Global Radiofrequency-Based Devices Industry Market Research 2022-2030

  • Product Code:
    RP-ID-10151885
  • Published Date:
    6 Oct 2021
  • Region:
    Global
  • Pages:
    164
  • Category:
    Healthcare & Pharmaceuticals
  • Publisher:
    Pub-ID-32

Impact Analysis on the Growth of Market

Activating Probable Propositions Amidst COVID-19 Crisis

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The Research Report is Updated with 2020 Base Year, 2021 Estimated year and Forecast till 2030 with Market Insights.


With the dip in global production, the GDP has contracted in 2020 and impacted the market across the world. Upon placing a Sample Request, you will receive an updated report with 2020 as base year, 2021 as estimated year and forecast to 2030. This will have market drivers, recovery rate in the market, insights and competitive analysis.



Market Overview:

"In 2021, the global radiofrequency ablation equipment/devices market is estimated to be valued at ~USD 4 billion and is expected to grow at a compound annual growth rate of ~12% during the forecast period 2022-2030. The market is mainly driven by the increasing prevalence of chronic and cardiovascular diseases and the preference for minimally invasive surgery. According to data from the US Centers for Disease Control and Prevention (CDC), it is estimated that by 2060, atrial fibrillation (AF) will affect 17.9 million people in Europe and 12 million people in the United States in 2050, respectively. It is expected to drive growth. 

 

The elderly are more likely to suffer from chronic diseases, driving the demand for efficient treatments, which in turn promotes the radiofrequency ablation market. According to data from the World Health Organization (WHO), it is estimated that by 2050, the world's population of 60 years and over will reach 2 billion, compared with 900 million in 2015. Population groups tend to have the highest disability rates and the greatest demand for effective care and treatment, and this is expected to drive growth.

 

Increasing healthcare costs and preference for minimally invasive surgery have become important factors driving market growth. Radiofrequency ablation is an effective method to treat small cancers. If new cancers appear, it can be repeated. 


According to data from the US Census Bureau, by 2040, global healthcare expenditures are expected to reach 18.28 trillion U.S. dollars, with a compound annual growth rate of 2.6%. This is expected to have a positive impact on the revenue generation of radiofrequency ablation equipment. The increasing prevalence of chronic pain diseases such as arthritis and osteoporosis, as well as improvements in medical infrastructure, will drive market growth. According to data from the US Department of Health and Human Services, 15 million adults suffered severe joint pain due to arthritis in 2015, and by 2040, an estimated 78 million (26%) American adults 18 years and older will be diagnosed Suffer from arthritis.

 

Product information:


According to different products, the market is divided into disposable equipment, capital equipment and reusable equipment. Disposable equipment had the largest market share in 2020 and is expected to witness the fastest compound annual growth rate during the forecast period. Advanced technology can produce large areas of coagulative necrosis in a controlled manner, while being relatively non-toxic and reducing the risk of complications, which promotes the growth of the disposable radiofrequency ablation equipment market. Product releases will drive market growth during the forecast period. In April 2017, Medtronic launched the OsteoCool radiofrequency ablation system in Canada to indicate bone metastasis. This is the only radiofrequency ablation system with dual probe capabilities that can provide personalized, flexible and predictable treatment.

 

Application Information : 


According to application, the market is segmented into oncology surgery, cardiology and heart rhythm management, pain management, gynecology and cosmetology. Surgical oncology had the largest market share in 2020. Because radiofrequency ablation can be used to treat cancer cells to improve the survival rate of high-risk patients with unresectable and refractory tumors, surgical oncology is gaining attention. Radiofrequency ablation reduces potential side effects and shortens recovery time. It can be used for patients with multiple tumors that cannot be treated by open surgery. 


The main factors that promote regional growth are the high prevalence of cancer, technological advancement, high purchasing power, and government support for quality medical care. According to the American Cancer Society, approximately 1,762,450 people will be diagnosed with new cancer cases in the United States in 2019, and 606,880 people will die from the disease. The Asia-Pacific region is expected to show the fastest compound annual growth rate during the forecast period. The introduction of advanced technologies such as multi-needle electrodes shows precision, portability and cost-effectiveness, and is expected to have a positive impact on the regional market. In addition, rising disposable incomes in emerging markets in China and India, improvements in medical infrastructure, and fast-growing economic conditions have promoted growth in the Asia-Pacific region.

 

Radio frequency ablation equipment market share information:


Major industry players include Boston Scientific; Medtronic; Stryker; Cosman Medical; St. Jude Medical; Smith and Nephew; Johnson & Johnson (J&J) Services LLC; and Vascular Dynamics. Major players are strengthening their position in the industry through cooperation, mergers and acquisitions. For example, in September 2018, AngioDynamics acquired BioSentry Tract Sealant System technology and its proprietary radiation dose monitoring platform OARtrac from Surgical Specialties, LLC and RadiaDyne to establish continuous care in the field of oncology. 


This strategy helps the company expand its oncology business. Similarly, in July 2017, Boston Scientific acquired Cosman Medical, Inc., a manufacturer of radiofrequency ablation systems. This further expands Boston Scientific’s product portfolio to include systems such as spinal cord stimulators and deep brain stimulation systems. In November 2016, OSYPKA AG launched the HAT500 radio frequency (RF) ablation system in Europe for the treatment of ventricular tachycardia.

 

Market segments covered by the report: 


The report forecasts global, regional, and national revenue growth, and analyzes the latest industry trends in each sub-segment from 2022-2030. In this research, Kenneth Research has subdivided the global radio frequency. According to the product, application and region ablation equipment market report: Product outlook (revenue, millions of dollars, 2022-2030) disposable equipment capital equipment reusable equipment Application prospects (income, millions of dollars, 2022-2030 Surgical Oncology Cardiology and Heart Rhythm Management Cosmetic Gynecology Pain Management"
 


Geography Analysis:


The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:

  • North America (U.S. & Canada) Market Size, Y-O-Y Growth, Market Players Analysis & Opportunity Outlook
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC(Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market Size, Y-O-Y Growth Market Players Analys  & Opportunity Outlook
  • Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
  • Middle East and Africa  (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market Size, Y-O-Y Growth Market Players Analysis & Opportunity Outlook

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