iCrowd Newswire – May 26, 2020
The radiofrequency ablation devices market was valued at US$ 3,302.55 million in 2019 and is projected to reach US$ 7,711.72 million by 2027; it is expected to grow at a CAGR of 1.5% during 2020–2027.
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 devicesmarket is driven by factors such as emerging applications of radiofrequency ablation technologyand increasing preference for minimally invasive procedures. However, side effects associated with radiofrequency ablationis likely to obstruct the growth of the radiofrequency ablation devices market during the forecast period.
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Leading companies operating in this research are Avanos Medical, Inc., Stryker, Abbott, Medtronic, Boston Scientific, Bard (BD), Angiodynamic, Hologic, Articure, and Merit medical.
Based on the product, the global radiofrequency ablation devices market is segmented into devices and disposables. The disposables segment accounted for the largest market share in the global radiofrequency ablation devices market in 2019. Disposables are used in every radiofrequency ablation surgery and are an essential part of RFA surgery. Therefore, such an extensive application will increase its demand during the forecast period. Moreover, product developments by the market players are also likely to enhance the market growth of the segment during the forecast period. Based on the application, the radiofrequency ablation devices market is segmented into surgical oncology, cardiology, gynecology, cosmetology, and pain management.
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.
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.
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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.
Global Radiofrequency Ablation Devices Market – ByProduct
Global Radiofrequency Ablation DevicesMarket– By Application
- Surgical Oncology
- Pain Management
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.
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Keywords: Radiofrequency Ablation Devices Market, Radiofrequency Ablation Devices