A medical operation known as radiofrequency ablation (RFA) uses heat radiation to reduce the size of tumors and other growths in the body or to relieve discomfort. Numerous medical disorders, such as benign or malignant tumors, persistent neck or back pain, and chronic venous insufficiency felt in the legs, are treated with this method. The procedure necessitates the introduction of a needle-like probe into the patient’s body and is quite similar to a needle biopsy.
The market for radiofrequency ablation devices in 2021 was USD 3.9 billion and will reach USD 10.7 billion by 2030, growing at an 11.32% CAGR during 2021-2030.
Key Industry Drivers
- The rising rate of chronic & cardiovascular diseases and the rising desire for minimally invasive surgeries drive the market. Patients choose minimally invasive procedures more frequently because they are less painful, leave fewer scars, and reduce the risk of infection from open surgery. By 2060, 17.9 million people in Europe and 12 million Americans are expected to have atrial fibrillation (AF), as per the Centers for Disease Control and Prevention (CDC).
- The increasing geriatric population, as well as increasing life expectancy, will drive growth. Geriatric individuals are more prone to chronic diseases, which drives the demand for highly effective treatment, boosting the RF ablation market.
Market Restraints
Serious harm to the nerve and surrounding blood vessels caused by needle injection, hyperesthesia, damage to structures adjacent to the target nerve, muscular tissue damage, and excessive itching at the injection site are the major factors hampering market growth.
In view of the item, the market is trifurcated into dispensable, capital, and reusable gear. Dispensable hardware represented the biggest piece of the pie in 2018 and is supposed to witness the quickest CAGR over the conjecture period. Trend setting innovation with the capacity of making enormous districts of coagulative putrefaction in a controlled way, being moderately low harmful, and diminished the gamble of entanglements drive the development of the expendable radiofrequency removal gadgets market.
Item dispatches will drive market development over the gauge period. In April 2017, Medtronic sent off the OsteoCool RF Removal framework in Canada for the sign of bone metastases. This is the main RF removal framework with double test capacities that gives the modified, adaptable, and unsurprising treatment.
Key opportunity
Global improvements in RFA of Cardiac Arrhythmia have created new opportunities for procedural safety. The ability of RFA devices to treat arrhythmia with or without the use of fluoroscopy has significantly improved with the introduction of both ICE imaging and EAM techniques. As a result, the demand will increase exponentially in the future.
Developing markets such as China, India, and Brazil present enormous growth opportunities for RF ablation devices for pain management. The expanding economy and strengthened insurance policies are major contributors. Moreover, the growing geriatric population in developing countries will offer significant opportunities for companies operating in the RF ablation devices market.
Segmentation analysis
- On the basis of product, the radiofrequency ablation devices market is segmented into disposables, reusables, and RF Generators.
In 2020, the disposables segment held a significant position in the market with a consistent CAGR. The disposable radiofrequency ablation devices market is growing due to advanced technology that can create large regions of coagulative necrosis in a controlled manner, is relatively low toxic, and has a lower risk of complications.
- In terms of application, the radiofrequency ablation devices market is segmented into gynecology, cosmetology, pain management, surgical oncology, cardiology & cardiac rhythm management, and others.
In 2020 surgical oncology ruled the overall market with a considerable market share. Surgical oncology’s main aim is to remove the cancerous tissue present in the body.
- On the basis of end-user, the radiofrequency ablation devices market is segmented into hospitals and ambulatory surgical centers.
The hospital segment ruled the overall market in 2020 and will grow rapidly during the forecast period. A significant share of the market segment is due to the widespread adoption of radiofrequency ablation systems in the hospital. People prefer these healthcare settings for the diagnosis and treatment of diseases because they provide the best service possible.
- Regionally the radiofrequency ablation devices market is studied across Europe, North America, Asia Pacific, and the rest of Asia Pacific.
North America was the major market contributor in 2020 with a 11.973% CAGR and total revenues of 1.513 billion. The continuous rise in cancer cases, quick technological advancements in RFA and other medical devices. And higher government spending on healthcare facilities drive this market’s overall expansion.
Asia Pacific region will expand rapidly. The emergence of new technology, such as multi-needle electrodes, and the swift development of healthcare infrastructure in China and India are both heavily promoting the expansion of this market.
Key Players analysis
- Inomed Medizintechnik GmbH
- Boston Scientific Corporation
- Medtronic Plc
- Stryker Corporation
- Halyard Health
- Epimed International
- Sutter Nedizintechnik GmbH
- Johnson & Johnson
- AngioDynamics
- Baylis Medical
- Other Players
The market for radiofrequency ablation devices in 2021 was USD 3.9 billion. And will reach USD 10.7 billion by 2030, growing at an 11.32% CAGR during 2021-2030. The rising rate chronic pain sufferers due to obesity, diabetes, osteoarthritis, cancer. And rheumatoid arthritis is boosting the market growth rate.
Developing medical care use and inclination for negligibly obtrusive medical procedures has turned into a central point in driving the market development. Radiofrequency removal is a viable therapy for little malignant growths and can be rehash assuming new disease shows up. As indicated by the U.S. Registration Department, worldwide medical services spending is expect to arrive at USD 18.28 trillion by 2040, at a CAGR of 2.6%. This is expect to impact the income age from radiofrequency removal gadgets decidedly.
Rising predominance of ongoing torment problems, for example, joint pain and osteoporosis combined with further developing medical services framework will move market development. As indicated by the U.S. Branch of Wellbeing and Human Administrations, in 2015, 15 million grown-ups were experiencing serious joint agony because of joint pain. And by 2040 an expect 78 million (26%) U.S. grown-ups matured 18 years or more are expect to be determine to have joint pain.
Related Reports:
Green Hydrogen Market Report – The global green hydrogen market will witness a robust CAGR of 55.1%. Valued at $1.45 billion in 2021, expected to appreciate and reach $75.72 billion by 2030, confirms Strategic Market Research.
