Dublin, Dec. 28, 2023 (GLOBE NEWSWIRE) -- The "Global Radiofrequency-Based Devices Market (By Product, Application, End User, Region), Key Company Profiles, Financial Insights, Recent Developments - Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.
Rapid Advancements and Growing Applications Propel Radiofrequency-Based Devices Market Growth
The global landscape for radiofrequency-based devices is undergoing significant growth with a projected market value of US$ 10.7 billion by 2030. This growth is largely driven by increasing demands for minimally invasive treatments in managing chronic conditions, advancing medical technology, and the integration of radiofrequency applications across diverse medical fields.
According to recent reports, the persistent rise in chronic diseases such as cardiovascular disorders, cancer, and diabetes among the global population is fueling the need for radiofrequency-based therapeutic solutions. As a minimally invasive approach, these devices are becoming pivotal in pain management, aesthetic procedures, tumor ablation, and cardiac rhythm management.
Significant Developments in the Radiofrequency-Based Devices Sector
- Innovations in radiofrequency (RF) technology enhance chronic pain treatment and expand cardiac ablation offerings.
- Strategic acquisitions by market leaders fortify product portfolios and drive industry consolidation.
- Product development initiatives signify a sustained commitment to technology integration and quality enhancement in healthcare practices.
Market Dynamics by Product, Application, and End User
The generators segment within the global radiofrequency-based devices market spearheads growth, attributed to its extensive use in pain management protocols. Alongside, radiofrequency probes, needles, and electrodes are witnessing rising adoption thanks to their effectiveness in varied medical applications, including oncology and cardiology, showcasing significant growth prospects.
In terms of application, the pain management division leads in revenue share, leveraging safe and proven techniques to address chronic pain. Cosmetic applications also claim a substantial market portion, closely followed by cardiology and oncology, areas which are predicted to exhibit accelerated growth rates into the next decade.
Hospitals continue to dominate as the primary end-user, with specialty clinics and ambulatory surgical centers (ASCs) also contributing notably to the market expansion. This is primarily due to the increasing inclination toward patient-centric, cost-efficient, and less stressful environments for medical procedures.
Geographic Market Insights
North America reigns as the dominant market for radiofrequency-based devices, with Europe trailing closely behind. The Asia Pacific region is forecasted to experience the most rapid growth, propelled by a burgeoning patient pool, rising chronic disease prevalence, and an escalating demand for cosmetic procedures.
Comprehensive Market Analysis
The detailed 174-page report with 70 figures and eight tables provides an exhaustive review of the global radiofrequency-based devices market from multiple perspectives, including market growth drivers, challenges, and key company profiles. The analysis spans a timeframe from 2016 to 2030, offering invaluable insights for stakeholders across the medical device landscape.
The provided financial insights and recent developments section chronicles the strategic steps corporations are taking to harness market potential, while an overview of regulatory impacts and technological trends furnishes an informed vantage point for future market predictions and investment decisions.
Companies Mentioned
- Abbott Laboratories
- ALMA Lasers (Sisram Medical Ltd)
- AngioDynamics, Inc.
- AtriCure, Inc.
- Avanos Medical, Inc.
- Boston Scientific Corporation, Inc.
- CONMED Corporation
- Cutera, Inc.
- Diros Technology Inc.
- Medtronic plc
- Merit Medical Systems, Inc.
- Smith & Nephew plc
- Stryker Corporation
- Venus Concept, Inc.
For more information about this report visit https://www.researchandmarkets.com/r/nutibb
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