Dublin, Feb. 08, 2023 (GLOBE NEWSWIRE) -- Maximize Market research, a global Medical Devices market research firm, based out of India, has published a competitive intelligence and market research report on “Electrosurgery Market”. The total market opportunity for Electrosurgery was USD 5.8 Bn in 2021 and is expected to grow at 6.1 percent CAGR through the forecast period to reach USD 9.31 Bn by 2029. As per the report, the Asian Pacific market is expected to grow at a high CAGR during the forecast period.
Electrosurgery Market Report Scope and Research Methodology
The main objective of the Electrosurgery Market report is to present a comprehensive analysis of the global market in simple language to the stakeholders in the industry. The past and present status of the industry with forecasted market size and trends are covered in the Electrosurgery Market report. For the competitive analysis, a dedicated study of the key manufacturers has been included in the report. The Electrosurgery Market of key manufacturers consists of market leaders, new entrants and followers by region. The analysis of internal and external factors affecting the market positively and negatively has been included in the report, which provides a clear futuristic view of the industry to the decision-makers. For easy understanding, the market has been divided into three major segments which were further divided into various sub-segments. The report provides a segment-wise analysis of the market and the major segments are surgery type, end-user and product type.
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The bottom-up approach was used to estimate the Electrosurgery Market size. The data in the report has been collected by using both the research methods that are primary and secondary. The report is a mixture of the data gathered by using both research methods, which makes the report more authentic. PORTER and PESTLE analysis with the potential impact of macro and micro economic factors by region on the market are presented in the report. SWOT analysis provides the strengths, weaknesses, opportunities and threats of the Electrosurgery Market.
Electrosurgery Market Overview
The process which includes passing high-frequency currents through the human body is called electrosurgery. This procedure destroys tissue or coagulates blood vessels by using a heated metal wire electrode. During surgery to cut tissue or prevent bleeding, many electrosurgery equipment or products are used. Electrosurgery technologies are utilized in various surgical procedures including cardiovascular surgery, gynecological surgery, vascular surgery and others.
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Electrosurgery Market Dynamics
The increasing demand for minimally invasive procedures, rising prevalence of chronic diseases, technological advancements and innovation in electrosurgical instruments, a shift in preference for outpatient procedures in developed regions and an increasing number of hospitals are the major growth drivers of the market. The Electrosurgery Market is also driven by the increasing number of cosmetics and age-related surgeries. The high risk of contamination carried out by electrosurgery is expected to limit the market growth during the forecast period.
Electrosurgery Market Regional Insights
In 2021, the Electrosurgery market in the North America region dominated the global market. This is majorly attributed to the presence of local players and intense regional competition. The high adoption of the technology is expected to fuel market growth during the forecast period.
During the forecast period, the Electrosurgery market in the Asia Pacific region is expected to grow at a high CAGR. This growth is majorly expected due to the increasing foreign direct investments, rapid economic development and increasing public awareness.
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| Market Size in 2021 | USD 5.8 Bn. |
| Market Size in 2029 | USD 9.31 Bn. |
| CAGR | 6.1% (2022-2029) |
| Forecast Period | 2022-2029 |
| Base Year | 2021 |
| Number of Pages | 291 |
| No. of Tables | 116 |
| No. of Charts and Figures | 109 |
| Segment Covered | Surgery Type, End-User and Product Type |
| Regional Scope | North America, Europe, Asia Pacific, Middle East and Africa, South America |
| Report Coverage | Market Share, Size & Forecast by Revenue | 2022−2029, Market Dynamics, Growth Drivers, Restraints, Investment Opportunities, and Key Trends, Competitive Landscape, Key Players Benchmarking, Competitive Analysis, MMR Competition Matrix, Competitive Leadership Mapping, Global Key Players’ Market Ranking Analysis. |
Electrosurgery Market Segmentation
By Surgery Type
- General surgery
- Obstetric/gynecological surgery
- Urological surgery
- Orthopedic surgery
- Cardiovascular surgery
- Cosmetic surgery
- Neurosurgery
- Oncological surgery
By End-user
- Hospitals
- Clinics
- Ambulatory Surgical Centers
- Others
By Product type
- Electrosurgical generators
- Active electrodes
- dispersive electrodes
- various accessories
Electrosurgery Market Key Competitors include:
- Medtronic PLC (US)
- Applied Medical Resources Corporation (US)
- Utah Medical Products, Inc. (US)
- Kirwan Surgical Products LLC (US)
- Johnson & Johnson (US)
- Conmed Corporation (US)
- Parkell, Inc. (US)
- DTR Medical Ltd (UK)
- Fluke Corporation (US)
- Plasma Surgical Inc (US)
- Symmetry Surgical Inc (US)
- Becton, Dickinson and Company (US)
- Xodus Medical (US)
- Stryker Corporation (US)
- Medtronic-Covidien AG (UK)
- Smith and Nephew (UK)
- Prima Medical Limited (UK)
- Welfare Medical Ltd. (UK)
- Soring GmbH (Germany)
- B. Braun Melsungen AG (Germany)
- Erbe Elektromedizin GmbH (Germany)
- KLS Martin Group (Germany)
- Bowa-Electronic GmbH & Co. Kg (Germany)
- Ackermann Instrumente GmbH (Germany)
- Atmos Medizin Technik GmbH & Co. KG (Germany)
- Olympus Corporation (Japan)
- XcelLance Medical Technologies Pvt. Ltd. (India)
- RF Medical Co. Ltd (South Korea)
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Key questions answered in the Electrosurgery Market are:
- What is Electrosurgery?
- What are the global trends in the Electrosurgery Market?
- What are the upcoming industry applications and trends for the Electrosurgery Market?
- What are the factors contributing to the final price of Electrosurgery?
- What is the expected demand for different types of products in the Electrosurgery Market during the forecast period?
- What are the recent industry trends that can be implemented to generate additional revenue streams for Electrosurgery Market?
- What growth strategies are the players considering to increase their presence in Electrosurgery?
- What are the major challenges that the Electrosurgery Market could face in the future?
- Who held the largest market share in Electrosurgery Market?
Key Offerings:
- Market Share, Size & Forecast by Revenue | 2022−2029
- Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Key Trends
- Market Segmentation – A detailed analysis by Surgery Type, End-user, Product type and Region
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
Maximize Market Research is leading Medical Devices research firm, has also published the following reports:
Laparoscopic Devices Market - The market size is expected to reach USD 11.17 billion by 2029 at a CAGR of 6.6 percent during the forecast period. The market is expected to be driven by the increasing adoption of minimally invasive surgeries.
Minimally Invasive Surgical Instruments Market - The market size is expected to reach USD 40.4 billion by 2029 at a CAGR of 8 percent during the forecast period. The market is expected to be driven by the increasing number of minimally invasive treatments, increasing healthcare expenditure and the growing elderly population.
Ambulatory Surgery Centres Market - The market size is expected to reach USD 27.38 billion by 2029 at a CAGR of 11.9 percent during the forecast period. The market is expected to be driven by the increasing medicare expenditure on ambulatory surgery centers and a greater emphasis on cost control in healthcare.
Laser Therapy Devices Market - The market size is expected to reach USD 13.77 billion by 2029 at a CAGR of 9.32 percent during the forecast period. The market is expected to be driven by the increasing popularity of non-invasive laser treatments in aesthetic treatment and increasing prevalence of cancer and technical improvements in laser therapy techniques.
Lung Cancer Screening Market - The market size is expected to reach USD 4.13 billion by 2029 at a CAGR of 8.32 percent during the forecast period. The market is expected to be driven by the increasing focus on research and development activities of lung cancer diagnostic and screening tests.
About Maximize Market Research:
Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
