Report ID: 10294009 |
Published Date: 21 Oct 2022 |
Report Format: |
Delivery Timeline: 48-72 Business Hours
REPORT HIGHLIGHT
The radiofrequency ablation devices market is estimated to represent a global market of USD 5.26 billion by 2017 with growth rate of 16.9%.
Market Dynamics
Radio frequency ablation is a process of minimizing pain. It is done through electric current generated through radio wave. The current heats up the affected area, thus reduces the pain from that particular segment. As per the report of American Heart Association (AHA), the success rate of radio frequency ablation of more than 90%. It is quite effective in curing chronic diseases like atrial tachycardia and atrial fibrillation. This technique has done wonders for cancer treatment. According to the World Health Organization (WHO), cancer is the second leading cause of death across the globe. As per the organization, the death counts due to cancer touched 9.6 million in 2018. But the good news is that the radiofrequency ablation can treat this deadly disease and is effective for several types of cancers like kidney, liver and bone.
The emergence of radio frequency ablation devices successfully manages pain and its market is expected to excel in near future. With the aging population and increasing prevalence of chronic diseases, the demand for radio frequency ablation devices is anticipated to rise in future. In terms of revenue generation, it is expected that the pain management market vendors will create a demand of radio frequency ablation devices during the forecast period. The geriatric population is more afraid of diseases and can’t tolerate pain along with invasive treatment. For them radiofrequency ablation is a boon. This technique can help them in pain management with fast relief and healing.
Product Takeaway
The major types of Radiofrequency ablation (minimally invasive procedure) are categorized into capital, disposable and reusable equipment. These products are increasingly used in minimally invasive procedure for conditions such a cardiology and it is estimated to grow with a significant growth rate because of its wide acceptability. Radiofrequency ablation is gaining popularity as compared to open/invasive surgeries. This is because of its instant relief from chronic pain especially in neck, lower back and arthritic joints. This procedure caters low risk of side effects, short recovery duration and less post-procedure complications.
Application Takeaway
Technology wise, the market is divided as Cosmetology, Surgical oncology, Gynecology, Pain management, Cardiology cardiac rhythm management, and Hypertension. Among which, surgical oncology generates the highest revenue. It is highly popular because it offers more convenience to patients in terms of faster recovery, and lower complications. Hypertension application is yielding low revenue at present but holds of promise due to its impressive growth rate.
Further, this technology is playing an imperative role in curing chronic diseases through a rendition of effective and fast result with minimum distress to the patient. Among 10 patients who opt for radiofrequency ablation, 7 experiences relief from their pain.
Regional Takeaway
Geographically Europe and North America are estimated to get high demand of Radiofrequency ablation followed by Asia Pacific. The ablation market of Europe is estimated to cross US$ 3.09 billion till 2025 with a CAGR of 15.2%.
Key Vendor Takeaway
Companies like Accuray, Stryker Corporation, Neurotherm Inc., St. Jude Medical Inc., Diros Technology Inc., Biosense Webster,Kimberly-Clark Corporation, Cosman Medical Inc. are involved in this market. Vendors need to target regions which comprise of high percentage of elderly for high opportunities of revenue.
The market size and forecast for each segment and sub-segments has been considered as below:
Historical Year – 2014 & 2016
Base Year – 2017
Estimated Year – 2018
Projected Year – 2025
TARGET AUDIENCE
Traders, Distributors, and Suppliers
Manufacturers
Government and Regional Agencies and Research Organizations
Consultants
Distributors
SCOPE OF THE REPORT
The scope of this report covers the market by its major segments, which include as follows:
MARKET, BY PRODUCT
Capital equipment
Disposable equipment
Reusable equipment
MARKET, BY APPLICATION
Cardiology and cardiac rhythm management
Surgical oncology
Pain Management
Gynecology
Hypertension
Cosmetology
MARKET, BY REGION
North America
U.S.
Canada
Europe
Germany
France
Rest of Europe
Asia Pacific
India
China
Rest of APAC
Rest of the World
Middle East and Africa
Latin America
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Report ID: 10294009 |
Published Date: 21 Oct 2022 |
Report Format: |
Delivery Timeline: 48-72 Business Hours
