Radiofrequency Ablation Devices (RFAD) Market Size By 2023 | Global Industry Growth Rate, Technology Trends, Insights, Analysis, Competitive Landscape
Market Highlights
The Global Radiofrequency Ablation Devices Market is expected to grow at an approximate CAGR of 11.2% during the forecast period of 2018–2023.
Factors such as the advantage of radiofrequency ablation over other ablation medical procedures, the success rate of radiofrequency are driving the growth of the market. Moreover, complications such as acute respiratory distress syndrome where success rates are low and burning sensation at the treatment site of tissue are some of the factors hindering the growth of the market.
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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.
Segmentation
The global radiofrequency ablation devices market is segmented on the basis of type, application, and region. On the basis of the type, the global 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
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.
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 global radiofrequency ablation devices market.
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Regional Analysis
The Americas dominates the global market for radiofrequency ablation devices owing to the growing geriatric population, increase in cancer cases, an increase in clinical research within the region. Additionally, the increasing awareness about the cardiology treatment and presence of developed economies and healthcare sector within the region drives the market growth during the forecast period. In 2017, it was estimated that Europe stood second in the global radiofrequency ablation devices market due to the increasing prevalence of gynecology, cosmetology, pain management, and others. Asia-Pacific was the fastest growing region for the global radiofrequency ablation devices market in 2017. Factors such as increased innovation and awareness about the available treatment methods fuel the market growth within the region.
On the other hand, the Middle East and Africa hold the least share in the global 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.
List of Tables
Radiofrequency Ablation Devices Market 2023-2019
- Report Prologue
- Radiofrequency Ablation Devices Market Introduction
- Research Methodology
- Market Dynamics
- Market Factor Analysis
- Global Radiofrequency Ablation Devices Market, By Type
- by Application
- Radiofrequency Ablation Devices Market, By Region
- Radiofrequency Ablation Devices Market, By Segmentation
- Radiofrequency Ablation Devices Market, By Segmentation
- Product Outlook 2023
- Company Profiles
- Appendix
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