Radiofrequency Ablation Devices Market Size, Share & Trends Analysis Report By Product (Disposable, Capital, Reusable Equipment), By Application, By Region, And Segment Forecasts, 2019 - 2026

Industry Insights

The global radiofrequency ablation devices market size was valued at USD 2.8 billion in 2018 and is projected to expand with CAGR of 11.6% over the forecast period. The market is majorly driven by growing prevalence of chronic and cardiovascular diseases and preference for minimally invasive surgeries. According to the Centers for Disease Control and Prevention (CDC), Atrial Fibrillation (AF) is projected to affect 17.9 million in Europe by 2060 and 12 million people in the U.S. respectively by 2050.

In addition, growing geriatric population coupled with rising life expectancy is expected to boost the growth. Geriatric people are more susceptible to chronic diseases, driving the demand for highly effective treatment, which in turn boosts the RF ablation market. According to the World Health Organization (WHO), the world’s population aged 60 years and above is expected to reach 2 billion by 2050 from 900 million in 2015. The demographic tends to have the highest disability rate and maximum need for effective care and treatment, which is anticipated to propel the growth.

Growing healthcare expenditure and preference for minimally invasive surgeries has become a major factor driving the market growth. Radiofrequency ablation is an effective treatment for small cancers and can be repeated if new cancer appears. According to the U.S. Census Bureau, the global healthcare spending is anticipated to reach USD 18.28 trillion by 2040, at a CAGR of 2.6%. This is anticipated to positively influence the revenue generation from radiofrequency ablation devices.

Rising prevalence of chronic pain disorders such as arthritis and osteoporosis coupled with improving healthcare infrastructure will propel market growth. According to the U.S. Department of Health & Human Services, in 2015, 15 million adults were suffering from severe joint pain due to arthritis and by 2040 an estimated 78 million (26%) U.S. adults aged 18 years and above are anticipated to be diagnosed with arthritis.

Product Insights

Based on product, the market is trifurcated into disposable, capital, and reusable equipment. Disposable equipment accounted for the largest market share in 2018 and is expected to witness the fastest CAGR over the forecast period. Advanced technology with the capability of creating large regions of coagulative necrosis in a controlled manner, being relatively low toxic and decreased the risk of complication drive growth of the disposable radiofrequency ablation devices market.

Product launches will drive the market growth over the forecast period. In April 2017, Medtronic launched OsteoCool RF Ablation system in Canada for the indication of bone metastases. This is the only RF ablation system with dual probe capabilities that provides customized, flexible, and predictable treatment.

Application Insights

Based on application, the market is segmented into surgical oncology, cardiology and cardiac rhythm management, pain management, gynecology, and cosmetology. Surgical oncology held the largest market share in 2018. Surgical oncology is gaining traction as radiofrequency ablation can be used to treat cancerous cells to improve the survival of high-risk patients with unresectable and refractory tumors. RF ablation reduces the potential side effects, has lesser recovery time, and can be used on patients suffering from multiple tumors that cannot be treated via open surgery.

Cardiology and cardiac rhythm management segment is expected to expand at the fastest CAGR during the forecast period owing to the increase in the risk of developing Atrial Fibrillation (AF). According to the Department of Health, National Service Framework for Coronary Heart Disease, AF is the most common arrhythmia and catheter ablation method is anticipated to be one of the most commonly performed electrophysiological procedures in the upcoming years, driving the market growth.

Regional Insights

North America is expected to maintain its dominance over the forecast period. Major factors contributing to the regional growth are the high prevalence of cancer, technological advancements, high purchasing power, and government support for quality healthcare. According to the American Cancer Society, Inc., in 2019, approximately 1,762,450 people will be diagnosed with new cases of cancer in the U.S. and 606,880 people will die from the disease.

Asia Pacific is anticipated to exhibit the fastest CAGR over the forecast period. Introduction of advanced technology such as multi-needle electrode showcasing accuracy, portability, and cost-effectiveness is expected to have a positive impact on the regional market. In addition, increasing disposable income, improving healthcare infrastructure, and rapidly growing economic conditions in the emerging markets of China and India are also responsible to fuel the growth in Asia Pacific.

Radiofrequency Ablation Devices Market Share Insights

Some key industry players are Boston Scientific Corporation; Medtronic; Stryker; Cosman Medical, Inc.; St. Jude Medical; Smith & Nephew; Johnson & Johnson (J&J) Services, LLC; and AngioDynamics.

The key players are strengthening their position in the industry through activities such as collaborations, mergers, and acquisitions. For instance, in September 2018, AngioDynamics acquired BioSentry Tract Sealant System technology from Surgical Specialities, LLC and RadiaDyne and its proprietary OARtrac radiation dose monitoring platform to build a continuum of care within the oncology space. This strategy helps the company to expand the oncology business.

Similarly, in July 2017, Boston Scientific Corporation acquired Cosman Medical, Inc., a manufacturer of RF ablation systems. This further expands Boston Scientific’s portfolio with systems such as Spinal Cord Stimulator and Deep Brain Stimulation Systems. In November 2016, OSYPKA AG launched HAT500 radiofrequency (RF) ablation system in Europe that is used for the treatment of ventricular tachycardias.

Report Scope

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2015 to 2026. For the purpose of this study, Grand View Research has segmented the global radiofrequency ablation devices market report based on product, application, and region:

• Product Outlook (Revenue, USD Million, 2015 - 2026)

  • Disposable Equipment

  • Capital Equipment

  • Reusable Equipment

• Application Outlook (Revenue, USD Million, 2015 - 2026)

  • Surgical Oncology

  • Cardiology & Cardiac Rhythm Management

  • Cosmetology

  • Gynecology

  • Pain Management

• Regional Outlook (Revenue, USD Million, 2015 - 2026)

  • North America

    • U.S.

    • Canada

  • Europe

    • U.K.

    • Germany

    • France

    • Italy

    • Spain

  • Asia Pacific

    • China

    • Japan

    • India

  • Latin America

    • Brazil

    • Mexico

  • Middle East & Africa

    • South Africa