Radiofrequency Ablation Device Market - Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2018-2026

  • To Be Published : Jul 2019 |
  • Format : CMI Insight PPT Format CMI Insight PDF Format

Radiofrequency ablation device is an electrical conduction system that utilizes high frequency alternating current to convert electromagnetic energy into heat energy. Radiofrequency ablation is a minimally invasive technique to treat medical conditions like cancer tumors with imaging techniques including magnetic resonance imaging, ultrasound and computed tomography. Radiofrequency ablation devices use non-surgical procedures to destroy carcinogenic cells by removing the obstructive tissues and nerves. The technique involves insertion of needle through the skin onto the tumor to target the abnormal tissues with radio-frequency electrical energy causing the tumor to heat through an active electrode tip. Radiofrequency ablation technology has wide applications in medical fields such as oncology, cerebral tumors, gynecology, cardiac rhythm and renal denervation for hypertension, pain management, and cosmetology.

Rising Prevalence of Chronic Pain to have sizeable positive impact on market growth

According to The American Academy of Pain Medicine, in 2012, 1.5 billion people were estimated to suffer from chronic pain globally, with the incidence rate increasing complementary to age.  Rising incidence of cancerous tumors, arrhythmia, tachycardia and chronic pain in the global population ensures the global radiofrequency ablation device market to grow steadily. The presence of high procedure volumes ensuring non-surgical procedures and fast recovery of the patients is a key factor attributing to the rising demand of radiofrequency ablation. The radiofrequency ablation market is driven by its feature of specificity that targets only the particular sites within the tissue, causing negligible damage to the surrounding tissues. Additionally, increasing usage in ambulatory surgical centers owing to lesser number of complications post-surgery is expected to boost the growth of global radiofrequency ablation devices in the forecast period.

The disposables equipment segment accounts for a larger share in radiofrequency ablation device market

The global radiofrequency ablation device market is segmented on the basis of product type, application, end user and geography.

On the basis of product type:

  • Disposable Equipment
  • Cannula
  • Needles
  • Capital Equipment
  • Radiofrequency Generators
  • Reusable Equipment
  • Probes
  • Electrodes

On the basis of applications:

  • Surgical Oncology
  • Gynecology
  • Cosmetology
  • Cardiology & Cardiac Rhythm Management
  • Hypertension
  • Others

On the basis of end user:

  • Hospitals
  • Specialty Clinics
  • Ambulatory Surgical Centers

Increasing number of atrial fibrillation cases is expected to dominate North America in radiofrequency ablation device market

Regional segmentation of the radiofrequency ablation device market by Coherent Market Insights comprises North America, Europe, Asia-Pacific, Latin America and Middle East and Africa. According to Centers for Disease Control & Prevention, an estimated 2.7-6.1 million people in the U.S., suffer from atrial fibrillation for which more than 750,000 hospitalizations occur each year, thus increasing the demand of radiofrequency ablation devices. The presence of high patient awareness, knowledge pertaining to ablation treatments, sophisticated reimbursement framework and usage of advanced technologies are the factors due to which North America is dominating in the global radiofrequency ablation device market. The market in Asia Pacific is expected to rise over the forecast period owing to the government initiatives to ensure improved healthcare access, availability of large number of patients with unmet medical needs and increased spending capacity of patients.

The emergence of innovative portfolios to address multiple applications targeting single medical condition fuels the demand by some manufacturers

Key players of the radiofrequency ablation device market include Boston Scientific, St Jude Medical, Medtronic, Covidien and Stryker. Other prominent vendors include Imricor Medical Systems, AtriCure, BIOTRONIK, MicroPort Scientific and Spacelabs Healthcare. The strategies adopted by the manufacturers include addressing multiple applications like tumor ablation with pain management for treating single medical condition. For instance, St Jude Medical's portfolio addresses arrhythmia through devices such as denervation system and neuromodulation for chronic pain.

Research Methodology

Coherent Market Insights followsa comprehensive research methodology focused on providing the most precise market analysis. The company leverages a data triangulation model which helps company to gauge the market dynamics and provide accurate estimates. Key components of the research methodologies followed for all our market reports include:

  • Primary Research (Trade Surveys and Experts Interviews)
  • Desk Research
  • Proprietor Data Analytics Model

In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.

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Coherent Market Insights desk research is based on a principle set of research techniques:

  • National level desk research: It Includes research analysis of regional players, regional regulatory bodies, regional trade associations, and regional organization.
  • Multinational level desk research: The research team keeps a track of multinational players, global regulatory bodies, global trade associations, and global organization.

Coherent Market Insights has a large amount of in-house repository of industry database. This is leveraged as a burner for initiating a new research study. Key secondary sources include:

  • Governmental bodies, National and international social welfare institutions, and organizations creating economic policies among others.
  • Trade association, National and international media and trade press.
  • Company Annual reports, SEC filings, Corporate Presentations, press release, news, and specification sheet of manufacturers, system integrators, brick and mortar - distributors and retailers, and third party online commerce players.
  • Scientific journals, and other technical magazines and whitepapers.
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Preliminary Data Mining

The raw data is obtained through the secondary findings, in house repositories, and trade surveys. It is then filtered to ensure that the relevant information including industry dynamics, trends, and outlook is retained for further research process.

Data Standardization:

Holistic approach is used to ensure that the granular and uncommon parameters are taken into consideration to ensure accurate results. The information from the paid databases are further combined to the raw data in order to standardize it.

Coherent Statistical model

We arrive at our final research findings through simulation models. Coherent Data Analytics Model is a statistical tool that helps company to forecast market estimates. Few of the parameters considered as a part of the statistical model include:

  • Micro-economic indicators
  • Macro-economic indicators
  • Environmental indicators
  • Socio-political indicators
  • Technology indicators

Data Processing

Once the findings are derived from the statistical model, large volume of data is process to confirm accurate research results. Data analytics and processing tools are adopted to process large chunk of collected informative data. In case, a client customizes the study during the process, the research finding till then are benchmarked, and the process for new research requirement is initiated again.

Data Validation

This is the most crucial stage of the research process. Primary Interviews are conducted to validate the data and analysis. This helps in achieving the following purposes:

  • It provides first-hand information on the market dynamics, outlook, and growth parameters.
  • Industry experts validates the estimates which helps the company to cement the on-going research study.
  • Primary research includes online surveys, face-to face interviews, and telephonic interviews.

The primary research is conducted with the ecosystem players including, but not limited to:

  • Raw Material Suppliers
  • Manufacturers
  • System Integrators
  • Distributors
  • End-users

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