Global Radiofrequency Ablation Market will increase by CAGR 11.60% till 2020
Zion Market Research has published a new report titled “Radiofrequency Ablation (Capital Equipment, Disposable Equipment and Reusable Equipment) Market: Global Industry Perspective, Comprehensive Analysis and Forecast, 2014 – 2020.” According to the report, global demand for radiofrequency ablation devices market was valued at around USD 361.5 million in 2014 and is expected to reach USD 696.5 million in 2020, growing at a CAGR of around 11.60% between 2015 and 2020.
In 2014, North America dominated the market for radiofrequency ablation devices with 42.10% market share followed by Europe. This was mainly contributed by implementation of advance technologies and high acceptance for radiofrequency ablation for treating various diseases. Asia Pacific is likely to experience high-growth over the period due to large pool of patients with unmet medical requirements, and support from the government for development of healthcare sector.
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In recent couple of years radiofrequency ablation has gained huge demand due to its safety, convenience and rapid advancement in the image guided tumor ablation. Radiofrequency ablation is the method with minimal invasion for expel of unwanted tissue, tumor and is appropriate for inoperable patients. The radiofrequency ablation procedure involves partially insulated electrodes directly inserted into the tumor. Radiofrequency energy pass through the probes causing agitation and friction, further the friction generates the heat which removes the target tissue.
Some of the key participants in this market are Angiodynamics, Boston Scientific, Covidien, CardioFocus, St Jude Medical and Stryker. Boston Scientific is one of the global leaders for tumor ablation market due to the adoption of strategies like new product launch, advance manufacturing facilities, joint venture and acquisitions.
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Ever increasing incidence of patients infected by cancer and many other diverse diseases are expected to fuel the growth of radiofrequency ablation market. Moreover, adoption of the minimum invasion procedures for the less pain and time saving practice has influence the growth of radiofrequency ablation market. Huge maintenance and operating cost are the restrains for the radiofrequency ablation market. However, acceptance of ablation over conventional methods along with the growing demand from the developing regions is likely to open new avenue for the growth of radiofrequency ablation market.
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Based on product the radiofrequency ablation market is segmented into capital equipment, disposable equipment and reusable equipment. Reusable equipment is further classified into RF electrodes and probes. Disposable equipment consists of needles, cannulas, single-use electrodes and single-use probes. With around 42.16% of market share disposable equipment led the market in 2014. Increasing usage of the minimal invasive practices couple with the avoidance of infections are some of the factors to spur the market growth.. Rising demand of needles and cannulas accelerates the demand for disposable equipment market.
This report segments the global radiofrequency ablation devices market as follows:
Type Segment Analysis: Capital Equipment (RF Generators), Reusable’s, Disposables
Regional Segment Analysis: North America, Europe, Asia Pacific, Latin America, Middle East and Africa
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