An increasing number of patients are opting for minimally invasive procedures, as they result in less scarring and pain and decrease the chances of infections related to open surgeries. For example, back pain can be treated by radiofrequency (RF) ablation procedures, which are minimally invasive, thus pose a lower risk of any complication after and during the treatment process. RF ablation devices destroy the nerve fibers in the spine to stop the pain signals from reaching the brain. Moreover, the increasing awareness and low cost of RF ablation treatment for pain relief will fuel the demand for these devices.
The application of these devices is surging among elderly patients, as they are more susceptible to health disorders and abnormalities. Apart from long-lasting pain, old people require minimally invasive treatments for several chronic diseases, such as cardiovascular diseases (CVDs) and cancer. According to the 2019 UN World Population Ageing report, the global population of people in the age group of 65 and above will be 1.5 billion in 2050. Owing to this reason, the revenue of the radiofrequency ablation devices market will increase from $3,173.5 million in 2019 to $11,080.3 million by 2030, at a CAGR of 12.6% during 2020–2030.
Due to the growing shift toward minimally invasive surgeries (MIS) from open surgeries, hospitals are deploying RF ablation products in large numbers, as they are the first point of contact for the diagnosis and treatment of diseases. Catheter systems are the most widely used RF ablation equipment in these healthcare settings to treat chronic diseases. The system includes electrodes and probes that are thrust into the affected body parts for ablation procedures. In addition to this, hospitals and ambulatory surgical centers (ASCs) also use generators and accessories for ablating or destroying the dysfunctional tissue inside the body.
Moreover, North America is expected to adopt the highest number of RF ablation devices in the future, as it has a large end-user base due to the rising cases of cancer and heart diseases. Moreover, the surging healthcare expenditure, favorable reimbursement ecosystem, and easy availability of RF ablation procedures will augment the use of these products in the region. To cater to this swelling demand, companies including Abbott Laboratories, Stryker Corporation, Baylis Medical Company Inc., RF Medical Co. Ltd., Boston Scientific Corporation, Johnson & Johnson, and AngioDynamics Inc. are launching new products and entering into mergers and acquisitions.
Thus, the shift toward MISs and high demand for pain relief procedures will boost the adoption of RF ablation devices in healthcare settings.
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