The Radiofrequency Ablation Devices Market is notably prompted by the increasing occurrence of chronic sicknesses consisting of most cancers and cardiovascular disorders. Radiofrequency Ablation is extensively used as a minimally invasive treatment alternative for diverse situations, contributing to the marketplace's boom. The demographic shift in the direction of a growing older population is a key motive force of the marketplace. Older people regularly face a better threat of growing chronic situations that may be treated with Radiofrequency Ablation. As the worldwide populace ages, the demand for those devices is anticipated to push upward, driven by the want for powerful and much less invasive treatment alternatives. Continuous advancements in Radiofrequency Ablation strategies and technology propel marketplace boom. Innovations that include progressed catheter designs, real-time imaging steerage, and more desirable strength shipping structures make contributions to the efficacy and safety of Radiofrequency Ablation approaches, making them extra extensively followed in medical practice.
The high success charges and coffee hassle fees associated with Radiofrequency Ablation methods contribute to its market attraction. Patients and healthcare carriers are drawn to the effectiveness of these treatments with minimum side results, making them a favored desire for positive clinical conditions. The typical increase in healthcare expenditure globally supports the increase of the Radiofrequency Ablation Devices market. As healthcare structures put money into advanced technologies and treatment plans, Radiofrequency Ablation emerges as a fee-effective and green alternative for treating specific illnesses, fostering market enlargement. The incidence of cardiac arrhythmias and cancer appreciably drives the adoption of Radiofrequency Ablation Devices. These devices are usually used in the remedy of cardiac arrhythmias, along with atrial traumatic inflammation and various kinds of cancers, consisting of liver and lung tumors, contributing to their good-sized use in medical practice.
Reimbursement regulations and healthcare regulations play an essential position within the marketplace dynamics. Favorable repayment regulations for Radiofrequency Ablation strategies inspire healthcare providers to undertake these devices, even as adherence to regulatory standards guarantees affected persons' safety and device efficacy. The competitive landscape and collaborative efforts within the industry affect the market's evolution. Companies try to innovate and differentiate their Radiofrequency Ablation Devices to take advantage of a competitive facet. Collaborations with healthcare vendors and studies establishments contribute to advancements in generation and broader market accessibility.
Report Attribute/Metric | Details |
---|---|
Growth Rate | Â Â 10.9% |
The Radiofrequency Ablation Devices Market Size was valued at USD 4.76 Billion in 2023.
The Global Radiofrequency Ablation Devices industry is projected to grow from USD 5.37 Billion in 2024 to USD 13.05 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 10.38% during the forecast period (2024 - 2032).
It uses thermal energy to achieve targeted tissue destruction. Radiofrequency ablation (RFA) is a minimally invasive procedure appropriate for patients with cardiac diseases. For instance, atrial fibrillation (AF), atrial flutter, cardiac arrhythmias, cancer, and pain management. It provides high efficacy, ease of use, and safety, becoming the most preferred method. The process is being increasingly used to treat many diseases, such as cancer and cardiac arrhythmia.
The growing geriatric population is also a reason for the market growth. Recently the growing economy and strong insurance policies will increase the market growth. The increasing number of lung cancer cases in the American region keeps the market growing. Although the number of cardiac patients is rising, awareness is also increasing of the disease.
The poor economy and less per capita income, for some reason, could hinder market growth. The rise in government funds for the healthcare sector and developing economies in several countries will improve the market globally. Some of the side effects associated with the system for pain management procedures are discomfort, swelling, and tissue charring.
The radiofrequency ablation devices market is segmented on the basis of type, application, and region.
On the basis of the type, the radiofrequency ablation devices market is segmented into Unipolar radiofrequency ablation and Bipolar radiofrequency ablation.
By application, the global radiofrequency ablation devices market is categorized into Surgical Oncology, Cardiology and Cardiac Rhythm Management, Gynecology, Cosmetology, Pain Management
The Americas dominates the global market for radiofrequency ablation devices owing a growing number of lung cancer cases like, Non-Small Cell Lung Cancer (NSCLC) which is the most common type of lung cancer, accounting for 80-85% of all lung cancer cases. It is generally a slow growing and spreading as compared to small cell lung cancer (SCLC).
Small cell lung cancer used to account for 12-13% of lung cancers. However, there has been a shift from NSCLC to SCLC in recent years which has propelled the market growth of the radiofrequency ablation devices.
It was estimated that Europe stood second in the radiofrequency ablation devices market.
Asia-Pacific was the fastest growing region for the market of radiofrequency ablation devices in 2021. Factors such as increasing awareness of the cardiac disease, growing healthcare industries, and the development of various treatment methods for gynecology and cosmetology drives the market in this region.
On the other hand, the Middle East and Africa holds the least market share in the radiofrequency ablation devices. The presence of poor economies and low per capita income, especially within the African region make the market to lag within the region.
A majority of the market share within this region is estimated to be held by the Middle East due to increasing government funding in the healthcare for healthcare, and presence of developed economies like UAE, Kuwait, Dubai, and others.
Some of the key players in the global radiofrequency ablation devices market are
Recent Development
November 2023, Medtronic announces the launch of its new Symplicity System, a radiofrequency ablation device for the treatment of atrial fibrillation (AFib). The Symplicity System is designed to provide physicians with a safe and effective way to treat patients with AFib.
Boston Scientific announces the launch of its new CoolTouch XP Ablation Catheter, a radiofrequency ablation device for the treatment of cardiac arrhythmias. The CoolTouch XP Ablation Catheter is designed to provide physicians with a more precise and controlled way to ablate cardiac tissue.
Abbott Laboratories announces the launch of its new Navistar Ablation System, a radiofrequency ablation device for the treatment of ventricular tachycardia (VT). The Navistar Ablation System is designed to provide physicians with a more effective way to treat patients with VT.
September 2023, KARL STORZ GmbH & Co. KG and Google Cloud announce a partnership to develop new AI-powered radiofrequency ablation solutions. The partnership will combine KARL STORZ's expertise in radiofrequency ablation devices with Google Cloud's expertise in AI to develop new solutions that can improve patient care and outcomes.
Smith & Nephew plc announces the launch of its new NAVISENT ENT navigation system.
The NAVISENT system is designed to provide surgeons with real-time 3D visualization of the patient's anatomy during radiofrequency ablation procedures.
May 2022, A team of researchers from Huazhong University of Science and Technology (HUST) has invented an approach using a radiofrequency ablation device designed to heat only the cancer tissue while leaving healthy tissue unharmed.
April 2022
IQWiG has now published its assessment for two 137h procedures commissioned with the G-BA. The first one is endoscopic ultrasound-guided 32P microparticle implantation for unresectable, locally advanced pancreatic tumors. The other is "transcervical radiofrequency ablation with intrauterine ultrasound guidance for uterine fibroids."
A leading innovator in surgical treatments and therapies for atrial fibrillation left atrial appendage management and post-operative pain management named AtriCure; Inc announced that it had launched the EnCompass Clamp®, a part of the Isolator Synergy™ Ablation System in the United States.
Research Methodology
Market Research Future research is conducted by industry experts who offer insights into industry structure, market segmentation, assessment, Competitive Landscape (CL), penetration, as well as on emerging trends. Besides primary interviews (~ 80%) and secondary research (~ 20%), their analysis is based on their years of professional expertise in respective industries. Our analysts also predict where the market will be headed in the next five to ten years, by analyzing historical trends and current market positions. Furthermore, the varying trends of segments and categories geographically presented are studied and are estimated based on the primary and secondary research.
Extensive primary research was conducted to gain a deeper insight into the market and industry performance. In this particular report, we have conducted primary surveys (interviews) with key level executives (VPs, CEOs, Marketing Directors, Business Development Managers, and many more) of major players who are active in the market. In addition to analyzing the current and historical trends, our analysts predict where the market is headed, over the next five to ten years.
Secondary research was mainly used to collect and identify information useful for the extensive, technical, market-oriented, and commercial study of the radiofrequency ablation devices market. It was also used to obtain key information about major players, market classification, and segmentation according to industry trends, geographical markets, and developments related to the market and perspectives. For this study, analysts have gathered information from various credible sources, such as annual reports, SEC filings, journals, white papers, corporate presentations, company web sites, an international organization of chemical manufacturers, some paid databases, and many others.
Intended Audience
© 2024 Market Research Future ® (Part of WantStats Reasearch And Media Pvt. Ltd.)