Key Trends and Insights into the Radiofrequency Ablation Devices Market: Growth Rate and Opportunities to 2034
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What key factors are powering the surge in the radiofrequency ablation devices market right now?
In recent times, there has been a significant expansion in the market size of radiofrequency ablation devices. The market, valued at $4.72 billion in 2024, is projected to increase to $5.29 billion in 2025, representing a compound annual growth rate (CAGR) of 12.2%. The notable growth observed in the historic period can be linked to factors such as clinical approval, a spike in chronic illnesses, patient demand, regulatory consent, and initiatives towards training and education.
How fast Is the radiofrequency ablation devices market expected to grow, and what’s its future value?
The market for radiofrequency ablation devices is projected to experience a swift expansion over the coming years. It is predicted to increase to $8.54 billion in 2029, with a compound annual growth rate (CAGR) of 12.7%. This anticipated growth during the forecast period is due to factors such as the increasing ageing population, advancements in regenerative medicine, the transition to value-based healthcare and the integration of telemedicine. Furthermore, the shift towards procedures that are minimally invasive also contributes to this growth. Key trends to look out for during this period includes the growth of portable ablation devices, combination therapies, strategies for cancer ablation, improved safety features, and the use of remote and robotic aids.
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What are the leading drivers of growth in the radiofrequency ablation devices market?
The escalation in chronic diseases is propelling the expansion of the radiofrequency ablation devices market. These enduring health issues, which typically last more than a year, require ongoing medical intervention and may limit daily activities. Radiofrequency ablation devices are utilized for treating chronic diseases by providing relief to individuals suffering from persistent and arthritic joint pain. They are frequently applied to reduce the dimensions of tumors, nodules, and other types of body growths. To illustrate, the National Library of Medicine, a biomedical library based in the US, predicted in January 2023 that the population of individuals aged 50 years and above with at least one chronic disease will inflate by 99.5% by 2050. This translates to an increase from 71.522 million in 2020 to 142.66 million. Consequently, the escalating rates of chronic diseases are driving the expansion of the radiofrequency ablation devices market.
What are the key segments defining the radiofrequency ablation devices market?
The radiofrequency ablation devices market covered in this report is segmented –
1) By Product Type: Disposables Equipment, Reusables Equipment, Capital Equipment
2) By Application: Oncology, Cardiology And Cardiac Rhythm Management, Gynecology, Pain Management, Other Applications
3) By End-User: Hospitals, Ambulatory Surgical Centers, Other End Users
Subsegments:
1) By Disposables Equipment: Ablation Catheters, Electrode Pads, Temperature Probes, Insulated Wires
2) By Reusables Equipment: RF Generators, Handpieces, Lead Wires
3) By Capital Equipment: RF Ablation Systems, Integrated Imaging Systems, Surgical Tables With RF Ablation Features
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Who are the key players steering the development of the radiofrequency ablation devices market?
Major companies operating in the radiofrequency ablation devices market include Johnson And Johnson Co, Abbott Laboratories, Medtronic PLC, Becton, Dickinson and Company, Koninklijke Philips NV, Stryker Corporation, Boston Scientific Corporation, Olympus Corporation, Smith And Nephew PLC, Ethicon Inc., Hologic Inc., Arthrex Inc., BIOTRONIK SE and Co KG, Merit Medical Systems Inc., Conmed Corporation, Avanos Medical Inc., ArtiCure Inc., AngioDynamics Inc., Biosense Webster Inc., Baylis Medical Company Inc., Sutter Medizintechnik GmbH, OSYPKA AG, Inomed Medizintechnik GmbH, St. Jude Medical Inc., Epimed International Inc.
What emerging trends are influencing the growth of the radiofrequency ablation devices market?
The rise in technological advancement represents a noteworthy trend in the radiofrequency ablation devices market. Numerous leading corporations that function in the radiofrequency ablation devices market are concentrating on producing novel technical solutions to maintain their market standing. An illustration of this is when Compal Electronics, an electronics company based in Taiwan, unveiled AblatePal in April 2023. This is a new radiofrequency ablation (RFA) system for the coagulation and ablation of soft tissue both percutaneously and intraoperatively. This RFA system capitalizes on the heat energy resulting from electrical resistance when a current runs through the tissue to incinerate the tumor and cause tumor necrosis. The inclusion of cutting-edge cooling technology averts damage to standard tissue and has yielded favorable results, including reducing the size of the wound and decreasing the hospital duration for patients.
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Which regions are most influential in expanding the radiofrequency ablation devices market?
North America was the largest region in the radiofrequency ablation devices market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the radiofrequency ablation devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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