Electrosurgical Devices And Equipment Global Market Report 2024

The electrosurgical devices and equipment market size has grown strongly in recent years. It will grow from $9.7 billion in 2023 to $10.44 billion in 2024 at a compound annual growth rate (CAGR) of 7.7%. The growth observed during the historical period can be attributed to several key factors, including the aging population, the adoption of minimally invasive surgery (MIS), an increase in surgical procedure volumes, the expansion of telemedicine services, and advancements in remote surgery techniques. These factors collectively contributed to the overall growth within the healthcare and surgical sectors during that time.

The electrosurgical devices and equipment market size is expected to see strong growth in the next few years. It will grow to $13.52 billion in 2028 at a compound annual growth rate (CAGR) of 6.7%. The anticipated growth in the upcoming forecast period can be attributed to several significant factors, namely the expansion of emerging markets, the increasing role of robotics and automation, the development of personalized medicine, and the growing emphasis on value-based healthcare. Additionally, key trends expected to shape this period encompass the adoption of energy-efficient devices, the integration of advanced imaging technologies, the proliferation of smart and connected devices, and the enhancement of safety features within the industry. These factors are poised to influence the business landscape and contribute to the sector's growth and transformation in the forecasted period.

The notable expansion of the electrosurgical devices and equipment market is largely attributed to the rising prevalence of chronic diseases. Electrosurgical devices play a crucial role in the treatment of various life-threatening conditions, including skin cancer, small basal cell carcinomas, squamous cell carcinoma, wound surgery, skin surgery, non-cancerous moles, dentistry, and other medical procedures. The global incidence of skin diseases, for example, has been on the rise. For instance, as of January 2023, data from the National Library of Medicine, a government-operated medical library in the United States, reveals a significant projected increase in the number of individuals aged 50 and older with at least one chronic condition. The projection indicates a substantial 99.5% rise, from 71.522 million in 2020 to an estimated 142.66 million by 2050. This upsurge in chronic diseases underscores the driving force behind the growth of the electrosurgical devices and equipment market, as these medical tools are instrumental in addressing the surgical needs of patients with such conditions.

The primary products within the electrosurgical devices category encompass electrosurgery generators, electrosurgery instruments, and associated accessories, as well as argon and smoke management systems. Electrosurgery generators are critical in the field of therapeutic endoscopy, as they provide the necessary high-frequency electrical current to operate endoscopic accessories effectively. These devices find applications across a range of surgical disciplines, including general surgery, gynecology surgery, urologic surgery, orthopedic surgery, cardiovascular surgery, cosmetic surgery, and neurosurgery. The end-users of these electrosurgical devices and equipment are diverse and include hospitals, specialized clinics, and ambulatory surgery centers, all of which rely on these technologies to enhance the precision and effectiveness of their surgical procedures.

The electrosurgical devices market research report is one of a series of new reports that provides electrosurgical devices market statistics, including electrosurgical devices industry global market size, regional shares, competitors with an electrosurgical devices market share, detailed electrosurgical devices market segments, market trends and opportunities, and any further data you may need to thrive in the electrosurgical devices industry. This electrosurgical devices market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The growth of the electrosurgical devices and equipment market is anticipated to be propelled by the escalating number of surgical procedures. Surgical procedures encompass a wide range of medical treatments that involve making incisions, are typically carried out in an operating room, and often require anesthesia or pain management. Electrosurgical devices and equipment play a pivotal role in enhancing the precision, efficiency, and overall outcomes of surgical procedures conducted across various medical specialties. This enhancement benefits both healthcare providers and patients alike. For instance, as of October 2023, data from the Organization for Economic Co-operation and Development, an intergovernmental organization based in France, reported an 8.4% increase in cataract surgical procedures in the Czech Republic. The total number of procedures rose to 142,670 in 2022, up from 131,612 in 2021. This surge in surgical procedures underscores the driving force behind the growth of the electrosurgical devices and equipment market, as these tools play a crucial role in supporting and improving the delivery of surgical care.

One of the factors restraining the growth of the electrosurgical devices and equipment market is the frequent occurrence of product recalls. In recent years, the medical device industry has experienced a notable surge in product recalls, primarily due to issues such as defective devices, software problems, mislabeling, and quality concerns. Within the broader medical device market, the electrosurgical devices and equipment segment is relatively small, which makes it more susceptible to product recalls. For instance, in October 2021, Xodus Medical had to recall its electrosurgical tip cleaner due to problems with the pouch seal and sterilization barrier in the tip cleaner. Zimmer Biomet, a medical device company, recalled its class 1 SPF PLUS-Mini and SPF XL IIB Implantable Spinal Fusion Stimulators because of elevated levels of potentially harmful chemicals that could be toxic to tissues and organs. The FDA also issued a Safety Communication notice for Magellan Diagnostics and LeadCare of Meridian Bioscience, Inc. concerning its LeadCare Testing Systems, which were found to provide inaccurate test results. These instances of product recalls underscore the challenges faced by the electrosurgical devices and equipment market in ensuring product quality and safety.

The electrosurgical equipment industry is grappling with rising costs in product development and supply to healthcare organizations due to evolving regulatory changes, particularly in the realm of customer data protection. Notably, the European Union's General Data Protection Regulation (GDPR) and alterations in equipment approval procedures are key drivers of this cost escalation. The GDPR, a comprehensive EU law governing data protection and privacy for individuals within the European Union and the European Economic Area (EEA), also exerts influence over the export of personal data outside these regions. Compliance with GDPR has proven to be a costly endeavor, with a report from Ernst and Young revealing that Fortune 500 companies have collectively spent $7.8 billion to meet GDPR requirements. In the United States, electrosurgical devices are subject to regulation by the U.S. Department of Health and Human Services and the Center for Devices and Radiological Health, operating under the U.S. FDA. Manufacturers pursuing approval have two primary pathways. One route involves conducting clinical studies and submitting a premarket approval (PMA) application, offering evidence that the device is safe and effective. The alternative approach entails submitting a 510(k) notification to demonstrate that the device is substantially equivalent to an existing device on the market, known as a predicate device, and thus not requiring a PMA. The FDA's increasing request for clinical data to support claims has significantly extended the processing time for 510(k) submissions, with delays surpassing 55% over the past decade. These delays in product releases, coupled with the additional costs incurred as a result of stringent approval processes, create challenges for investments in electrosurgical equipment and new product development. Consequently, this may lead to potential revenue loss for manufacturers in the industry.

Electrosurgery involves the application of high-frequency electric current to biological tissue for various medical purposes. Recent technological advancements have given rise to modern Electrosurgical Units (ESUs) that provide precise control and monitoring of key parameters, enabling the delivery of medically beneficial thermal effects. These advanced systems have the capability to continuously monitor both current and voltage, allowing for the calculation of parameters such as power and tissue resistance, which can be further analyzed. Depending on the specific treatment goals, these devices can maintain consistent operating parameters or make targeted adjustments through control and regulation. Therefore, Electrosurgical equipment manufacturers should consider investing in these advanced ESUs as a strategic move to enhance their market share within the industry.

Prominent companies in the electrosurgical devices and equipment market are placing a strong emphasis on the development of cutting-edge technology, particularly electrosurgical generators, as a strategic approach to bolster their market position. Electrosurgical generators are essential devices utilized in medical procedures for tasks like cutting, coagulation, and tissue manipulation through the application of high-frequency electrical currents. For instance, in June 2023, Olympus Corporation, a Japan-based manufacturer specializing in reprography and optics products, introduced the ESG-410 Electrosurgical Generator. This advanced system is equipped with PLASMA+ Technology, representing a significant leap in surgical treatment capabilities. It offers advantages such as quicker ignition, improved plasma stability, and versatile applicability with various loops, including large, medium, and band loops, along with an oval button, all achieved without direct tissue contact. The ESG-410 is a high-frequency bipolar electrosurgical generator designed for endoscopic procedures, providing a reliable and precise technology for resection and surgical tissue management. This innovation underscores the commitment of major players in the industry to remain at the forefront of technological advancements in the field of electrosurgical equipment.

Major companies operating in the electrosurgical devices and equipment market include Bovie Medical Corporation, Johnson & Johnson Private Limited, B. Braun Melsungen AG, Medtronic plc, Smith and Nephew plc, Boston Scientific Corporation, Stryker Corporation, ATMOS Inc., Heal Force Bio-meditech Holdings Limited, Erbe Elektromedizin GmbH, Bowa-Electronic Gmbh & Co.KG, Conmed Corporation, Ethicon Inc., Olympus Corporation, Megadyne Medical Products Inc., COVIDien plc, Applied Medical Resources Corporation, KLC Martin Group, Utah Medical Products Inc., Kirwan Surgical Products LLC, Parkell Inc., XcelLance Medical Technologies Pvt. Ltd., Prima Medical Ltd., Abbott Laboratories, Philips, GE Healthcare, Encision Inc., Symmetry Surgical Inc., Meyer-Haake GmbH Medical Innovations, AtriCure Inc.

North America was the largest region in the global electrosurgical devices market in 2023. Western Europe was the second-largest region in the electrosurgical devices market. The regions covered in the electrosurgical devices and equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

The countries covered in the electrosurgical devices and equipment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.

The electrosurgical devices and equipment market consists of sales of surgical generators (radiofrequency, ultrasonic, electrocautery, and argon plasma equipment) and electrosurgical instruments (monopolar, bipolar, and ultrasonic instruments). Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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