Radiofrequency Ablation Devices Market Growth & Trends
The global radiofrequency ablation devices market size is expected to reach USD 10.5 billion by 2030, registering a CAGR of 11.9% during the forecast period, according to a new report by Grand View Research, Inc. Increasing preference for minimally invasive surgeries, growing geriatric population, and rise in healthcare spending for better disease treatment are expected to propel the growth.
According to the American Society of Plastic Surgeons, by the end of 2015, 15.9 million minimally invasive cosmetic surgeries were performed in U.S. According to the Centers for Disease Control and Prevention (CDC), more than six million laparoscopic procedures are performed across the U.S. and EU countries every year.
Radiofrequency ablation is now used early in the management of patients suffering from atrial tachycardia or atrial fibrillation or other kinds of coronary disease. This factor is anticipated to boost the market growth. According to the American College of Cardiology Foundation, coronary heart disease is the leading cause of deaths (43.8%) in U.S., followed by stroke (16.8%), heart failure (9.0%), high BP (9.4%), and other CVDs (17.9%). By 2035, the total cost of CVD is expected to reach USD 1.1 trillion and is projected to affect 45.1% (130 million) adults in U.S.
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Radiofrequency ablation can also be used to reduce neck pain, low-back pain, arthritis, and pelvic and peripheral nerve pain. According to WebMD LLC., RFA has been proven to be effective in more than 70% of the patients experiencing pain. Pain relief from RFA can last from six to 12 months or even a year.
Radiofrequency Ablation Devices Market Report Highlights
- Disposable equipment held the largest market share in 2022 due to reduced morbidity and mortality and the ability of the equipment to provide treatment in an outpatient setting. For example, Radiopaque RF cannula (Halyard Worldwide, Inc) provides improved visualization under fluoroscopy for accurate positioning, resulting in a targeted treatment
- Cardiology and cardiac rhythm management is anticipated to be the fastest-growing segment during the forecast period due to disease prevalence, growing awareness, and adoption of minimally invasive operations.
- North America is anticipated to continue leading the radiofrequency ablation devices market during the forecast period due to high healthcare expenditure, incidence of cardiac disease and cancer, and the number of patients suffering from pain
- Asia Pacific is expected to witness significant growth over the next decade due to increasing demand for minimally invasive procedures to treat cancer and growing awareness regarding the benefits of ablation method over the conventional surgical procedures.
Radiofrequency Ablation Devices Market Segmentation
Grand View Research has segmented the global radiofrequency ablation devices market on the basis of component type, application, end-use, and region:
Radiofrequency Ablation Devices Component Type Outlook (Revenue, USD Million, 2018 - 2030)
- Disposable Equipment
- Capital Equipment
- Reusable Equipment
Radiofrequency Ablation Devices Application Outlook (Revenue, USD Million, 2018 - 2030)
- Surgical Oncology
- Cardiology & Cardiac Rhythm Management
- Cosmetology
- Gynecology
- Pain Management
Radiofrequency Ablation Devices End-use Outlook (Revenue, USD Million, 2018 - 2030)
- Hospital
- Ambulatory Surgery Centers
- Research Laboratories
Radiofrequency Ablation Devices Regional Outlook (Revenue, USD Million, 2018 - 2030)
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Denmark
- Sweden
- Norway
- Asia Pacific
- Japan
- China
- India
- Australia
- Thailand
- South Korea
- Latin America
- Brazil
- Mexico
- Argentina
- Middle East and Africa
- South Africa
- Saudi Arabia
- UAE
- Kuwait
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