New York, July 05, 2023 (GLOBE NEWSWIRE) -- The Radiofrequency Ablation Devices Market in terms of revenue was estimated to be worth USD 4.3 Bn in 2022 and is poised to reach USD 12.5 Bn by 2032, growing at a CAGR of 11.6% from 2023 to 2032.
Radiofrequency ablation refers to a medical procedure in which heat is produced by medium-frequency alternating current. This current is used to ablate a portion of the heart's electrical conduction system, a tumor, or other damaged tissue. Radiofrequency ablation is typically performed as an outpatient procedure using local anesthetics or conscious sedation anesthesia.
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Key Takeaway
- By Product, the disposable equipment segment generated the largest revenue share in 2022.
- By Application, the surgical oncology segment has dominated the market, and it is growing at the highest CAGR over the forecast period 2023 to 2032.
- By End-User, the hospital category segment held the largest share of the market.
- In 2022, North America dominated the market with the highest revenue share of 37.4%.
- Asia-Pacific will grow at the fastest CAGR from 2023-2032.
Radiofrequency current has two major advantages over low-frequency AC, or DC pulses used earlier. They do not stimulate nerves or heart muscle directly, so they can frequently be used without general anesthesia, and it is very specific for treating the desired tissue without causing a lot of collateral damage. Moreover, the market is mainly driven by the increasing significance of cardiovascular as well as chronic diseases. Also, increasing the preference for minimally invasive surgeries boosts market growth.
Factors affecting the growth of the radiofrequency ablation devices market
There are several factors that can affect the growth of the global radiofrequency ablation devices market. Some of these factors include:
- Increase in the Incidence of Chronic Diseases: A rise in the incidence of chronic diseases boosts the growth of the market.
- Technological Advancements: The various technological advancements will propel the market’s growth.
- Government Support For High-Quality Healthcare: Government support for high-quality healthcare will likely surge the market.
- Rising Demand For Pain Management: Rising demand for pain management leads to the expansion of the market.
- Increasing Geriatric Population: Increasing geriatric population in the market will accelerate growth.
Top Trends in Global Radiofrequency Ablation Devices Market
Radiofrequency ablation (RFA) is a minimally invasive cancer treatment that uses an image-guided method to apply heat to kill cancer cells. A needle electrode is led into a cancerous tumor by RFA using ultrasound, computed tomography, or magnetic resonance imaging. High-frequency electrical currents are then passed through the electrode to ground pads placed on the body, resulting in focused heat that kills the cancer cells surrounding the electrode. Moreover, it is proposed that microwave and radio frequency ablations are the most repeatedly utilized cancer therapy ablation techniques. The availability of radiofrequency ablation devices for the treatment of numerous types of cancer will also upsurge due to the increasing investment in R&D, accelerating the market's growth.
Market Growth
Radiofrequency ablation devices were becoming popular due to ultrasound ablation technology. Moreover, the increasing geriatric population will propel the growth of the market. The geriatric population is more prone to chronic diseases, boosting the demand for effective treatment. The population was prioritizing the implementation of minimally invasive surgeries, and this will likely enhance the growth of the market.
Regional Analysis
North America dominated the market with a revenue share of 37.4%. It is expected that it will continue to dominate over the forecast period. High purchasing power, technological advancements, government support for high-quality healthcare, and a high cancer prevalence are major regional growth drivers.
Asia-Pacific will likely have the fastest CAGR over the forecast period. The regional market will benefit from the introduction of advanced technology like multi-needle electrodes, which offer accuracy, portability, and cost-effectiveness at the same time. Moreover, the expansion of APAC is driven by improved healthcare infrastructure, rising disposable income, and rapidly expanding economic conditions in evolving markets of India as well as China.
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Competitive Landscape
Major market players are concentrating on acquisitions to increase their market share and establish a global presence. Medtronic Plc. announced its intention to acquire Epix Therapeutics Inc. It is a private company of medical devices that develops catheter-based temperature-controlled cardiac ablation devices. This acquisition aims to expand its portfolio of ablation devices, and it now offers physicians advanced devices for treating cardiac arrhythmias.
Market Key Players
- Avanos Medical Inc.
- Arthrex Inc.
- Sutter Medizintechnik GmbH
- AngioDynamics Inc.
- AtriCure Inc.
- Hologic Inc.
- Boston Scientific Corporation
- Acessa Health Inc.
- Medtronic plc
- Stryker Corporation
- EPIX Therapeutics Inc.
- Other Key Players
Scope of the Report
| Report Attributes | Details |
| Market Value (2022) | USD 4.3 Bn |
| Market Size in 2032 | USD 12.5 Bn |
| CAGR (2023 to 2032) | 11.6% |
| North America Revenue Share | 37.4% |
| Historic Period | 2016 to 2022 |
| Base Year | 2022 |
| Forecast Year | 2023 to 2032 |
Market Drivers
The rising incidence of cardiovascular diseases and cancers is one of the key factors driving the market's overall expansion. The market is growing significantly due to the steady growth in cardiac ablation and overall revenue. The market's overall expansion is also significantly aided by the rising demand for pain management, in addition to the increasing incidence of cardiovascular diseases and cancer. The market is expanding steadily throughout the time frame that was expected. Also, one of the primary driving forces behind the market's expansion is the worldwide aging population because senior individuals are more susceptible to chronic diseases.
Market Restraints
The key factors that are severely obstructing the growth of the market include damage to the surrounding blood vessels and nerve from hyperesthesia, excessive itching at the injection site, damage to the structures situated adjacent to the target nerve, damage to muscular tissue from needle insertions, and hyperesthesia.
Market Opportunities
New opportunities for procedural safety have developed because of the global RFA of cardiac arrhythmia advantages. The ability of RFA devices to treat arrhythmia with or without fluoroscopy has significantly improved with the development of EAM techniques and ICE imaging. Hence, its demand is projected to rise exponentially during the forecast period.
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Report Segmentation of the Radiofrequency Ablation Devices Market
Product Type Insight
Disposable equipment is projected to grow fastest and holds the largest market share during the forecast period. The advanced technology that can create large areas of coagulative necrosis is relatively low in toxicity and has a lower risk of complications. Moreover, the product launches will drive market expansion over the forecast period. Medtronic led the OsteoCool RF Ablation system in Canada to detect bone metastases. This one is the only dual-probe RF ablation system that offers individualized, flexible, and predictable treatment.
Application Insight
The market share is dominated by surgical oncology. Radiofrequency ablation can treat cancerous cells and increase the survival rate of high-risk patients with refractory and unresectable tumors. Hence, the surgical oncology segment acquired popularity. Patients with many tumors that cannot be treated with open surgery will have an advantage from RF ablation because it has fewer potential side effects, requiring less time to recover.
End-User Insight
The hospital segment dominated the market due to the extensive use of RF ablation systems in hospitals, and it will likely continue during the forecast period. The reason behind the dominance of the segment is that they provide the highest level of service, and these healthcare facilities are the first choice for diagnosing and treating diseases.
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Market Segmentation
By Product
- RF Generators
- Disposable Equipment
- o Cannulas
- o Needles
- Reusable Equipment
- o Probes
- o Electrodes
By Application
- Cardiology & Cardiac Rhythm Management
- Surgical Oncology
- Pain Management
- Gynecology
- Other Applications
By End-User
- Hospitals
- Ambulatory Surgical Centers
- Other End-Users
By Geography
- North America
- The US
- Canada
- Mexico
- Western Europe
- Germany
- France
- The UK
- Spain
- Italy
- Portugal
- Ireland
- Austria
- Switzerland
- Benelux
- Nordic
- Rest of Western Europe
- Eastern Europe
- Russia
- Poland
- The Czech Republic
- Greece
- Rest of Eastern Europe
- APAC
- China
- Japan
- South Korea
- India
- Australia & New Zealand
- Indonesia
- Malaysia
- Philippines
- Singapore
- Thailand
- Vietnam
- Rest of APAC
- Latin America
- Brazil
- Colombia
- Chile
- Argentina
- Costa Rica
- Rest of Latin America
- Middle East & Africa
- Algeria
- Egypt
- Israel
- Kuwait
- Nigeria
- Saudi Arabia
- South Africa
- Turkey
- United Arab Emirates
- Rest of MEA
Recent Development of the Radiofrequency Ablation Devices Market
- In April 2022, the EnCompass Clamp was introduced by AtriCure as part of its Isolator Synergy ablation system. The platform, which features uniform pressure, parallel closure, and custom power utilizing synergy radiofrequency, will be utilized to ablate cardiac tissue during cardiac surgery to increase the efficiency of concurrent surgical ablations.
- In April 2022, the most recent version of Royal Philips' KODEX-EPD system was released. It includes support for the Medtronic DiamondTemp ablation system and improved mapping and imaging capabilities for RF ablation, such as the brand-new Tissue Engagement Viewer.
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