Categories: Market Research

Radiofrequency Ablation Devices Market Forecast 2024-2033: Growth Rate, Drivers, And Trends

The Radiofrequency Ablation Devices Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Radiofrequency Ablation Devices Global Market Report 2024, 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.

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.

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The radiofrequency ablation devices market covered in this report is segmented –

1) By Product Type: Disposables Equipment, Reusables Equipment, Capital Equipment

2) By Application: Oncology, Cardiology And Cardiac Rhythm Management, Gynecology, Pain Management, Other Applications

3) By End-User: Hospitals, Ambulatory Surgical Centers, Other End Users

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.

The radiofrequency ablation devices market report table of contents includes: