Market Trends of Electrosurgical Generators Industry
This section covers the major market trends shaping the Electrosurgical Generators Market according to our research experts:
Urology Segment Expected to Hold Major Market Shares
Electrosurgery is a procedure that uses an electric current to cut, remove, or destroy tissue and control bleeding. It is commonly used in various urologic surgeries, such as partial nephrectomy, pyeloplasty, adrenalectomy, radical prostatectomy, and cystectomy. With the increasing use of electrosurgical generators, the market segment for urology is expected to garner a substantial market share.
The rising cancer cases are also contributing to the segment's growth. For instance, as per the report published by the American Cancer Society in January 2022, an estimated 81,180 new cases of bladder cancer, with 61,700 in men and 19,480 in women, were registered in the United States. This shows a high burden of the disease and increases the demand for the resection of the tumor. Cystectomy is a procedure in which the urinary bladder is removed surgically to treat bladder cancer.
Similarly, per the above source, prostate cancer is one of the most common cancers in American men. An estimated 268,490 new cases of prostate cancer were registered in 2022. Hence, the demand for cystectomy and prostatectomy using electrosurgical generators is expected to increase, which ultimately drives the market demand for generators in the urology segment.
Furthermore, in September 2021, Olympus launched its first devices in the new POWERSEAL family of advanced bipolar surgical energy products. The POWERSEAL devices can be used in numerous forms of surgical intervention, including urological surgical procedures. Hence with new product approvals and launches, the demand for electrosurgical generators is anticipated to observe significant growth over the forecast period.
North America Expected to Dominate the Market over the Forecast Period
The market for electrosurgical generators in North America is likely to be dominated by the United States due to the region's sophisticated healthcare facilities and an advanced technology approach. The major factors, such as the increasing burden of chronic diseases like cancer and the growing geriatric population, along with technological advancements, are expected to fuel the market's growth.
For instance, the Canadian Cancer Society estimated 233,900 people in Canada to be diagnosed with cancer by the end of 2022, which is a high count compared to the 229,200 cases in 2021. The increase in cancer cases requires the resection of the tumors, which can be achieved using electrosurgical procedures and is thus expected to drive the market over the forecast period.
Furthermore, according to the Health Authorities in B.C. 2022, the surgical wait time for 90% of skin tumor removal cases in Canada is estimated at 15.2 weeks. Longer wait times for open surgeries will bolster the demand for minimally invasive surgeries such as electrosurgical procedures, boosting the demand for electrosurgical generators across healthcare facilities.
Moreover, the new product approvals and launches by the major market players are helping the market grow. For instance, in January 2022, Ethicon received United States FDA approval for the Megadyne Electrosurgical Generator. It is intended to be used as a general-purpose electrosurgical generator for a wide variety of open and laparoscopic procedures. Hence, the new approval of the electrosurgical generators in the region, in turn, increases the scope of the device towards multiple applications and helps the market to grow over the study period.
