Overview and Scope
Radiofrequency ablation devices are medical devices that generate heat from medium-frequency alternating currents to ablate or destroy abnormal tissue. It destroys cancerous tissue and manages chronic pain by interrupting pain impulses.
Sizing and Forecast
The radiofrequency ablation devices market size has grown rapidly in recent years. It will grow from $4.27 billion in 2023 to $4.84 billion in 2024 at a compound annual growth rate (CAGR) of 13.3%. The growth in the historic period can be attributed to clinical acceptance, rise in chronic diseases, patient demand, regulatory approvals, training and education.
The radiofrequency ablation devices market size is expected to see rapid growth in the next few years. It will grow to $7.6 billion in 2028 at a compound annual growth rate (CAGR) of 11.9%. The growth in the forecast period can be attributed to growing geriatric population, regenerative medicine, value-based healthcare, telemedicine integration, shift towards minimally invasive procedures. Major trends in the forecast period include portable ablation devices, combination therapies, cancer ablation techniques, enhanced safety features, remote and robotic assistance.
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Segmentation & Regional Insights
The radiofrequency ablation devices market covered in this report is segmented –
1) By Product Type: Disposables Equipment, Reusables Equipment, Capital Equipment
2) By Application: Oncology, Cardiology And Cardiac Rhythm Management, Gynecology, Pain Management, Other Applications
3) By End-User: Hospitals, Ambulatory Surgical Centers, Other End Users
North America was the largest region in the radiofrequency ablation devices market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the radiofrequency ablation devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
Increasing chronic diseases are driving the growth of the radiofrequency ablation devices market going forward. Chronic diseases are problems that last a year or longer, necessitating continuing medical care, restricting everyday activities, or both. Radiofrequency ablation devices are used in chronic diseases to relieve people with chronic and arthritic joint pain. It is often used to shrink the size of tumors, nodules, or other growths in the body. For instance, in January 2023, according to the National Library of Medicine, a US-based biomedical library, it was projected that by the year 2050, the number of individuals aged 50 years and older who have at least one chronic illness would surge by 99.5%, rising from 71.522 million in 2020 to 142.66 million. As a result, increasing chronic diseases are propelling the growth of the radiofrequency ablation devices market.
Key Industry Players
Major companies operating in the radiofrequency ablation devices market report are Johnson And Johnson Co, Abbott Laboratories, Medtronic PLC, Siemens Healthineers, Becton, Dickinson and Company, Koninklijke Philips NV, Stryker Corporation, Boston Scientific Corporation, Olympus Corporation, Smith And Nephew PLC, Ethicon Inc., Hologic Inc., Arthrex Inc., Halyard Health Inc., BIOTRONIK SE and Co KG, Merit Medical Systems Inc., Conmed Corporation, Avanos Medical Inc., ArtiCure Inc., AngioDynamics Inc., Biosense Webster Inc., Baylis Medical Company Inc., Sutter Medizintechnik GmbH, OSYPKA AG, Inomed Medizintechnik GmbH, St. Jude Medical Inc., Epimed International Inc.
The radiofrequency ablation devices market report table of contents includes:
1. Executive Summary
2. Radiofrequency Ablation Devices Market Characteristics
3. Radiofrequency Ablation Devices Market Trends And Strategies
4. Radiofrequency Ablation Devices Market – Macro Economic Scenario
5. Global Radiofrequency Ablation Devices Market Size and Growth
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31. Radiofrequency Ablation Devices Market Other Major And Innovative Companies
32. Global Radiofrequency Ablation Devices Market Competitive Benchmarking
33. Global Radiofrequency Ablation Devices Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Radiofrequency Ablation Devices Market
35. Radiofrequency Ablation Devices Market Future Outlook and Potential Analysis
36.Appendix
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