A medical operation known as radiofrequency ablation (RFA) uses heat radiation to reduce the size of tumors and other growths in the body or to relieve discomfort. Numerous medical disorders, such as benign or malignant tumors, persistent neck or back pain, and chronic venous insufficiency felt in the legs, are treated with this method. The procedure necessitates the introduction of a needle-like probe into the patient’s body and is quite similar to a needle biopsy.
The market worth of radiofrequency ablation devices in 2021 was USD 3.9 billion, and it will be worth USD 10.7 billion by 2030, growing at an 11.32% CAGR during the forecast period.
The growing number of cancer patients driving up research and development and expenditure in cancer treatments will fuel the expansion of the market for radiofrequency ablation devices. The kidney, lungs, liver, adrenal gland, thyroid, and pancreas are among the most common cancers treated with the RFA procedure.
Market Dynamics
Drivers
One of the key factors driving the market’s overall expansion is the rise in cardiovascular illnesses and cancer cases worldwide (including lung, liver, kidney, bone, and pancreatic cancers, as well as hepatocellular carcinoma and bile duct cancer).
Furthermore, the market is driven by the increased demand for pain management (such as using medications to treat arthritis and other chronic pain conditions). The market is expanding steadily over 2020–2030, with a CAGR of 5.017%.
Restraint
The main factors severely impeding the market’s growth include hyperesthesia, damage to the structures next to the target nerve, muscle tissue damage, and excessive itching at the injection site.
Opportunity
Global improvements in RFA of Cardiac Arrhythmia have created new opportunities for procedural safety. The ability of RFA devices to treat arrhythmia with or without fluoroscopy has significantly increased with the introduction of both ICE imaging and EAM methods. Consequently, demand for RFA will increase exponentially in the future.
Market Segmentation
By Product, with a consistent CAGR, the disposable category ruled the market in 2020. The overall expansion of this market is being driven by the worldwide decline in morbidity and mortality rates and the RFA devices’ capacity to deliver treatment in an outpatient setting.
Application Insights, in 2020, the market was largely ruled by the Surgical Oncology segment. Removing malignant tissues from the body is the main goal of surgical oncology (Surgical Biopsy). Over 1 million biopsies are performed annually using EUS fine-needle devices worldwide, according to BIBB INSTRUMENTS. Over 1200 hospitals use endoscopic ultrasound to diagnose cancer patients in the United States alone.
By end-user, in 2020, the hospital segment ruled the overall market with the largest revenue share. The hospitals in the United States spent a total of USD 36 billion on medical supplies in 2018, averaging USD 11.9 Mn per facility, according to DEFINITIVE HEALTHCARE.
Regional Insights
North America ruled the market with a CAGR of 11.973% and total revenues of 1.513 billion in 2020. The constant rise in cancer incidence, quick technology improvements in RFA and other medical devices, and rising government spending on healthcare facilities are all driving this market’s overall expansion.
However, Asia Pacific is the fastest growing market. The emergence of innovative technologies, such as multi-needle electrodes, and the swift development of healthcare infrastructure in China and India are both heavily promoting the expansion of this industry.
Key Players
- St. Jude Medical
- Medtronic Plc
- Halyard Health
- Boston Scientific Corporation
- Stryker Corporation
- AtriCure
- AngioDynamics
- C. R. Bard
- Hologic
- Johnson & Johnson
- InomedMedizintechnik GmbH
- BramsysIndústria e ComércioLtda
- Sutter MedizintechnikGmbh
- Epimed International
- Baylis Medical
- Arthrex
- ENDO-FLEX GmbH
- Sfm Medical Devices Gmbh
The market worth of radiofrequency ablation devices in 2021 was USD 3.9 billion, and it will be worth USD 10.7 billion by 2030, growing at an 11.32% CAGR during the forecast period. The rise in the prevalence of chronic pain sufferers due to obesity, diabetes, osteoarthritis, cancer, and rheumatoid arthritis has also led to the expansion of the RFAD market. However, the high cost of this technology and the need for patient awareness are impeding market expansion.
