US Radiofrequency Ablation Devices Market to Hit Valuation of USD 3,312.40 Million by 2032: Astute Analytica
The global RFA device market is experiencing robust growth fuelled by an aging population, demand for minimally invasive treatments, and technological advancements. Key applications include cancer, arrhythmias, and pain management. While cost and complexity pose challenges, the market's trajectory remains positive, driven by strategic initiatives like mergers, acquisitions, and ongoing innovation in hybrid technologies.
New Delhi, March 20, 2024 (GLOBE NEWSWIRE) -- According to the latest research by Astute Analytica, the US radiofrequency ablation devices market is projected to grow to US$ 3,312.40 million by 2032, up from US$ 1,296.97 million in 2023, at a CAGR of 11.24% during the forecast period 2024–2032.
RFA is a procedure that’s done through small incisions rather than through a large, open operation. It can be used to treat diseases like cancer, cardiac diseases and to help manage pain. The growing use of technology is driven by its effectiveness, ease of use and patient safety. In the US, market growth is expected in response to increasing prevalence of target diseases and rising adoption of minimally invasive procedures. Expanding the number of things RFA can be used for will also contribute to market growth. For example, Medtronic offers advanced RFA systems with “clinical efficacy” and procedural efficiency in mind. Boston Scientific’s RF3000 system uses impedance to monitor treatment progress.
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Growing elderly populations are becoming more prone to chronic conditions such as diabetes and cardiovascular issues, which — luckily for them — have been shown to respond well to treatment with radiofrequency ablation (RFA) devices. To their benefit too is both patients’ and doctors’ preference for minimally invasive procedures across various illnesses including cancer, chronic pain and heart disease. This coincides with an increase in prevalence of conditions like atrial fibrillation so useful RFA treatments are only going to become more popular in the radiofrequency ablation devices market.
While this might seem like clear sailing ahead given all these factors at play, there are some roadblocks the market must address first: access cost; complexity; training; infrastructure investment etc. Despite those setbacks however this industry does have high expectations for 2024-to-2032 performance especially given disposable products’ potential in surgical oncology applications.
*Key Findings in US Radiofrequency Ablation Devices Market *
Market Forecast (2032) US$ 3,312.40 million
CAGR 11.24%
By Device Type Capital Devices (44.0%)
By Application Surgical Oncology (44.3%)
By End Users Hospitals (46.9%)
Top Trends · Development of hybrid RFA technologies combining ablation with drug delivery or other therapies for enhanced efficacy.
· Emergence of smaller, portable RFA systems for outpatient and in-office settings.
· Adoption of artificial intelligence (AI) for image-guided RFA procedures and treatment outcome prediction.
Top Drivers · Rising incidence of cancer and cardiac arrhythmias, where RFA offers effective treatment options.
· Growing awareness of RFA benefits among patients and referring physicians.
· Strategic focus of major medical device companies on developing and acquiring innovative RFA technologies.
Top Challenges · Risk of complications associated with RFA, especially in complex anatomical locations.
· Potential for incomplete tumor ablation in certain cases, necessitating retreatment.
· The ongoing need to balance innovation with cost-effectiveness in RFA device development.
*Patent Analysis and Trends in US Radiofrequency Ablation Devices Market*The University of Wisconsin-Madison’s Department of Radiology has been granted several patents for RFA devices in the US radiofrequency ablation devices market. These include a center-fed dipole for ablation systems, a multi-electrode system and a system for ground pad conductors. The patents, issued between 2007 and 2014, offer evidence of ongoing RFA innovation in minimally invasive cancer treatment. Total patent applications across the medical industry fell quarter on quarter by 16% to 34,383 in Q4 2023 from 37,721 the previous quarter, and by 8% compared with the same period the prior year. However, there was still plenty of activity within General Surgery Devices – which includes RFA – as there were some roughly 4603 patents filed during Q3 last year. The US accounted for nearly a quarter (24.94%) of all global medical industry patent filings.
Johnson & Johnson, Medtronic and Olympus are among major companies in the radiofrequency ablation devices market that have staked outsized claims on intellectual property in RFA technology. Research firm Patent Forecast noted that over the past three years more than 710,000 patents covering medical devices had been filed and granted; highlighting an “innovation gold rush” surrounding radiofrequency tissue ablation. Apart from this, AngioDynamics has obtained numerous patents related to various medical devices including RFA technology. In November it secured one covering its SmartPort+ power injection port and another for its BioFlo Endexo peripheral catheters. In December it won a patent for its VenaCure RF Ablation System.
In an interesting move that isn't directly related to RFA device patents or other IP issues in this article but is nonetheless notable, RFA MEDICAL changed its name to Intelligent Bio Solutions Inc., signalling a shift into non-invasive real-time diagnostic technologies such as drug screening.
*Capital Devices Poised to Dominate US Radiofrequency Ablation Devices Market, Capturing an Impressive Revenue Share of over 44%*
The capital equipment market is projected to dominate the RF generators, and these are at the forefront. These are vital in RFA systems, which produce and control the radiofrequency energy needed for ablation procedures. On that note, RFA devices have a wide range of applications including oncology, cardiology, pain management, gynecology, urology and cosmetology. Of those though surgical-oncology shines brightest with its predicted big share next year due to an increased demand for RFA in cancer treatment. As we've stated before an increase in conditions like atrial fibrillation and other arrhythmias directly results in increased need for RFA devices too.
The US Market is expected to exceed 44% when it comes to revenue share when it comes to capital devices. This is likely due to its role in producing and controlling energy used for ablation procedures as mentioned before. However expensive these devices may be there seems to be no stopping their growth as companies in the sector work towards maintaining momentum by focusing on product launches, mergers, acquisitions and partnerships.
*Surgical Oncology to Remain the Largest Application, Contribute More than 44% Revenue to US Radiofrequency Ablation Devices Market *
There are a number of reasons why the radiofrequency ablation market is projected to grow in the coming years. As the geriatric population continues to increase, older people will require more medical interventions for chronic conditions. In addition, the American Cancer Society has estimated that there will be about 1.96 million new cancer cases diagnosed in the United States in 2023. The most common types of cancer in the U.S. are breast, lung, prostate and colorectal cancers. Lung cancer, including non-small cell lung cancer (NSCLC), is one that is particularly on the rise in the US radiofrequency ablation devices market.
With these numbers comes an increased demand for RFA devices: a less invasive way to treat both benign and malignant tumors compared with traditional surgical removal methods. It works by heating or cooling targeted areas of tissue and can be used repeatedly if new cancers emerge. The versatility of this method makes it more than useful for small cancers, as well as larger ones up to 5 cm. Over recent years other developments include devices that heat only cancerous tissue while sparing healthy tissue and major companies such as Boston Scientific and Medtronic introducing new products into their lines.
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*Hospitals are the Key Consumers, Control More than 46% Market Revenue *
In the U.S. surgical oncology, plenty of consumers drive the demand for RFA equipment. To put it all in perspective, there are 649 specialty hospitals within the country as of recently. This is just a fraction of the 7,335 active hospitals tracked by Definitive Healthcare at January’s start this year. Specialty hospitals in the US radiofrequency ablation devices market make up a significant portion of these numbers, with more than half a million employees and over $115 billion in revenue year after year. Furthermore, National Cancer Institute (NCI) has labeled 72 cancer centers across America — all situated within 36 states and D.C. Other than NCI-Designated Cancer Centers, there are many other cancer treatment facilities known for their excellence and commitment to patients’ health. One publication evaluates about 913 cancer hospitals with different statuses. For instance, 71 out of those got top honors for their cancer care services. The University of Texas MD Anderson Cancer Center, the Memorial Sloan Kettering Cancer Center and Mayo Clinic are among some household names on this list.
Hospitals that have comprehensive cancer centers employ RFA technology heavily to treat tumors. Ambulatory Surgery Centers (ASCs) are also starting to play a larger role in offering patients an alternative place to receive RFA procedures compared to normal hospital settings. There’s no shortage of specialist physicians who use this equipment day in and day out either — especially surgeons, interventional radiologists and oncologists who specialize in particular types of cancer strategically use RFA during treatments in the US radiofrequency ablation devices market.
*US Radiofrequency Ablation Devices Market Key Players*
· AngioDynamics
· Arthrex
· AtriCure
· Baylis Medical
· Boston Scientific Corporation
· Bramsys Indústria e ComércioLtda
· C. R. Bard
· Cosman Medical, Inc.
· ENDO-FLEX GmbH
· Epimed International
· Halyard Health
· Hologic
· Inomed Medizintechnik GmbH
· Johnson & Johnson
· Medtronic
· SFM Medical Devices GmbH
· Smith & Nephew
· St. Jude Medical
· Stryker
· Sutter Medizintechnik GmbH
· Other Prominent Players
*Key Segmentation:*
*By Device Type*
· Capital Device
· RF Energy Generators
· Circumferential Ablation Catheters
· RFA Balloon Catheter
· RFA Focal Catheters
· RFA Endoscopic Catheters
· Irrigated Tip RFA Catheters
· Electrode Catheters
· Conventional RFA Catheters
· Others
· Disposable Equipment
· Cannulas
· RFA Needles
· Reusables
· Probes
· Electrodes
*By Application*
· Surgical Oncology
· Adrenal Gland Cancer
· Breast Cancer
· Bone Cancer
· Kidney Cancer
· Liver Cancer
· Lung Cancer
· Pancreas Cancer
· Thyroid Cancer
· Others
· Cardiology & Cardiac Rhythm Management
· Atrial Fibrillation
· Cardiac Arrhythmia
· Others
· Cosmetology
· Gynaecology
· Uterine Fibroids
· Others
· Pain Management
· Neck Pain
· Shoulder Pain
· Upper & Lower Back Pain
· Knee Pain
· Facial Pain
· Others
*By End User*
· Hospitals
· Ambulatory Surgical Centers
· Others
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CONTACT: Vipin Singh
BSI Business Park, H-15,Sector-63, Noida- 201301- India
Phone: +1-888 429 6757 (US Toll Free); +91-0120- 4483891 (Rest of the World)
Email: sales@astuteanalytica.com
Website: https://www.astuteanalytica.com/