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Radiofrequency Ablation Devices Market Worth $6.7 Billion by 2026: Grand View Research, Inc.
SAN FRANCISCO, March 18, 2019 /PRNewswire/ -- The global radiofrequency ablation devices market size is anticipated to reach USD 6.7 billion by 2026, according to a new report by Grand View Research, Inc. It is expected to register a CAGR of 11.6% during the forecast period. Increasing preference for minimally invasive surgeries, growing geriatric population, and rise in healthcare spending for better disease treatment are expected to propel the growth.
Key suggestions from the report:
- Disposable equipment held the largest market share in 2018 due to reduced morbidity and mortality and the ability of the equipment to provide treatment in an outpatient setting. For example, Radiopaque RF cannula (Halyard Worldwide, Inc) provides improved visualization under fluoroscopy for accurate positioning, resulting in a targeted treatment
- Cardiology and cardiac rhythm management is anticipated to be the fastest-growing segment during the forecast period due to disease prevalence, growing awareness, and adoption of minimally invasive operations. In 2012 RFA-Academia launched an initiative to increase awareness in Europe and to teach endoscopists safe and justified application of RFA to reduce the disease burden
- North America is anticipated to continue leading the radiofrequency ablation devices market during the forecast period due to high healthcare expenditure, incidence of cardiac disease and cancer, and the number of patients suffering from pain
- Asia Pacific is expected to witness significant growth over the next decade due to increasing demand for minimally invasive procedures to treat cancer and growing awareness regarding the benefits of ablation method over the conventional surgical procedures
- Some of the key players are Boston Scientific Corporation; Medtronic; Stryker; Cosman Medical, Inc.; St. Jude Medical; Smith & Nephew; Johnson & Johnson (J&J) Services, LLC; and AngioDynamics.
Read 100 page research report with TOC on "Radiofrequency Ablation Devices Market Size, Share & Trends Analysis Report By Product (Disposable, Capital, Reusable Equipment), By Application, By Region, And Segment Forecasts, 2019 - 2026" at: https://www.grandviewresearch.com/industry-analysis/radiofrequency-ablation-devices-market
According to the American Society of Plastic Surgeons, by the end of 2015, 15.9 million minimally invasive cosmetic surgeries were performed in U.S. According to the Centers for Disease Control and Prevention (CDC), more than six million laparoscopic procedures are performed across the U.S. and EU countries every year.
Radiofrequency ablation is now used early in the management of patients suffering from atrial tachycardia or atrial fibrillation or other kinds of coronary disease. This factor is anticipated to boost the market growth. According to the American College of Cardiology Foundation, coronary heart disease is the leading cause of deaths (43.8%) in U.S., followed by stroke (16.8%), heart failure (9.0%), high BP (9.4%), and other CVDs (17.9%). By 2035, the total cost of CVD is expected to reach USD 1.1 trillion and is projected to affect 45.1% (130 million) adults in U.S.
Radiofrequency ablation can also be used to reduce neck pain, low-back pain, arthritis, and pelvic and peripheral nerve pain. According to WebMD LLC., RFA has been proven to be effective in more than 70% of the patients experiencing pain. Pain relief from RFA can last from six to 12 months or even a year.
Grand View Research has segmented the global radiofrequency ablation devices market based on type and region:
- Radiofrequency Ablation Devices Product Outlook (Revenue, USD Million, 2015 - 2026)
- Disposable Equipment
- Capital Equipment
- Reusable Equipment
- Radiofrequency Ablation Devices Mode of Delivery Outlook (Revenue, USD Million, 2015 - 2026)
- Surgical Oncology
- Cardiology & Cardiac Rhythm Management
- Pain Management
- Radiofrequency Ablation Devices Regional Outlook (Revenue, USD Million, 2015 - 2026)
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
- South Africa
Find more research reports on Medical Devices Industry, by Grand View Research:
- Medical Nonwoven Disposables Market - Growing prevalence of incontinence coupled with increasing prevalence of hospital acquired infections is expected to drive the medical nonwoven disposables market during the forecast period
- Cosmetic Implants Market - Changing lifestyle triggering the demand for cosmetic procedures is expected to boost the growth of the cosmetic implants market over the next six years
- Guidewires Market Increasing demand for minimally invasive interventions is expected to serve the global guidewires market as a high impact rendering driver
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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