Radiofrequency Ablation Devices Market
Industry Trend Analysis
In 2014, the global radiofrequency ablation devices market was evaluated around USD 1.57 billion and is expected to reach approximately USD 4.27 billion by 2023 while registering itself at a compound annual growth rate CAGR of 11.80% over the forecast period. Lesser risk of tissue harm and post-procedure contamination, rapid recovery and cost-effectiveness linked with ablation processes are few factors anticipated to boost the global radiofrequency ablation devices industry. These devices are extensively utilized for treatments in the areas of gynecology, cosmetology, pain management, oncology, cardiac rhythm management and oncology. The growing incidence of diseases related to acute pain like arthritis and osteoporosis, particularly in the elderly population along with the advent of technological innovations like bipolar technology and thermocouple sensor is anticipated to encourage the growth of the market over the forecast years. The rising utilization of radiofrequency ablation processes in emerging countries such as Russia, Brazil, India, and China is projected to assist global market as a potential growth opportunity. Fast-improving medical infrastructure, rising patient awareness as well as disposable earnings levels in these economies are anticipated to actuate the application rates of modestly invasive surgical procedures and therefore augmented demand in the regions.
Product Outlook and Trend Analysis
Major product sections of the radiofrequency ablation devices market analyzed and estimated in this study involve reusable equipment, disposable equipment, and capital equipment. The reusable equipment comprises of RF electrodes and probes. Disposable equipment involves needles, cannulas, single-use electrodes and single-use probes. In 2013, disposable equipment was the leading product section due to rising occurrence of hospital-acquired infections along with growing the volume of modestly invasive surgical procedures. The United States FDA splits radiofrequency reusable equipment as a semi-critical device and hence, enforces the stringent rule to regulate the procedure of recycling medical devices in order to eliminate the possibility of contamination. Also, the rise in demand of reusable radiofrequency ablation devices can be assigned to its cost-effectiveness and the rising demand for laparoscopic and endoscopic interventions.
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Application Outlook and Trend Analysis
Major applications for the global radiofrequency ablation devices markets involve gynecology, pain management, hypertension, surgical oncology, cardiac and cardiology rhythm management, and cosmetology. Radiofrequency ablation devices industry for surgical oncology reported for the major market share during 2013 at around 40.0%. The existence of high volumes of procedures as a result of easiness it renders to the patients concerning faster recovery is a major factor assigning to its large market share. Hypertension owing to high unfulfilled needs of the patient and inadequate availability of curative treatments is anticipated to grow at the highest compound annual growth rate over the projected years. Radiofrequency ablation provides cost-efficient treatment for the patients who are suffering from hypertension and implicates not even a single severe complications post the procedure.
Regional Outlook and Trend Analysis
In 2013, North American region was the leading regional radiofrequency ablation devices industry. The existence of high awareness levels amongst patients concerning to treatments by ablation technologies, elevated usage rates of sophisticated technologies and refined reimbursement structure is a few high impact providing driving factors of the market. European region was the second major regional market during 2013. Asia Pacific region is projected to be a high-growth regional market during the projected period.
Competitive Outlook and Trend Analysis
Key industry players in the global radiofrequency ablation devices market are Accuray, Stryker Corporation, St. Jude Medical Inc., Neurotherm Inc., Biosense Webster, Cosman Medical Inc, Halyard Health, Inc., Kimberly-Clark Corporation, Medtronic Plc, C. R. Bard, Inc., Boston Scientific Corporation, AngioDynamics, Inc., AtriCure, Inc., Hologic, Inc., Diros Technology, and Johnson and Johnson. A few major sustainability strategies implemented by these industry players are new product development, mergers and acquisitions, and entering into tactical association with distributors.
The global radiofrequency ablation devices market is segmented as follows –
Radiofrequency ablation generator
Radiofrequency ablation probes
Radiofrequency ablation electrodes
Radiofrequency ablation cannulas
Radiofrequency ablation needles
Radiofrequency ablation single use probes
Radiofrequency ablation single use electrodes
Cardiology and cardiac rhythm management
Rest of Europe
Rest of Asia Pacific
Rest of the World
United Arab Emirates
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