Electrosurgical Devices Market Estimate To Touch USD $9,626.2 Мn by 2030
An Electrosurgical Unit (ESU) is a device that is uses electricity to cause thermal destruction of tissue through dehydration, coagulation, or vaporization. This device consists of a generator and a handpiece with one or more electrodes.
The Global Electrosurgical Devices Market was valued at UЅD $5,643.1 Мn in 2020, and is projected to achieve a valuation of UЅD $9,626.2 Мn by 2030, at a САGR of 6.5%. The 5-year (2020–2025) cumulative revenue of this market is projected to be over $7,553.0 Mn, and is estimated to increase moderately over the latter part of the forecast period.
The steady expansion of various end-use therapeutic areas of application such as gynecology, dermatology, urology, plastic surgery, dentistry, otolaryngology, ophthalmology, etc., is leading to an expected increase in the demand for devices from the Global Electrosurgical Devices Market, thereby boosting opportunities for increased revenue growth over the next decade. Moreover, the increasing adoption of electrosurgical devices for the purposes of non-invasive cosmetic surgeries, as well as the growing popularity of cosmetic procedures across the globe are some of the other major factors that are slated to positively contribute the overall market growth of this global sector in the years to come. Another crucial factor that is expected to aid in fueling the revenue growth of this global electrosurgical devices is the steady growth being experienced by the market for dentistry, as well as the surging prominence of medical tourism, especially to various emerging economies of the world are also factors that anticipated to further augment additional opportunities of revenue growth for the global electrosurgical devices market in the foreseeable future.
However, in light of the recent COVID-19 outbreak, the operations of numerous industries have either been temporarily halted or are functioning with a minimal workforce due to enforced lockdowns and imposed restrictions by respective governing bodies. The global electrosurgical devices market is no different, and this factor is anticipated to have a negative impact on the revenue growth of this industry. Additionally, increasing focus on the development of laser technology, as well as conventional surgical procedures are also factors that may hinder the revenue growth of the global electrosurgical devices market.
Nonetheless, the increasing number of heart bypass and coronary angioplasty surgeries, as well as the availability of cost-effective surgical products are also other factors that are anticipated to fuel the revenue growth of the global electrosurgical devices market in the foreseeable future.
Segmentation of the global electrosurgical devices market is as follows:
In terms of product type, the electrosurgery generators segment accounted for the maximum number of revenue shares of the global electrosurgical devices market in 2020, and is expected to index a high CAGR over the forecast period. However, the electrosurgery instruments segment is also anticipated to index the highest CAGR over the next 10 years.
With regards to technique type, the bipolar electrosurgery segment accounted for the highest number of revenue shares of the global electrosurgical devices market in 2020, and is anticipated to continue doing so over the next decade. The monopolar electrosurgery segment is also indicative of registering a high CAGR over the forecast period.
On the basis of applications, the general surgery segment accounted for the highest number of revenue shares in 2020, and is slated to remain this industry’s front-runner over the forecast period. However, the dermatology & cosmetology segment is also expected to index the highest CAGR over the aforementioned timeline.
With respect to end-user, the hospitals segment accounted for the maximum number of revenue shares in 2020, and is anticipated to continue doing so over the next decade. The specialty clinics segment is also expected to index a high CAGR over the duration of this forecast.
Key Players: Olympus Corporation, Johnson & Johnson (Megadyne Medical Products, Inc.), Medtronic plc, Boston Scientific Corporation, Smith & Nephew Plc, Utah Medical Products Inc., Braun Melsungen AG, CONMED Corp., Apyx Medical Corp., Karl Leibinger GmbH & Co. KG, BOWA-electronic GmbH & Co. KG, ERBE Elektromedizin GmbH, Symmetry Surgical Inc.
Regional Segmentation and Analysis:
North America accounted for the maximum number of revenue shares of the global electrosurgery devices market in 2020, and is indicative of remaining this industry’s front-runner over the next decade. However, the markets in the Asia Pacific region is anticipated to register the highest CAGR over the course of the forecast period.
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