Radiofrequency Ablation Devices Market Size Worth USD 5.6 Billion By 2025 | CAGR: 10.9%
Published Date : 01 / 04 / 19 | Report Format: PDF
The global Radiofrequency Ablation Devices market is expected to grow at growth rate of 10.9% to reach USD 5.6 Billion by 2025.
Radio frequency ablation is a process of minimizing pain through radio wave electric current which heats up the affected area, thus reduces the pain. As per the report from American Heart Association (AHA), the success rate of radio frequency ablation for the treatment of various chronic conditions would be more than 90%. As per the organization, the technique is quite effective in curing chronic diseases such as atrial fibrillation and atrial tachycardia and increasingly accepted for the cancer treatment. Growing number of cancer patients across the global will stimulate the demand for radiofrequency ablation, driving the industry growth. As per the World Health Organization (WHO), cancer is the second leading cause of death across the globe, touched 9.6 million in 2018.
Furthermore, advancement in technologies play an imperative role in development of this market through a rendition of effective and fast result with minimum distress to the patient. It is noted that among 10 patients who opt for radiofrequency ablation, 7 experiences relief from their pain. In addition, aging population coupled with growing awareness among patient population support the market growth. In terms of revenue generation, it is considered to be that the pain management vendors will create a strong demand of radio frequency ablation devices during the future period. However, high cost coupled with lack of skilled personnel in developing regions hamper the market growth to some extent.
- Major types of radiofrequency ablation products are categorized into disposable, capital and reusable equipment
- Radiofrequency ablation is gaining popularity as compared to open/invasive surgeries. This is because of its instant relief from chronic pain especially in lower back, neck and arthritic joints
- Technology wise, the market is categorized as surgical oncology, cosmetology, pain management, gynecology, hypertension and cardiac rhythm management. Among which, surgical oncology generates the highest revenue.
- 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%.
- Companies such as Stryker Corporation, Accuray, Neurotherm, Inc., Diros Technology, Inc., St. Jude Medical Inc., Kimberly-Clark Corporation, Biosense Webster, and Cosman Medical Inc. are profiled in detail
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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
- Surgical Oncology
- Pain Management
MARKET, BY REGION
- North America
- Rest of Europe
- Asia Pacific
- Rest of APAC
- Rest of the World
- Middle East and Africa
- Latin America
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