Radiofrequency Ablation Devices Market by Product and Geography - Forecast and Analysis 2022-2026

The radiofrequency ablation devices market share is expected to rise to USD 4.61 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 12.52%.

This radiofrequency ablation devices market research extensively covers radiofrequency ablation devices market segmentation by product (RF ablation consumables, RF ablation systems, and RF ablation catheters) and geography (North America, Europe, Asia, and Rest of World (ROW)).

What will the Radiofrequency Ablation Devices Market Size be During the Forecast Period?

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The radiofrequency ablation devices market report also offers information on several market vendors, including Abbott Laboratories, AngioDynamics Inc., Arthrex Inc., AtriCure Inc., Avanos Medical Inc., BIOTRONIK SE and Co KG, Bramsys Industria e Comercio Ltda., Conmed Corp., Epimed International Inc., F Care Systems NV, Hologic Inc., Johnson and Johnson, Koninklijke Philips NV, Medtronic Plc, Merit Medical Systems Inc., OSYPKA AG, RF Medical Co. Ltd., Smith and Nephew plc, Stryker Corp., and Venclose Inc. among others.

Radiofrequency Ablation Devices Market: Key Drivers, Trends, and Challenges

The increasing prevalence of chronic diseases and the growth of the geriatric population is notably driving the radiofrequency ablation devices market growth, although factors such as product recalls may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the radiofrequency ablation devices industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Radiofrequency Ablation Devices Market Driver

One of the key factors driving the global radiofrequency ablation devices market growth is the increasing prevalence of chronic diseases and the growth of the geriatric population. For instance, In in 2021, around 15% percent of adults in the US reported having at least two chronic medical conditions, while only around 11% percent of older millennials reported the same. According to the CDC, it is estimated that 12.1 million people in the US will have AF in 2030. In addition, according to the CDC, approximately 11% of the adult population of the US experience daily pain. To treat these chronic diseases, RF ablation devices are used. Hence, the increasing prevalence of chronic diseases and the growth of the geriatric population will drive the growth of the global RF ablation devices market during the forecast period.

Key Radiofrequency Ablation Devices Market Challenge

One of the key challenges to the global radiofrequency ablation devices market growth is product recalls. In all regions, most technical challenges related to the development of new products are evident during clinical trials. After obtaining approval, if a device has issues such as system malfunction or causes adverse effects, regulatory organizations can recall them. Such product recalls can affect the growth of the market. For instance, the Covidien Emprint Long Percutaneous Antenna with Thermosphere Technology, a Medtronic tumor ablation device, was recalled in November 2018 due to the disengagement of the Emprint ablation's ceramic trocar tip from the needle shaft after ablation. Similarly, Medtronic Sofamor Danek USA Inc. recalled Accurian RF Ablation in June 2018 due to insertion difficulties. Such factors may limit the market growth in the coign years.

Key Radiofrequency Ablation Devices Market Trend

Increasing M and A activity is one of the key radiofrequency ablation devices market trends that is expected to impact the industry positively in the forecast period. For instance, in January 2022, Medtronic makes made a USD 925 million offer for Affera, aiming to break into the advanced cardiac mapping market. Affera makes catheters that build detailed maps of the heart to help doctors direct pulsed-field and radiofrequency ablation to the correct location. In October 2021, Boston Scientific has agreed to acquire Baylis Medical Company for an upfront payment of USD 1.75 billion. The deal is expected to close in the first quarter of 2022. Such initiatives will change the market dynamics and consolidate the position of the acquiring companies, which may support market growth in the coming years.

This radiofrequency ablation devices market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Who are the Major Radiofrequency Ablation Devices Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

 

• Abbott Laboratories
• AngioDynamics Inc.
• Arthrex Inc.
• AtriCure Inc.
• Avanos Medical Inc.
• BIOTRONIK SE and Co KG
• Bramsys Industria e Comercio Ltda.
• Conmed Corp.
• Epimed International Inc.
• F Care Systems NV
• Hologic Inc.
• Johnson and Johnson
• Koninklijke Philips NV
• Medtronic Plc
• Merit Medical Systems Inc.
• OSYPKA AG
• RF Medical Co. Ltd.
• Smith and Nephew plc
• Stryker Corp.
• Venclose Inc.

 

This statistical study of the radiofrequency ablation devices market encompasses successful business strategies deployed by the key vendors. The radiofrequency ablation devices market is fragmented and the vendors are deploying growth strategies such as an increase in M&A activities to compete in the market.

Product Insights and News

• Abbott Laboratories - The company offers a radiofrequency ablation device named Simplicity Probe, a self-contained, multi-electrode radiofrequency, patented SI denervation solution, it features three independent active areas to generally reduce procedure time. 
• Abbott Laboratories - In December 2021, the company appointed Robert B. Ford as Chairman of the Board. 

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The radiofrequency ablation devices market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Which are the Key Regions for Radiofrequency Ablation Devices Market?

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39% of the market's growth will originate from North America during the forecast period. US and Canada are the key markets for radiofrequency ablation devices in North America. Market growth in this region will be faster than the growth of the market in Rest of World (ROW).

The significant increase in the prevalence of chronic diseases such as cancer and CVDs and the rise in preference for MI procedures will facilitate the radiofrequency ablation devices market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

The COVID-19 pandemic in 2020 certainly had a tremendous negative impact on the RF ablation devices market in North America which resulted in the temporary closure of various industries, including those manufacturing RF ablation devices. The governments of various countries, such as the US, Canada, and Mexico, imposed stringent COVID-19-related restrictions, such as nationwide lockdowns and stay-at-home regulations. However, in 2021, the demand for these products rebounded, as manufacturing activities were reopened due to COVID-19 vaccination drives. These factors will drive the growth of the regional RF ablation devices market during the forecast period.

What are the Revenue-generating Product Segments in the Radiofrequency Ablation Devices Market?

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The radiofrequency ablation devices market share growth by the RF ablation consumables segment will be significant during the forecast period. The growth is attributed to the high demand for consumables, which are disposable, to perform RF ablation procedures. Cannulas, needles, single-use probes, single-use electrodes, and RF probes are commonly used in RF ablation procedures. 

This report provides an accurate prediction of the contribution of all the segments to the growth of the radiofrequency ablation devices market size and actionable market insights on the post-COVID-19 impact on each segment.

Radiofrequency Ablation Devices Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the radiofrequency ablation devices market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

Parent Market Analysis

Technavio categorizes the global radiofrequency (RF)ablation devices market as a part of the global healthcare equipment market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the radiofrequency ablation devices market during the forecast period.

Radiofrequency Ablation Devices Market Scope
Report Coverage	Details
Page number	120
Base year	2021
Forecast period	2022-2026
Growth momentum & CAGR	Accelerate at a CAGR of 12.52%
Market growth 2022-2026	$ 4.61 billion
Market structure	Fragmented
YoY growth (%)	8.8
Regional analysis	North America, Europe, Asia, and Rest of World (ROW)
Performing market contribution	North America at 39%
Key consumer countries	US, Canada, Denmark, China, and India
Competitive landscape	Leading companies, Competitive strategies, Consumer engagement scope
Key companies profiled	Abbott Laboratories, AngioDynamics Inc., Arthrex Inc., AtriCure Inc., Avanos Medical Inc., BIOTRONIK SE and Co KG, Bramsys Industria e Comercio Ltda., Conmed Corp., Epimed International Inc., F Care Systems NV, Hologic Inc., Johnson and Johnson, Koninklijke Philips NV, Medtronic Plc, Merit Medical Systems Inc., OSYPKA AG, RF Medical Co. Ltd., Smith and Nephew plc, Stryker Corp., and Venclose Inc.
Market dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period.
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Radiofrequency Ablation Devices Market Report?

• CAGR of the market during the forecast period 2022-2026
• Detailed information on factors that will drive radiofrequency ablation devices market growth during the next five years
• Precise estimation of the radiofrequency ablation devices market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the radiofrequency ablation devices industry across North America, Europe, Asia, and Rest of World (ROW)
• A thorough analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of radiofrequency ablation devices market vendors

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