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Europe Radiofrequency Ablation Devices Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Product Application, and Geography

Europe Radiofrequency Ablation Devices Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Product Application, and Geography

  • May 2020
  • 106 pages
  • ID: 5894547
  • Format: PDF
  • The Insight Partners
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Europe Radiofrequency Ablation Devices Market Forecast to 2027 - Covid-19 Impact and Regional Analysis by Product and Application
The European radiofrequency ablation devices market is anticipated to reach US$ 2,335.88 Mn by 2027 from US$ 1,021.48 Mn in 2019. The market is projected to grow at a CAGR of 11.2% from 2020 to 2027. The growth of the market in North America is driven by factors such as the increasing incidence of chronic illness and growing preference for minimally invasive procedures in the region. However, side-effects associated with radiofrequency ablation as well as high cost of the treatment and issues faced during reimbursement of treatment cost restrain the market growth to a certain extent. Additionally, advancements in research and development activities with growing healthcare expenditures and the continuous radiofrequency ablation product launches and approvals are likely to drive the growth of the radiofrequency ablation devices market during the forecast period.
The radiofrequency ablation devices transmit the energy of radiofrequency waves and destroy the target tissue.This technology has been widely in use to treat solid tumors, arrhythmias, uterine fibroids, and other medical conditions.

The increasing prevalence of chronic pain conditions such as arthritis and combined with osteoporosis may drive market development.Chronic pain is long-lasting and is resilient to most medical treatments; it might lead to severe physiological and mental problems, which affect the quality of life.

According to the National Health Service (NHS), over 4 million UK adults with age ?40 are anticipated to have doctor-diagnosed rheumatoid arthritis, while 9 million have been diagnosed with osteoarthritis. Moreover, as per the CDC, Atrial Fibrillation (AF) is projected to affect 17.9 million Europeans by 2060. Further, the growing geriatric population, coupled with rising life expectancy, is expected to boost the healthcare sector growth in the region during the forecast period. Geriatric people are more prone to chronic diseases, driving the demand for highly effective treatments, such as RF ablation. The population with age ?65 in the WHO European region is projected to rise to 224 million by 2050. The demographics tend to have maximum need for adequate care and treatment due to highest disability rate, which is anticipated to propel the growth of the market for new therapeutic technologies such as radiofrequency ablation. Pain leads to severe complications if proper care or treatment is not taken for a long time. Highly adverse effects and lower efficiency of alternate pain relief procedures and therapeutics such as opioids, acupuncture, and acupressure have led to the surge in the adoption of radiofrequency ablation devices. Hence, high availability, easy access, increased awareness, cost-effectiveness, and quick relief provide RF ablation devices a cutting edge over other treatment options for pain management.
Radiofrequency ablation is an effective treatment for chronic pain management and small cancers, and the procedure can be repeated in case of reoccurrence of cancer.Rising chronic pain disorders such as arthritis and osteoporosis, coupled with improving healthcare infrastructure, would propel the market growth in the coming years.

The high success rate of radiofrequency ablation in cancer treatment and advantages offered(such as generation of larger ablation zones and less impact of the heat sink effect) are the major factors contributing to the growth of this market. The radiofrequncy ablation technology has gained a lot of attention in applications such as pain management and dermatology, and it is also widely being used in gynecology to treat uterine fibroids.
In 2019, the disposables segment accounted for a larger share of the radiofrequency ablation devices market, by product, in Europe.Disposables are used in every radiofrequency ablation surgery.

These disposables help in transmitting the electric current to the target tissue and hence are a crucial component of the radiofrequency ablation procedure. Moreover, the market players are developing innovative products to reduce errors and carry out the procedure efficiently.
The surgical oncology segment held the largest share of the market based on application in 2019. However, the cardiology segment is estimated to register the highest CAGR of 11.9 % in the market during the forecast period. The RFA technology has been widely used in the surgical oncology. It has been widely in use in the surgical oncology; the procedure involves using heat and electrical current to destroy cancer cells. The technology is also used to treat Barrett’s esophagus, which is the precancerous condition of the esophagus. Thus, wide application of RFA in surgical oncology and increasing number of cancer patients is contributing a significant market share to the radiofrequency ablation devices market, and the trend expected to continue during the forecast period.
The impact of the COVID-19 pandemic on cancer patients is high in terms of anxiety, fear, and psychological distress, which has primarily impacted the diagnosis and treatment of cancer due to the diversification of the medical work force and decision to focus on treating the critically ill. The procedures using RFA ablation devices for the treatment of various disorders have been postponed due to the ongoing pandemic crisis.
Several significant secondary sources referred to while preparing this report on the cold plasma equipment market include the World Health Organization (WHO), Centers for Disease Control and Prevention (CDC), European Society of Cardiology, and National Health Service (NHS).

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