Global radiofrequency ablation 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.
View
summary of this report @ http://www.grandviewresearch.com/industry-analysis/radiofrequency-ablation-devices-market
Global radiofrequency ablation devices market, by product, 2012 – 2020 (USD Million)
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.
Browse All Reports of
this category @ http://www.grandviewresearch.com/industry/medical-devices
For
the purpose of this study, 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
• Radiofrequency ablation
generator
• Reusable equipment
• Radiofrequency ablation
probes
• Radiofrequency ablation
electrodes
• Disposable equipment
• Radiofrequency ablation
cannulas
• Radiofrequency ablation
needles
• Radiofrequency ablation single
use probes
• 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
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, the
company offers market intelligence studies ensuring relevant and fact-based
research across a range of industries including technology, chemicals,
materials, healthcare and energy.
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Grand
View Research, Inc.
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