Radiofrequency ablation device is an electrical conduction system that utilizes high frequency alternating current to convert electromagnetic energy into heat energy. Radiofrequency ablation is a minimally invasive technique to treat medical conditions like cancer tumors with imaging techniques including magnetic resonance imaging, ultrasound and computed tomography. Radiofrequency ablation devices use non-surgical procedures to destroy carcinogenic cells by removing the obstructive tissues and nerves. The technique involves insertion of needle through the skin onto the tumour to target the abnormal tissues with radiofrequency electrical energy causing the tumour to heat through an active electrode tip. Radiofrequency ablation technology has wide applications in medical fields such as oncology, cerebral tumours, gynecology, cardiac rhythm and renal denervation for hypertension, pain management, and cosmetology.
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Rising Prevalence of Chronic Pain to have sizeable positive impact on market growth
According to The American Academy of Pain Medicine, in 2012, 1.5 billion people were estimated to suffer from chronic pain globally, with the incidence rate increasing complementary to age. Rising incidence of cancerous tumors, arrhythmia, tachycardia and chronic pain in the global population ensures the global radiofrequency ablation device market to grow steadily. The presence of high procedure volumes ensuring non-surgical procedures and fast recovery of the patients is a key factor attributing to the rising demand of radiofrequency ablation. The radiofrequency ablation market is driven by its feature of specificity that targets only the particular sites within the tissue, causing negligible damage to the surrounding tissues. Additionally, increasing usage in ambulatory surgical centers owing to lesser number of complications post-surgery is expected to boost the growth of global radiofrequency ablation devices in the forecast period.
Increasing number of atrial fibrillation cases is expected to dominate North America in radiofrequency ablation device market
Regional segmentation of the surgical microscopes market by Coherent Market Insights comprises North America, Europe, Asia-Pacific, Latin America and Middle East and Africa. According to Centers for Disease Control & Prevention, an estimated 2.7-6.1 million people in the U.S., suffer from atrial fibrillation for which more than 750,000 hospitalizations occur each year, thus increasing the demand of radiofrequency ablation devices. The presence of high patient awareness, knowledge pertaining to ablation treatments, sophisticated reimbursement framework and usage of advanced technologies are the factors due to which North America is dominating in the global radiofrequency ablation device market. The market in Asia Pacific is expected to rise over the forecast period owing to the government initiatives to ensure improved healthcare access, availability of large number of patients with unmet medical needs and increased spending capacity of patients.
The emergence of innovative portfolios to address multiple applications targeting single medical condition fuels the demand by some manufacturers
Key players of the radiofrequency ablation device market include Boston Scientific, St Jude Medical, Medtronic, Covidien and Stryker. Other prominent vendors include Imricor Medical Systems, AtriCure, BIOTRONIK, MicroPort Scientific and Spacelabs Healthcare. The strategies adopted by the manufacturers include addressing multiple applications like tumor ablation with pain management for treating single medical condition. For instance, St Jude Medical’s portfolio addresses arrhythmia through devices such as denervation system and neuromodulation for chronic pain.
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The disposables equipment segment accounts for a larger share in radiofrequency ablation device market
The global radiofrequency ablation device market is segmented on the basis of product type, application, end user and geography.
On the basis of product type: Disposable Equipment,Cannula,Needles,Capital Equipment,Radiofrequency Generators,Reusable Equipment,Probes,Electrodes,.
On the basis of applications: Surgical Oncology,Gynecology,Cosmetology,Cardiology & Cardiac Rhythm Management,Hypertension,Others,.
On the basis of end user: Hospitals,Specialty Clinics,Ambulatory Surgical Centers,.