Coherent Market Insights

The Electrosurgical Devices Market is estimated to be valued at USD 6.58 billion in 2024.

The Electrosurgical Devices Market is estimated to be valued at USD 6.58 billion in 2024. - Coherent Market Insights

Publish In: Mar 21, 2024

The electrosurgical devices market is estimated to be valued at USD 6.58 billion in 2024, growing at a CAGR of 6.3% over the forecast period (2024 – 2031). The market is witnessing significant growth owing to the rising number of surgical procedures performed globally and the increasing acceptance of minimally invasive surgeries. Furthermore, continuous technological advancements in electrosurgical equipment such as the development of advanced bipolar devices with improved functionality and safety features are augmenting the demand for electrosurgical devices.

Market Dynamics:

The electrosurgical devices market is driven by the growing geriatric population worldwide that is prone to various chronic diseases requiring surgical treatments. According to the United Nation’s World Population Ageing Report, the number of people aged 65 years or over is projected to grow from 727 million in 2020 to 1.5 billion in 2050. Additionally, the rising prevalence of target diseases, such as cancer and cardiovascular diseases, is necessitating electrosurgery, thus accelerating the market growth.

Increasing Number of Surgical Procedures is Driving the Growth of the Electrosurgical Devices Market

One of the major drivers propelling the growth of the electrosurgical devices market is the rising number of surgical procedures performed worldwide. Electrosurgical devices find widespread application in various surgical specialties like general surgery, gynecology, urology, orthopedics, cardiology, cosmetic surgery, neurosurgery, and Ear Nose Throat surgeries. With rising incidence of chronic diseases, accidents, and age-related health issues, the demand for surgical treatments is growing steadily. This, in turn, is fueling the demand for electrosurgical tools and equipment in hospitals and clinics. Moreover, the increasing preference for minimally invasive surgeries which utilize electrosurgical devices is further augmenting the market growth.

Advancements in Electrosurgical Technology are Driving New Applications

Continuous innovation and technological advancements in electrosurgical devices are another key market driver. Manufacturers are focusing on developing more sophisticated tools with advanced energy delivery systems, improved safety features, miniature designs for minimally invasive surgeries, and bundled packages. This is expanding the scope of applications for electrosurgical procedures. The integration of latest technologies like bipolar electrosurgery and argon plasma coagulation has also broadened the capabilities of these devices. In addition, manufacturers providing device compatibility and modular components is improving adoption among healthcare facilities. Advancements are also making electrosurgery safer and more effective, increasing surgeon acceptance of these technologies.

Lack of Skilled Surgeons Restrains the Wider Adoption of Advanced Electrosurgical Systems

One major challenge restricting the electrosurgical devices market growth is the lack of skilled surgeons well-versed with advanced electrosurgical technology and procedures. Although basic electrocautery tools see widespread adoption, sophisticated higher-end devices with unique energy modalities require extensive training. Not every medical practitioner has the opportunity or willingness to undergo such training programs. This poses a significant restraint, especially in price-sensitive developing regions. Addressing the skill gap through focused educational initiatives can help tackle this market restraint.

Reimbursement Issues in Several Countries Hamper Market Penetration

Reimbursement policies also pose a notable restraint on the electrosurgical devices market growth. In many countries, public and private insurance programs have restrictive reimbursement policies regarding electrosurgery procedures and device costs. This discourages healthcare providers from investing in premium products and upgrades. It also deters physicians from regularly using electrosurgical equipment, especially disposable accessories, and rather rely on traditional methodologies. Absence of favorable reimbursement scenarios in some major markets like China and India restricts wider consumer access and impedes market expansion.

Increasing Demand for Minimally Invasive Surgeries Offers Huge Growth Opportunities

The rapidly rising preference for minimally invasive surgical techniques like laparoscopy presents significant growth opportunities for the manufacturers of electrosurgical devices. Market research studies indicate a strong future demand for electrosurgery tools compatible for use in minimally invasive surgerydue to benefits like reduced recovery time, minimal scarring and blood loss, and shorter hospital stay. Innovations facilitating enhanced visualization, precision, and versatility for minimally invasive uses will witness high gains. This presents considerable scope to develop specialized product lines catering to various minimally invasive applications.

Burgeoning Medical Tourism Industry in Developing Regions Boosts Market Potential

With improving healthcare access and infrastructure in emerging countries, the medical tourism industry is flourishing, offering huge opportunities for manufacturers. Countries like India, Thailand, and Turkey are fast becoming lucrative medical destinations, and this growing influx of international patients bodes well for electrosurgery procurement. Moreover, manufacturers expanding into such regions through direct distribution networks or tie-ups with domestic firms can gain access to untapped markets and benefit from low-cost manufacturing advantages.


Key Development

  • On January 24, 2024, Olympus Corporation, a leading global medical technology firm, unveiled its latest product, the ESG-410 Surgical Energy Platform. This platform offers comprehensive energy solutions for various surgical procedures including conventional monopolar and bipolar applications, advanced energy techniques like ultrasonic dissection, and hybrid energy methods.
  • In April 2023, Innoblative Designs, Inc., a private medical device company focusing on addressing unmet clinical needs in breast cancer treatment, announced that its SIRA RFA Electrosurgical Device received Breakthrough Device designation from the U.S. Food and Drug Administration (FDA). Designed for use in breast cancer patients undergoing Breast Conserving Surgery (BCS), commonly referred to as lumpectomy, the SIRA device represents a pivotal advancement in surgical innovation aimed at improving patient outcomes.
  • In October 2022, ZEISS Medical Technology, a prominent player in healthcare technology, revealed that MTLawton had obtained 510(k) approval from the U.S. FDA. These innovative disposable bipolar forceps, made of a distinctive copper-base alloy, offer potential benefits such as reduced tissue adhesion and charring during tissue dissection.
  • In September 2022, US Medical Innovations, LLC (USMI), a subsidiary of US Patent Innovations, LLC, a distinguished biomedical technology firm, secured a USD 10.2 million private placement agreement, drawing support from existing partners and new investors alike. The infusion of funds will fuel the ramp-up of the production for the Canady Plasma XL-1000 SMART Electrosurgical Generator (XL-1000), recently introduced by USMI.

Key Players: 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, Johnson & Johnson Services Inc., Innoblative Designs, Stryker Corporation, and Smith & Nephew PLC.

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