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

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.