The radiofrequency ablation devices market size is expected to reach over US$ 7.10 billion by 2028. The increasing prevalence of oncology, cardiovascular, and metabolic diseases in the geriatric population are the key factors for radiofrequency ablation devices market growth. The radiofrequency ablation devices market report further mentioned that the market size raised at US$ 2.98 billion in 2019, and it is likely to exhibit a Compound annual growth rate (CAGR) of 11.5% during the forecast period 2020 to 2028.

Emerging Applications of Radiofrequency Ablation Technology

Radiofrequency ablation is a minimally invasive technique that uses heat and electrical energy to destroy cancer cells and other dysfunctional tissues. Recently, it has been used to treat a wide range of medical conditions. Although it is not a primary treatment of cancer, it is used to treat a spot of tumor causing pain and other medical indications. The technique is also used to treat patients suffering from adrenal gland, breast, bone, kidney, liver, lung, pancreatic, and thyroid cancer. It is also used to treat the precancerous cells in esophagus. Along with oncological treatment, the radiofrequency ablation technology is also being used in the treatment of patients with cardiac conditions, when medicines or other treatment fail to cure these conditions. It is used to treat cardiac arrhythmia where it destroys a small area of the heart tissue that is causing irregular heartbeats. Destroying these cells helps in restoring regular heartbeats.

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The radiofrequency ablation technology has gained a lot of attention in dermatology stream of medicinal sciences and has been used for surgical management of skin lesions, benign skin conditions such as freckles, dermatitis papulosanigra, acne, and skin tags. Radio ablation is also widely used in gynecology to treat uterine fibroids.

The increasing prevalence of oncology, cardiovascular, and metabolic diseases

The increasing prevalence of oncology, cardiovascular, and metabolic diseases such as brain cancer, lung cancer, chronic heart failure, arrhythmia, and type 2 diabetes in the geriatric population are the key factors for radiofrequency ablation devices market growth. The preference for minimally invasive surgeries is the key factors for the radiofrequency ablation devices market growth. According to a recent report published in November 2019, by the International Diabetes Federation division Diabetes Research and Clinics Practice, The global diabetes prevalence in 2019 is estimated to be 9.3% (463 million people), rising to 10.2% (578 million) by 2030 and 10.9% (700 million) by 2045. The prevalence is higher in urban (10.8%) than rural (7.2%) areas, and in high-income (10.4%) than low-income countries (4.0%). Furthermore, the increasing technological advancements and awareness for early diagnosis of chronic diseases such as arthritis and osteoporosis coupled with improving healthcare infrastructure are some other key factors for the market growth.

Rising demand from developing countries

The rising demand for radiofrequency ablation devices in developing countries such as India, China, and Brazil and the increasing use of ultrasound ablation technology in the radiofrequency ablation devices market is also encouraging the popularity of these devices. Furthermore, the increasing elderly population worldwide along with rising life expectancy are the key factors for the market growth over the upcoming years.

Product Insights

Based on product, the radiofrequency ablation devices marketis segmented into devices and disposables. The disposables segment held the largest share in the global radiofrequency ablation devices market in 2019. Disposables are used in every radiofrequency ablation surgery. These disposables help in transmitting the electric current to the target tissue and hence are the crucial components of the radiofrequency ablation procedure. Moreover, the market players are developing advanced products in order to reduce errors and carry out the procedure efficiently. For instance, Boston Scientific offers an all-in-one electrode, cannula, and injection tube, which is designed to reduce cannula movement, by providing precision and controlto the surgeons while operating.

Key market players in the radiofrequency ablation devices market. They are as follows:

  • Avanos Medical Inc.
  • Stryker
  • Abbott
  • Medtronic
  • Boston Scientific
  • Bard(BD)
  • Angiodynamic
  • Hologic
  • Articure
  • Merit medical

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