North America Radiofrequency Ablation Devices Market Key Details and Outlook by Top Companies till 2027

The North America radiofrequency ablation devices market is anticipated to reach US$ 3,214.24 Mn by 2027 from US$ 1,347.06 Mn in 2019. The market is projected to grow at a CAGR of 11.8% from 2020 to 2027.

Introduction

Radiofrequency ablation (RFA) is a medical procedure that uses electrical currents to generate heat, targeting specific tissues, such as tumors or problematic nerve tissues, to treat various conditions. RFA has gained immense popularity in the healthcare industry due to its minimally invasive nature, precision, and ability to treat a wide range of conditions, including cancer, chronic pain, and cardiovascular diseases. The North American Radiofrequency Ablation Devices Market has witnessed substantial growth over the past few years, driven by advancements in technology, increasing prevalence of chronic diseases, and rising demand for minimally invasive treatment options.

This article provides an in-depth analysis of the North American Radiofrequency Ablation Devices Market, exploring key market trends, drivers, challenges, opportunities, and competitive landscape.

Market Overview

Radiofrequency ablation devices are widely used for a variety of medical purposes, including oncology, cardiology, and pain management. These devices primarily consist of a generator, electrodes, and catheters. The generator delivers high-frequency electrical currents to the electrode, which in turn applies heat to the target tissue. This process destroys or cauterizes the tissue, leading to therapeutic effects.

The North American market for radiofrequency ablation devices is one of the largest globally, owing to factors such as advanced healthcare infrastructure, the availability of skilled professionals, and high healthcare expenditure. The United States and Canada are the primary markets for radiofrequency ablation devices in North America, accounting for a significant portion of the market share.

North America Radiofrequency Ablation Devices Market The radiofrequency ablation devices transmit the energy of radiofrequency waves and destroy the target tissue. North America Radiofrequency Ablation Devices Market This technology has been widely in use to treat solid tumors, arrhythmias, uterine fibroids, and other medical conditions. The growth of the market in North America is driven by factors such as the increasing incidence of chronic illness and growing preference for minimally invasive proceduresin the region. However, side-effects associated with radiofrequency ablation restrain the market growth to a certain extent.

North America Radiofrequency Ablation Devices Market Growing healthcare expenditure is another factor contributing to growth of the North America radiofrequency ablation device market. The rise in the number of patients getting admitted to hospitals to cure suffering from different types of pain, highinsurance premium policies,and high deductibles in hospitals are among the factors responsible for the surge in healthcare costs. North America Radiofrequency Ablation Devices Market According to a study by the American Medical Association, in 2017,the US spent ~US$3.5 trillion on healthcare.Moreover, as per a study published in the Journal of the American Medical Association (JAMA) in March 2019, healthcare expenditure in the US during 1996-2015 rose nearly by US$ 1 trillion. The study reported that the overall healthcare spending in the US was US$3.5 trillion, i.e., ~US$11,000 per person,in 2017, and these costs are expected to climb to US$6 trillion-i.e., ~US$17,000 per person.Further, the increase in the incidence of chronic conditions has had a direct impact on increases in the cost of medical care, and almost half of the Americans have some form of chronic illness.

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North America Radiofrequency Ablation Devices Market The RFA treatment is a prime trend in pain management nowadays, and in treatment of chronic illness associated with advancement in technology and healthcare infrastructure facilities is anticipated to havea positive influence in the revenue generation from radiofrequency ablation devices. Minimally invasive treatment procedures are associated with smaller incisions, less pain, shorter hospital stay, faster recovery, North America Radiofrequency Ablation Devices Market less scarring, and increased accuracy, which is leading to a greater preference for these procedures around the world. Moreover, due to lowered pain and discomfort, patients undergoing minimally invasive surgeries do not require large doses of painkillers. Such procedures have small size of the incision, which helps in healing faster than conventional surgeries, thereby allowing patients to get back to their normal lives as quickly as possible.Ablation is one of the most frequently used minimallyinvasive techniques for the treatment of various tumors, AF, and uterine fibroids.According to the American Society for Aestethic Plastic Surgery,the number of minimally invasive cosmetic procedures in the US increased from ~13.9 million in 2014 to 14.2 million in 2015.

North America Radiofrequency Ablation Devices Market The radiofrequency ablation procedure involves the injection of local anesthesia, followed by the insertion of a thin needle through a tiny incision to pass heat and electrical energy. North America Radiofrequency Ablation Devices Market The technology avoids scars and other risks associated with traditional open surgeries. Moreover, as the procedure is devoid of large cuts, it can be carried on extremely sick or old patients, as they cannot bear the stress associated with open surgeries. The completion of the total procedure takes 30-90 minutes, and the patients are monitored for a day, or in several cases, they are discharged on the same day. Further, they can recover in less time and can get back to daily life in ~1-3 weeks. Thus, the benefits associated with the minimal invasiveness of theprocedure of radiofrequency ablation treatment are driving the growth of the market.

North America Radiofrequency Ablation Devices Market North America is witnessing the rapidly growing number of COVID-19 cases; for instance, in the US, the number of cases has been increased to 614,246, with 26,064 deaths reported. According to the Breastcancer.org, in the country, many doctors, hospitals, and other healthcare facilities are delaying or canceling the breast cancer procedures and surgeries, as well as screenings or other treatments if they are not considered urgent, emergencies, or otherwise indicated for life-threatening conditions. Thus, the prevailing COVID-19 pandemic is likely to affect the radiofrequency ablation devices market growing in the coming months.

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The List of Companies

Avanos Medical, Inc.

Stryker

Abbott

Boston Scientific

Bard (BD)

Angiodynamic

Hologic

Articure

Merit medical

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