Radiofrequency Ablation Device Market Analysis
Global Radiofrequency Ablation Device market will grow from US$ 9.98 trillion by 2032 up from US$ 4.06 billion in 2023 with CAGR of 10.51 % from 2024 to 2032. The main factors are the growing incidence of diseases, the need to improve the quality of life in the elderly population, and the popularity of less invasive surgical operations.
Radiofrequency Ablation Device Market Outlook
A radio frequency ablation device is an instrument utilized in the treatment of several pathologies through the production of heat derived from the circulating electrical currents of high frequencies. It is widely used in operations such as endoscopic surgery since it enables specific destruction of pathological tissue without affecting the healthy tissue.The main components include the generator which generates the radiofrequency energy and the probe or the electrode that makes use of this energy in the targeted tissues. While performing the procedure, the electrode is passed through the patient’s skin to reach the affected area under the help of ultrasound or CT scan. Cardiology applications of radiofrequency ablation include rhythm control of atrial fibrillation, ventricular tachycardia, and other arrhythmias, as well managing of tumors in the liver, kidney, lung, and bone; Oncology applications include the management of chronic pain through the use of radio-frequency ablation in osteoarthritis, back pains, and other chronic pain disorders, and dermatology applications include management of skin lesions. This option of treatment is considered less intrusive and invasive than surgeries and this tends to come with shorter hospitalization periods and fewer complications.
Market Drivers of Radiofrequency Ablation Devices
Rising Incidence of Chronic Diseases
The prevalence of diseases such as cancer and cardiovascular diseases is constantly increasing, and people look for alternatives to surgery; hence, the need for radiofrequency ablation devices. Such devices operate using high-frequency electrical currents that act therapeutically by distinctly eliminating the abnormally developed tissues without affecting the health-related body tissues. In general, radiofrequency ablation significantly differs from the conventional surgeries due to favorable recovery time, and post-surgery complication rates are often low, making this method very attractive for many patients. This trend is increasing the number of radiofrequency ablation device applications across a multitude of medical specialties increasing patient results and quality of life for patients with chronic diseases receiving treatment.Aging Population:
A growing demand for radiofrequency ablation devices that is attributed to the aging populations in many regions also fuels the markets massive growth. With ageing people desiring for treatments that better their quality of life and less time in the hospital, the use of procedures such as radiofrequency ablation is well advocated. These devices provide a localized treatment of diseases like cancer and chronic pains, and have the advantages over conventional surgeries that include shorter periods of healing, minimal effects on the patient’s general health. The mentioned demographic shift explains the shift in the elderly population towards medical procedures that are less invasive, safe, and do not interfere with day-to-day functioning - thus boosting the demand for radiofrequency ablation devices as a response to changing healthcare requirements.Technological Advancements:
Frequent technological advancements in radiofrequency ablation systems like electrode tips, imaging modality, and energy control are pivotal in the responsiveness of the tools. They increase the benefits which patients and healthcare providers seek specifically; safer and efficient means of treating conditions. Enhanced precision in identifying the abnormally grown tissues while inflicting minimal harm to the rest of the healthy regions explains the changing application of radiofrequency ablation as a perhaps more effective tool that remains increasingly adopted throughout diverse specialties’ medical platforms, consequently boosting the market in the future.Regulatory Support and Healthcare Investments
Availability of favorable policies and increased expenditure on healthcare facilities globally are some of the most important and crucial roles that are necessary for the implementation of radiofrequency ablation devices in the respective practices. These factors facilitate easy entry into the market and create conducive circumstances for the generation of enhanced devices. Granting more convenient and approach to the advanced technologies, state approvals, and infrastructural developments increases the market size, fosters the process of constant innovation, and improves the patients’ condition by offering the better treatment selection in the field of radiofrequency ablation.Asia Radiofrequency Ablation Device Market
The Asia Radiofrequency Ablation Device Market is on the rise on the back of the following factors. Such factors as skyrocketing prevalence of diseases including cancer and heart ailments; the change in population distribution where aged people now make the largest population; the improvements in the standards of healthcare; increase in investments in the said aspect; support by the governments in the Asia-Pacific region; and the knowledge of the benefits that can be derived from minimally invasive surgeries.Global Radiofrequency Ablation Device Company Analysis:
Some of the big market players involved in the production of Radiofrequency Ablation Devices are Boston Scientific Corporation, Abbott Laboratories, AtriCure, Medtronic plc, Stryker, Smith & Nephew plc, Conmed Corporation and Hologic Inc.Global Radiofrequency Ablation Device Company News:
May 2024: Five Innovative Medical Technologies That Will Revolutionize Patient Care in 2024 Have Been Identified by Clarivate.May 2024: Atrial fibrillation clinical trials can now use the Apple Watch, which has been FDA-certified under the Medical Device Development Tools program.
November 2023: The new Symplicity System from Medtronic and the CoolTouch XP Ablation Catheter from Boston Scientific are radiofrequency ablation tools for treating atrial fibrillation and cardiac arrhythmias. Abbott Laboratories has also introduced the Navistar Ablation System to treat ventricular tachycardia.
September 2023: Google Cloud and KARL STORZ GmbH & Co. KG are collaborating to develop AI-driven radiofrequency ablation solutions. The NAVISENT ENT navigation system by Smith & Nephew plc allows surgeons to perform radiofrequency ablation treatments using real-time 3D imaging.
Product -Market Breakup in 3 Viewpoints :
1. Capital Equipment2. Disposable Equipment
3. Reusable Equipment
Application - Market Breakup in 5 Viewpoints :
1. Oncology2. Cardiology
3. Cosmetic Surgery
4. Gynecology
5. Others
End Users - Market Breakup in 3 Viewpoints :
1. Hospitals2. Ambulatory Services
3. Others
Geography - Market Breakup of 18 countries :
North America
- United States
- Canada
- Mexico
- Brazil
Europe
- United Kingdom
- Germany
- France
- Italy
- Spain
- Netherlands
Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
Middle East & Africa
- South Africa
- United Arab Emirates
Rest of the World
Company Insights:
- Overview
- Recent Development
- Product Portfolio
- Revenue
Key Players Analysis:
1. Boston Scientific Corporation, Inc.2. Abbott Laboratories
3. AtriCure, Inc.
4. Medtronic plc
5. Stryker
6. Smith & Nephew plc
7. Conmed Corporation
8. Hologic, Inc.
Table of Contents
1. Introduction2. Research Methodology3. Executive Summary5. SWOT Analysis6. Global Radiofrequency Ablation Devices Market
4. Market Dynamics
7. Global Radiofrequency Ablation Devices- Market Share Analysis
8. Product
9. Application
10. End User
11. Country
12. Key Players
Companies Mentioned
- Boston Scientific Corporation, Inc.
- Abbott Laboratories
- AtriCure, Inc.
- Medtronic plc
- Stryker
- Smith & Nephew plc
- Conmed Corporation
- Hologic, Inc.
Methodology
In this report, for analyzing the future trends for the studied market during the forecast period, the publisher has incorporated rigorous statistical and econometric methods, further scrutinized by secondary, primary sources and by in-house experts, supported through their extensive data intelligence repository. The market is studied holistically from both demand and supply-side perspectives. This is carried out to analyze both end-user and producer behavior patterns, in the review period, which affects price, demand and consumption trends. As the study demands to analyze the long-term nature of the market, the identification of factors influencing the market is based on the fundamentality of the study market.
Through secondary and primary researches, which largely include interviews with industry participants, reliable statistics, and regional intelligence, are identified and are transformed to quantitative data through data extraction, and further applied for inferential purposes. The publisher's in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of their recommendations and advice.
Primary Research
The primary purpose of this phase is to extract qualitative information regarding the market from the key industry leaders. The primary research efforts include reaching out to participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions. The publisher also established professional corporate relations with various companies that allow us greater flexibility for reaching out to industry participants and commentators for interviews and discussions, fulfilling the following functions:
- Validates and improves the data quality and strengthens research proceeds
- Further develop the analyst team’s market understanding and expertise
- Supplies authentic information about market size, share, growth, and forecast
The researcher's primary research interview and discussion panels are typically composed of the most experienced industry members. These participants include, however, are not limited to:
- Chief executives and VPs of leading corporations specific to the industry
- Product and sales managers or country heads; channel partners and top level distributors; banking, investment, and valuation experts
- Key opinion leaders (KOLs)
Secondary Research
The publisher refers to a broad array of industry sources for their secondary research, which typically includes, however, is not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Patent and regulatory databases for understanding of technical & legal developments
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic new articles, webcasts, and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecasts
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 170 |
| Published | July 2024 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value ( USD | $ 4.06 Billion |
| Forecasted Market Value ( USD | $ 9.98 Billion |
| Compound Annual Growth Rate | 10.5% |
| Regions Covered | Global |
| No. of Companies Mentioned | 8 |
