The radiofrequency ablation devices market size in 2021 stood at US$ 3.93 billion and is projected to reach US$ 12.08 billion by 2031 from US$ XX billion in 2023. The market is expected to register a CAGR of 12.2% in 2023–2031. Integration of cutting-edge technology in ablation devices is likely to remain a key radiofrequency ablation device market trend.
Radiofrequency devices are widely used in cancer treatment, cardiology, gynecology, cosmetology, and pain management. There has been an increase in the demand for radiofrequency due to the growing prevalence of cardiovascular disorders, particularly atrial fibrillation, and increasing preference for minimally invasive procedures. Radiofrequency devices have a high success rate for the treatment of artial fibrillation which has enhanced product adoption and favored the market growth.
Radiofrequency ablation is an interventional method that has been used in a variety of medical sectors, including the treatment of cardiac arrhythmias and the removal of tumors in various sites. Manufacturers are creating ablation devices capable of destroying specific or diseased tissues using technologies such as radio frequency, robotic-assisted operations, electrical, ultrasound, and laser. Ablation devices have become a popular and effective treatment for chronic bronchitis, cancer, irregular heartbeats, and nerve discomfort.
In recent years, the technique is also used for treating patients suffering from adrenal gland, liver, breast, bone, pancreatic, kidney, lung, and thyroid cancer, although it is not a primary treatment for cancer. In addition to oncology, radiofrequency ablation technology is also being used to treat patients with cardiac conditions, when medicines or other treatments fail to cure these conditions.
The players in the radiofrequency ablation devices market are coming up with multiple and advanced products for radiofrequency ablation procedures. For instance, in March 2024, NeuroOne Medical Technologies has initiated a limited commercial launch of its OneRF ablation system, which has US Food and Drug Administration (FDA) 510(k) clearance for creation of radiofrequency (RF) lesions in nervous tissue for the functional neurosurgical procedures.
Key segments that contributed to the derivation of the radiofrequency ablation devices market analysis are product and application.
The geographic scope of the radiofrequency ablation devices Market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.
North America has dominated the radiofrequency ablation devices market. Increasing cases of chronic diseases like cardiovascular diseases, and cancer, increasing competition between the market players, and high R&D spending are some of the major factors driving the market growth in North America.
The regional trends and factors influencing the Radiofrequency Ablation Devices Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Radiofrequency Ablation Devices Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 3.93 Billion |
| Market Size by 2031 | US$ 12.08 Billion |
| Global CAGR (2023 - 2031) | 12.2% |
| Historical Data | 2021-2022 |
| Forecast period | 2023-2031 |
| Segments Covered |
By Product
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The Radiofrequency Ablation Devices Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Radiofrequency Ablation Devices Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
The radiofrequency ablation devices market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market for radiofrequency ablation devices market:
The “Radiofrequency Ablation Devices Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas: