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

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

  • May 2020
  • 120 pages
  • ID: 5894574
  • Format: PDF
  • The Insight Partners
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North America Radiofrequency Ablation Devices Market Forecast to 2027 - Covid-19 Impact and Regional Analysis by Product and Applications.
The North American the radiofrequency ablation devices market is anticipated to reach US$ 3,214.24 Mn in 2027 from US$ 1,347.06 Mn in 2019; it is projected to grow at a CAGR of 11.8% during 2020-2027. 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 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.As per the US Department of Health & Human Services, 15 million adults suffered extreme joint pain from arthritis in 2015, and an additional 78 million (26%) of the US people aged ?18 are predicted to be diagnosed with arthritis by 2040.

Chronic pain lasts for a long period, and it is resilient to most medical treatments as well as leads to serious physiological and mental problems that affect the quality of life. According to the study of the Community Chiropractic Center, over 31.0% of the Americans suffer from back pain, and it is expected that such large presence of target patients would fuel the demand for radiofrequency ablation devices in this region in the coming years. In 2019, ~1,762,450 people were diagnosed with new cases of cancer in the US and 606,880 people died from the disease, according to the American Cancer Society, Inc.
Radiofrequency ablation is a minimally invasive technique that uses heat and electrical energy to destroy cancer cells and other dysfunctional tissues.In recent years, it has been in use to treat a wide range of medical conditions stressing to chronic pain.

The technique is also used for treating patients suffering from the cancer of adrenal glands, breast, bone, kidney, liver, lung, pancreatic, and thyroid gland.In addition to oncology, the radiofrequency ablation technology is also being used in the treatment of cardiac patients, when medicines or other treatments fail to cure these conditions.

It is used to treat cardiac arrhythmia where it destroys a small area of the heart tissue that is causing irregular heartbeats to restore regular heartbeats.Further, the technology has gained a lot of attention in pain management, dermatology; it is also being widely used in gynecology to treat uterine fibroids.

Such a wide use of the radiofrequency ablation technology in the therapeutics applications is driving the growth of the radiofrequency ablation devices market.
North America is witnessing the rapidly growing number of COVID-19 cases; for instance, in the US, the number of cases has been increased to 614,246, with 26,064 deaths reported. According to the Breastcancer.org, in the country, many doctors, hospitals, and other healthcare facilities are delaying or canceling the breast cancer procedures and surgeries, as well as screenings or other treatments if they are not considered urgent, emergencies, or otherwise indicated for life-threatening conditions. This is likely to bring down the demand for radiofrequency ablation devices in the coming months.
In 2019, the disposables segment accounted for a larger share of the radiofrequency ablation devices market, based on product, in North America.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 North American ablation devices market, based on application, in 2019. However, the cardiology segment is estimated to register the highest CAGR of 12.5% in the market during the forecast period. The RFA technology has been widely used 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.
A few of the significant secondary sources referred to while preparing this report on the North American radiofrequency ablation devices market include the World Health Organization (WHO), Centers for Disease Control and Prevention (CDC), US Department of Health & Human Services, and American Cancer Society.

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