Post procedure infection and lower risk of tissue damage, cost effectiveness and quick recovery associated with ablation procedures are few factors likely to boost the overall market for radiofrequency ablation devices. Also, these devices are increasingly used for treatments in fields of hypertension, pin management cardiac rhythm management, cosmetology and gynecology. The worldwide radiofrequency ablation devices market contributed over USD 2,722 million in 2013 and is further anticipated to grow at a CAGR of over 18%over the forecast period.
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Increasing prevalence of disorders associated to chronic pain such as arthritis and osteoporosis, generally in old aged population coupled with introduction of technological advancements like bipolar technology and thermocouple sensor in the market is projected to augment industry growth over the coming years. Rising use of radiofrequency ablation procedures in emerging economies such as India, Brazil, China and Russia is projected to provide new opportunities for the industry participants in the region.
Increasing disposable income, improving healthcare infrastructure and rising patient awareness in these regions are expected to expand the demand and trigger the usage rates of minimally invasive surgeries. Reusable equipment involves electrodes and RF probes. Single use electrodes, cannulas, single –use probes and needles are the disposable equipment. In 2013, disposable equipment was the major product segment due to its rising prevalence of hospital acquired infections. In addition, rising volume of minimally invasive medical procedures will augment the industry demand.
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Cardiology, pain management, gynecology, hypertension and surgical oncology are the major applications in the market. In 2013, the industry for surgical oncology contributed for the major share of over 40.01%. In 2013, North America led the radiofrequency ablation devices market. Existence of high patient awareness levels leading to treatments using ablation technologies will affect the market positively. Also, sophisticated reimbursement framework and increased usage rates of advanced technologies are the key drivers of the market. In 2013, Europe was considered as the second largest regional market for radiofrequency ablation devices.
Existence of huge pool of patients with unmet medical needs coupled with execution of government initiatives focused on affecting the Asia Pacific region is expected to be the high-growth market over the forecast period.
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