Opportunity: Rising government funding to develop advanced medical treatments

The major focus of government bodies on improving healthcare infrastructure, including critical care infrastructure, in their respective healthcare systems is expected to support the growth of allied markets, including the electrosurgery market.

Government bodies in many developed countries are taking initiatives to improve their existing healthcare systems by increasing healthcare investments in building better infrastructure and making healthcare services more affordable. Listed below are examples of such government initiatives:

# According to the National Health Expenditure Projections (2015ndash;2025), health expenditure in the US is expected to grow at an average rate of 5.8% from 2015 to 2025. The total number of staffed hospital beds in the country has also increased to 931,203.

# According to Statistisches Bundesamt (Destatis), the healthcare expenditure in Germany increased by 4.0% from USD 422.88 billion (EUR 374.2 billion) in 2017 to USD 446.76 billion (EUR 390.6 billion) in 2018, largely due to the third Act to strengthen long-term care that entered into force in January 2017.

Major Growth Influencing Factors:

The growth in electrosurgery market is driven by growing prevalence of chronic diseases, increasing demand for minimally invasive procedures, innovation and technological advancements in electrosurgical instruments. the risks associated with electrosurgical procedures, stringent regulatory framework, and the shortage of surgeons are some of the factors expected to restrain the market growth during the forecast period.

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Market Size Estimation:

The global electrosurgery market in terms of revenue was estimated to be worth $6.2 billion in 2022 and is poised to reach $8.3 billion by 2027, growing at a CAGR of 6.0% from 2022 to 2027.

End Users:

Hospitals, clinics, and ablation centers accounted for the largest share of by electrosurgery market in 2021

Based on end user type, the electrosurgery market is segmented into hospitals, clinics, and ablation centers; ambulatory surgical centers; and research laboratories and academic institutes. Electrosurgical instruments for hospitals, clinics, and ablation centers accounted for the largest share of this market in 2021. The large share and high growth in this segment is attributed to the rising prevalence of chronic diseases.

Geographical Growth Scenario:

Asia Pacific region is is expected to witness the fastest growth during the forecast period

On the basis of region, the electrosurgery market is segmented into North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa. The Asia Pacific region is projected to grow at a highest growth rate during the forecast period. Factors such as growing volume of surgical procedures, increasing healthcare awareness, rising healthcare expenditure are driving the growth of this regional market.

Key Market Players:

Key players in this market are adopting several organic and inorganic growth strategies (such as product launches, agreements, collaborations, acquisitions, and expansions). Some major players in this market are Medtronic plc (Ireland), Ethicon, Inc. (a subsidiary of Johnson Johnson, US), Olympus Corporation (Japan), B. Braun Melsungen AG (Germany), CONMED Corporation (US), Boston Scientific (US), Smith and Nephew Plc (UK), Erbe Elektromedizin GmbH (Germany), KLS Martin (Germany), BOWA-electronic GmbH Co. KG (Germany), The Cooper Companies, Inc. (US), Kirwan Surgical Products LLC (US), Zimmer Biomet Holdings, Inc. (US), and Utah Medical Products Inc. (US).

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