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Electrosurgical Devices Market Data Analysis and Acute Growth in CAGR between 2019 and 2024

Electrosurgical Devices Market to 2025 - Global Analysis and Forecasts By Product (Electrosurgical Generators, Active Electrodes, Dispersive Electrodes, and Other), Application (General Surgery, Gynecology, Urology, Gastroenterology, Arthroscopy, and Others) and Geography

The global electrosurgical devices market accounted to US$ 4,828.4 Mn in 2017 and is expected to grow at a CAGR of 6.8% during the forecast period 2018 – 2025, to account to US$ 8,000.9 Mn by 2025.

North America is the largest geographic market and it is expected to be the largest revenue generator during the forecast period. North American market is driven by the factors such as, rise in number of surgical procedures as well as FDA approvals obtained by key players in the market.

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Company Profiles

  • Olympus Corporation
  • Medtronic
  • Ethicon US, LLC
  • Boston Scientific Corporation
  • B. Braun Melsungen AG
  • CONMED Corporation
  • Erbe Elektromedizin GmbH
  • Kirwan Surgical Products, LLC
  • BOVIE MEDICAL
  • Parkell, Inc

Market Insights :

Rising Demand for Minimally Invasive Surgeries

Minimally invasive surgery (MIS) has the advantages which include less tissue injury, reduced pain, faster oral intake, smaller hospitalization and better cosmetic appearance when compared with open surgery. The benefits as well as the accuracy being offered by minimally invasive surgeries are expected to drive the market for electrosurgical devices. In laparoscopy, the surgical scars are smaller, hospital stays are shorter and the incisions created are much smaller, enabling faster healing and recovery. In recent days laparoscopy is being used widely for bariatric surgery and is also economical compared to the traditional surgery method.

Growing Geriatric Population & Associated Rise in Chronic Diseases

The elderly population is defined as group of people aged 65 and over. Population ageing is poised to become one of the most significant social transformations of the twenty-first century. The number of geriatric population has been increasing rapidly across the globe. According to the data published by the United Nations, in 2017, there were an estimated 962 million people aged 60 or over in the world, which comprised of 13 per cent of the global population. The geriatric population is estimated to grow at a rate of 3% every year. According to the report of American College of Cardiology Foundation, in 2018, Coronary heart disease (CHD) was the leading cause of deaths attributable to cardiovascular disease (CVD) in the US, which is followed by stroke (16.8%), high BP (9.4%), heart failure (HF) (9.0%), and other CVDs (17.9%).

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Product Insights

The global electrosurgical devices market by type was led by electrosurgical generators segment. In 2017, the electrosurgical generators segment held a largest market share of 33.0% of the electrosurgical devices market, by product. The electrosurgical generators segment is expected to dominate the market in 2025 since they are the basic component in an electrosurgical device.

Application Insights

The electrosurgical devices market by application was segmented into general surgery, gynecology, urology, gastroenterology, arthroscopy and others. The general surgery segment held the largest share of the market, by application. The general surgery is likely to dominate in the forecast period owing to to the rising demand for the procedure.

Strategic Insights

Acquisitions and product launches were observed as the most adopted strategy in global electrosurgical devices industry. Few of the recent product launch and acquisitions and others are listed below:

2018: In May, 2018, Olympus launched and received the approval for the ESG-300 Electrosurgery Generator. This is the latest generation of electrosurgical devices developed majorly for GI and pulmonary.

2017: In January, 2018, Ethicon acquired Megadyne Medical Products, Inc., a company manufacturing electrosurgical tools used in operating rooms. The acquisition has helped in developing better electrosurgical tools to a broader market through Ethicon’s extended global network.

ELECTROSURGICAL DEVICES – MARKET SEGMENTATION

By Product

  • Electrosurgical Generators
  • Active Electrodes
  • Dispersive Electrodes
  • Other

By Application

  • General Surgery
  • Gynecology
  • Urology
  • Gastroenterology
  • Arthroscopy
  • Others

By Geography

  • North America
  • Europe
  • Asia Pacific (APAC)
  • Middle East & Africa (MEA)
  • South America (SAM)

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