Transparency Market Research
(TMR) has published a new report titled, ‘Radiofrequency Ablation Devices for
Pain Management Market - Global Industry Analysis, Size, Share, Growth, Trends,
and Forecast, 2019–2027’. According to the report, the global radiofrequency ablation devices for pain
management market was valued at US$ 543.0 Mn in 2018 and is projected
to expand at a CAGR of above 11.0% from 2019 to 2027.
Overview
·
Radiofrequency ablation is a minimally invasive
surgical procedure that involves a local anesthetic and mild sedation. This
procedure is primarily used to reduce chronic low-back and neck pain.
·
The procedure involves heating a small area of
nervous tissue under controlled temperature and as a result help in blockage of
pain signals transmitting from that area.
·
North America dominated the global
radiofrequency ablation devices for pain management market in 2018 and the
trend is anticipated to continue during the forecast period. Rise in awareness
regarding the treatment benefits, high incidence rate of chronic pain among the
population in the U.S. are expected to drive the market in North America.
·
However, Asia Pacific is likely to be a highly
lucrative market for radiofrequency ablation devices for pain management and it
is expected to expand at a high CAGR during the forecast period
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Growing adoption of RF ablation for pain management among end-users to
Drive Market
·
Pain leads to severe complications, if proper
care or treatment is not taken for a long time. High adverse effects and lower
efficiency of alternate pain relief procedures and therapeutics such as
opioids, acupuncture, and acupressure has led to surge in adoption of
radiofrequency ablation devices, which offer better treatment with minimal side
effects.
·
Hence, high availability, easy access, increased
awareness, cost-effectiveness, and quick relief provide RF ablation devices for
pain management a cutting edge over other treatment options. This is likely to
augment the demand for the use of radiofrequency ablation device for pain
management in the market.
Disposable Products Segment to Dominate Market
·
Based on product type, the global radiofrequency
ablation devices for pain management market is classified into RF generators,
reusable products and disposable products. The reusable product further
segmented into probes and electrodes and disposable products classified as
cannulas, needles and single-use probes and electrodes.
·
Disposable cannulas and probes offers reduction
in sterilization costs. Additionally, the connector cables provided for single
use probes are long enough to stay out of the sterile field, thus preventing
infection. Moreover, it allows temperature-controlled lesion generation
procedure. This boosts demand for the disposable products.
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Hospital to be Highly Lucrative Segment
·
In terms of end-user, the global radiofrequency
ablation devices for pain management market has been segmented into hospitals,
ambulatory surgical centers and specialty clinics.
·
The hospitals segment is expected to hold the
major market share in 2018. The hospitals end-user segment is driven by
increasing occurrences of chronic pain disorders especially among elderly
individuals.
·
Moreover, rise in the number of patients suffering
from different types of pain getting admitted to hospitals, favorable
reimbursement policies, and availability of technologically advanced products
in hospitals is likely to drive the segment.
North America to Dominate Global Market
·
In terms of region, the global radiofrequency
ablation devices for pain management market has been segmented into North
America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
North America dominated the global radiofrequency ablation devices for pain
management market in 2018, followed by Europe.
·
North America accounted for major share of the
global radiofrequency ablation devices for pain management market in 2018,
attributed by rise in geriatric population with chronic pain, pharmacology
medication resistance and rise in awareness about the advantages of
radiofrequency ablation therapy for pain management. Moreover, launch of new
devices that address the unmet medical needs drive the market.
·
Key players are investing to expand their reach
and strengthen their market position in North America market through new
product development and approavls, in 2019, Medtronic launched its product
Accurian RF system in the U.S.
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Competitive Landscape
The global radiofrequency
ablation devices for pain management market is fragmented in terms of number of
players. Key players in the global market include Boston Scientific
Corporation, Diros Technology, Inc., Halyard Health, Inc., Abbott, Stryker
Corporation, Olympus Corporation, Merit Medical Systems, Medtronic plc, and
AngioDynamic, Inc. among others among others
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