NEW YORK, US, Jan. 24, 2023 (GLOBE NEWSWIRE) -- Facts and Factors has published a new research report titled “Radiofrequency Ablation Devices Market Size, Share, Growth Analysis Report By Application (Cardiology & Cardiac Rhythm Management, Surgical Oncology, Cosmetology, and Gynecology), By Type (Bipolar Radiofrequency Ablation and Unipolar Radiofrequency Ablation), By Product (Disposables, RF Generators, and Reusables), By End-User (Ambulatory Surgical Centers, Hospitals, and Others), and By Region - Global and Regional Industry Insights, Overview, Comprehensive Analysis, Trends, Statistical Research, Market Intelligence, Historical Data and Forecast 2022 – 2030” in its research database.
“According to the latest research study, the demand of global Radiofrequency Ablation Devices Market size & share was valued at approximately USD 3.59 billion in 2021. The market is expected to grow above a CAGR of 11% and is anticipated to reach over USD 10.21 billion by 2030.”
The report analyzes the radiofrequency ablation devices market's drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the global radiofrequency ablation devices market.
Radiofrequency Ablation Devices Market Overview:
Radiofrequency ablation (RFA) is a medical procedure that uses heat energy to relieve pain or decrease the size of the tumor and other growth in the body. The process is used to treat a variety of medical conditions including malignant or benign tumors, chronic neck or back pain, and chronic venous insufficiency observed in legs.
The process is extremely similar to needle biopsy and requires the insertion of a needle-like probe in the patient’s body. Once the device is firmly and accurately inserted, radiofrequency waves are sent starting from the probe to the surrounding tissue in the intended area. This leads to the death of the nearby cells.
Once the cells are dead, the immunity system starts removing them from the system causing an internal reaction and resulting in shrinkage of the nodule size. To place the tip of the probe at the correct point, various supportive devices are used like imaging techniques or ultrasound. The technique is patient friendly since it is minimally invasive, does not require long postoperative time, and can be conducted in a normal hospital setting or in the comfort of the patient's home. Once the process is successfully carried out, the patient can carry out daily functions within 24 hours.
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Key Insights from Primary Research
- As per the analysis, the radiofrequency ablation devices market is likely to grow above a CAGR of around 11% between 2022 and 2030.
- The Radiofrequency Ablation Devices market size was worth around US$ 3.59 billion in 2021 and is estimated to hit approximately US$ 10.21 billion by 2030. Due to a variety of driving factors, the market is predicted to rise at a significant rate.
- The market is projected to grow at a significant rate due to the growing demand for pain management in the healthcare industry
- Based on type segmentation, bipolar radiofrequency ablation was predicted to show maximum market share in the year 2021
- Based on application segmentation, surgical oncology was the leading application in 2021
- On the basis of region, North America was the leading revenue generator in 2021
Industry Growth Drivers
- Growing demand for pain management to drive market growth
The global radiofrequency ablation devices market is projected to grow owing to the increasing number of cancer patients resulting in a rise in research & development and investments in cancer treatments. The RFA technique is mostly used to treat cancer related to the kidney, lungs, liver, adrenal gland, thyroid, and pancreas.
However, the treatment is recommended for cancer patients only when they are not suitable for operational procedures like high-risk patients. Cancer is currently one of the leading causes of death in humans. The medical condition does not have a permanent cure and the medical sector is investing in developing the right cure for the disease. Until a full-proof treatment plan is developed, healthcare professionals use different ways to eliminate or manage cancer cells.
One of the limited but effective methods is the RFA procedure. The radiologist working on the patient used an imaging test to zero down on the specific site where the probe is inserted into the cancer tissue. The global market could further develop owing to the increasing approvals from regional regulatory bodies like the US Food and Drugs Administration and the European Commission for allowing new discoveries and innovations to be used on the patient without serious side effects.
The global market could register growth limitations due to the unawareness of the RFA method in various developing and underdeveloped nations. Most countries lack the necessary supportive healthcare infrastructure which results in the cost of the devices and the treatment plan soaring extremely high. The problem can only be resolved if there are global efforts toward making quality healthcare accessible to all.
Opportunities
- Growing product innovation to provide growth opportunities
The growing product innovation may provide growth opportunities while the postoperative complications could act as a major challenge.
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Competitive Players
The report contains qualitative and quantitative research on the global Radiofrequency Ablation Devices Market, as well as detailed insights and development strategies employed by the leading competitors. The report also provides an in-depth analysis of the market's main competitors, as well as information on their competitiveness.
Some of the main players in the global Radiofrequency Ablation Devices market include;
- Sutter Medizintechnik Gmbh
- AtriCure
- C. R. Bard
- Inomed Medizintechnik GmbH
- Epimed International
- Arthrex
Browse the full “Radiofrequency Ablation Devices Market Size, Share, Growth Analysis Report By Application (Cardiology & Cardiac Rhythm Management, Surgical Oncology, Cosmetology, and Gynecology), By Type (Bipolar Radiofrequency Ablation and Unipolar Radiofrequency Ablation), By Product (Disposables, RF Generators, and Reusables), By End-User (Ambulatory Surgical Centers, Hospitals, and Others), and By Region - Global and Regional Industry Insights, Overview, Comprehensive Analysis, Trends, Statistical Research, Market Intelligence, Historical Data and Forecast 2022 – 2030” Report at https://www.fnfresearch.com/radiofrequency-ablation-devices-market
Radiofrequency Ablation Devices Market: Segmentation Analysis
The global radiofrequency ablation devices market is segmented based on application, type, product, end-user, and region.
Based on product, the global market divisions are disposables, RF generators, and reusables. In 2021, the global market registered the highest growth in the disposables market segment. Various factors are leading the segmental growth. Some of them are the ease of providing care in outpatient settings along with a decrease in morbidity and mortality rates due to RF devices. Disposable products are easier to use because the chances of infection are less with these devices.
For instance, the probe used in the RFA process is needle-like and has to be discarded at every use to avoid the spread of infection. The growing number of arthritis patients could lead to higher demand for the products. Over 2% of the Australian population suffers from rheumatoid arthritis.
Based on end-user, the global market divisions are ambulatory surgical centers, hospitals, and others. The global market is projected to be led by the hospitals segment during the forecast period due to the increasing number of patients. The growth in cancer cases and sections of the population suffering from back and neck pain are projected to drive segmental growth. Poor lifestyle habits, incorrect sitting & standing posture, aging, and other medical conditions are leading causes of back pain which is observed in almost 16 million adults.
Regional Analysis:
- North America to lead the market growth
North America is projected to register the highest growth in the global radiofrequency ablation devices market due to the increasing use of the technique to treat patients. The regional growth may also be driven by the growing number of players supplying products domestically or expanding the consumer database in the international market.
Rampant product innovation, strategic collaborations, and entry into less exposed countries in combination are helping the region generate a high CAGR. Growth in Asia-Pacific is subjected to the rise in healthcare investments as well as growing accessibility to quality medical care in countries like Japan, India, China, and South Korea.
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Recent Industry Developments:
- In January 2021, Medtronic announced the approval from the FDA for itsDiamondTemp Ablation Catheters – P200028
- In October 2021, Venclose Inc obtained FDA approval for Maven endovenous radiofrequency ablation (RFA) catheter
Key questions answered in this report:
- What is the market size and growth rate forecast for Radiofrequency Ablation Devices industry?
- What are the main driving factors propelling the Radiofrequency Ablation Devices Market forward?
- What are the leading companies in the Radiofrequency Ablation Devices Industry?
- What segments does the Radiofrequency Ablation Devices Market cover?
- How can I receive a free copy of the Radiofrequency Ablation Devices Market sample report and company profiles?
Report Scope:
| Report Attribute | Details |
| Market Size in 2021 | USD 3.59 Billion |
| Projected Market Size in 2030 | USD 10.21 Billion |
| CAGR Growth Rate | 11% CAGR |
| Base Year | 2021 |
| Forecast Years | 2022-2030 |
| Key Market Players | Sutter Medizintechnik Gmbh, AtriCure, C. R. Bard, Inomed Medizintechnik GmbH, Epimed International, Arthrex, and others. |
| Key Segment | By Application, Type, Product, End-User, and Region |
| Major Regions Covered | North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa |
| Purchase Options | Request customized purchase options to meet your research needs. |
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The global radiofrequency ablation devices market is segmented as follows:
By Application
- Cardiology & Cardiac Rhythm Management
- Surgical Oncology
- Cosmetology
- Gynecology
By Type
- Bipolar Radiofrequency Ablation
- Unipolar Radiofrequency Ablation
By Product
- Disposables
- RF Generators
- Reusables
By End-User
- Ambulatory Surgical Centers
- Hospitals
- Others
By Region
- North America
- U.S.
- Canada
- Europe
- Asia Pacific
- The Middle East & Africa
- Latin America
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Key Offerings:
- Market Size, Trends, & Forecast by Revenue | 2022−2030
- Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
- Market Segmentation – A detailed analysis by Application, Type, Product, End-User, and Region
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
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