A defective tissue is ablated using radiofrequency ablation (RFA), a medical procedure that uses the heat produced by high-frequency electromagnetic waves. It is a minimally invasive therapy used in several medical specialties, including cancer, renal denervation for hypertension, pain management, and cardiac rhythm control. RFA aids in the reduction and apoptosis of tumor cells. It is used in pain management to lessen discomfort by heating the nerves that carry nerve impulses.
In 2021, the market value of radiofrequency ablation devices was worth USD 3.9 billion, and by 2030 it will reach USD 10.7 billion, expanding at an 11.32% CAGR during the forecast period.
The market is expanding due to the growing rate of obesity, diabetes, osteoarthritis, cancer, and rheumatoid arthritis, as well as the rise in the number of patients with chronic pain. The high cost of this technology and patients’ lack of understanding will limit market expansion.
Market dynamics
Drivers
The growing rate of chronic diseases and the rise in the elderly population are two major reasons boosting the global market for radiofrequency ablation devices. For instance, only about 11% of older millennials reported having at least two chronic medical illnesses in 2021, compared to about 15% in the US overall. In the United States, 12.1 million people will have AF by 2030, according to the CDC. Also, according to the CDC, 11% of American adults age 18 and older report having everyday pain. RF ablation devices are employed in the treatment of several chronic disorders. Therefore, the rising rate of chronic disorders and the expanding geriatric population is stimulating the growth of the radiofrequency ablation devices market.
Challenge
Product recalls are one of the main obstacles to the expansion of the global market for radiofrequency ablation devices. Most technical difficulties encountered in creating new goods are seen during clinical trials in all locations. Regulatory agencies have the authority to recall devices with problems, such as system malfunctions, after receiving authorization. Such product recalls may have an impact on the market expansion.
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 fluoroscopy has significantly increased with the introduction of both ICE imaging and EAM methods. As a result, demand for RFA devices will increase exponentially in the future.
Market Segmentation
By Product
On the basis of product, the market is segment into disposables, reusable, and RF generators.
In 2021, the disposable segment led the entire market with a significant revenue share. Factors boosting the growth of this market segment are simplicity of care delivery in outpatient settings and a reduction in morbidity and mortality rates due to RF devices. Because disposable goods are less likely to be infect, they are simpler to use.
By Application
On the basis of application, the market is segmented into cosmetology, pain management, surgical oncology, gynecology, cardiology & cardiac rhythm management, and others.
The surgical oncology segment led the market in 2021 due to the rising use of RFA technology to remove and eradicate malignant tumors from patients’ bodies. Radiofrequency ablation procedures use fine-needle equipment to perform more than 1 million biopsies each year. The market for RFA devices will increase as the global infrastructure for cancer treatment and detection expands.
By End-User
On the basis of end-user, the market for RFA devices is segment into hospitals, ambulatory surgical centers, and others.
The hospital segment significantly ruled the entire market in 2020 due to the rising patient population. Factors boosting the market growth of this segment are the rise in cancer diagnoses and the proportion of the population that experiences back and neck pain. Back discomfort affects about 16 million adults in the United States and is primarily cause by poor lifestyle choices, poor sitting and standing posture, aging, and other medical issues.
Regional Analysis
North America was the biggest regional market in 2020, with USD 1.513 billion in revenue and an 11.973% CAGR. The constant rise in cancer incidence, quick technology improvements in RFA and other medical devices, and rising government spending on healthcare facilities drive this market’s overall expansion. buy xanax online without prescription
Furthermore, Asia Pacific is the fastest-growing regional market. The emergence of innovative technologies, such as multi-needle electrodes, and the swift development of healthcare infrastructure in China and India are both heavily promoting the expansion of this industry.
Key Players
- R. Bard
- Boston Scientific Corporation
- Halyard Health
- AtriCure
- AngioDynamics
- Medtronic Plc
- Jude Medical
- Baylis Medical
- Arthrex
- Stryker Corporation
- Hologic
- Johnson & Johnson
- Inomed Medizintechnik GmbH
- Sutter Medizintechnik Gmbh
- Bramsys Indústria e ComércioLtda
- ENDO-FLEX GmbH
- Epimed International
- Sfm Medical Devices Gmbh
In 2021, the market value of radiofrequency ablation devices was worth USD 3.9 billion, and by 2030 it will reach USD 10.7 billion, expanding at an 11.32% CAGR during the forecast period. Factors accelerating the growth of the market are the growing rate of chronic. And cardiovascular disorders and the rising desire for minimally invasive surgeries.
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Drug Delivery Devices Market Report – The global drug delivery devices market will witness a robust CAGR of 7.1%, valued at $239.2 billion in 2021, expected to appreciate and reach $340.45 billion by 2030, confirms Strategic Market Research. In terms of revenue, North America will account for the maximum industry share in 2020.
