The increasing prevalence of cancer and rising demand for treating such chronic diseases are propelling the global radiofrequency ablation systems market, finds Fortune Business Insights in their recent study. The study is titled, “Radiofrequency Ablation Systems Market: Global Market Analysis, Insights, and Forecasts, 2018 – 2025.” The market, as per study, will exhibit growth at a promising CAGR on account of rising prevalence of both cardiovascular and chronic diseases around the world.
Fortune Business Insight forecasts the oncology segment to hold a considerable share in the market with respect to applications. This is owing to the higher adoption of radiofrequency ablation devices in the treatment of cancer in both developed and developing nations.
Gradual Shift Towards Minimally Invasive Procedures Fuels Demand for Radiofrequency Ablation Devices
In 2017, a clinical research stated that radiofrequency ablation therapies increases the probability of curing cancer by an estimated percentage of 40.0%. In addition to this, nearly 60% of cancer patients undergo radiotherapies.
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Radiofrequency ablation process destroys the tissues that cause cancer and using this non-surgical method also destroys the nerves that sends pain signals to the brain. Thus, patient preference for radiofrequency ablation is increasing and this will drive the market in the coming years.
Radiofrequency ablation technique uses heat for killing cancer cells and interrupts pain signals sent to the brain by the affected nerves. It is used during cardiac procedures, for eliminating tumors and during chronic pain. It is preferred more as compared to other surgical procedures and is completely safe. Such factors bode well for the market during the forecast period.
The rising geriatric population and their susceptibility towards various chronic and cardiovascular diseases are boosting the global market for radiofrequency ablation systems market. Besides this, patients are gradually shifting to minimally invasive procedures from conventional procedures and this will help the market earn more revenues during the forecast period.
However, the market may face challenges in terms of high maintenance cost and lower accessibility in developing nations. This coupled with, the lack of awareness about such painless procedures may restrict the market’s growth. Furthermore, the availability of other treatment methods may cause hindrance to the radiofrequency ablation system market in the long run.
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Nevertheless, the high effectiveness of radiofrequency ablation techniques and short time span for treatment procedure take will provide lucrative growth opportunities for the market during the forecast period.
Emerging Nations to Exhibit High Demand for Radiofrequency Ablation Systems in Market
The rise in prevalence of chronic diseases such as chronic neck and back pain, cardiac arrest, and cancer is helping North America to emerge dominant. This, accompanied by the need for safe surgical procedures and adoption of non-invasive surgical procedures will help North America to continue dominating the market in the coming years.
On the other side, the market for radiofrequency ablation in Asia Pacific and the Middle East and Africa are expected to have great potential for growth. This is due to the increasing prevalence of cancer and the need for providing remedial measures in the developing nations of the respective regions.
Some of the companies operating in the region are Johnson & Johnson Services, Inc., RF MEDICAL, AtriCure, Inc., ENDO-FLEX GmbH, Bramsys Indústria e Comércio Ltda., Gynesonics, Inc., Medtronic, Boston Scientific Corporation, Hologic Inc., RZ Medizintechnik, Sutter Medizintechnik GmbH, AngioDynamics, Stryker, and Abbott.
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