PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1514907
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1514907
Electrosurgery Generators Market size was valued at USD 1,599.78 Million in 2023, expanding at a CAGR of 7.6% from 2024 to 2032.
Electrosurgical generator units (ESUs) are essential in enabling therapeutic endoscopy by delivering the high-frequency electrical current needed for the operation of various endoscopic accessories. The process of converting the alternating electrical current from the ESU into thermal energy within tissue is known as electrosurgical energy. Instruments like polypectomy snares, forceps, and sphincterotomes act as conduits for transmitting electrical energy to the specific therapeutic site during endoscopy. Electrosurgery involves cutting or coagulating tissue using a high-frequency electrical current generated by an electrosurgical unit or ESU.
Electrosurgery Generators Market- Market Dynamics
The growth of the Electrosurgery Generators Market is anticipated to be propelled by the increasing demand for minimally invasive procedures in the treatment of chronic diseases.
Minimally invasive procedures are becoming more popular due to their smaller incisions, faster recovery times, and reduced postoperative pain compared to traditional open surgeries. The advancements in technology are further driving the adoption of these procedures in medical facilities worldwide. As healthcare systems focus on cost-effective and efficient surgical options, the demand for advanced electrosurgery generators is expected to rise. In 2018, nearly 18 million individuals in the United States underwent surgical and minimally invasive cosmetic procedures, as reported by the American Society of Plastic Surgeons (ASPS). Additionally, the expansion of healthcare infrastructure and increased healthcare spending in emerging markets present significant growth opportunities for industry players. However, the high cost of equipment may pose a challenge to market growth.
Electrosurgery Generators Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 7.6% over the forecast period (2024-2032)
Based on Product segmentation, Radiofrequency Electrosurgery Generators were predicted to show maximum market share in the year 2023
Based on Speciality segmentation, Urology was the leading type in 2023
Based on End-User segmentation, Hospitals was the leading type in 2023
Based on region, North America was the leading revenue generator in 2023
The Global Electrosurgery Generators Market is segmented based on Product, Speciality, End-User, and Region.
The market is segmented into five categories according to Product: Radiofrequency Electrosurgery Generators, Ultrasonic Electrosurgery Generators, Molecular Resonance Electrosurgery Generators, Argon Plasma Electrosurgery Generators, and Accessories. Radiofrequency Electrosurgery Generators lead the market. They play a crucial role in the overall electrosurgery generators market, providing notable benefits in terms of precision, control, and minimized thermal damage.
The market is segmented into five categories according to specialty: Urology, Gynecology, Gastroenterology, ENT, General Surgery, and Others. Urology holds the largest market share. Electrosurgery generators play a crucial role in urological procedures by providing precise cutting and coagulation of tissues, leading to decreased bleeding and enhanced surgical results.
The market is divided into two segments according to the end-users: Hospitals, Ambulatory Surgery Centers, and Others. The hospital segment holds the majority share in the market. This is mainly because hospitals perform a significant number of surgical procedures and have sophisticated medical facilities, which makes them the main consumers of Electrosurgery generators.
Electrosurgery Generators Market- Geographical Insights
Geographically, this market spans across North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further segmented by countries contributing to business activities. The market growth is expected to be primarily driven by North America, attributed to the increasing demand for Ambulatory Surgery Centers. The rise in outpatient procedures, influenced by factors like cost-effectiveness, quicker recovery times, and technological advancements facilitating minimally invasive surgeries, has resulted in the proliferation and enhancement of ASCs throughout North America. With the aging population of America's baby boomers, there is a growing need for the services offered by surgery centers. Currently, more than 49 million individuals, accounting for 15% of the U.S. population, are aged 65 or above. According to ASC Industry Resources, the percentage of Americans aged 65 and older is projected to increase to 24% of the total population by 2060. Asia Pacific stands as the second-largest region for market growth, owing to its advanced healthcare systems and strict regulatory standards that ensure the high quality of medical devices.
Major players in the electrosurgery generators market frequently participate in mergers and acquisitions to strengthen their market position. This approach allows them to gain access to new technologies, broaden their product offerings, and enter into new geographic regions. The competition among key players in the electrosurgery generators market is fierce, with a focus on driving innovation and increasing market share through strategic actions. The company is proactively extending its reach in emerging markets by forming strategic partnerships and making direct investments.
In May 2024, B. Braun Medical AG initiated its activities at a recently established manufacturing site in Sempach, dedicated to the production of disinfectant and hygiene products. The company has allocated an approximate amount of 75 million Swiss francs for the N.I.C.O. (New Infection Control Operations) facility.
GLOBAL ELECTROSURGERY GENERATORS MARKET KEY PLAYERS- DETAILED COMPETITIVE INSIGHTS
Medtronic
CONMED Corporation
Johnson & Johnson Services, Inc.
Olympus Corporation
B. Braun SE
Aspen Surgical
Medrange Corporation
Applied Medical Resources Corporation
KARL STORZ SE & Co. KG
BD (Becton, Dickinson, and Company)
US Medical Innovations
Others