Electrosurgery Market is Expected to Reach $9.4 billion | MarketsandMarkets™

Chicago, June 10, 2024 (GLOBE NEWSWIRE) -- Electrosurgery market in terms of revenue was estimated to be worth $6.9 billion in 2024 and is poised to reach $9.4 billion by 2029, growing at a CAGR of 6.4% from 2024 to 2029 according to a latest report published by MarketsandMarkets™.

The increasing preference for minimally invasive procedures, driven by their quicker recovery times and reduced post-operative complications, is fueling a rise in demand for electrosurgical devices. These devices are essential for enabling precise tissue manipulation in minimally invasive surgeries, meeting the needs of both patients and healthcare providers. As healthcare continues to prioritize efficiency and effectiveness, the growing demand for electrosurgical devices reflects a strategic shift towards more advanced and patient-centric surgical solutions, promising to reshape the medical landscape in the coming years. The initial cost of acquiring electrosurgical equipment can be prohibitive for healthcare facilities, particularly in developing regions with limited financial resources, which could impede market growth.

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Electrosurgery Market Scope:

Report Coverage	Details
Market Revenue in 2024	$6.9 billion
Estimated Value by 2029	$9.4 billion
Growth Rate	Poised to grow at a CAGR of 6.4%
Market Size Available for	2021–2029
Forecast Period	2024–2029
Forecast Units	Value (USD Billion)
Report Coverage	Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered	By Product, Surgery Type, End User, and Region
Geographies Covered	North America US Canada Europe Germany France UK Italy Spain Rest of Europe Asia Pacific China Japan India Australia South Korea Rest of APAC Latin America Brazil Mexico Rest of LATAM Middle East & Africa GCC Countries Rest of MEA
Report Highlights	Updated financial information / product portfolio of players
Key Market Opportunity	Rising government funding to develop advanced medical treatments
Key Market Driver	Increasing demand for minimally invasive surgery

In this report, the electrosurgery market has been segmented on the basis of product, surgery type, end user, and region.
The electrosurgery market is segmented into electrosurgical generators, electrosurgical instruments, electrosurgical accessories, and smoke evacuation systems on the basis of product type. The electrosurgery instruments segment has the largest share of the electrosurgery market in 2023. With surgical procedures growing in complexity, there's a rising demand for advanced electrosurgical instruments offering higher precision, control, and safety. Surgeons rely on these tools to navigate intricate anatomical structures with minimal collateral damage. Innovation drives the evolution of electrosurgical technology, integrating features like real-time monitoring and robotics to enhance safety and efficiency. These instruments revolutionize surgical practices, meeting the demands of modern healthcare while improving patient outcomes across specialties.

The electrosurgery market is segmented into general surgery, obstetric/gynecological surgery, urological surgery, orthopedic surgery, cardiovascular surgery, cosmetic surgery, neurosurgery, oncological surgery, and other surgeries on the basis of surgery type. Electrosurgery instruments for general surgery accounted for the largest share of this market in 2023. General surgery encompasses a wide range of procedures, from abdominal surgeries to hernia repairs and appendectomies, collectively driving a high demand for electrosurgical devices. These instruments are vital for precise tissue dissection, hemostasis, and sealing, enhancing surgical efficiency and patient outcomes. As general surgery evolves, the reliance on electrosurgical devices persists, making them indispensable tools across various subspecialties within the field.

The electrosurgery market is broadly segmented into hospitals, clinics, and ablation centers; ambulatory surgical centers; and research laboratories and academic institutes on the basis of end user. The hospitals, clinics, and ablation centers segment holds the largest share of the electrosurgery market in 2023. Hospitals, clinics, and ablation centers are adopting minimally invasive surgical techniques, relying heavily on electrosurgical devices for precise tissue dissection and hemostasis. These devices utilize electrical energy to cut, coagulate, and seal tissue, facilitating intricate procedures with minimal blood loss and tissue damage. As the trend towards minimally invasive approaches grows, so does the demand for electrosurgical devices, driving market expansion and propelling advancements in surgical technology.

The electrosurgery market is segmented into North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa on the basis of geographic region. North America holds the largest share of the electrosurgery market in 2023. North America leads global healthcare spending, fostering rapid adoption of advanced electrosurgical devices and driving regional market growth. With significant investments in medical technology and a commitment to innovation, healthcare facilities prioritize state-of-the-art equipment, including precision-focused electrosurgical devices. This emphasis on excellence, coupled with stringent regulatory standards, ensures widespread acceptance and confidence among providers and patients. As a result, North America stands as one of the key regions in the evolution and expansion of the electrosurgical device market.

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Prominent Players of Electrosurgery Market:

• Medtronic plc (Ireland)
• Johnson & Johnson (Ethicon) (US)
• Olympus Corporation (Japan)
• B. Braun Melsungen (Germany)
• CONMED Corporation (US)
• Boston Scientific Corporation (US)
• Smith and Nephew Plc (UK)
• Erbe Elektromedizin GmbH (Germany)
• KLS Martin Group (Germany)
• BOWA-electronic GmbH & Co. KG (Germany)
• The Cooper Companies, Inc. (US)
• Kirwan Surgical Products LLC (US)
• Zimmer Biomet (US)
• Utah Medical Products Inc. (US)
• Encision Inc. (US)
• Stryker Corporation (US)
• Meyer-Haake GmbH Medical Innovations (Germany)
• Surgical Holdings (UK)
• C. Medical, Inc. (US)
• Aspen Surgical (US)
• Applied Medical Resources Corporation (US)
• Apyx Medical (US)
• EPMD Group (India)
• Directa Dental Group (US)
• and Among others

The research report electrosurgery market into the following segments and sub-segments:

By Product

• Electrosurgical Instruments
• Electrosurgical Generators
• Electrosurgical Accessories
• Smoke Evacuation Systems

By Surgery

• General Surgery
• Obstetric/Gynecological Surgery
• Orthopedic Surgery
• Cardiovascular Surgery
• Oncological Surgery
• Cosmetic Surgery
• Urological Surgery
• NeuroSurgery
• Other Surgeries
• By End User
• Hospitals, Clinics, and Ablation Centers
• Ambulatory Surgical Centers
• Research Laboratories and Academic Institutes

By Country

• North America
  • US
  • Canada
• Europe
  • Germany
  • France
  • UK
  • Italy
  • Spain
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Rest of APAC
• Latin America
  • Brazil
  • Mexico
  • Rest of LATAM
• Middle East & Africa
  • GCC Countries
  • Rest of MEA

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Key Market Stakeholders of the Electrosurgery:

• Electrosurgical product manufacturing companies
• Distributors, suppliers, and commercial service providers
• Healthcare service providers
• Contract research organizations (CROs)
• Medical research laboratories
• Academic medical centers and universities
• Market research and consulting firms
• Hospitals and clinics
• Cancer care and ablation centers
• Ambulatory surgery centers (ASCs)
• Research laboratories

Report Objectives:

• To define, describe, and forecast the electrosurgery market based on by product, surgery type, end user, and region
• To provide detailed information about the major factors influencing the market growth (such as drivers, restraints, challenges, and opportunities)
• To strategically analyze micromarkets1 with respect to individual growth trends, prospects, and contributions to the overall electrosurgery market
• To analyze market opportunities for stakeholders and provide details of the competitive landscape for key players
• To forecast the size of the electrosurgery market in North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa
• To profile the key players and comprehensively analyze their market shares and core competencies in the electrosurgery market
• To track and analyze competitive developments such as partnerships, expansions, acquisitions, collaborations, service launches, agreements, and other developments in the electrosurgery market
• To benchmark players within the electrosurgery market using the Company Evaluation Quadrant framework, which analyzes market players on various parameters within the broad categories of business strategy, market share, and service offerings

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