Global radiofrequencyablation devices market is expected to
reach USD 8.85 billion by 2020, according to a new study by Grand View
Research, Inc. Increasing prevalence of target disorders related to pain such
as BPO (benign prostatic obstruction) and osteoporosis pain and growing global
geriatric population base is expected to serve this market as high impact
rendering drivers. Technology innovation in each product segment in terms of
cost effectiveness and user friendliness is also expected to further market
demand.
Surgical oncology dominated the overall
market in terms of share and was valued at over USD 1 billion in 2013 majorly
on account of high procedure volumes and cancer prevalence. However, the
radiofrequency ablation devices for hypertension market on account of
increasing demand from patients and subsequent increase in R&D initiatives
is expected to grow at the fastest CAGR during the forecast period.
Full research report on radiofrequency ablation devices market analysis: http://www.grandviewresearch.com/industry-analysis/radiofrequency-ablation-devices-market
Further key findings from the study suggest:
·
Global radiofrequency ablation devices
market was 19,619.0 thousand units in 2013 and is expected to reach 78,899.1
thousand units by 2020, growing at a CAGR of 22.0% over the next six years.
·
Disposable radiofrequency ablation devices
accounted for the largest market share in 2013 and are expected to grow at a
CAGR over 20.0% from 2014 to 2020. Increasing government initiatives aimed at
curbing post surgery hospital acquired infections and cost effectiveness
associated with these products are two factors accounting for its rapid growth.
·
North America, owing to the presence of
high healthcare expenditure, sophisticated healthcare infrastructure and
increasing prevalence of pain related problems dominated the overall market in
terms of revenue in 2013. As per the Community Chiropractic Centre report, over
31.0% of Americans suffer from back pain problems and such large presence of
target patients is expected to boost the demand for radiofrequency ablation
devices in the region.
·
The Asia Pacific radiofrequency ablation
devices market is expected to grow at a CAGR of over 20.0% during the forecast
period. Rapidly growing economic conditions and improving healthcare
infrastructure in the emerging markets of China and India are expected to
present the market with lucrative growth opportunities. Introduction of
technological advancements such as multi needle electrode on the grounds of
accuracy, portability and cost effectiveness is also expected to serve this
market as a driver by catering to changing customer requirements.
·
Some key market players of radiofrequency
ablation devices include Stryker Corp., Accuray, St. Jude Medical Inc.,
Neurotherm Inc., Biosense Webster, Diros Technology Inc., Cosman Medical Inc.
and Kimberly-Clark Corporation.
·
The market is marked by the presence of
strategic mergers and acquisitions aimed at improving distribution networks,
product portfolio and regional presence. For example, Stryker Corporation
announced the acquisition of Berchtold Holding AG in April 2014. This
initiative is expected to strengthen Stryker Corporation’s presence in the
business segment catering to radiofrequency ablation devices based chronic pain
management.
View more reports of this category by Grand View Research
at: https://www.grandviewresearch.com/industry/medical-devices
Grand View Research has segmented the
global radiofrequency ablation devices market on the basis of product,
application and region:
Global Radiofrequency Ablation Devices Product Outlook
(Volume, Thousand units; Revenue, USD Million, 2012 - 2020)
·
Capital equipment
o Radiofrequency ablation generator
·
Reusable equipment
o Radiofrequency ablation probes
o Radiofrequency ablation electrodes
·
Disposable equipment
o Radiofrequency ablation cannulas
o Radiofrequency ablation needles
o Radiofrequency ablation single use probes
o Radiofrequency ablation single use electrodes
Global Radiofrequency Ablation Devices Application
Outlook (Volume, Thousand units; Revenue, USD Million, 2012 - 2020)
·
Surgical oncology
·
Cardiology and cardiac rhythm management
·
Pain management
·
Gynecology
·
Hypertension
·
Cosmetology
Radiofrequency Ablation Devices Regional Outlook (Volume,
Thousand units; Revenue, USD Million, 2012 - 2020)
·
North America
·
Europe
·
Asia Pacific
·
RoW
View press
release of this research report by Grand View Research: https://www.grandviewresearch.com/press-release/global-radiofrequency-ablation-devices-market
About Grand
View Research
Grand View Research, Inc. is a U.S. based market research and consulting
company, registered in the State of California and headquartered in San
Francisco. The company provides syndicated research reports, customized
research reports, and consulting services. To help clients make informed
business decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
