Global Radiofrequency Ablation Devices Forecasted to Reach $16.84 Billion by 2034

Dublin, April 02, 2024 (GLOBE NEWSWIRE) -- The "Global Radiofrequency Ablation Devices Market Analysis & Forecast to 2024-2034" report has been added to ResearchAndMarkets.com's offering.

The global radiofrequency ablation devices market accounted for USD 4.87 billion in 2023 and is expected to reach at USD 16.84 billion by 2034 with a CAGR of 11.94% during the forecast period 2024-2034.

Increasing incidence of chronic & cardiovascular diseases (CVDs), growing inclination towards minimally invasive surgeries, rising elderly population, a heightened demand for efficient treatment, increase in healthcare-related spending, growing prevalence of chronic pain disorders such as arthritis & osteoporosis, improvements in healthcare infrastructure, surge in research & development efforts and growing introduction of innovative radiofrequency ablation devices are some of the key factors boosting the market growth.



Growing introduction of innovative radiofrequency ablation devices is predicted to boost the market growth during the forecast period. Radiofrequency ablation (RFA) is a medical procedure that utilizes heat radiation to alleviate pain and reduce the size of tumors and other abnormalities. Conditions such as chronic neck or back pain, as well as chronic venous insufficiency in the legs, are just a few examples of medical ailments that can be effectively treated using this method.

By component, disposable equipment was the highest revenue-grossing segment in the global radiofrequency ablation devices market in 2023 owing to the reducing the risk of complications and the increasing introduction of new products by industry participants. Additionally, reusable equipment is predicted to grow at the fastest CAGR during the forecast period owing to the growing investment by major market players, and increasing approvals of novel devices. For instance, in June 2023, The U.S. Food and Drug Administration (FDA) has received a 510(k) application for NeuroOne Medical Technologies' OneRF Ablation System. NeuroOne Medical Technologies is committed to improving surgical alternatives and results for patients with neurological illnesses.

By application, surgical oncology was the highest revenue-grossing segment in the global radiofrequency ablation devices market in 2023 owing to the rising incidence of cancer, an uptick in research & development endeavors, and surge in technological advancements. Additionally, cardiology & cardiac rhythm management is predicted to grow at the fastest CAGR during the forecast period owing to the growing risk of developing Atrial Fibrillation (AF), increasing preference for the catheter ablation approach, and heightened introduction of advanced devices.

By end-user, hospital was the highest revenue-grossing segment in the global radiofrequency ablation devices market in 2023 as hospitals serve as the primary location for RF ablation procedures, supported by favorable reimbursement policies & adequate infrastructure for conducting such procedures, and increasing introduction of new devices.

Additionally, ambulatory surgery centers is predicted to grow at the fastest CAGR during the forecast period owing to the demand for ambulatory surgery centers (ASCs) is on the rise. These centers specialize in providing outpatient surgical procedures, including radiofrequency ablation, without the need for hospital admission. ASCs offer numerous advantages to both patients and healthcare providers, such as reduced costs, quicker recovery periods, increased convenience, and improved patient satisfaction levels.

North America is anticipated for the highest revenue share during the forecast period owing to the widespread occurrence of cancer, rapid technological progress, increased government backing for quality healthcare, and rising approvals from regulatory agencies.

Additionally, Asia Pacific region is predicted to grow at fastest CAGR during the forecast period owing to the growing adoption of cutting-edge technologies such as multi-needle electrodes, which offer precision, portability, & cost-effectiveness, rising disposable income, enhancements in healthcare infrastructure, surge in prevalence of chronic disease, and heightened efforts towards expansion by market participants.

Report Scope:

• Base Year: 2023
• Forecast Period: 2024-2034

Study Coverage

• Market Forecast by Type, Material, Product, and End-user
• Market Forecast for 5 Regions and 17+ Countries
  • North America (U.S. and Canada)
  • Europe (Germany, France, UK, Spain, Italy, Russia, Rest of Europe)
  • Asia Pacific (China, Japan, India, Australia, South Korea, Rest of APAC)
  • Latin America (Brazil, Mexico, Argentina, Rest of LATAM)
  • MEA (South Africa, GCC, Rest of MEA)
• Company Profiles of Top 10+ Major Market Players
  • Johnson & Johnson Services Inc.
  • Abbott
  • Stryker
  • AngioDynamics
  • Smith & Nephew
  • Medtronic
  • Boston Scientific Corporation

Key Attributes:

Market Segmentation:

Radiofrequency Ablation Devices Market Analysis & Forecast by Component 2023 - 2034:

• Capital Equipment
• Disposable Equipment
• Reusable Equipment

Radiofrequency Ablation Devices Market Analysis & Forecast by Application 2023 - 2034:

• Cardiology & Cardiac Rhythm Management
• Gynecology
• Cosmetology
• Pain Management
• Surgical Oncology

Radiofrequency Ablation Devices Market Analysis & Forecast by End-user 2023 - 2034:

• Hospital
• Research Laboratories
• Ambulatory Surgery Centers

For more information about this report visit https://www.researchandmarkets.com/r/pti065

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• Global Radiofrequency Ablation Devices Market