Radiofrequency-Based Devices System Market Research Report, the most recent study from MarkNtel Advisors, facilitates stakeholders with crucial information on regional and markets. By providing useful information on market insights, definitions, classifications, manufacturing operations, development plans, and investments, this research aims to obtain an in-depth understanding of the market under study. The study also examines how recent trends and events have influenced Radiofrequency-Based Devices System’s consumer prices, growth rates, and market share. Also, it pinpoints an overview of the sector, a thorough study of current market trends and changes, and projections for local growth. So, large organizations adapt to modern trends and technological breakthroughs.
Radiofrequency-Based Devices System Market Report Overview –
Ongoing Trends: Skin rejuvenation is a treatment technique used to repair skin damage caused by aging, sun exposure, medical conditions, etc. The consumer’s growing concern about improving skin appearance and the signs and symptoms of early aging has resulted in increased awareness of the aesthetic treatment of skin rejuvenation. The radiofrequency facelift may be an appealing option for people in their twenties who are considering anti-aging & maintenance procedures. Hence, the rise in concern over physical appearance, along with innovation in skin care products, would escalate the growth of the radiofrequency-based devices market.
| Report Coverage | Details |
|---|---|
| Study Period | Historical Data: 2017-20 |
| Base Year: 2021 | |
| Forecast Period: 2022-27 | |
| CAGR (2022-2027) | 13.98% |
| Regions Covered | North America: The US, Canada, Mexico |
| South America: Brazil, Rest of South America | |
| Europe: Germany, France, The UK, Italy, Spain, The Netherlands, Switzerland, Rest-of-Europe | |
| Asia-Pacific: Japan, China, India, South Korea, Australia, New Zealand, Singapore, Rest-of-Asia-Pacific | |
| Middle East & Africa | |
| Key Companies Profiled | Abbott Laboratories, AngioDynamics, Inc., Sisram Medical Ltd, AtriCure, Inc., Avanos Medical, Inc., Boston Scientific Corporation, Conmed Corporation, Cutera, Inc., Medtronic, Plc, Merit Medical Systems, Inc., Smith & Nephew, Stryker Corporation, Venus Concept, Inc., Bramsys Indústriae Comércio Ltd, BVM Medical Limited, Diros Technology Inc., and others. |
| Unit Denominations | USD Million/Billion |
Industry Driving Factor: Being one of the primary factors leading to the growth in healthcare costs, the increasing number of patients with chronic pain is a strong driver for the growth of the radiofrequency-based devices market. In recent years, the prevalence of chronic pain has been increasing irrespective of age. As per the National Institute of Health’s National Center for Complementary and Integrative Health (NCCIH), around 50 million American adults suffered from chronic pain in 2016. Hence, this increases the demand for efficient and cost-effective pain management devices & radiofrequency ablation (RFA) devices.
RFA is widely used to treat lower back pain, neck pain, osteoarthritis, rheumatoid arthritis, etc. The prevalence of these medical conditions has been increasing rapidly, contributing to the growth of RFA in the pain management segment. Hence, driving the growth of the Radiofrequency-based Devices market.
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Possible Growth Restraint: Lack of experienced or skilled professionals in the healthcare industry emerges as a challenge, as some technological advancement techniques require trained personnel to operate those machines. Because radiofrequency devices are used in the treatment of chronic diseases such as cancer, the risk to the patient’s health is high. As there will be temporary burns & swelling while using these machines for treatments, hospitals and clinics must administer skilled professionals, and a lack of competent employees affects patient health and treatment costs.
Thus, hospitals and clinics require trained personnel to operate the machines, as well as ongoing training programs for the staff; otherwise, a lack of competent employees may result in health hazards, contributing to a low adoption rate of this technology among end-users.
Report Table of Content
- Market Segmentation
- Introduction
- Product Definition
- Research Process
- Assumptions
- Executive Summary
- Impact of COVID-19 on Global Radiofrequency-Based Devices System Market
- Global Radiofrequency-Based Devices System Market Trends & Insights
- Global Radiofrequency-Based Devices System Market Dynamics
- Growth Drivers
- Challenges
- Global Radiofrequency-Based Devices System Market Policies & Regulations
- Global Radiofrequency-Based Devices System Market Hotspot & Opportunities
- Global Radiofrequency-Based Devices System Market Supply Chain Analysis
- Global Radiofrequency-Based Devices System Market Outlook, 2017-2027
Geographical Dividation: The Radiofrequency-Based Devices System Market is divided across five regions: –
- North America
- South America
- Europe
- The Middle East & Africa
- Asia Pacific
Of all the regions, North America has one of the most technologically advanced healthcare systems globally. The region has a large base of early adopters for radiofrequency-based devices and is the leading region within the global radiofrequency-based devices market. The rising demand for minimally invasive procedures, the growing prevalence of chronic diseases, and the presence of multiple established companies in the region are the primary propellers for the region’s growth. For instance:
- According to the American Cancer Society, Inc., in 2018, approximately 1.9 million new cancer cases and 693,000 cancer deaths were estimated to have occurred in North America.
Competitive Environment as stated by the Research Report On Radiofrequency-Based Devices System Market
Market data for the Radiofrequency-Based Devices System industry focuses on competing companies, analyzing their financials, reach, revenue, and potential in new markets. The analysis also reviews company strengths and weaknesses and aims to highlight areas of dominance in regions and market segments. Each rival undergoes individual examination to understand better how they achieve a competitive edge. The key companies profiled in the research report include: –
- – Abbott Laboratories
- – AngioDynamics, Inc.
- – Sisram Medical Ltd
- – AtriCure, Inc.
- – Avanos Medical, Inc.
- – Boston Scientific Corporation
- – Conmed Corporation
- – Cutera, Inc.
- – Medtronic, Plc
- – Merit Medical Systems, Inc.
- – Smith & Nephew
- – Stryker Corporation
- – Venus Concept, Inc.
- – Bramsys Indústria e Comércio Ltda
- – BVM Medical Limited
- – Diros Technology Inc.
Since the research report comprehends data from historical years (2017-20) and the base year to provide estimations of the forecast period (2022-27) altogether, the market players strategize and proceed with informed perspectives to yield larger profit margins in the coming years.
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Some of the Latest Market Investments and Development By Industry Leaders –
- June 2020: Abbot announced the US launch of Iconic RF Generators, a radio frequency-based device that uses heat to target specific nerves & prevent pain relief signals from reaching the brain.
- 2020: Boston Scientific introduced the DIRECTSENSE Technology, which has mainly provided electrophysiologists with the first-ever visualization & local measurement of the tissue responses to the RFA
Market Segmentation as per the Research Report On Radiofrequency-Based Devices System Market
The industry, taken into consideration, is robust and highly fragmented. Owing to this, our analyst classified the Radiofrequency-Based Devices System Market into first and second level segments, enabling the stakeholders to gain actionable insights over numerous components of the market. Further, the market is broadly divided into the following segments,
Market Division Based On: By Product Type
- RF Generator/System
- Electrodes
- Applicators
- Probes
- Cannulas
- Needles
- Others
Market Division Based On: By Application
- Pain Management
- Aesthetics
- Oncology
- Cardiology
- Others (ENT, Gynaecology, Urology, General Surgery)
Market Division Based On: By End User
- Hospitals
- Ambulatory Surgery Centers (ASCs) and Speciality Clinics
- Others (Rehabilitation Centers, Nursing Homes, and Research and Academic Instituitions)
The segmentation section discusses the prominent components of the market that has either dominated the market in terms of revenue or sales, among others.
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