The Electrosurgical Devices Market is to Touch $8.4 Billion by 2030; Increase in Chronic Diseases Enhancing Investment in State-of-the-Art Healthcare Facilities propels market growth.

Electrosurgical Devices Market size is estimated to reach $8.4 billion by 2030, growing at a CAGR of 5.2% during the forecast period 2024-2030, according to a recent report published by IndustryARC, titled, “Electrosurgical Devices Market – By Product Type (Electrosurgery Generators, Electrosurgery Instruments, Smoke Management Systems, Accessories & Others), By Type (Monopolar, Bipolar), By Application (General Surgery, Gynecology, Cardiology, Urology, Dermatology and Cosmetology, Orthopedics, Neurology, Oncology, Dentistry, Gastrointestinal Surgery), By End-Use Industry (Hospitals, Ambulatory Surgery Centers, Specialized Clinic), By Geography - Global Opportunity Analysis & Industry Forecast, 2024-2030.”

The rising prevalence of chronic diseases coupled with the growing number of surgical procedures is driving the growth of the Electrosurgical Devices Market. Additionally, the increasing investment in advanced healthcare facilities in developing countries is fueling this market expansion.

Geographically, North America held the largest share with 39% of the market in 2023. North America is a hub for medical research and development leading to continuous advancements in surgical techniques and technologies including electrosurgical devices. Additionally, the region has a high investment in the healthcare sector. For instance, according to the Canadian Medical Association, Canada's total health spending was expected to reach more than $250 billion in 2023 or about 12.1% of the country’s GDP making Canada a top spender among OECD countries.

The rise in chronic diseases is driving the demand for electrosurgical devices. Conditions such as diabetes, cardiovascular diseases and cancer require surgery which are increasingly performed using electrosurgical techniques. These devices offer precision, reduced blood loss,and faster recovery times making them ideal for managing chronic conditions. As per the WHO, the increasing toll of non-communicable diseases meant that if the trend were to continue, by 2050, chronic diseases such as cardiovascular diseases, cancer, diabetes and respiratory illnesses, will account for 86% of the 90 million deaths each year. As the global burden of chronic diseases grows, healthcare providers are investing more in advanced surgical technologies to improve patient outcomes. 

Ever since the pandemic, developing countries have been focusing on the healthcare sector. As governments and private sectors allocate more funds to healthcare, there's a growing demand for advanced techniques like electrosurgery, leading to an increased demand for electrosurgical devices from developing countries. As per the Ministry of Commerce, the Chinese government announced that it would allow the setup of wholly foreign-owned hospitals in Beijing, Tianjin, Shanghai, Nanjing, Suzhou, Fuzhou, Guangzhou, Shenzhen and Hainan Island, effective September 2024, to boost its healthcare sector.

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