Electrosurgical devices use high-frequency alternating electric current to cut, coagulate, desiccate and fulgurate tissue. These devices offer advantages like reduced blood loss during surgery, minimal damage to surrounding tissue and decreased surgical and recovery time over conventional surgery. The global electrosurgical devices market is estimated to be valued at US$ 6,892.4 Mn in 2023 and is expected to exhibit a CAGR of 6.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends: Advancements in electrosurgical devices technologies is one of the major trends fueling the growth of this market. Manufacturers are focusing on developing electrosurgical devices integrated with advanced technologies like bipolar technology, monopolar technology and cutting & coagulation modes for improved precision, speed and control during surgical procedures. For instance, in 2021, Olympus Corp. launched the Thunderbeat electrosurgical device integrated with advanced bipolar and monopolar technologies for minimally invasive surgeries. The new technologies in these devices allow surgeons to use various energy modalities and achieve more accurate and controlled tissue effects. This increases the efficiency of surgical procedures and leads to better clinical outcomes.
Segment Analysis
The global electrosurgical devices market is dominated by electrosurgical generators sub segment. Electrosurgical generators generate radio frequency electrical current and are used to cut, coagulate, desiccate and fulgurate tissues. They provide necessary power to operate electrosurgery instruments like electrosurgical generators, electrosurgery electrodes, bipolar forceps and monopolar probes. These generators help to perform minimally invasive surgeries in the field of gynecology, urology, gastroenterology, dermatology and general surgery. Their widespread adoption across ambulatory surgical centers and hospitals drive the growth of this sub segment.
Key Takeaways
The global electrosurgical devices market is expected to witness high growth during the forecast period from 2023 to 2030. The market size is projected to reach US$ 6,892.4 Mn by 2023 from US$ 4,256.2 Mn in 2018, at a CAGR of 6.8%.
Regional analysis
North America dominated the global market in 2018 and is anticipated to maintain its dominance during the forecast period. Higher healthcare spending, strong presence of industry players, growing disease prevalence and increasing initiatives for minimally invasive procedures are some factors boosting the growth of electrosurgical devices market in North America.
Key players
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 and Medtronic Plc hold majority market share due to their robust product portfolio and global presence.
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