Radiofrequency Ablation Devices Market: Emerging Applications of Radiofrequency Ablation Technology
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The radiofrequency ablation devices market was valued at US$ 3,302.55 million in 2019 and is projected to reach US$ 7,711.72 million by 2027; it is expected to grow at a CAGR of 1.5% during 2020-2027.
In a radiofrequency ablation procedure, the physician uses a device which transmits radiofrequency energy and destroys the target tissue. This technology has been widely used to treat solid tumors, arrhythmias, uterine fibroids, and other medical conditions. The global radiofrequency ablation devicesmarket is driven by factors such as emerging applications of radiofrequency ablation technologyand increasing preference for minimally invasive procedures. However, side effects associated with radiofrequency ablationis likely to obstruct the growth of the radiofrequency ablation devices market during the forecast period.
Leading companies like Avanos Medical, Inc., Stryker, Abbott, Medtronic, Boston Scientific, Bard (BD), Angiodynamic, Hologic, Articure, and Merit medical are among the leading companies operating in the radiofrequency ablation devices market.
Based on the product, the global radiofrequency ablation devices market is segmented into devices and disposables. The disposables segment accounted for the largest market share in the global radiofrequency ablation devices market in 2019. Disposables are used in every radiofrequency ablation surgery and are an essential part of RFA surgery. Therefore, such an extensive application will increase its demand during the forecast period. Moreover, product developments by the market players are also likely to enhance the market growth of the segment during the forecast period. Based on the application, the radiofrequency ablation devices market is segmented into surgical oncology, cardiology, gynecology, cosmetology, and pain management.
The radiofrequency ablation technology has gained a lot of attention in dermatology stream of medicinal sciences and has been used for surgical management of skin lesions, benign skin conditions such as freckles, dermatitis papulosanigra, acne, and skin tags. Radio ablation is also widely used in gynecology to treat uterine fibroids.
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