USD 4.34 Billion
Radiofrequency Ablation Devices Market Size, Share, Growth Analysis, By Type (Unipolar Radiofrequency Ablation, Bipolar Radiofrequency Ablation), By Component Type (Disposable equipment, Capital equipment), By Application (Surgical oncology, Cardiology & cardiac rhythm management), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG35A2903 |
Region:
Global |
Published Date: November, 2024
Pages:
200
|Tables:
65
|Figures:
70
Radiofrequency Ablation Devices Market Insights
Global Radiofrequency Ablation Devices Market size was valued at USD 4.34 Billion in 2022 and is poised to grow from USD 4.85 Billion in 2023 to USD 11.66 Billion by 2031, growing at a CAGR of 11.6% in the forecast period (2024-2031).
As the name suggests, the radiofrequency ablation devices market includes medical devices or equipment that treat different conditions like chronic pain, tumors, and other severe diseases through the application of radiofrequency energy to aim the damaging tissues. The market is significantly progressing on the back of the rising incidences of chronic disorders, the increasing demand for less invasive surgeries, and improvements in technologies. The market is also propelled by the mounting number of cancer cases and a significant inclination to outpatient procedures. Nonetheless, the market is restrained by significantly priced radiofrequency ablation devices, which could restrict their adoption in the middle income and underdeveloped nations. The market is also negatively impacted by the lack of skilled experts in several developing regions. Despite these restraints, the radiofrequency ablation devices market is opportune to the speedily developing markets and continuous advancements in RFA technologies like integration with imaging systems and enhanced electrodes design.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Disposable Equipment
Fastest Growth
Surgical Oncology
Growth Rate
11.6% CAGR
Global Radiofrequency Ablation Devices Market ($ Bn)
Country Share for North America Region (%)
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Radiofrequency Ablation Devices Market Segmental Analysis
Global Radiofrequency Ablation Devices Market is segmented by Type, Component Type, Application, End Use, and region. Based on Type, the market is segmented into Unipolar Radiofrequency Ablation, and Bipolar Radiofrequency Ablation. Based on Component Type, the market is segmented into Disposable equipment, Capital equipment, and Reusable equipment. Based on Application, the market is segmented into Surgical oncology, Cardiology & cardiac rhythm management, Cosmetology, Gynecology, and Pain management. Based on Application, the market is segmented into Hospital, Ambulatory Surgery Centers, and Research laboratories. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & and Africa.
Analysis by Product
Based on product, the radiofrequency ablation devices market is segmented as disposable equipment, capital equipment, reusable equipment. The disposable equipment segment registered for a larger market share in 2023 and is anticipated to lead over the estimated period as well owing to the increasing need for disposable products for optimal safety and better prevention of cross-contamination. Disposable equipment includes catheters, electrodes, and probes that generally lead in terms of preference. They are comparably less priced than capital equipment and contribute to major recurring returns. These factors along with their compliance with hygiene standards are propelling the segment’s growth.
Conversely, the reusable equipment segment is expected to emerge as the fastest-growing segment owing to its higher preference since they reduce overall expenses. Reusable equipment is comparatively economical compared to disposable equipment replaced after every surgery. Clinics and hospitals increasingly use reusable products, mainly for used devices like probes and electrodes. The segment growth is also fueled by the rising focus on sustainability and lessening medical wastage since reusable equipment complies with these objectives.
Analysis by Application
Based on application, the radiofrequency ablation devices market is categorized into surgical oncology, cardiology & cardiac rhythm management, cosmetology, gynecology, pain management. The cardiology & cardiac rhythm management segment held a dominant share of the market in the previous years and will lead in the future as well owing to the increasing cases of cardiac arrhythmias. The growing patient population of arrhythmias like atrial fibrillation is fueling the need for RFA surgeries. The said procedure is highly effective in curing these disorders by ablating irregular heart tissues, increasing its preference for cardiac rhythm management. Moreover, innovations and advancements in RFA equipment have increased its safety and efficiency in cardiac surgeries, thus the segment’s growth.
Conversely, the surgical oncology segment is anticipated to hold a leading market share over the estimated period owing to increasing cases of cancers like lung, liver, and kidney. RFA ablates tumors and is comparatively less painful than former surgery techniques for specific cancer forms. In addition, RFA holds advantages for tumor ablation since it is highly effective for curing localized, small, and for patients who have not undergone traditional surgeries. These factors will drive the growth of the segment in the coming years.
Global Radiofrequency Ablation Devices Market Size By Product
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Radiofrequency Ablation Devices Market Regional Insights
Geographically, North America is the dominating region among others and is expected to lead over the forecast period owing to well-developed healthcare infrastructure, especially in Canada and the United States that have easy access to technologically improved medical technologies like RFA devices. The regional growth is also impacted by growing cases of chronic diseases that demand efficient and safe radiofrequency ablation treatments and heavy investments in innovation and research and development. Also, favorable reimbursement policies and high healthcare spending is contributing to the adoption of improved medical devices like RFA devices. The prominent players operating in North America include AngioDynamics, Boston Scientific Corporation, Ethicon Inc., Medtronic, Philips, and more.
Asia-Pacific is the fastest-growing region among others due to growing healthcare infrastructure in key nations like India, China, and Japan. Growing investments in healthcare technology and speedy development are economies that drive the adoption and availability of RFA devices. Moreover, the rising cases of chronic illnesses like cardiovascular and cancer are propelling the demand for RFA treatments. The growing patient population is also offering a major boost for RFA devices, thus the market growth in the region.
Global Radiofrequency Ablation Devices Market Size By Geography
- Largest
- Fastest
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Radiofrequency Ablation Devices Market Dynamics
Drivers
Minimally Invasive Procedures and Growing Elderly Population
- The demand for minimally invasive procedures is significantly increasing owing to its benefits over conventional procedures, comprising less infection risk, short recovery times, and comparatively less postoperative pain. The globally increasing aging population is highly prone to conditions that need RFA treatment like chronic disease pain and tumors. The growing demographic inclination is fueling the market growth.
Regulatory Approvals and R&D
- Favorable regulatory approvals and frameworks from EMA and FDA like agencies are supporting the adoption and development of novel radiofrequency ablation technologies, impacting the growth of the market. In addition, the ongoing clinical trials and research studies are increasing clinical indications for radiofrequency for radiofrequency ablation, resulting in novel applications and market growth.
Restraints
Side-Effects and Complication Risks
- Despite radiofrequency ablation is less-invasive procedure, it still comprises risks like bleeding, damage to nearby tissues, and infections. Such concerns regarding associated complications may create hesitation among providers and patients from preferring RFA. The market is also restrained by the lack of skilled experts in a few regions, limiting the use of RFA technology.
Availability of Substitute Treatments
- The availability of substitute treatment approaches like laser ablation, cryoablation, and chemotherapy may hinder the share of RFA devices. The treatment choice is mostly dependent on certain patient preferences and conditions. Moreover, economic fluctuations may notably affect medical investments, innovations, and advancements in technologies, thus restraining the growth of the market.
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Radiofrequency Ablation Devices Market Competitive Landscape
The global radiofrequency ablation devices market is a highly competitive global market driven by many international competitors. Prominent corporations with cutting-edge AI and ML technology are Google, IBM, Microsoft, and NVIDIA. To support a wide range of applications across industries, these industry experts concentrate on creating cutting-edge algorithms, scalable platforms, and reliable infrastructure. Rapid advances in technology, strategic alliances, and large expenditures on research and development define the competitive environment.
Top Player’s Company Profiles
- Medtronic plc
- Boston Scientific Corporation
- Abbott Laboratories
- Johnson & Johnson
- Stryker Corporation
- Smith & Nephew plc
- Olympus Corporation
- Hologic, Inc.
- Merit Medical Systems, Inc.
- AngioDynamics, Inc.
- CryoLife, Inc. (Artivion, Inc.)
- AtriCure, Inc.
- ELIAS Medical
- Eppendorf AG
- Sientra, Inc.
- Neotract, Inc.
- Biotronik SE & Co. KG
- Ablative Solutions, Inc.
Recent Developments
- In January 2024, Boston Scientific Corporation stated that it received the U.S. FDA approval for its FARAPULSE™ Pulsed Field Ablation (PFA) System. The said device is an exceptional substitute to the regular SOC thermal ablation treatment and is dedicated for isolating pulmonary veins for treating drug, recurrent, refractory, paroxysmal atrial fibrillation (AF), and symptomatic.
- In August 2023, Medtronic stated that its revised ClosureFast™ radiofrequency ablation (RFA) catheter (in low 6F profile) receive clearance from the U.S. FDA. The said procedure is dedicated to help cure CVI (chronic venous insufficiency), a progressive condition that impacts leg veins that returns blood to the heart.
- In July 2024, Stryker introduced MultiGen 2 Radiofrequency (RF) Generator, which offers optimal efficiency, reliability, and control to the physicians that require while performing radiofrequency ablation.
Radiofrequency Ablation Devices Key Market Trends
- (PFA) Pulsed Field Ablation: Pulsed-field ablation has lately gained traction as a progressive technology for ablation. It makes use of large electrodes to decrease current density. This technology is for non-thermal ablation. Based on recent studies, myocardium is highly susceptible to the effects of PFA compared to other tissues, mainly the nerves and esophagus.
- Microwave Endometrial Ablation: Endometrial ablation is another domain that is transforming the way gynecological diseases are treated. Microwave endometrial ablation is a novel treatment for dysfunctional bleeding of uterine that comprises application of microwave power to endometrium. A few other advancements progressing in ablation devices segment comprise electrophysiology mapping, cardiac ablation, and cancer ablation devices.
Radiofrequency Ablation Devices Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, radiofrequency ablation devices market is progressing at a notable rate supported by drivers like the growing number of less invasive procedures, increasing acceptance and adoption of RFA technologies, and developing healthcare infrastructure. Nevertheless, the market is negatively affected by reimbursement and limited coverage issues, technological variability and limitations, and access to competitive alternatives. North America is projected to dominate the market due to the growing patient population of chronic illnesses, strong healthcare spending, and innovations. Yet, increasing outpatient population, growing awareness and education about the said technology, and trend towards personalized medicines are a few opportunities in the radiofrequency ablation devices market.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 4.34 Billion |
| Market size value in 2031 | USD 11.66 Billion |
| Growth Rate | 11.6% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Radiofrequency Ablation Devices Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Radiofrequency Ablation Devices Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Radiofrequency Ablation Devices Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Radiofrequency Ablation Devices Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Radiofrequency Ablation Devices Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Radiofrequency Ablation Devices Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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