The global electrosurgery accessories market is anticipated to be worth US$ 5.26 Bn in terms of revenue in 2022. The market is projected to expand at a CAGR of 5.4% to reach a market size of US$ 8.91 Bn by 2032.
| Attributes | Details |
|---|---|
| Electrosurgery Accessories Market CAGR | 5.4% |
| Electrosurgery Accessories Market (2022) | US$ 5.26 Billion |
| Electrosurgery Accessories Market (2032) | US$ 8.91 Billion |
Electrosurgery is a type of surgical procedure which enables the surgeon to make precise cuts in the tissues due to which the surgery becomes minimally invasive and prevents excessive blood loss and damage to the adjoining tissues. Electrosurgery works on the principle of passing high frequency electric current that cuts the tissue by the movement of electrons due to voltage.
There are three main segments of the electrosurgery market, namely electrosurgical generators, electrosurgical instrument and accessories and smoke management systems. Electrosurgical accessories market is also broadly classified into three main segments namely patient return electrodes, cords, adapters and cables, and others.
Due to technological advancements in the field of electrosurgery, and new research being carried out in this field, this type of surgical procedure has become popular in almost all the type of surgeries performed. In addition, a rise in the geriatric population across the world and rise in the popularity of cosmetic surgeries is contributing to the steady growth of the global electrosurgery accessories market.
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Demand for electrosurgery equipment and accessories is growing in hospitals and specialized clinics as these are now often used in outpatient operations. The procedure of electrosurgery shortens hospital stays, lower drainage volumes, and minimize blood loss, which increases their usage in outpatient procedures. Therefore, the broad variety of benefits presented by electrosurgery has stretched out the application of electrosurgery devices and accessories in multiple surgical procedures.
Due to the extensive usage of devices like bipolar scissors, diathermy leads, bipolar leads, and diathermy quivers, among others, electrosurgical accessories are essential in medical equipment. Preference for electrosurgery accessories has grown due to the enormous demand for these accessories caused by the growth in the number of surgical procedures such as cardiovascular surgery, gynecological surgery, general surgery, and others across the world.
Furthermore, the growing number of hospitals coupled with the rising number of patient admissions and burgeoning inclination toward outpatient procedures are also contributing to the growth of this market. Furthermore, an increase in demand for cosmetic surgeries as well as anti-aging surgeries simultaneously increases the demand for electrosurgery and its accessories.
The growing proportion of the geriatric population results in a growing prevalence of chronic diseases. This contributes to a rise in the number of surgeries performed across the world including electrosurgery which is another factor contributing to the demand for electrosurgery accessories.
The development of this market is also being aided by growing awareness of and demand for minimally invasive procedures and technical advancements that have made electrosurgery accessories more effective and efficient. One of the factors causing their widespread popularity is their higher dependability coupled with better levels of accuracy.
The market for electrosurgery devices is currently fragmented, with a few competitors holding the lion's share of the market share. But recent market changes and a growing necessity for pioneering technology are enabling several new rivals to enter the market. The field of electrosurgery is undergoing special research and development. Almost all types of operations now use this kind of surgical technique. In the area of electrosurgery accessories, market participants are making several technical improvements and are concentrating on accelerating the launch of advanced electrosurgical accessories.
Recent developments by market players have made it possible to use hegemonic electrosurgical accessories with greater precision and fewer complications. The demand for these accessories is rising as manufacturers are providing the latest electrosurgery accessories that are easy to use and leave no contamination behind after procedures.
The electrosurgery accessories market is anticipated to increase in revenue due to the rising number of new products being introduced using cutting-edge technology. For instance, to allow effective, safe, and reliable ESD performance in a brief treatment period, Olympus Corporation released the dual knife J endoscopic submucosal dissection (ESD) in 2018.
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A steadfast improvement in the technology of electrosurgery, huge amount of cutting edge research done by the leading global market players in the field of electrosurgery, a sharp rise in the geriatric population across the globe, an increase in demand of cosmetic surgery and greatly improving healthcare facilities in the emerging economies of India, China and Brazil are the main market drivers of the electrosurgery accessories market across the globe.
Due to these robust market drivers, the electrosurgery market is poised to witness a sustained growth in the coming decade. In addition, a growing number of people suffering from obesity is leading to an increase in the bariatric surgeries and also a huge push for increased healthcare spending in economies of China and India are also factors that are contributing to the growth of the electrosurgery accessories market.
Faster recovery, fewer post-surgical infections and improved accuracy during surgery are the major advantages of electrosurgery, due to which its popularity is rising tremendously.
In the lucrative market of North America, specifically the United States, there is a trend of purchasing electrosurgery accessories in bulk that is resulting in price pressure on the manufacturers and distributors and a high number of product recalls are some of the restraining factors in the electrosurgical market. In addition, a rise in other non-invasive surgical procedures and stiff competition among the leading market players are also acting as restraints in the global electrosurgery market.
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North America is the dominant and the most lucrative market for electrosurgery accessories market. The reasons for this are the increasing number of surgical procedures being performed in this region, rapid technological advancements and increased government funding are fuelling the growth of electrosurgery accessories market in this region.
Europe is the second most lucrative market for this type of surgery. However, it is the Asia-Pacific region that is going to be the fastest growing electrosurgery accessories market in the coming decade. A huge unmet demand for quality healthcare, increased spending by the governments and healthcare reforms in this region and a high growth rate of population are the main factors contributing to the popularity of electrosurgery accessories market in this region.
Key market players in the electrosurgery accessories market include Bovie Medical Corporation, Covidien plc, Olympus Corporation, Ethicon, and KLS Martin Group among others.
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, types and applications.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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Electrosurgery Accessories Market
