Surgical devices market to exceed $20b in 2033

Surgical energy instruments will see a 7.1% annual growth rate.

The surgical energy instruments market is projected to post a compound annual growth rate (CAGR) of 7.1%, increasing from $10.2b in 2023 to $20.2b in 2033 due to the rise in prevalence of chronic diseases and surging demand for invasive procedures.

In a report, GlobalData said innovations such as thermal ablation devices, electrosurgical generators, RF microneedling devices, laparoscopic instruments, and hyperthermia medical devices are becoming prominent in the market.

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In addition, radiofrequency (RF) generators with monopolar and bipolar devices will drive the surgical energy market. Advanced surgical energy devices have seen increased adoption of traditional surgical techniques, such as reduced bleeding, shorter procedure times, and improved precision. Expertise included gynaecology, urology, oncology, and cardiovascular.

“The latest developments in surgical energy devices have focused on improving ergonomics, enhancing cutting and coagulation capabilities, and addressing the risks associated with energy-related smoke,” Tina Deng, MSc, Principal Medical Devices Analyst at GlobalData, said.