DUBLIN, Jun 18, 2021--(BUSINESS WIRE)--The "Radiofrequency Ablation Devices Market Research Report: By Component (Catheter Systems, Generators, Accessories), Application (Oncology, Cardiology, Pain Management), End User (Hospitals, Ambulatory Surgical Centers) - Global Industry Analysis and Demand" report has been added to ResearchAndMarkets.com's offering.
The radiofrequency (RF) ablation devices market stood at $3,173.5 million in 2019, and it is projected to reach $11,080.3 million by 2030, exhibiting a 12.6% CAGR during the forecast period (2020-2030).
This growth can be attributed to the improving healthcare infrastructure, surging cases of chronic disorders, technological developments, and booming geriatric population. Such devices use RF energy to destroy diseased tissue, such as tumors and arteriovenous malformations (AVMs), offering a shorter, less-painful, and less-invasive treatment option than conventional open surgeries.
Another growth driver for the market is the increase in the elderly population. Geriatric people, who are more susceptible to disorders and abnormalities, are opting for minimally invasive treatments for the treatment of chronic diseases, such as cancer and cardiovascular diseases (CVDs). According to the United Nations (UN) World Population Ageing 2019 report, the number of people aged 65 years or above will reach nearly 1.5 billion by 2050. Thus, the increasing geriatric population and prevalence of chronic diseases among the elderly will propel the market growth.
The categories under the component segment of the radiofrequency ablation devices market are catheter systems, accessories, and generators. During the forecast period, the catheter systems category is projected to display the fastest growth due to the rising cases of chronic diseases, which is leading to a large number of RF ablation treatments. Catheter systems encompass electrodes, probes, and catheters that are inserted into the affected parts of the body for ablation procedures. Moreover, catheter systems are disposable, unlike the generators and accessories.
During the forecast period, the Asia-Pacific (APAC) region is expected to register the fastest growth in the global radiofrequency ablation devices market. This can be ascribed to the increasing burden of chronic diseases and surging elderly population in the region. As per the 2019 World Population Ageing report of the United Nations, the population of people aged 65 years or above in Asia will be 954.7 million in 2050. A rise in the population of the elderly will result in more cases of chronic ailments, thereby driving the usage of RF ablation equipment.
Thus, the shift to minimally invasive procedures from open surgeries is propelling the market growth throughout the world.
Key Topics Covered:
Chapter 1. Research Background
Chapter 2. Research Methodology
Chapter 3. Executive Summary
Chapter 4. Introduction
4.1 Definition of Market Segments
4.1.1 By Component
22.214.171.124 Catheter systems
4.1.2 By End User
4.1.3 By Application
126.96.36.199 Pain management
4.2 Market Dynamics
188.8.131.52 Rising number of acquisitions in the market
184.108.40.206 Increasing preference of minimally invasive treatment
220.127.116.11 Growing geriatric population worldwide
18.104.22.168 Surging number of cancer cases
22.214.171.124 Impact analysis of drivers on market forecast
126.96.36.199 Risk factors associated with ablation procedures
188.8.131.52 Significant incidence of product recalls
184.108.40.206 Impact analysis of restraints on market forecast
220.127.116.11 Increasing patient base in emerging economies
4.3 Porter's Five Forces Analysis
4.4 Impact of COVID-19
Chapter 5. Global Market Size and Forecast
5.1 By Component
5.2 By Application
5.3 By End User
5.4 By Region
Chapter 6. North America Market Size and Forecast
Chapter 7. Europe Market Size and Forecast
Chapter 8. APAC Market Size and Forecast
Chapter 9. LATAM Market Size and Forecast
Chapter 10. MEA Market Size and Forecast
Chapter 11. Competitive Landscape
11.1 Market Share Analysis
11.2 Strategic Developments of Key Players
Chapter 12. Company Profiles
Johnson & Johnson
Smith & Nephew Plc
Boston Scientific Corporation
Baylis Medical Company Inc.
Avanos Medical Inc.
RF Medical Co. Ltd.
MedSphere International Inc.
Diros Technology Inc.
For more information about this report visit https://www.researchandmarkets.com/r/5zwftl
View source version on businesswire.com: https://www.businesswire.com/news/home/20210618005311/en/
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