The electrosurgical devices market is utilized for minimally invasive surgeries including laparoscopic procedures. These devices plays a vital role in achieving precision and speeding up the process of surgeries. The demand for electrosurgical devices has increased substantially over the last few years owing to rising prevalence of chronic diseases and surgeries. Electrosurgical devices provide improved patient outcomes, faster recovery time, and reduced risk of complications and infection thereby gaining more acceptance among healthcare professionals and patients.

The Global electrosurgical devices market is estimated to be valued at US$ 6,892.4 Mn in 2024 and is expected to exhibit a CAGR of 6.8% over the forecast period from 2023 to 2030.

Key Takeaways

Key players operating in the electrosurgical devices are Bovie Medical Corporation, Medtronic Plc, BOWA-Electronic GmbH & Co. KG, KLS Martin, B. Braun Melsungen AG, Conmed, Olympus Corp., Boston Scientific Corporation, Erbe Elektromedizin GmbH, Symmetry Surgical Inc., Encision Inc., Gala Therapeutics, Inc., Apyx Medical Corporation, and Johnson & Johnson Services, Inc. The key players are focusing on new product launches and geographical expansion strategies to strengthen their market share.

The growing patient inclination towards minimally invasive surgeries owing to benefits like lesser pain, reduced scarring and recovery time has opened new opportunities for players in the electrosurgical devices market. The demand for advanced electrosurgical devices with improved functionalities is on the rise.

Globally, North America dominates the electrosurgical devices market owing to advanced healthcare infrastructure and growing geriatric population suffering from various chronic diseases. However, Asia Pacific region is expected to exhibit the fastest growth over the forecast period driven by improving access to healthcare and rising medical tourism in the region.

Market Drivers

The growing geriatric population worldwide prone to various medical ailments is a key driver bolstering the demand for electrosurgery devices. As per estimates, over 16% of the world's population will be aged 65 and above by 2050. Additionally, rising prevalence of chronic diseases including cancer is also contributing to the market growth. As per WHO, cancer burden is expected to grow by ~70% over the next couple of decades. Thus, growing disease burden will augment the demand for electrosurgical procedures in turn fueling the market growth.

PEST Analysis
Political: Healthcare regulations and guidelines for electrosurgical devices vary across regions and countries and may impact the market. New safety guidelines from regulatory bodies influence manufacturers to adopt product innovations.

Economic: Rise in disposable incomes allows customers to spend more on healthcare and medical devices. Adoption of minimally invasive surgeries drives demand for electrosurgical devices due to lower costs and faster recovery times compared to traditional open surgeries.

Social: Growing geriatric population, increasing prevalence of chronic diseases, and rising acceptance of advanced medical technologies support market growth. At the same time, concerns over device safety and efficacy due limitations of laparoscopic surgeries pose challenges.

Technological: Continuous R&D improves product features such as precision, safety, usability and integration with other medical imaging systems. New product designs focus on minimizing invasiveness and operative risks through advanced energy delivery modalities and monitoring systems. Innovation expands applicability to newer clinical areas.

The North America region accounted for the largest share of the electrosurgical devices market in terms of value in 2024, followed by Europe. Increased adoption of minimally invasive surgeries and strong presence of key industry players drive market growth in these regions.

The Asia Pacific region is expected to witness the fastest growth during the forecast period owing to rising healthcare expenditures, growing medical tourism, increasing incidents of chronic diseases, rising awareness about advanced treatments, and expansion of private healthcare facilities in countries such as China, India, and South Korea.