Radiofrequency Ablation Devices Market expected to reach US$ 7,711.72 Mn by 2027 says, The insight Partners
According to the latest study on Radiofrequency Ablation Devices Market Forecast to 2027 - Covid-19 Impact and Global Analysis by Product and Application'. The global radiofrequency ablation devices market was valued at US$ 3,302.55 million in 2019 and is projected to reach US$ 7,711.72 million in 2027; it is expected to grow at a CAGR of 11.5% during 2020–2027. The report provides trends prevailing in the global radiofrequency ablation devices market and the factors driving market along with those that act as hindrances.
In a radiofrequency ablation procedure, the physician uses a device which transmits radiofrequency energy and destroys the target tissue. This technology has been widely used to treat solid tumors, arrhythmias, uterine fibroids, and other medical conditions. The global radiofrequency ablation devices market is driven by factors such as emerging applications of radiofrequency ablation technology and increasing preference for minimally invasive procedures. However, side effects associated with radiofrequency ablation is likely to obstruct the growth of the radiofrequency ablation devices market during the forecast period.
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Radiofrequency Ablation Devices Market Competitive Landscape and Key Development
Avanos Medical, Inc., Stryker, Abbott, Medtronic, Boston Scientific, Bard (BD), Angiodynamic, Hologic, Articure, and Merit medical are among the leading companies operating in the radiofrequency ablation devices market.
Emerging Applications of Radiofrequency Ablation Technology
Radiofrequency ablation is a minimally invasive technique that uses heat and electrical energy to destroy cancer cells and other dysfunctional tissues. Recently, it has been used to treat a wide range of medical conditions. Although it is not a primary treatment of cancer, it is used to treat a spot of tumor causing pain and other medical indications. The technique is also used to treat patients suffering from adrenal gland, breast, bone, kidney, liver, lung, pancreatic, and thyroid cancer. It is also used to treat the precancerous cells in esophagus. Along with oncological treatment, the radiofrequency ablation technology is also being used in the treatment of patients with cardiac conditions, when medicines or other treatment fail to cure these conditions. It is used to treat cardiac arrhythmia where it destroys a small area of the heart tissue that is causing irregular heartbeats. Destroying these cells helps in restoring regular heartbeats.
The radiofrequency ablation technology has gained a lot of attention in dermatology stream of medicinal sciences and has been used for surgical management of skin lesions, benign skin conditions such as freckles, dermatitis papulosanigra, acne, and skin tags. Radio ablation is also widely used in gynecology to treat uterine fibroids.
The radiofrequency ablation devices market for is expected to grow owing to factors such as emerging applications of radiofrequency ablation technology and rising preference for minimally invasive procedures. Moreover, the trend of consistent RFA product launches and approvals are likely to positively impact on the market. However, side effects associated with radiofrequency ablation devices is likely to restrict the market growth.
Radiofrequency Ablation Devices Market Segmentation Review
Based on product, the radiofrequency ablation devices market is segmented into devices and disposables. The disposables segment held the largest share in the global radiofrequency ablation devices market in 2019. Disposables are used in every radiofrequency ablation surgery. These disposables help in transmitting the electric current to the target tissue and hence are the crucial components of the radiofrequency ablation procedure. Moreover, the market players are developing advanced products in order to reduce errors and carry out the procedure efficiently. For instance, Boston Scientific offers an all-in-one electrode, cannula, and injection tube, which is designed to reduce cannula movement, by providing precision and control to the surgeons while operating.
Based on application, the radiofrequency ablation devices market has been segmented into surgical oncology, cardiology, cosmetology, gynecology, and pain management. The surgical oncology segment held the largest share of the market in 2019; owing to wide application of RFA in surgical oncology and increasing number of cancer patients across the globe. Moreover, the same segment is estimated to register the highest CAGR in the market during the forecast period.
Global Radiofrequency Ablation Devices Market – By Product
Global Radiofrequency Ablation Devices Market– By Application
- Surgical Oncology
- Pain Management
Radiofrequency Ablation Devices Market – By Geography
- North America
- Rest of Europe
- Asia Pacific (APAC)
- South Korea
- Rest of Asia Pacific
- Middle East and Africa (MEA)
- South Africa
- Saudi Arabia
- Rest of Middle East and Africa
- South America
- Rest of South America
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