Rising Demand for Radiofrequency Ablation Devices Market Driven by Chronic Pain and Cardiovascular Diseases

Discover the rising demand for Radiofrequency Ablation (RFA) devices driven by chronic pain and cardiovascular diseases.

VANCOUVER, BC, CANADA, June 28, 2024 /EINPresswire.com/ -- The global Radiofrequency Ablation (RFA) devices market size was USD 4.30 Billion in 2022 and is expected to register a rapid revenue CAGR of 12.0% during the forecast period. The global Radiofrequency Ablation (RFA) devices market is experiencing significant growth, driven by the increasing prevalence of chronic pain disorders and cardiovascular diseases (CVDs), as well as rising healthcare expenditures. Radiofrequency ablation, a minimally invasive procedure, is widely used for treating cardiac conditions such as atrial fibrillation, cancer, and pain management.

Cardiovascular diseases are a leading cause of death globally, accounting for 17.9 million deaths annually. Heart attacks and strokes contribute to over 80% of these deaths, many of which occur prematurely in individuals under 70. Radiofrequency ablation is highly favored for its effectiveness, ease of use, and safety in treating various conditions, including cardiac arrhythmias and cancer.

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Market Drivers

The market is propelled by the high efficacy of RF ablation in creating controlled heart tissue damage. However, challenges like collateral damage and the heat sink effect persist. Alternatives such as cryoablation and irreversible electroporation (IRE) show promise in minimizing these issues.

Technological advancements in RF ablation devices are also contributing to market growth. Innovations like multimodality imaging and sophisticated computational models enhance the precision and effectiveness of RF ablation procedures, ultimately improving patient outcomes.

Market Restraints

Despite its effectiveness, the high cost of RF ablation procedures limits accessibility for many patients, especially those without adequate health insurance. This financial burden hampers the broader adoption of RF ablation devices, highlighting the need for solutions to address healthcare disparities.

Market Trends

A notable trend in the market is the development of RF ablation devices with real-time monitoring capabilities. These devices offer more controlled and efficient ablations, optimizing the formation of non-conductive tissue areas and reducing operation time.

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Segment Insights

Applications: The RF ablation devices market is segmented into surgical oncology, pain management, cardiology, cosmetology, gynecology, and others. The cardiology and cardiac rhythm management segment held the largest market share in 2022 due to the increasing preference for minimally invasive procedures like catheter ablation. The surgical oncology segment is also expected to grow, driven by the precision and tailored treatment options it offers.

Product Types: The market is divided into RF generators, disposables, and reusable devices. The disposables segment is anticipated to dominate due to their cost-effectiveness, while the reusable segment is expected to grow steadily due to environmental concerns and the push for sustainable healthcare practices.

End-Use: Hospitals are expected to hold the largest market share, given their increasing use of RF ablation devices for effective and less invasive treatments. Research laboratories are projected to experience the fastest growth, serving as hubs for innovation and the development of more efficient and precise RFA devices.

RFA Devices Top Companies and Competitive Landscape

The global Radiofrequency Ablation (RFA) devices market is moderately fragmented, with many large and medium-sized players accounting for majority of market revenue. Major businesses are using a variety of tactics, making mergers and acquisitions, strategic agreements, and contracts, as well as creating, experimenting with, and introducing more efficient RFA devices solutions.

Johnson & Johnson

Smith & Nephew Plc.

Abbott Laboratories

Stryker Corporation

Medtronic Plc.

Boston Scientific Corporation

Baylis Medical Company Inc.

Avanos Medical Inc.

AngioDynamics Inc.

RF Medical Co. Ltd.

AtriCure Inc.

MedSphere International Inc.

Diros Technology Inc.

Hologic, Inc.

Stryker

Arthrex

Misonix, Inc.

Elekta

Mantisse

MedWaves, Inc.

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Radiofrequency Ablation (RFA) Devices Latest Industry News

On 17 October, 2023 Johnson & Johnson (J&J) MedTech is undergoing a two-year restructuring program for its DePuy Synthes orthopedic business. The restructuring aims to exit less profitable markets and product lines, enhancing profitability after a 2.6% sales growth in Q3. This program is expected to conclude by the end of 2025, with a cost estimate of USD 700 million to USD 800 million. While the restructuring can lead to modest revenue disruption over the next two years, J&J believes it will accelerate future growth and profitability. The CEO expressed optimism, especially regarding knee-related improvements, with an emphasis on securing a prominent position in high-growth orthopedic

On 19 May, 2023 Abbott gained FDA approval for its TactiFlex Ablation Catheter, Sensor Enabled, touted as the world's first flexible-tip ablation catheter with contact force technology. This catheter, which integrates with Abbott's EnSite X EP System, is designed to enhance the precision of visualizing heart anatomy, reducing procedure times and improving safety. The flexible tip incorporates a laser-cut pattern that adapts upon contact with the heart, directing fluid to targeted tissue. This design improves the positioning accuracy of catheter, ensuring consistent and effective therapy. The approval comes amid increasing competition in the cardiac ablation space, with companies such as J&J's Biosense Webster and Medtronic.

Radiofrequency Ablation Devices Market Segment Analysis

For the purpose of this report, Emergen Research has segmented the global Radiofrequency Ablation (RFA) devices market on the basis of product, application, end-use, and region:

Product Outlook (Revenue, USD Billion; 2019-2032)

RF Generators

Disposables

Cannulas

Needles

Reusables

Probes

Electrodes

Application Outlook (Revenue, USD Billion; 2019-2032)

Surgical Oncology

Pain Management

Cardiology & Cardiac Rhythm Management

Cosmetology

Gynecology

Others

End-use Outlook (Revenue, USD Billion; 2019-2032)

Hospitals

Ambulatory Surgical Centers (ASCs)

Research Laboratories

Regional Outlook (Revenue, USD Billion; 2019–2032)

North America

U.S.

Canada

Mexico

Europe

Germany

France

UK

Italy

Spain

Benelux

Rest of Europe

Asia Pacific

China

India

Japan

South Korea

Rest of APAC

Latin America

Brazil

Rest of LATAM

Middle East & Africa

Saudi Arabia

UAE

South Africa

Turkey

Rest of Middle East & Africa

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