Electrosurgery Market - Expected Growth Rate will be 5.2%

The study involved four major activities in estimating the current market size for the electrosurgery market. Exhaustive secondary research was done to collect information on the market and its different subsegments. 

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 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 the global electrosurgery 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; and the rising number of ambulatory surgery centers. 

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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.

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.

Key Questions Addressed by the Report:

# What are the growth opportunities related to the adoption of electrosurgery devices and instruments across major regions in the future?
# Emerging countries have immense opportunities for the growth and adoption of electrosurgery devices and instruments. Will this scenario continue in the next five years?
# Where will all the advancements in products offered by various companies take the industry in the mid- to long-term?
# What are the new trends and advancements in the electrosurgery market?
# What are the different trends and dynamics that will shape the future of the global market?

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.

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Major Industry Leaders:

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).

In order to sustain their dominance in the electrosurgery industry, a majority of prominent players are focusing on increasing their geographical presence and strengthening their product portfolios through the strategies of product launches, agreements & partnerships, and acquisitions.