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Radiofrequency Ablation Devices for Pain Management Market will rise to US$ 1114.5 Million by 2024

05-29-2017 02:02 PM CET | Health & Medicine

Press release from: Transparency Market Research

Radiofrequency Ablation Devices for Pain Management Market

Radiofrequency Ablation Devices for Pain Management Market

The radiofrequency ablation devices for pain management market features a markedly high level of consolidation, with the top three vendors, St. Jude Medical, Inc., Halyard Health, Inc., and Boston Scientific Corporation, accounting for a share of over 88% in 2015, observes Transparency Market Research. “These companies have strengthened their hold on the market owing to diversified product portfolios, extensive geographical presence, and strategic acquisitions over the past few years,” states a TMR analyst. Increased focus on emerging economies and increase in product launches are some of the most popular strategies adopted by top players.

Transparency Market Research states that the global radiofrequency ablation devices for pain management market, which valued at US$372.7 mn in 2015, is expected to rise to US$1,114.5 mn in 2024. This translates to a potential 13.0% CAGR over the period between 2016 and 2024.

In terms of product varieties, the segment of disposable RF products dominated, accounting for a 40% of the overall market in 2015. The segment of RF generators is expected to exhibit expansion at the most promising pace over the forecast period. From a geographic perspective, the market in North America dominated in 2015, accounting for over 40% of the global market in 2015. However, the global market is expected to witness most lucrative growth opportunities in emerging economies across regions such as Asia Pacific and Latin America over the forecast period.

This 154 page report gives readers a comprehensive overview of the Radiofrequency Ablation Devices for Pain Management Market. Browse through 37 data tables and 56 figures to unlock the hidden opportunities in this market: http://www.transparencymarketresearch.com/radiofrequency-ablation-devices.html

The rising prevalence of chronic pain conditions and the rising geriatric population of the world are among the key factors leading to the rising global demand for pain management therapies such as the ones that use radiofrequency ablation devices. The global market for these devices for pain management is also highly influenced by the rising demand for minimally invasive procedures across the globe.

Benefits such as lesser post-surgery complications, low chances of side effects, and shorter span of recovery work in favor of minimally invasive surgeries and related devices. Radiofrequency ablation devices for pain management are also gaining increased focus owing to the higher known side effects and lower efficiency of alternate pain relief procedures and therapeutics options such as acupressure, acupuncture, and opioids. The easy availability, cost-effectiveness, and easy access to highly effective radiofrequency ablation devices for pain management have also propelled the market for these devices of late.

Get accurate market forecast and analysis on the Radiofrequency Ablation Devices for Pain Management Market. Request a sample to stay abreast on the key trends impacting this market: http://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=985

The need to comply with stringent laws and regulations set by regulatory authorities that are closely associated with product approvals, clinical trials, design, development, and commercialization hamper the overall development of the market to a sizable extent. Ablation devices come under class III medical device category in Europe and the U.S. Owing to this, the efficacy and safety of devices such as catheters and generators are paramount to gain approval. Strict regulations do not only delay approval, launch, and marketing of these products but also lead to increased prices.

Decisions of regulatory authorities and cost containment measures undertaken by government authorities also have a negative impact on the reimbursement scenario and restrain the market for radiofrequency ablation devices for pain management. Along with these factors, the low costs of several pain management therapeutic options such as anticonvulsants, antidepressants, and NSAIDs also significantly impact and restrain the overall development of the global radiofrequency ablation devices for pain management market.

About Us

Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants, use proprietary data sources and various tools and techniques to gather, and analyze information.

Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.

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