Radiofrequency Ablation Devices Market Research Report - Forecast till 2030

Radiofrequency Ablation Devices Market, Information by type (Unipolar radiofrequency Ablation & Bipolar Radiofrequency Ablation), & Application (Surgical Oncology, Cardiology & Cardiac Rhythm Management, Gynecology, &Cosmetology) - Forecast till 2030

ID: MRFR/HC/6165-HCR | November 2022 | Region: Global | 90 Pages         

Radiofrequency Ablation Devices Market

Global Radiofrequency Ablation Devices Market is expected to reach USD 3,425.33 Million by 2022, supported by a CAGR of 10.50% during the forecast period 2022-2030.

Segmentation

By type Unipolar radiofrequency Ablation Bipolar Radiofrequency Ablation
By Application Surgical Oncology Cardiology & Cardiac Rhythm Management Gynecology &Cosmetology

Key Players

  • Boston scientific corporation
  • Medtronic Inc
  • Stryker
  • Cosman Medical Inc.
  • St. Jude Medical
  • Smith & Nephew
  • Johnson & Johnson (J&J) Services

Drivers

  • Increasing awareness of the cardiac disease
  • Growing healthcare industries
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Radiofrequency Ablation Devices Market Overview


The radiofrequency ablation devices market is projected to reach USD 3,425.33 Million by 2030 at 10.50% CAGR during the forecast period 2022-2030. 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.


Segmentation


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


Key players


Some of the key players in the global radiofrequency ablation devices  market are Boston scientific corporation, Medtronic Inc, Stryker, Cosman Medical, Inc., St. Jude Medical, Smith & Nephew, Johnson & Johnson (J&J) Services, LLC, Angiodynamics, RF Medical Co, Ltd, AtriCure, Inc., and others


Regional Market Summary


Global Radiofrequency Ablation Devices Market Share (%), by Region, 2017


Sources: United Census Bureau, Indian Brand Equity Foundation, International Journal of Women's Health, Annual Reports, Press Release, White Paper, And Company Presentation


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 growth of the radiofrequency ablation devices market.


In 2017, it was estimated that Europe stood second in the radiofrequency ablation devices market.


Asia-Pacific was the fastest growing region for the radiofrequency ablation devices market in 2017. 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 share in the radiofrequency ablation devices market. 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.

Recent Development


In 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.


In 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.



  • Primary 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


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



  • Government and private laboratories

  • Research and Development (R&D) companies

  • Medical research laboratories

  • Market research and consulting service providers

  • Biotechnology companies


Market Segmentation and Key Market Players


Radiofrequency Ablation Devices Market, by Underlying Cause



  • Unipolar radiofrequency ablation

  • Bipolar radiofrequency ablation


Radiofrequency Ablation Devices Market, by Application



  • Surgical Oncology

  • Cardiology and Cardiac Rhythm Management

  • Gynecology

  • Cosmetology

  • Pain Management

  • Others


Radiofrequency Ablation Devices Market, by Key Players



  • Boston Scientific Corporation

  • Medtronic Inc

  • Stryker

  • Cosman Medical, Inc

  • Jude medical

  • Smith & Nephew

  • Johnson & Johnson (J&J) Services, LLC

  • Angiodynamics

  • RF Medical Co Ltd

  • AtriCure, Inc.

  • Others



Report Scope:

Report Attribute/Metric Details
  Market Size   USD 3,425.33 Million
  CAGR   10.50%
  Base Year   2021
  Forecast Period   2022-2030
  Historical Data   2020
  Forecast Units   Value (USD Million)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   Type, Application
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   Boston scientific corporation, Medtronic Inc, Stryker, Cosman Medical, Inc., St. Jude Medical, Smith & Nephew, Johnson & Johnson (J&J) Services, LLC, Angiodynamics, RF Medical Co, Ltd, AtriCure, Inc., and others
  Key Market Opportunities   New product launches and R&D Amongst major key Players
  Key Market Drivers

  • Increasing awareness of the cardiac disease
  • Growing healthcare industries
  • The development of various treatment methods


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    Frequently Asked Questions (FAQ) :

    The radiofrequency ablation devices market is expected to exhibit a strong 10.50% CAGR over the forecast period from 2022 to 2030.

    The growing prevalence of esophageal and gastric diseases is the major driver for the radiofrequency ablation devices market.

    RF ablation devices are mainly segmented into unipolar and bipolar RF ablation devices.

    The Americas hold the largest share in the global RF ablation devices market.

    Leading players in the RF ablation devices market include Stryker, Medtronic, Boston Scientific Corporation, Smith & Nephew, Jude Medical, and Angiodynamics, among others.