use of the equipment.

However, stringent regulatory approval process, product recalls, and safety concerns are major factors, which could restrain market revenue growth. Electrosurgical products must adhere to strict regulatory standards and undergo thorough approval processes before entering the market.

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Scope of Research

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Major Companies and Competitive Landscape

The global electrosurgical products market is fairly fragmented, with many large and medium-sized players accounting for majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective electrosurgical products. Some major players included in the global electrosurgical products market report are:

• Stryker
• Boston Scientific Corporation
• Applied Medical Resources Corporation
• Johnson & Johnson
• KLS Martin Group
• Olympus
• Conmed Corporation
• Medtronic
• Kalstein
• Erbe Elektromedizin GmbH

Strategic Development

• On 26 May 2022, Medtronic plc, which is Dublin Ireland-based leading manufacturer of therapeutic and diagnostic medical products announced a strategic partnership with DaVita Inc. to form a new, independent kidney care-focused medical device company to enhance the patient treatment experience and improve overall outcomes. According to the terms, NewCo will be co-owned by Medtronic and DaVita, with equal equity shares in each, and will be overseen by an independent management team. Medtronic will contribute its Renal Care Solutions (RCS) business, which includes its existing product portfolio and worldwide manufacturing Research & Development (R&D) teams and facilities.

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Some Key Highlights from the Report

• The electrodes segment accounted for largest revenue share in the global electrosurgical products market in 2022 due to rapid technological advancements.. Electrodes are versatile tools that can be designed for various applications including cutting, coagulation, fulguration, and desiccation. In addition, ability to use electrodes for a wide range of purposes make these products essential in different surgical settings, leading to rising demand. Electrodes with improved features, such as better conductivity, precision, and safety profiles, contribute to their increasing adoption in electrosurgery.
• The urology segment is expected to register steadily fast revenue growth rate in the global electrosurgical products market during the forecast period. This is due to rising demand for outpatient and office-based procedures and increasing treatment of prostate conditions and prevalence of urological disorders. Prostate-related procedures, such as transurethral resection of the prostate for benign prostatic hyperplasia or prostatectomy for prostate cancer, often involve the use of electrosurgical devices. In addition, increasing aging population is also expected to drive revenue growth pf this segment during the forecast period.
• The Ambulatory Surgical Centers (ASCs) is expected to account for significantly large revenue share in the global electrosurgical products market during the forecast period due to rising focus on cost-effectiveness and minimally invasive procedures. ASCs often focus on performing minimally invasive procedures that allow for quicker patient recovery and shorter hospital stays. In addition, technological advancements such as the development of more precise and versatile tools, make these products useful for ASCs, aiming to provide high-quality and advanced surgical care. Surgeons in these centers seek latest technologies to enhance patient outcomes.
• The Europe market accounted for largest revenue share in the global electrosurgical products market in 2022. This is attributed to increasing awareness among healthcare professionals and rising number of surgical procedures. In addition, significant investments in healthcare infrastructure, including surgical facilities and equipment is also expected to drive market revenue growth of this region during the forecast period. Investments in healthcare infrastructure often involve the modernization of medical facilities, including operating rooms. Upgrading these facilities with state-of-the-art equipment, including advanced electrosurgical devices, becomes a priority to enhance surgical capabilities. Moreover, improved healthcare infrastructure, along with advancements in medical technology, contribute to higher patient expectations and demands for advanced treatments. Surgeons incorporate electrosurgical devices into their practice to meet these expectations and provide state-of-the-art care.

Segments Covered in Report

For the purpose of this report, Emergen Research has segmented the global electrosurgical products market on the basis of product type, application, end-use, and region:

• Product Type Outlook (Revenue, USD Billion; 2019-2032)
  • Electrosurgical Generator
  • Electrodes
  • Others
• Application Outlook (Revenue, USD Billion; 2019-2032)
  • Gynecology
  • Urology
  • Cardiovascular Surgery
  • Others
• End-Use Outlook (Revenue, USD Billion; 2019-2032)
  • Hospitals
  • Ambulatory Surgical Centers (ASCs)
• Regional Outlook (Revenue, USD Billion; 2019–2032)
  • North America
    1. U.S.
    2. Canada
    3. Mexico
  • Europe
    1. Germany
    2. France
    3. UK
    4. Italy
    5. Spain
    6. Benelux
    7. Rest of Europe
  • Asia Pacific
    1. China
    2. India
    3. Japan
    4. South Korea
    5. Rest of APAC
  • Latin America
    1. Brazil
    2. Rest of LATAM
  • Middle East & Africa
    1. Saudi Arabia
    2. UAE
    3. South Africa
    4. Turkey
    5. Rest of Middle East & Africa

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