Electrosurgical devices are used in surgical procedures for cutting or sealing tissues or blood vessels by delivering high-frequency alternating current to the patient's body. Electrosurgical devices function by using an electric current to heat tissue and coagulate proteins in the cell membranes. There are several varieties of electrosurgical devices available in the market including electrosurgical generators, electrosurgical instruments & accessories, argon and smoke evacuation systems. The electrosurgical instruments segment held the largest market share in 2021 owing to its extensive usage in a variety of applications like general surgery, gynecology, urology, and others. The rising prevalence of target diseases like cancer and chronic wounds is increasing the demand for minimally invasive surgeries, thereby driving the adoption of electrosurgical devices.

The Global Electrosurgical Devices Market is estimated to be valued at US$ 6,892.4 Mn in 2024 and is expected to exhibit a CAGR of 6.8% over the forecast period 2023 to 2030.

Key Takeaways

Key players operating in the Electrosurgical Devices market are Bovie Medical Corporation, Medtronic Plc, BOWA-Electronic GmbH & Co. KG, KLS Martin, B. Braun Melsungen AG, Conmed, Olympus Corp., Boston Scientific Corporation, Erbe Elektromedizin GmbH, Symmetry Surgical Inc., Encision Inc., Gala Therapeutics, Inc., Apyx Medical Corporation, and Johnson & Johnson Services, Inc. Bovie Medical Corporation held the highest market share in 2021 owing to its wide range of electrosurgical products.

The increasing preference for minimally invasive surgeries among patients and doctors has opened up opportunities for new product launches. Key companies are focusing on developing advanced bipolar devices and multifunctional electrosurgical units to expand their product portfolio.

North America currently dominates the global electrosurgical devices market. However, Asia Pacific is expected to offer lucrative growth opportunities during the forecast period owing to rising medical tourism, growing hospital infrastructure, and increasing acceptance of advanced medical technologies in countries like China, India and South Korea.

Market Drivers

One of the key drivers for the electrosurgical devices market is the rising prevalence of chronic diseases like cancer among the geriatric population globally. According to WHO, cancer is one of the leading causes of mortality worldwide with nearly 10 million deaths in 2020. The higher risks of cancer with age has increased the demand for surgical procedures, thereby driving the electroSurgery devices market.

Another major driver is the growing demand for minimally invasive surgeries (MIS) due to their advantages like lesser trauma, blood loss, pain and quick recovery time compared to open surgeries. This is increasing the adoption of advanced electrosurgical instruments in MIS. Furthermore, technological advancements leading to the development of innovative devices with improved accuracy, safety and efficacy is also fueling the electrosurgical devices market growth.

Market Restrains

One of the key challenges in the electrosurgical devices market is the availability of alternative therapies for various surgical applications. For instance, laser technology is gaining popularity for soft tissue procedures as lasers offer advantages such as highly precise cutting and sealing of blood vessels with minimal collateral damage to surrounding tissues.

Secondly, the high costs associated with electrosurgical devices inhibit their widespread adoption, especially in price-sensitive developing markets. This poses a major restrain as manycountries lack proper reimbursement policies for imported high-end electroSurgery equipment. stringent regulatory approvals and clinical trials involved in new product launches also adds to the overall costs.

Segment Analysis
The electrosurgical devices market can be segmented into electrosurgical generators, electrosurgical instruments, electrosurgical accessories, smoke evacuation systems. The electrosurgical generators dominated the market in 2023 with a revenue share of approximately 35%. Electrosurgical generators are essential components required to perform minimally invasive surgeries using advanced technologies and energy-based devices across various surgical applications. Advances in electrosurgical generators allowing better control and precision during procedures are propelling their demand.

Global Analysis
North America dominated the global electrosurgical devices market in 2023 and accounted for over 40% revenue share. This is attributed to various factors like advanced healthcare infrastructure, presence of major players, higher healthcare spending, and greater acceptance of advanced medical technologies. Asia Pacific is expected to witness the fastest growth during the forecast period owing to increasing healthcare expenditure, large patient population, rising prevalence of chronic diseases, and growing medical tourism. China, India and Japan are emerging markets offering lucrative opportunities in the region.

About Author:

Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. (https://www.linkedin.com/in/ravina-pandya-1a3984191