Global Electrosurgery Market to Reach $5.9 Billion by 2026
Electrosurgery makes use of high frequency electrical energy for carrying out high precision surgeries, while ensure low levels of tissue damage and less oxygen sacrifice. Electrosurgical procedures are widely used in medical disciplines such as gynecology, urology, pneumology, neurology, abdominal surgery, general surgery, and gastroenterology among others. The faster recovery time, low risk to patients, easy usage, and reduced risk of infection are some of the advantages driving use of electrosurgery procedure compared to traditional surgical techniques. Amid the COVID-19 crisis, the global market for Electrosurgery estimated at US$5.1 Billion in the year 2022, is projected to reach a revised size of US$5.9 Billion by 2026, registering a compounded annual growth rate (CAGR) of 3.6% over the analysis period. The United States represents the largest regional market for Electrosurgery and is estimated at US$1.8 Billion in 2022 is projected to reach US$2 Billion by 2026. China is expected to spearhead growth and emerge as the fastest growing regional market with a CAGR of 4.4% over the analysis period.
The rapidly rising number of surgeries being performed globally, an aging population, and increasing prevalence of various chronic diseases is fueling growth in the electrosurgery market. The growing geriatric population worldwide, with higher susceptibility to diseases such as cardiac arrest, cancer, intestinal and gastrointestinal diseases owing to weakening immune system, is emerging as a major factor fueling demand for electrosurgery procedures and devices. Increasing incidence of chronic diseases continues, necessitating surgical intervention is paving the way for electrosurgical devices to be used. In particular, the increasing number of minimally invasive surgeries being performed is enhancing the significance of electrosurgery technique in critical surgical methods such as cutting, coagulation, devitalization and thermofusion. In particular, the increasing number of minimally invasive surgeries being performed is enhancing the significance of electrosurgery technique in critical surgical methods such as cutting, coagulation, devitalization and thermofusion. Increasing number of cosmetic and plastic surgeries being carried out and the rapid pace of technology advancements in electrosurgical tools are also favoring growth in the electrosurgery market. Advancements in the electrosurgical technology space are primarily focused on attainment of anatomic dissection with improved precision, better hemostasis, and minimum thermal damage to the surrounding tissue. Other areas include improved cutting precision, minimizing the occurrence of tissue adhesion to the electrode device, and temperature regulation electrode-tissue contact area. The recent years have witnessed the rollout of devices with high radiofrequency, embedded digital algorithms to control the impact of delivered energy, and hybrid technologies that combine the benefits of both bipolar and ultrasonic technology.
In North America, the expanding geriatric population and rapidly rising demand for cosmetic surgeries is fueling growth in the market. The established and advanced nature of healthcare industry in North America and favorable government policies are spurring growth in the region`s electrosurgery market. Asia-Pacific is poised to grow at a high rate driven mainly by the rising demand for plastic and cosmetic surgeries in the region. Rising awareness about minimally invasive surgeries also fuels demand for electrosurgery instruments. The rising demand for elective cosmetic surgeries, increasing access to elective surgeries, improving healthcare infrastructure facilities, and better insurance coverage are also driving market growth. With medical tourism on the rise especially in the emerging markets of India, China and Brazil, demand for high-quality surgical instruments is poised to benefit the market.Select Competitors (Total 94 Featured) -
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