Seattle, Oct. 13, 2022 (GLOBE NEWSWIRE) -- According to Coherent Market Insights, the global electrosurgical devices market is estimated to be valued at US$ 6,892.4 million in 2022 and is expected to exhibit a CAGR of 6.8% during the forecast period (2022-2030).
Key Trends and Analysis of the Global Electrosurgical Devices Market:
Major players operating in the market are focusing on increasing product launch of electrosurgical devices, which is expected to drive the market growth over the forecast period. For instance, on September 28, 2022, Olympus, which is a Japanese manufacturer of optics and reprography products, launched THUNDERBEAT Open Fine Jaw Type X single-use hybrid ultrasonic and bipolar electrosurgical instrument for open surgery.
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Key Market Takeaways:
The global electrosurgical devices market is expected to exhibit a CAGR of 6.8% during the forecast period due to increasing inorganic strategies like partnership and acquisition by the key player. For instance, in July 2019, RoundTable Healthcare Partners, which is an operating-oriented private equity firm focused exclusively on the healthcare industry, announced that its portfolio company, Symmetry Surgical Inc., has entered into a definitive agreement to acquire the electrosurgical business and related intellectual property, inclusive of the Bovie brand, from Bovie Medical Corporation for a total enterprise value of US$ 97 million. The acquisition of Bovie Medical’s electrosurgical products complements Symmetry’s existing Olsen energy portfolio and will leverage the company’s sales force within operating room call points while expanding its offering of single-use surgical products.
Among application, general surgery segment is expected to hold a dominant position over the forecast period, owing to increasing number of surgeries. For instance, according to data published in July 2020, on National Library of Medicine, stated that globally, an approximately 310 million surgeries are performed each year; around 40 to 50 million in the U.S. and 20 million in Europe.
On the basis of end user, hospital segment is expected to hold a dominant position over the forecast period, owing to increasing chronic diseases. For instance, according to data published in January 2022, on American Heart Association, Inc, stated that cardiovascular disease (CVD), listed as the underlying cause of death, accounted for 874,613 deaths in the U.S. in 2019.
Competitive Landscape:
Key players operating in the global electrosurgical devices market include 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.
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Market Segmentation:
- Global Electrosurgical Devices Market, By Product Type:
- Radiofrequency Electrosurgical Devices
- Monopolar Devices
- Bipolar Devices
- Electrocautery Devices
- Monopolar Devices
- Bipolar Devices
- Electrosurgical Accessories
- Radiofrequency Electrosurgical Devices
- Global Electrosurgical Devices Market, By Application:
- General surgery
- Gynecology
- Cardiology
- Urology
- Dermatology
- Cosmetology
- Others
- Global Electrosurgical Devices Market, By End User:
- Hospitals
- Ambulatory Surgery Centers
- Specialized Clinics
- Global Electrosurgical Devices Market, By Region:
- North America
- By Country
- U.S.
- Canada
- By Country
- Latin America
- By Country
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- By Country
- Europe
- By Country
- Germany
- U.K.
- France
- Italy
- Spain
- Russia
- Rest of Europe
- By Country
- Asia Pacific
- By Country
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
- By Country
- Middle East
- By Country
- GCC
- Israel
- Rest of Middle East
- By Country
- Africa
- By Region/Country
- South Africa
- Central Africa
- North Africa
- By Region/Country
- North America
Related Market Intelligence Reports:
India Electrosurgical Devices Market, by Product Type (Electrosurgery Instruments (Bipolar Instruments and Monopolar Instruments), Electrosurgery Accessories (Cords, Cables, and Adapters, Patient Return Electrodes or Dispersive Electrodes, and Foot Switches, Carts, and Tip Cleaners), and Electrosurgery Generators and Smoke Evacuation Systems), by Application (General Surgery, Cosmetic Surgery, Orthopedic Surgery, Gynecological Surgery, Cardiovascular Surgery, Ophthalmology Surgery, and Others), by End User (Hospitals and Clinics and Ambulatory Surgical Centers) - Size, Share, Outlook, and Opportunity Analysis, 2021 – 2028
North America and Europe Minimally Invasive Prostate Cancer Surgery Market, By Product Type (Hand (Resectoscope, Linear Cutter, Insufflators, Curved Stapler, Endoscopic Trocars, Prostatic Retractor, Cryoablation Device, Others), Monitoring & Visualization (Cameras & Video Support, Endoscopic Trocars with Optical View), Powered (Electrosurgical Unit, Lasers)), By Application (Laparoscopy Robotics Surgery Brachytherapy Cryosurgery), and By Region (North America, Europe) - Size, Share, Outlook, and Opportunity Analysis, 2020 – 2027
Surgical Equipment Market, By Product Type (Surgical Sutures (Absorbable Sutures, Non Absorbable Sutures), Hand Instruments, Electrosurgical Devices), and By Region (North America, Latin America, Europe, Asia Pacific, Middle east & Africa) - Size, Share, Outlook, and Opportunity Analysis, 2020 - 2027
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