Which region has the highest share in the Electrosurgical Devices market?

What is the Electrosurgical Devices Market?

The Global Electrosurgical Devices Market Size was valued at USD 8,520.99 million in 2021, growing at a CAGR of 6.64% during the forecast period from 2022 to 2027, to reach USD 12,401.80 million by 2027. The demand for Electrosurgical Devices and electrosurgical devices is witnessing growth due to the growing prevalence of chronic disorders such as cardiovascular disorders, neurological disorders, gynecological disorders, and others, the rising number of surgical procedures, the escalating burden of geriatric patients, and technological advancements in product development and design improvement.

What is the Electrosurgical Devices Market Dynamics?

The electrosurgical devices market is witnessing an increase in market revenue owing to the rising prevalence of various chronic diseases such as heart failure and stroke due to various factors such as genetics, age, obesity, and unhealthy lifestyle. According to the World Health Organization (WHO) (2021), in 2019, cardiovascular disease (CVDs) was one of the leading causes of death globally. It was estimated that around 17.9 million people died from CVDs in 2019, representing 32% of all global deaths. Most cardiovascular disorders are treated by some surgery. Moreover, the rising burden of geriatric patients may increase the prevalence of chronic disorders as age is one of the risk factors for most chronic ailments. For instance, according to WHO 2021, by 2030, one in six people in the world will be aged 60 years or over. By 2050, the world’s population of people aged 60 years and older will double (2.1 billion). Thus, the increasing number of geriatric patients globally may increase the demand for electrosurgical devices during the forecast period.

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COVID-19 Impact on the Electrosurgical Device Market

In addition to the previously mentioned factors, the electrosurgical devices market witnessed a period of temporary setback due to the imposing of lockdown restrictions as necessary measures to contain COVID-19 and to stop the spread of viral infection. The COVID-19 pandemic lead to severe effects throughout the globe, in every country and their healthcare system, with major impacts not only on the patients infected with COVID-19 but on others as well. The situation had led to the cancellation of several surgeries to manage and reserve the resources, and several hospitals were facing a shortage of professionals that were responsible to assist these surgeries. For instance, as per the British Journal of Surgery Report (2020), in May 2020, around 48,728 surgical procedures per week were canceled in India, which is estimated for around 585,000 surgical procedures for 12 weeks. However, owing to the introduction of vaccines and rising focus by governments on strategized plans for further outbreaks, the demand for electrosurgical devices is expected to grow thereby presenting a positive future outlook for the electrosurgical devices market forecast period.

Recent Developmental Activities in Electrosurgical Devices Market:

·         In April 2022, Italy-based medical device company I-VASC announced the launch of the VELEX device that can be used for the treatment of Venous Insufficiency and Empty Vein Ablation and provides more safety during surgeries in comparison to conventional sclerotherapy.

·         In September 2019, Baylis Medical launched VersaCross® Large Access Solution in Canada, for performing Left Atrial Appendage Closure (LAAC) procedures. VersaCross includes the world's first 3-in-1 radiofrequency (RF) with a seamless shapeable dilator for optimizing tissue dilation.

·         In April 2019, 4T Medical announced the launch of Zeus, a portable electrosurgical device in the United Kingdom, offering control over frequency and power systems, enabling the treatment to be tailored as per the patient’s age and skin type.

What is the Electrosurgical Devices Market Segment Analysis?

Electrosurgical devices market by Product (Electrosurgical Generators, Electrosurgical instruments & accessories [Electrosurgical instruments {Monopolar instruments (Electrosurgical pencils, Electrosurgical electrodes, suction coagulators, and others), Bipolar Instruments (Advanced Vessel Sealing Instruments, Bipolar Forceps)} Electrosurgical accessories],  Argon and Smoke Management Systems), Application (General Surgery, Orthopedic Surgery, Gynaecology Surgery, Cardiovascular Surgery, Cosmetic Surgery, Neurosurgery, and others), End-User (Hospitals, Ambulatory Surgical Centers, and Others), Geography (North America, Europe, Asia-Pacific, and Rest of the World).

What are the Electrosurgical Devices Market Companies?

Some of the key players operating in the electrosurgery devices market include Medtronic, Olympus, CONMED Corporation, Symmetry Surgical Inc., Applied Medical Resources Corporation, ERBE GmbH, Kirwan Surgical Products, LLC, CIMPMAX, Johnson & Johnson, Boston Scientific Corporation, Bissinger Medizintechnik, Surgical Holdings, Parkell Inc., Utah Medical Products Inc., Novuson, Apyx Medical Corporation, B. Braun Melsungen AG, Hangzhou AGS Medtech Co., Ltd, KLS Martin Group, Smith & Nephew, and others.

Which region has the highest share in the Electrosurgical Devices market?

Among all the regions, North America is expected to account for a significant market share in the Surgical Energy Instruments Electrosurgical Devices market. North America is predicted to account for the dominant revenue share because of the increasing prevalence of chronic disorders, upsurge in the number of cosmetic surgeries, cardiovascular surgeries, and cesarean operations, along with increased product launches and approvals in the region.

What are the Electrosurgical Devices Market Companies?

Some of the key players operating in the electrosurgery devices market include Medtronic, Olympus, CONMED Corporation, Symmetry Surgical Inc., Applied Medical Resources Corporation, ERBE GmbH, Kirwan Surgical Products, LLC, CIMPMAX, Johnson & Johnson, Boston Scientific Corporation, Bissinger Medizintechnik, Surgical Holdings, Parkell Inc., Utah Medical Products Inc., Novuson, Apyx Medical Corporation, B. Braun Melsungen AG, Hangzhou AGS Medtech Co., Ltd, KLS Martin Group, Smith & Nephew, and others.