Radiofrequency Ablation Devices Global Market is Projected to Increase Revenues Growth, Business Insights, Future Demand and Forecast 2024-2033

"The Business Research Company recently released a comprehensive report on the Global Radiofrequency Ablation Devices Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

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According to The Business Research Company's, The radiofrequency ablation devices market size has grown rapidly in recent years. It will grow from $4.27 billion in 2023 to $4.84 billion in 2024 at a compound annual growth rate (CAGR) of 13.3%. The growth in the historic period can be attributed to clinical acceptance, rise in chronic diseases, patient demand, regulatory approvals, training and education.

The radiofrequency ablation devices market size is expected to see rapid growth in the next few years. It will grow to $7.6 billion in 2028 at a compound annual growth rate (CAGR) of 11.9%. The growth in the forecast period can be attributed to growing geriatric population, regenerative medicine, value-based healthcare, telemedicine integration, shift towards minimally invasive procedures. Major trends in the forecast period include portable ablation devices, combination therapies, cancer ablation techniques, enhanced safety features, remote and robotic assistance.

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Market Drivers and Trends:

Increasing chronic diseases are driving the growth of the radiofrequency ablation devices market going forward. Chronic diseases are problems that last a year or longer, necessitating continuing medical care, restricting everyday activities, or both. Radiofrequency ablation devices are used in chronic diseases to relieve people with chronic and arthritic joint pain. It is often used to shrink the size of tumors, nodules, or other growths in the body. For instance, in January 2023, according to the National Library of Medicine, a US-based biomedical library, it was projected that by the year 2050, the number of individuals aged 50 years and older who have at least one chronic illness would surge by 99.5%, rising from 71.522 million in 2020 to 142.66 million. As a result, increasing chronic diseases are propelling the growth of the radiofrequency ablation devices market.

Technological advancement is a key trend gaining popularity in the radiofrequency ablation devices market. Major companies operating in the radiofrequency ablation devices market are focused on innovating new technical solutions to sustain their position in the market. For instance, in April 2023, Compal Electronics, a Taiwan-based electronics company, launched AblatePal, a new radiofrequency ablation (RFA) system for percutaneous and intraoperative coagulation and ablation of soft tissue. This RFA system uses the heat energy produced by electrical resistance when current flows through the tissue to cauterize the tumor and cause tumor necrosis. Its advanced cooling technology prevents damage to normal tissue and has positive results that can reduce the size of the wound and shorten the length of time patients must stay in the hospital.

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Major Key Players of the Market:

Johnson And Johnson Co, Abbott Laboratories, Medtronic PLC, Siemens Healthineers, Becton, Dickinson and Company, Koninklijke Philips NV, Stryker Corporation, Boston Scientific Corporation, Olympus Corporation, Smith And Nephew PLC, Ethicon Inc., Hologic Inc., Arthrex Inc., Halyard Health 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.

Radiofrequency Ablation Devices Market 2024 Key Insights:

• The radiofrequency ablation devices market size is expected to see rapid growth in the next few years. It will grow to $7.6 billion in 2028 at a compound annual growth rate (CAGR) of 11.9%.
• Growing Burden Of Chronic Diseases Fuels Radiofrequency Ablation Devices Market Expansion
• Technological Innovation Drives The Radiofrequency Ablation Device Market With Advanced Solutions
• North America was the largest region in the radiofrequency ablation devices market in 2023

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