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® predicts the global electrosurgery market will reach $8.99 billion by 2031, growing at a CAGR of 4.8% from 2024. Factors such as the increase in surgeries, rising demand for minimally invasive techniques, and the growing adoption of computer-assisted surgeries are driving the market. The rise of medical tourism in developing nations, a surge in cancer incidences, and an aging population with chronic illnesses also contribute to the market's expansion.
Market Challenges and Opportunities:
While the market outlook is promising, it faces challenges like risks related to electrosurgical procedures, a lack of skilled professionals, and concerns over the toxic fumes released during surgeries.
Market Segmentation:
- Electrosurgery Generators: Expected to dominate in 2024 due to their critical role in surgical procedures and continued technological advancements.
- General Surgery: Forecasted to lead the market in 2024, driven by the aging population and demand for minimally invasive surgical solutions.
End-User Analysis:
- Hospitals & Clinics: Set to hold the largest market share in 2024, driven by their key role in disease diagnosis and treatment.
- Ambulatory Surgical Centers: These centers are becoming key contributors to the market.
Regional Insights:
- North America: Expected to maintain the largest market share in 2024, supported by strong adoption of advanced technologies and a well-established healthcare system.
- Asia-Pacific: Predicted to grow the fastest, driven by increasing demand for advanced surgical devices and rising healthcare expenditures.
Key Market Players:
Top companies include Medtronic plc, Stryker Corporation, Johnson & Johnson, and Olympus Corporation.
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Meticulous Research® was founded in 2010 and incorporated as Meticulous Market Research Pvt. Ltd. in 2013 as a private limited company under the Companies Act, 1956. Since its incorporation, the company has become the leading provider of premium market intelligence in North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
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