The electrosurgical devices market comprises of medical devices that utilize high-frequency electrical current to cut, coagulate, desiccate, and fulgurate tissue. Electrosurgical devices enable precise surgical procedures with less blood loss and enable faster healing. Advantages of electrosurgical devices include improved control and accuracy during procedures, reduced surgical time and postoperative recovery time. They offer minimally invasive alternatives to traditional surgery with capabilities of both open and laparoscopic procedures. 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 from 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. The increasing incidence of chronic diseases and rising demand for minimally invasive surgeries are fueling market growth. Furthermore, growing medical tourism in developing countries is also stimulating demand for electrosurgical devices globally.
Market Drivers
The rapid technological advancements in electrosurgical devices enable improved accuracy and effectiveness during surgical procedures. Features such as adjustable settings for cut, coagulation and fulguration allow customization for varied tissue types and surgical requirements. This is driving greater adoption among healthcare facilities and propelling market revenues. Furthermore, the rising geriatric population suffering from various diseases and the increasing healthcare expenditure are also contributing to the increased demand for electrosurgical devices.
The current geopolitical situation is significantly impacting the growth of the electrosurgical devices market worldwide. The ongoing Russia-Ukraine conflict and growing tensions between the US and China have disrupted global supply chains and put pressure on raw material prices. The restrictions imposed by countries on medical devices import and export amid the pandemic have further aggravated the supply issues for electrosurgical device manufacturers. This volatility in raw material availability and prices coupled with logistical challenges is expected to hamper the market expansion, especially in East European countries, in the short run. However, manufacturers are exploring new sourcing routes and diversifying their supply base to minimize disruptions. They are also relocating or adding additional manufacturing facilities in regions less impacted by geopolitical conflicts to gain operational flexibility. Another key strategy being adopted is developing electrosurgical products using locally available materials to shield against geopolitical risks and build self-reliance.
The North American electrosurgical devices market accounted for the largest share of the global market in terms of value in 2024 due to advanced healthcare infrastructure, high demand for minimally invasive surgeries, and presence of major industry players in the US and Canada. However, Asia Pacific is projected to be the fastest growing regional market between 2023 and 2030 driven by improving access to healthcare, increasing medical tourism, rising prevalence of chronic diseases, and growing geriatric population in China, India, and other developing Asian countries. The adoption of electrosurgery for various general surgery, gynecological, urological, and other clinical applications is also rising in the region contributing to its rapid growth.
Among geographical regions, Western Europe currently holds the highest market concentration in terms of value for electrosurgical devices owing to strong demand for innovative therapeutic solutions, established healthcare systems, and large number of specialty and super-specialty hospitals in countries like Germany, France, the UK, and Italy. However, countries in Central and Eastern Europe as well as the Middle East and Africa are expected to offer lucrative expansion opportunities for market players in the forthcoming years. This is attributed to increasing healthcare expenditures, improving reimbursement scenario, and rising medical toursim in these underpenetrated regions.
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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
