Global Electrosurgical Devices Market - 2023-2030

Market Overview

The global electrosurgical devices market size was valued at US$ 5,908.42 million in 2022 and is estimated to reach US$ 9,566.10 million by 2030, growing at a CAGR of 6.3% during the forecast period (2023-2030).

Electrosurgery is a technique generally used in surgery to rapidly dissect soft tissue and to control bleeding in surgery. These soft tissues electrical resistance to an electromagnetic current preoduces heat. The electrosurgery endpoints vary based on the power used, waveform and surgical technique. Various devices are used for electrosurgery known as electrosurgery devices.

Market Dynamics

The major factors driving the global electrosurgical devices market are the rising demand for advanced devices owing to increasing incidences of chronic disorders and surgical procedures such as general surgery or neurological surgery, surging awareness initiatives, advancements in technologies leading to novel product launches.

The increasing government initiatives to improve elective surgery and rising technological advancements leading to the development of new equipment are expected to drive the market's growth.

The electrosurgical devices market is driven by rising advancements in technology, an increase in the geriatric population, a surge in research and development investments, an increasing number of chronic disorders such as neurological degeneration as well as cardiologic disorders and improvements in novel products using the latest technology along with improvements in medical infrastructure in emerging markets.

The electrosurgical devices and accessories are being used widely for surgeries. The adoption of these equipment or devices is increasing, leading to rising government initiatives and funds. These funds will help produce electrosurgical devices such as bipolar or monopolar devices. The market for these equipment or devices is increasing worldwide due to the enhanced number of these surgical procedures requiring these devices. Moreover, the availability of technologically advanced products by key players is also expected to play a vital role in the market's growth.

Various novel product launches, research studies, and rising awareness initiatives related to these electrosurgical devices for treatment contribute to the market's growth. For instance, in Aug 2022, Abbott announced the approval received for its novel Proclaim plus spinal cord stimulation system by the U.S. Food and Drug Administration. This features FlexBurst360 therapy that provides pain coverage over six limbs or trunk areas and offers programming that adjusts according to individual therapeutic needs.

Strict rules and regulations for the product approval and lack of skilled personnel are expected to hamper the market's growth.

Strict rules and regulations for the approval of electrosurgical devices utilized for surgical procedures is the major factor hindering the growth of the electrosurgical devices market. Various requirements, clinical trials must be fulfilled, leading to an increase in the overall cost of these equipment.

Lack of skilled personnel or expert is the important factor as there is less number of people with experience in using the electrosurgical devices and small mistake can lead to death. High risk related to these electrosurgical devices and huge expenses of the treatment and requirement of repeated sessions for treatments is restraining the electrosurgical devices market growth.

COVID-19 Impact Analysis

The pandemic has negatively impacted global financial expectations, operations and crisis response strategy. The COVID-19 outbreak has severely impacted the healthcare industry. The electrosurgical devices market has experienced huge losses due to COVID. Key manufacturers have started various research and clinical trials.

Various initiatives, product launches, collaborations and mergers are happening worldwide, boosting the market's growth. The increasing awareness among the population regarding disorders such as neurological or cardiovascular and their treatment via surgical procedures will also drive the market in upcoming time.

Segment Analysis

The electrosurgical instruments and accessories segment is expected to grow at the fastest CAGR during the forecast period (2023-2030)

The electrosurgical instruments and accessories segment is the highest market holder in the global electrosurgical devices market. The global electrosurgical devices market is segmented based on product type as electrosurgical instruments and accessories, electrosurgical generators, electrocautery devices, argon and smoke management systems. The optical coherence tomography segment is the largest market shareholder due to the increasing number of surgical procedures globally, increasing technological advancements and novel product launches.

Electrosurgical instruments and accessories is the most commonly used electrosurgical devices. The electrosurgical instruments includes bipolar and monopolar instruments and accessories. An electrosurgical unit (ESU) includes a handpiece and a generator with one or more electrodes. Using a switch on the foot switch or a handpiece, this device is controlled. Electrosurgical handpieces or accessories include return electrodes, specialty electrodes, suction coagulators and pencils.

The growing number of regulatory approvals, technological advancements, product launches, and research/clinical trial studies drives the market's growth. For instance, in September 2022, in Jun 2021, Medtronic, a medical technology company, announced that the SenSight directional lead system, the first U.S. implant utilized for the therapy of deep brain stimulation, got approved by the U.S. Food and Drug Administration. It is the first DBS directional lead combining the sensing power with the directionality for treating symptoms related to Parkinson's disease, refractory epilepsy and dystonia.

Geographical Analysis

North America holds the largest market share in the global electrosurgical devices market.

North America dominates the global electrosurgical devices market primarily due to its large population, excellent medical infrastructure, and high-income levels. The market is expected to grow at a relatively moderate pace during the forecast period due to healthcare expenditure in the US. The market's significant size is attributed to the high medical expenditure.

Increasing expenditure on healthcare and raising awareness among people is also contributing to the market's growth in this region. Advancement of electrosurgical devices in several applications like neurosurgery, gynaecology surgery or general surgery, increase in pharmaceutical establishment across the region and government approvals, and the presence of key players in the region are contributing to the growth of the electrosurgical devices market.

Moreover, the growing number of product launches is responsible for the market's growth. Many key developments, technological advancements, collaborations, and agreements are taking place in this region. For instance, in March 8, 2021, Solta Medical, a business of Bausch Health Companies Inc., a medical aesthetics provider announced its next generation laser, Clear + Brilliant Touch laser in the U.S. launch. The Clear + Brilliant Touch laser provides a comprehensive and customized treatment protocol by offering patients of all skin types and ages the benefits of two wavelengths.

Competitive Landscape

The electrosurgical devices market is moderately competitive with local and global companies' presence. Stryker Corporation, Boston Scientific Corporation, Symmetry Surgical Inc., CONMED Corporation, Medtronic, Ethicon (Johnson and Johnson), B. Braun SE, Smith+Nephew, Olympus Corporation, Abbott and more. The key players are adopting various growth strategies such as product launches, mergers & acquisitions, partnerships, and collaborations, contributing to the market's growth. For instance, in February 3, 2022, Sinclair, an aesthetics company and a subsidiary of Huadong Medicine Company Limited announced about acquiring Viora Group which boost its portfolio of energy-based devices (EBD) and provide a commercial base in the U.S. Viora's non-invasive advanced products are the highly advanced devices incorporating IPL, laser and proprietary RF technologies.

Boston Scientific Corporation Inc.

Overview: Boston is a multinational biomedical engineering company. It manufactures medical devices that include interventional cardiology, neurovascular intervention, cardiac surgery, oncology and vascular surgery. It also offers a minimally invasive implantable cardiovascular defibrillator. It was founded in 1979 and is headquartered in Massachusetts, U.S.

Product Portfolio: S-ICD System: this S-ICD system is the first subcutaneous implantable defibrillator that protects from cardiac arrest without touching the heart or vasculature. This system uses a pulse generator that can deliver life-saving therapy. It uses a subcutaneous electrode and monitors the heart rhythm.

Key Development: In Jan 2021, Boston Scientific Corp. announced its agreement to acquire Preventice Solutions Inc., a private company that provides products of mobile cardiac health solutions and services.

The global electrosurgical devices market report would provide access to approx.: 45+market data table, 40+figures and 200 (approximate) pages.