Selbyville, Delaware, April 22, 2024 (GLOBE NEWSWIRE) -- Radiofrequency Ablation Devices Market Size is estimated to be valued at USD 10.4 billion by the end of 2032. Increasing application scope in oncology, cardiology, pain management, and orthopedics will prove favourable for the industry expansion.
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With clinicians gaining experience and confidence in using radiofrequency ablation (RFA) devices, the range of treatable conditions is expanding. This has compelled several manufacturers to develop advanced RFA devices with features like real-time monitoring, temperature control, and improved energy delivery systems.
For instance, in March 2024, NeuroOne Medical Technologies disclosed the limited commercial launch of OneRF Ablation System, a new thin-film stereoelectroencephalography (sEEG)-driven RF system that helps in recording electrical activity and ablating nervous tissue as well as features temperature controls. The growing focus of regulatory agencies on updating guidelines and standards for RFA devices to ensure safety and efficacy will also drive the market development.
Rising demand for consumables
The radiofrequency ablation devices market from consumables product type segment is expected to record lucrative expansion in the radiofrequency ablation devices industry from 2024 to 2032. The exoansion can be attributed to the growing need for radiofrequency ablation procedures across various medical specialties like oncology, cardiology, pain management, and orthopedics. Continuous advancements in RFA technology are further making way for the development of more sophisticated and specialized consumables tailored to specific procedures and patient needs, adding to the segment development.
Growing deployment in oncology
Radiofrequency ablation devices market from the oncology segment is set to record robust progression from 2024 to 2032, primarily driven by rising usage in the treatment of solid tumors. RFA procedures are minimally invasive, making them an attractive option for patients who are not suitable candidates for surgery and those seeking to avoid the risks associated with more invasive procedures. They offer precise targeting of tumor tissue while sparing adjacent healthy tissues. Increasing need for shorter recovery time and standalone treatment techniques are other factors influencing the product demand.
APAC to emerge as a lucrative industry
Asia Pacific radiofrequency ablation devices market is estimated to record significant CAGR from 2024 to 2032, led by the rising number of government initiatives and healthcare reforms. Many countries in Asia Pacific are implementing healthcare reforms for improving access to quality medical care and reducing the burden of chronic diseases. Significant investments in healthcare infrastructure are leading to the expansion of hospitals, clinics, and specialized treatment centers, further driving the adoption of advanced medical technologies.
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Radiofrequency Ablation Devices Industry Participants
Some of the prominent radiofrequency ablation devices market players include Avanos Medical, Inc., Stryker Corporation, Abbott Laboratories, Inc., Medtronic, Plc., Boston Scientific Corporation, Becton, Dickinson and Company (Venclose, Inc.), AngioDynamics, Inc., Hologic, Inc., and AtriCure, Inc.
These firms are focusing on partnership ventures to proliferate their global presence and customer base. For instance, in January 2024, Boston Scientific Corporation announced the U.S. FDA approval for its FARAPULSE™ Pulsed Field Ablation (PFA) system indicated for the isolation of pulmonary veins in treating drug-refractory, symptomatic, recurrent, paroxysmal atrial fibrillation.
Partial Table of Contents (ToC) of the report:
Chapter 2 Executive Summary
2.1 Radiofrequency ablation devices market 360° synopsis, 2018 - 2032
2.2 Business trends
2.3 Regional trends (Revenue & Volume)
2.4 Product type trends (Revenue & Volume)
2.5 Application trends
2.6 End-use trends
Chapter 3 Radiofrequency Ablation Devices Industry Insights
3.1 Impact on COVID-19
3.2 Industry ecosystem analysis
3.3 Technology & innovation landscape
3.4 Regulatory landscape
3.4.1 U.S.
3.4.2 Europe
3.5 Industry impact forces
3.5.1 Growth drivers
3.5.1.1 Increasing preference for minimally invasive procedures
3.5.1.2 Growing prevalence of chronic diseases
3.5.1.3 Technological advancements in RF ablation devices
3.5.1.4 Growing geriatric population base
3.5.2 Industry pitfalls & challenges
3.5.2.1 Low awareness and availability of alternative treatment methods
3.5.2.2 High treatment cost
3.6 Growth potential analysis
3.6.1 By product type
3.6.2 By application
3.6.3 By end-use
3.7 Porter's analysis
3.8 PESTEL analysis
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