It is anticipated that the global electrosurgery devices market will continue to grow at a robust 4.4% compound annual growth rate (CAGR) from 2023 to 2033. The market is expected to grow from its 2023 valuation of US$ 3.4 billion to US$ 5.3 billion by 2033. In the past, the market expanded at a marginally faster CAGR of 3.5% from 2018 to 2022, guaranteeing a market size of US$ 3.3 billion by that year.
Sales of electrosurgery equipment are being fueled by technologically advanced tools and their widespread use in major medical, cosmetic, and age-related surgeries, which improves the surgical experience for such procedures the electrosurgery devices market.
Technologically advanced tools, along with their use in major applications in medical, cosmetics, and age-related surgeries performed, are fueling the sales of electrosurgery devices, enhancing the surgeries related to cosmetic, medical, and age-related surgery experience.
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- New minimal and invasive surgery tactics and integrated technology are fueling the sales of the electrosurgery devices market, including generators and other instruments.
- The novel coronavirus has forced the end users to prioritize the treatments. Coronavirus has restricted the electrosurgery market as it has also impacted the flow of distribution channels and supply chain, ending up in limiting the logistics operations.
- Electrosurgery devices make the processes easy and less time-consuming, putting end user care as its first priority, enhancing cosmetic surgeries, cardiovascular surgery, and gynecology surgery. This fuels the demand for electrosurgery devices.
- Governments around the world are adopting new cutting-edge technologies to enhance healthcare systems. This includes the treatment of chronic diseases that involve surgeries.
- The restrictions that hold the electrosurgery market backward are covid-19’s impact coupled with the high price and incompetent operators. The covid-19 has ruined the supply chain while high prices of cosmetic surgery limit the market as end users look for cheap price solutions and other alternatives.
What is the Segmentation Outlook for the Electrosurgery Devices Market?
- The electrosurgery instruments & accessories segment is the largest segment and will hold the biggest portion of the market by product in the forecast period, thriving at CAGR of 4.2% through 2032, owing to factors like high use in the medical and cosmetic sector, and the exciting price range because of the common usage.
- General surgery segment is the biggest application segment and will hold the largest portion of the market, flourishing at a CAGR of 4.1%, attributing to the biggest and highest growing market, is the United States, flourishing at a CAGR of 15.9% between 2022-2032, growing because of the common usage. New technological involvement in general surgery features like new corporate setups in the grown markets, startups and digitization of old working spaces.
- The United States market is flourishing at a CAGR of 3.9% between 2022 to 2032 and is likely to cross the value of US$ 1.7 Billion. The factors attributing to its growth are new cosmetic trends, high obesity rates and high capital investment on healthcare units
- The China being the second highest growing market globally will hold US$ 347 Million by the end of 2032 as it thrives on a promising CAGR of 3.7% between 2022-2032 with Japan and South Korea growing alongside.
Key Companies:
- Olympus Corporation;
- Ethicon, Inc.;
- Boston Scientific;
- B. Braun Melsungen AG;
- Kirwan Surgical Products, LLC;
- Smith and Nephew; Parkell, Inc.;
- Bovie Medical Corporation; and
- ATMOS, Inc.
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COMPETITIVE LANDSCAPE:
Some of the electrosurgery devices market competitors listed in the FMI’s study on Electrosurgery devices market are B. Braun Melsungen AG, Boston Scientific Corporation, Symmetry Surgical Inc, BOWA-electronic GmbH & Co. KG and CONMED Corporation etc.
Want to Know More about the Electrosurgery Devices Market?
The electrosurgery devices market has been studied for the historical period of 2017-2021 and forecasted period of 2022-2032.
Product
- Electrosurgery Generators
- Electrosurgery Instruments & Accessories
- Argon and Smoke Management Systems
Application
- General Surgery
- Gynecology Surgery
- Urologic Surgery
- Orthopedic Surgery
- Cardiovascular Surgery
- Cosmetic Surgery
- Neurosurgery
- Other Applications
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Recent Developments
- B. Barun Melsungen AG has upgraded its set of electrosurgery devices like monopolar accessories, bipolar accessories and equipment trolley electrosurgery. This updated innovative technology pushes the market and increases the demand for electrosurgery devices.
- Symmetry Surgical Inc has introduced its new range of electrosurgery solutions such as uterine elevatOR PRO and OccludOR Balloon, Bovie Smoke Shark and Bookwalter Retractor, fueling the sales of electrosurgery devices globally.
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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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