Major companies have shifted their focus on R&D activities in the RFAD market, resulting in large number of product developments (approvals & launches), and in turn contributing to the market growth. Acquisition is the another key strategy adopted by larger companies to acquire smaller and emerging companies, owing to the presence of large number of small- to mid-sized companies in the radio-frequency ablation devices market.
Global Radiofrequency Ablation Devices Market was valued at $1,729 million in 2015, and is expected to reach $3,785 million by 2022, supported by a CAGR of 11.8% during the forecast period 2016-2022. Radiofrequency ablation (RFA) is a minimally invasive procedure, appropriate for patients with cardiac diseases (such as atrial fibrillation (AF), atrial flutter, cardiac arrhythmias), cancer and pain management. It has become a method of choice because of its high efficacy, ease of use, and safety. RFA is being increasingly used for the treatment of many diseases. such as cancer and cardiac arrhythmia.
The market growth is favored by the increase in prevalence of cardiovascular diseases, such as, atrial fibrillation, incidence of patients’ suffering from cancer and pain, and increase in demand for minimally-invasive procedures. The use of ultrasound ablation technology in RFAD is also augmenting the popularity of these devices. However, the market is limited by the high treatment cost, low awareness about the procedure, and availability of other treatments. It is estimated that the impact of drivers is expected to be higher than the restraints. Moreover, lucrative growth opportunities, such as expansion in emerging markets, untapped market in the developing regions, and technological advancements in RFA.
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Based on product type, the RFA devices market can be segmented into devices and disposables. The device segment consists of RF generator, which is the main component of the RFA device. It generates electric current in the range of radiofrequency waves, and this current is transmitted through the insulated needle to deactivate the nerve and block the pain signal. The generator is connected to the needle electrodes and grounding pads by insulated wires. It uses an unmodified sinusoid that ranges in the frequency of 500 kHz to 6 GHz. The disposables used during radiofrequency ablation procedure include RF cannula, RF needles, RF single-use catheters, RF single-use probes, RF single-use electrodes, RF probes, and RF electrodes.
Geographically, it is analyzed across North America (U.S., Canada, and Mexico); Europe (Germany, France, U.K., Italy, Spain, Russia, and Others); Asia-Pacific (Japan, China, India, Australia, South Korea, Taiwan, and Others); and LAMEA (Brazil, Turkey, Venezuela, Saudi Arabia, Republic of South Africa, and Others).
Acquisition was another key strategy adopted by larger companies to acquire smaller and emerging companies, owing to the presence of large number of small- to mid-sized companies manufacturing RF devices. This is evident from the strategic acquisition of Cosman Medical, Inc., a mass manufacturer of radiofrequency ablation systems, by Boston Scientific Corporation in July 2016. The Cosman Medical team and products will become a part of the Boston Scientific Neuromodulation business, which offers a wide range of spinal cord stimulator (SCS) systems to treat patients with chronic pain, and deep brain stimulation systems to treat Parkinson’s disease, dystonia, and essential tremor.
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North America is the largest market for radiofrequency ablation devices. Newest technologies having tremendous potential and precision are developed, tested, and launched in North America, thus making it a premier market for radiofrequency ablation devices. Europe was the second leading regional market with majority revenue contribution from Germany, U.K., and France.
The key players profiled in this report include Halyard Health, Inc., Stryker Corporation, St. Jude Medical, Inc., Medtronic Plc, Boston Scientific Corporation, C. R. Bard, Inc., AngioDynamics, Inc., Hologic, Inc., AtriCure, Inc., and Johnson & Johnson. Other players in the RFAD industry include Baylis Medical, Arthrex, Inc., inomed Medizintechnik GmbH, Sutter Medizintechnik GmbH, Bramsys Indústria e Comércio Ltda, ENDO-FLEX GmbH, Epimed International, and sfm medical devices GmbH.