Meticulous Research®—a leading global market research company, published a research report titled, ‘Electrosurgery Market by Product (Monopolar, Bipolar Instrument, Generator, Smoke Evacuation System, Electrode), Surgery (Obstetrics, Cardiovascular, General, Orthopedic, Oncology, Neurosurgery, Cosmetic), End User (Hospital, ASC)—Global Forecast to 2031.’
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Meticulous Research®'s latest report indicates that the global electrosurgery market is poised to reach $8.99 billion by 2031, marking a 4.8% CAGR from 2024 to 2031. This upward trend is propelled by various factors such as the surge in surgical procedures, the preference for minimally invasive techniques, and the adoption of computer-assisted surgeries. Moreover, the market benefits from the growth of medical tourism, particularly in developing nations, and the increasing incidence of cancers like skin, throat, lip, and cervix cancers, alongside rising chronic diseases due to an aging population.
However, challenges persist, including risks associated with electrosurgical procedures and a shortage of skilled surgeons. Furthermore, concerns about toxic fumes released during these procedures present significant hurdles.
Market Insights and Segmentation
Electrosurgery Generators are expected to lead the market in 2024, driven by their pivotal role in providing high-frequency electrical currents for laparoscopic and open surgeries. The dominance of this segment is attributed to factors such as high costs, technological advancements, and widespread availability.
General Surgery is projected to dominate the market in 2024, encompassing surgeries on abdominal organs, breasts, skin, soft tissues, and specific vascular and endocrine systems. This growth is fueled by factors like an aging population, the preference for minimally invasive techniques, and expanding healthcare facilities.
End User Analysis
Hospitals & Clinics are anticipated to hold the largest market share in 2024 due to their role as primary centers for disease diagnosis and treatment, handling a significant volume of patient visits. The presence of advanced electrosurgery equipment and rising disease burdens contribute to their market dominance.
Ambulatory Surgical Centers also serve as crucial facilities for various surgical procedures.
Regional Outlook
North America is expected to lead the market in 2024, driven by high adoption rates of advanced products, key market players' presence, a well-established healthcare system, and increasing preference for minimally invasive surgeries.
Asia-Pacific is forecasted to register the highest CAGR during the forecast period, fueled by increasing demand for advanced electrosurgery products, technological advancements, and growing healthcare expenditures.
Key Market Players
Major players in the electrosurgery market include Medtronic plc, Stryker Corporation, Johnson & Johnson, CONMED Corporation, Olympus Corporation, and others.
Conclusion
The electrosurgery market presents significant growth opportunities driven by technological advancements, rising surgical procedures, and global healthcare facility expansion. Addressing challenges related to electrosurgery risks and environmental concerns will be critical for sustained growth.Buy Now@ https://www.meticulousresearch.com/Checkout/76480504?utm_source=pdf&utm_medium=social&utm_campaign=product&utm_content=11-06-2024
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