Published Date : May 15, 2017
Albany, New York, May 15, 2017: MarketResearchReports.biz now features a report, titled “Global Radiofrequency Ablation Market 2017-2021”. The study gives a 360-degree view of the market. According to the report, the global market for radiofrequency ablation will exhibit a CAGR close to 9.0% from 2017 to 2021.
Radiofrequency ablation procedures are minimally invasive in nature and therefore, the rising reference for minimally invasive techniques is providing a fillip to the global market. These procedures ensure minimal pain and complications, short hospital stay and recovery time, and minimum risk of infections. The rising prevalence of chronic diseases such as cardiovascular diseases and cancer is also working in favor of the market.
On the flip side, the high cost of treatment along with the availability of substitutes is hampering the growth of the market. Furthermore, the lack of skilled physicians and medical practitioners is inhibiting the growth of the market. Nevertheless, the increasing number of training programs provided by radiofrequency ablation systems manufacturers is likely to provide a significant push to the global radiofrequency ablation market.
On the basis of product, the global radiofrequency ablation market is divided into radiofrequency ablation consumables and accessories, radiofrequency ablation catheters, and radiofrequency ablation systems. The radiofrequency ablation consumables and accessories segment will continue to dominate the market until 2021. The increasing use of broad range of accessories and disposable during radiofrequency ablation procedures, especially in emerging nations such as India, Mexico, Brazil, and China. The growing preference for minimally invasive techniques is paving way for the increased use of various consumables and accessories for radiofrequency cardiac ablation procedures.
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Based on end user, the global market is fragmented into hospitals, ambulatory surgical centers (ASCs), and physicians’ offices. Hospitals will continue to account for the lion’s share in the market until 2021. The rising preference for hospitals over other healthcare units can be attributed to the fact that hospitals offer a large number of inpatient and outpatient services, procure medical consumables and products on bulk, and engage closely with many suppliers.
From the geographical standpoint, the market is segmented into Europe, the Middle East, and Africa (EMEA), Americas, and Asia Pacific. The Americas will continue to be the frontrunner in the global arena until 2021. The growth of the region can be attributed to the growing prevalence of chronic diseases such as cancer and cardiovascular disorders and the availability of favorable reimbursement framework. Moreover, the presence of an advanced healthcare infrastructure, particularly in the U.S. and Canada, is supplementing the growth of the region.
The global radiofrequency ablation market features a high degree of competition and concentration. There are a large number of regional and international participants in the global arena who are competing with other in terms of pricing and product innovation. The majority of key players are focusing towards streamlining their research and development activities to minimize their equipment cost and maximize their profitability.
The leading players in the global market for radiofrequency ablation are St. Jude Medical, Medtronic, Stryker, AngioDynamics, and Boston Scientific. Some of the other prominent companies operating in the market are Accuray, PLC Medical Systems, APT Medical, Biosense Webster, AtriCure, Halyard Health, CONMED, Hansen Medical, Merit Medical Systems, Osypka Medical, MicroPort Scientific, Smith & Nephew, and Total Vein Systems.
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