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(Health-NewsWire.Net, July 20, 2021 ) The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. Thereafter, market breakdown and data triangulation procedures were used to estimate the market size of segments and subsegments.
The global electrosurgery market is projected to reach USD 8.8 billion by 2025 from USD 6.4 billion in 2019, at a CAGR of 5.2%.
The growth in this market is driven by technological advancements in electrosurgical instruments; the increasing demand for minimally invasive surgeries; the growing number of medical, cosmetic, and age-related surgeries performed; and the rising number of ambulatory surgery centers. However, risks associated with electrosurgical procedures are expected to restrain the growth of the market.
The electrosurgical instruments segment accounted for the largest share of the electrosurgery market in 2018.
Based on products, the electrosurgery market is segmented into electrosurgical instruments, electrosurgical generators, electrosurgical accessories, and smoke evacuation systems. The electrosurgical instruments segment accounted for the largest share of the global electrosurgery market in 2018. The large share of this segment can be attributed to the high usage volume of disposable and reusable electrosurgical instruments. In addition, technological advancements in electrosurgical instruments and the increasing number of cosmetic and plastic surgeries are stimulating the growth of this segment.
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The general surgery segment accounted for the largest share of the electrosurgery market in 2018.
On the basis of type of surgery, the electrosurgery market is segmented into general surgery, gynecology surgery, urological surgery, orthopedic surgery, cardiovascular surgery, cosmetic surgery, neurosurgery, oncological surgery, and other surgeries. The general surgery segment accounted for the largest share of the electrosurgery market in 2018. The large share of this segment can be attributed to the rising geriatric population and the subsequent increase in the prevalence of various diseases/conditions, the growing volume of surgical procedures performed, and the rising prevalence of obesity.
End Users:
The hospitals, clinics, & ablation centers segment accounted for the largest share of the electrosurgery market in 2018.
On the basis of end users, the electrosurgery market is segmented into hospitals, clinics, & ablation centers; ambulatory surgical centers; and research laboratories & academic institutes. The hospitals, clinics, & ablation centers segment accounted for the largest market share in 2018. The large share of this segment can be attributed to a large number of electrosurgery procedures performed in hospitals, the growing demand for minimally invasive procedures, and the rising adoption of advanced imaging modalities to improve workflow efficiency in hospitals.
Geographical Growth Scenario:
The Asia Pacific market is estimated to grow at the highest CAGR during the forecast period
On the basis of region, the electrosurgery market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. In 2018, North America accounted for the largest share of the electrosurgery market, followed by Europe. However, the Asia Pacific market is estimated to grow at the highest CAGR during the forecast period, primarily due to the growing popularity of cosmetic surgeries, government efforts to increase access to elective surgery, large population base, high patient population, and improving healthcare infrastructure in the region.
Key Players:
In 2018, Medtronic (Ireland), Ethicon (US), and Olympus (Japan) dominated the electrosurgery market. Other prominent players in this market include CONMED (US), B. Braun Melsungen AG (Germany), Applied Medical (Netherlands), Erbe Elektromedizin GmbH (Germany), Kirwan Surgical Products LLC (US), Bovie Medical Corporation (US), BOWA-electronic GmbH & Co. KG (Germany), KLS Martin Group (Germany), Boston Scientific (US), Smith & Nephew plc (UK), and CooperSurgical Inc. (US).
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