radiofrequency ablation devices Market

The global radiofrequency ablation devices market was valued at US$ 3,302.55 million in 2019 and is projected to reach US$ 7,711.72 million in 2027; it is expected to grow at a CAGR of 11.5% during 2020–2027.

Emerging application of radiofrequency ablation technology and rising preference for minimally invasive surgical procedures are the driving factors for the growth of the radiofrequency ablation devices market.  However, side effects associated with radiofrequency ablation devices is likely to obstruct the growth of the radiofrequency ablation devices market during the forecast period. 

Minimally invasive treatment procedures are carried out with smaller incisions, less pain, shorter hospital stay, faster recovery, less scarring, and increased accuracy, which is leading to a greater preference for these procedures across the world. Moreover, due to lowered pain and discomfort, patients undergoing minimally invasive surgeries do not require highdoses of painkillers. Minimally invasive procedures have small size of the incision which helps in healing faster than conventional surgeries.Thereby, allowing patients to get back to their normal lives quickly.
Radiofrequency ablation is a minimally invasive procedure that involves the injection of local anesthesia, followed by the insertion of a thin needle through a tiny incision to pass heat and electrical energy. The technology avoids scars and other risks associated with traditional open surgeries. As the procedure is devoid of large cuts, it can be carried on extremely sick or old patients, as they cannot bear the stress associated with open surgeries. These benefits of the minimally invasive surgeries enabled with radiofrequency ablation technique are driving the growth of the market.

The global radiofrequency ablation devices marketis segmented by product, and application. Based on product, the radiofrequency ablation devices market is segmented into devices and disposables. The disposables segment held the largest share of the market in 2019 and is anticipated to register the highest CAGR in the market during the forecast period. Based on application, the radiofrequency ablation devices markethas been segmented into surgical oncology, cardiology, gynecology, cosmetology, and pain management. The surgical oncology segment held the largest share of the market in 2019; however, cardiology segment is estimated to register the highest CAGR in the market during the forecast period.

American Cancer Society, World Health Organization (WHO), Center for Cancer Ablation Therapy, Centers For Disease Control and Prevention, Korea Food and Drug Administration, Organisation for Economic Co-operation and Development, and InstitutoNacional de Cancerologíaare some of the essential secondary sources included in the report.