Global Radiofrequency Ablation Market 2017-2021

Radiofrequency ablation market projections

As per the Technavio’s market research report, the global radiofrequency ablation market is expected to grow at a steady rate and post a CAGR of close to 9% during the forecast period. The growing demand for minimally invasive (MI) procedures will drive the growth prospects for the global radiofrequency ablation market until the end of 2021. The MI technique such as radiofrequency ablation is gaining traction in the market because it reduces the risk of infections, causes minimal complications and pain, and shortens the hospital stay and recovery time.

Also, this technique is highly useful to treat patients with comorbidities and complications and are highly preferred over other traditional procedures and surgeries. Furthermore, with the growing number of training programs conducted by various device manufacturers on the use of radiofrequency ablation devices, the adoption rate of tissue ablation devices in various medical facilities will increase as it helps surgeons to gain experience in using MI devices and performing procedures.

Radiofrequency ablation market share based on regions

In terms of geography, the Americas accounted for the majority market share during 2016 and will continue to dominate the market for the next four years. Factors such as the rising incidence of chronic disorders, the availability of favorable reimbursement programs, and the presence of sophisticated healthcare infrastructure, will positively influence market growth in this region in the coming years.

Radiofrequency ablation market forecast: Competitive landscape and key vendors

The global radiofrequency ablation market is highly competitive, concentrated, and diversified due to the presence of a large number of regional and international vendors on a global level. These vendors are increasingly competing against each other based on factors such as availability, brand, specifications, and price range. Furthermore, several vendors are increasingly focusing on streamlining their research and developmental activities to increase their profitability and minimize the equipment cost.

Key vendors in the radiofrequency ablation market

• AngioDynamics
• Boston Scientific
• Medtronic
• St. Jude Medical
• Stryker

Radiofrequency ablation market size based on product

• Radiofrequency ablation systems
• Radiofrequency ablation catheters
• Radiofrequency ablation consumables and accessories

In 2016, the global radiofrequency ablation consumables and accessories accounted for the majority market share and will continue to dominate the market during the forecasted period. The market segment is witnessing growth due to the rising number of ablation procedures worldwide and the frequent use of broad range of disposables and accessories during radiofrequency ablation procedures in the emerging countries such as Brazil, China, India, and Mexico. Additionally, the demand for various consumables and accessories for radiofrequency cardiac ablation procedures will further increase due to the growing preference for MI techniques.

Radiofrequency ablation market segmentation by end-user 

• Physicians' offices
• Hospitals
• ASCs

The global radiofrequency ablation market by hospitals segment accounted for the majority market share during 2016 and will continue to dominate the market during the forecasted period. Since these hospitals procure medical products and consumables on bulk, offer a large number of inpatient and outpatient services, and engage closely with many suppliers, the preference for hospitals is increasing over other healthcare units.

Key questions answered in the report include

• What will the market size and the growth rate be in 2021?
• What are the key factors driving the global radiofrequency ablation market?
• What are the key market trends impacting the growth of the global radiofrequency ablation market?
• What are the challenges to market growth?
• Who are the key vendors in the global radiofrequency ablation market?
• What are the market opportunities and threats faced by the vendors in the global radiofrequency ablation market?
• What are the trending factors influencing the market shares of the Americas, APAC, and EMEA?
• What are the key outcomes of the five forces analysis of the global radiofrequency ablation market?

Technavio also offers customization on reports based on specific client requirement.