Electrosurgical Devices Market Size, Share, Growth by 2025

Electrosurgical Devices Market to 2025 - Global Analysis and Forecasts By Product (Electrosurgical Generators, Active Electrodes, Dispersive Electrodes, and Other), Application (General Surgery, Gynecology, Urology, Gastroenterology, Arthroscopy, and Others) and Geography

Publication Month : Oct 2018

  • Report Code : TIPHE100001264
  • Category : Medical Device
  • Status : Published
  • No. of Pages : 145
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The global electrosurgical devices market accounted to US$ 4,828.4 Mn in 2017 and is expected to grow at a CAGR of 6.8% during the forecast period 2018 - 2025, to account to US$ 8,000.9 Mn by 2025.

North America is the largest geographic market and it is expected to be the largest revenue generator duringthe forecast period. North American market is driven by the factors such as, rise in number of surgical procedures as wellas FDA approvals obtained by key players in the Electrosurgical Devices market

 Lucrative Regional Markets

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Market Insights

Rising Demand for Minimally Invasive Surgeries

Minimally invasive surgery (MIS) has the advantages which include less tissue injury, reduced pain, faster oral intake, smaller hospitalization and better cosmetic appearance when compared with open surgery. The benefits as well as the accuracy being offered by minimally invasive surgeries are expected to drive the market for electrosurgical devices. In laparoscopy, the surgical scars are smaller, hospital stays are shorter and the incisions created are much smaller, enabling faster healing and recovery. In recent days laparoscopy is being used widely for bariatric surgery and is also economical compared to the traditional surgery method.

Growing Geriatric Population & Associated Rise in Chronic Diseases

The elderly population is defined as group of people aged 65 and over. Population ageing is poised to become one of the most significant social transformations of the twenty-first century. The number of geriatric population has been increasing rapidly across the globe. According to the data published by the United Nations, in 2017, there were an estimated 962 million people aged 60 or over in the world, which comprised of 13 per cent of the global population. The geriatric population is estimated to grow at a rate of 3% every year. According to the report of American College of Cardiology Foundation, in 2018, Coronary heart disease (CHD) was the leading cause of deaths attributable to cardiovascular disease (CVD) in the US, which is followed by stroke (16.8%), high BP (9.4%), heart failure (HF) (9.0%), and other CVDs (17.9%).

Product Insights

The global electrosurgical devices market by type was led by electrosurgical generators segment. In 2017, the electrosurgical generators segment held a largest market share of 33.0% of the electrosurgical devices market, by product. The electrosurgical generators segment is expected to dominate the market in 2025 since they are the basic component in an electrosurgical device.

Application Insights

The electrosurgical devices market by application was segmented into general surgery, gynecology, urology, gastroenterology, arthroscopy and others. The general surgery segment held the largest share of the market, by application. The general surgery is likely to dominate in the forecast period owing to to the rising demand for the procedure.

 Electrosurgical Devices Market, by Application

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Electrosurgical Devices Market: Strategic Insights

electrosurgical-devices-market
Market Size Value inUS$ 4,828.4 Million in 2017
Market Size Value byUS$ 8,000.9 Million by 2025
Growth rateCAGR of 6.8% from 2018-2025
Forecast Period2018-2025
Base Year2018
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Acquisitions and product launches were observed as the most adopted strategy in global electrosurgical devices industry. Few of the recent product launch and acquisitions and others are listed below:

2018: In May, 2018, Olympus launched and received the approval for the ESG-300 Electrosurgery Generator. This is the latest generation of electrosurgical devices developed majorly for GI and pulmonary.

2017: In January, 2018, Ethicon acquired Megadyne Medical Products, Inc., a company manufacturing electrosurgical tools used in operating rooms. The acquisition has helped in developing better electrosurgical tools to a broader market through Ethicon’s extended global network.

ELECTROSURGICAL DEVICES - MARKET SEGMENTATION

By Product

  • Electrosurgical Generators
  • Active Electrodes
  • Dispersive Electrodes
  • Other

By Application

  • General Surgery
  • Gynecology
  • Urology
  • Gastroenterology
  • Arthroscopy
  • Others

By Geography

•   North America

  • U.S.
  • Canada
  • Mexico

•   Europe

  • France
  • Germany
  • UK

•   Asia Pacific (APAC)

  • China
  • India
  • Japan

•   Middle East & Africa (MEA)

  • Saudi Arabia
  • South Africa
  • UAE

•   South America (SAM)

  • Brazil

Company Profiles

  • Olympus Corporation
  • Medtronic
  • Ethicon US, LLC
  • Boston Scientific Corporation
  • B. Braun Melsungen AG
  • CONMED Corporation
  • Erbe Elektromedizin GmbH
  • Kirwan Surgical Products, LLC
  • BOVIE MEDICAL
  • Parkell, Inc.
Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

Product , Application and Geography

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina

Frequently Asked Questions


Which is the potential market for the electrosurgical devices in terms of region?

North America is that the largest geographic market and it's expected to be the biggest revenue generator throughout the forecast amount.

What are the driving factors for the electrosurgical devices market across North America?

North America’s market is driven by the factors like, rise in variety of surgical procedures and FDA approvals obtained by key players within the Electrosurgical Devices market.

What will be the CAGR of electrosurgical devices market?

The electrosurgical devices market is predicted to grow at a CAGR of 6.8% throughout the forecast period.

What would be forecast period in the market report?

The market report contains the forecast of 2018 – 2025

What are the strategies adopted by the top market players to penetrate across emerging regions?

Acquisitions and product launches were ascertained as the most adopted strategy in world electrosurgical devices business.

The List of Companies

1. Olympus Corporation
2. Medtronic
3. Ethicon US, LLC
4. Boston Scientific Corporation
5. B. Braun Melsungen AG
6. CONMED Corporation
7. Erbe Elektromedizin GmbH
8. Kirwan Surgical Products, LLC
9. BOVIE MEDICAL
10. Parkell, Inc.

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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