Surgical Energy Generators Market
Number of pages: 100 | Report Format: PDF | Published date: February 22, 2023
Historical Years – 2020 | Base Year – 2021 | Forecasted Years – 2022-2030
|
Report Attribute |
Details |
|
Market Size Value in 2021 |
US$ 472.03 million |
|
Revenue Forecast in 2030 |
US$ 656.4 million |
|
CAGR |
3.7% |
|
Base Year For Estimation |
2021 |
|
Forecast Period |
2022-2030 |
|
Historical Year |
2020 |
|
Segments covered |
Product Type, Application, End User, and Region |
|
Regional scope |
North America, Europe, Asia Pacific, and the Rest of the World (RoW) |
According to the deep-dive market assessment study by Growth Plus Reports, the global surgical energy generators market was valued at US$ 472.03 million in 2021 and is expected to register a revenue CAGR of 3.7% to reach US$ 656.4 million by 2030.
Surgical Energy Generators Market Fundamentals
Surgical energy generators are medical devices used to provide precise and controlled energy to tissues during surgical procedures. These devices are designed to generate various forms of energy, including radiofrequency, ultrasonic, microwave, and electrosurgical. The energy generated by surgical energy generators can be used to cut, coagulate, ablate, or vaporize tissues, depending on the surgical procedure.
Surgical energy generators play a crucial role in minimally invasive surgical procedures, as they provide surgeons with precise control over the energy delivered to tissues, which can help to minimize tissue damage and reduce patient recovery time. These devices are also used in traditional open surgeries, where they provide the surgeon the ability to cut and coagulate tissues with greater precision than traditional surgical tools.
The surgical energy generators market is highly competitive, with a large number of key players operating in it. To stay ahead of the competition, manufacturers are focusing on developing innovative products that offer advanced features, such as real-time monitoring of tissue response, improved safety features, and increased precision. Overall, the surgical energy generators market is expected to continue to grow in the coming years, driven by the increasing demand for minimally invasive surgical procedures and the ongoing development of innovative surgical technologies.
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Surgical Energy Generators Market Dynamics
The rising number of surgical procedures is the major driver for the revenue growth of the global surgical energy generators market. For instance, according to a National Center for Biotechnology Information article released in December 2021, more than 13 million operations were performed in the United States between January 1, 2019, and January 30, 2021. Advancements in technology have led to the development of more advanced surgical energy generators, such as those that use ultrasonic, radiofrequency, or microwave energy. These advancements have improved the precision and efficiency of surgical procedures, and are driving the revenue growth of the global surgical energy generators market.
The global healthcare industry is increasingly focusing on cost-effectiveness, and surgical energy generators are seen as a cost-effective alternative to traditional surgical techniques. The use of surgical energy generators can reduce the need for multiple instruments and procedures, leading to shorter hospital stays, reduced healthcare costs, and improved patient outcomes, thus fueling up the global surgical energy generators market.
However, the high cost of treatments, safety concerns in treatment, and competition from alternative technologies are the major restraints for global market revenue growth.
Surgical Energy Generators Market Ecosystem
The global surgical energy generators market is analyzed from four perspectives: product type, application, end-user, and region.
Surgical Energy Generators Market by Product Type
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Based on the product type, the global surgical energy generators market is segmented into monopolar, bipolar, and combination generators.
The combination generators segment accounted for the largest revenue share of the market in 2021, owing to the adaptability of these devices during electrosurgical operations, as well as their cost-effectiveness and improved patient outcomes. Combination generators are a type of surgical energy generator that provide multiple energy sources in one device. These devices are becoming increasingly popular as they offer a number of benefits over single energy source generators. Combination generators can be used in a variety of surgical procedures and specialties, including laparoscopic and open surgeries, and can provide both cutting and coagulating capabilities. Combination generators can help reduce the need for multiple devices and instruments during surgery, which can lead to shorter surgery times, reduced hospital stays, and cost savings for healthcare providers. These factors contribute to the revenue growth of the combination generators segment.
Surgical Energy Generators Market by Application
Based on the application, the global surgical energy generators market is segmented into orthopedic, cardiology, ENT, bariatric, gynecology, and others.
The cardiology segment accounted for the principal revenue share of the market in 2021, attributed to rising prevalence of cardiac disorders globally and growing demand for minimally invasive cardiac procedures. For instance, according to June 2022 factsheet by WHO, cardiovascular diseases are one of the leading causes of death globally. In 2019, about 17.9 million individuals died from cardiovascular disorders. Cardiac surgery often involves complex procedures that require precise and efficient energy delivery, and surgical energy generators can play an important role in achieving optimal surgical outcomes. Moreover, as technology continues to advance, surgical energy generators are becoming more precise, efficient, and user-friendly, making them an increasingly attractive option for cardiac surgeons. These overall aspects contribute to the revenue growth of the cardiology segment.
Surgical Energy Generators Market by End-user
Based on the end-user, the global surgical energy generators market is segmented into hospitals, specialty clinics, and others.
The hospital pharmacy segment dominated the market with the largest revenue share in 2021, owing to the rising number of surgical procedures in hospitals, which use surgical energy generators in a wide range of surgical procedures, including cardiac, orthopedic, gynecological, urological, and general surgeries. The increasing demand for minimally invasive surgical procedures is driving the revenue growth of the surgical energy generators market, and hospitals are at the forefront of this trend. Hospitals are continually investing in the latest surgical technologies and equipment, including surgical energy generators, to provide their patients with the best possible care. The usage of surgical energy generators in hospitals has several advantages, including increased precision, reduced tissue damage, and faster recovery times. These advantages are specifically important in minimally invasive procedures, where precision and efficiency are essential to achieving optimal surgical outcomes. These overarching variables contribute to the hospital segment’s revenue growth.
Surgical Energy Generators Market by Region
Geographically, the global surgical energy generators market has been segmented into North America, Europe, Asia Pacific, and the rest of the world.
North America dominated the global surgical energy generators market with the largest revenue share in 2021, attributed to the increasing demand for minimally invasive surgical procedures, the growing prevalence of chronic diseases, such as cancer, and the rising geriatric population. Additionally, the high adoption rate of advanced surgical technologies in North America, coupled with the presence of a large number of key players, is also expected to further boost the revenue growth of the surgical energy generators market in the region. Moreover, major companies in the region are also actively generating money for research & development and expanding their production capacities, both of which are contributing to regional growth. For instance, in September 2022, a subsidiary of the U.S. Patent Innovations, LLC called US Medical Innovations, LLC (USMI), announced that it had closed a US$10.2 million private placement deal with a number of parties, including previous partners and new investors. These funds were expected to be used by USMI to increase the production of its Canady Plasma XL-1000 SMART Electrosurgical Generator (XL-1000) and support the development and launch of its Canady Helios Cold Plasma Generator (CHCP) and robotic delivery system for the targeted treatment of cancer.
Surgical Energy Generators Market Competitive Landscape
The prominent players operating in the global surgical energy generators market are:
Surgical Energy Generators Market Strategic Developments
The global surgical energy generators market is estimated to be valued at US$ 656.4 million by 2030.
The surgical energy generators market is expected to register a revenue CAGR of 3.7% during the forecast period from 2022 to 2030.
The rising prevalence of chronic diseases, advancements in technology, and the increasing number of surgical procedures are driving revenue growth in the global surgical energy generators market.
The combination generators segment dominates the surgical energy generators market.
CONMED Corporation, Stryker Corporation, STARmed Co., Ltd., Medtronic plc, and Boston Scientific Corp are among the top market players.
*Insights on financial performance are subject to the availability of information in the public domain