Radiofrequency Ablation Devices Market is Anticipated to Reach a Value of $5,259 Million By 2025, Growing at a CAGR of 11.1% During The Forecast Period 2018-2025, Says Esticast Research and Consulting
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As per the report “Radiofrequency Ablation Devices Market By End-user (Ambulatory Surgical Centers, Specialty Clinics, Hospitals), By Application (Pain Management, Oncology, Cardiology), Industry Trends, Estimation & Forecast, 2018 – 2025″. Radiofrequency Ablation Devices Market is Anticipated to Reach a Value of $5,259 Million By 2025, Growing at a CAGR of 11.1% During The Forecast Period 2018-2025
In 2017, the devices segment generated the highest revenue share in the global radiofrequency ablation devices market. Among major regions, North America was the highest revenue generating market, holding nearly 40% of the market share, in 2017.
“Market players are focusing on mergers & acquisitions, along with strategic collaborations, in order to achieve a profitable market dynamics. In addition, they are also investing heavily in their R&D activities to explore the potential applications of radiofrequency ablation devices and pave the way for lucrative opportunities during the upcoming years.”
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Radiofrequency ablation devices emerge as an effective solution for pain management
The surging trend of minimally invasive surgeries in the healthcare sector is boosting the demand for radiofrequency ablation devices for managing pain, especially among the geriatric population. The rise in number of geriatric populace across the globe is expected to fuel the growth of RF ablation devices market during the forecast period, as they are the most common chunk of population that suffer from joint disorders such as arthritis. According to the United States Census Bureau, approximately 78.0 million U.S residents are expected to reach the age mark of 65 years and above, by the year 2030.
GLOBAL RADIOFREQUENCY ABLATION DEVICES MARKET SHARE BY REGION, 2017
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North America garnered the highest revenue in the global market, owing to the sedentary lifestyle of the people
North America held nearly 40% market share, in terms of revenue, of the global radiofrequency ablation devices market. The sedentary life style of people in North America has led to the surge in number of patients suffering from various cardiovascular diseases and chronic pain disorders. As per the data cited by Centers for Disease Control and Prevention, the major cause of disability among U.S adults is arthritis. By the year 2020, the number of U.S adults, aged 18 years and above, suffering from arthritis is expected to reach a mark of 63 million, up from the mark of 54 million in 2015. Such mounting statistics and the rising awareness regarding new medical technologies such as minimally invasive surgeries are expected to aid the region in maintaining its dominance in the long run and exhibit a notable growth rate during the forecast period.
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GLOBAL RADIOFREQUENCY ABLATION DEVICES MARKET SHARE OF KEY PLAYERS, 2017
Some key market players are Johnson & Johnson, C. R. Bard Inc., Medtronic Plc, Stryker Corporation, AtriCure Inc., Boston Scientific Corporation, AngioDynamics Inc., Halyard Health Inc., Hologic Inc. and St. Jude Medical Inc.