Radiofrequency ablation is a relatively new method of reducing pain associated with back pain. In a recent review published by an organization that studies medical innovations, the Global Commission on Systemic Palliative Care (GCSPC) stated that the most common application for radiofrequency ablation is the treatment of pain in the spine, which has been used since the 1970s. There are many other applications, although these are two examples of the typical type of pain that this device is used to relieve.
Rising prevalence of cancer is expected to drive growth of the global radiofrequency ablation device market during the forecast period. The number of cancer cases has increased over the years globally. According to the World Health Organization (WHO), in 2018, around 18.1 million new cases of cancer and 9.6 million deaths due to cancer were reported globally. According to the same source, around 70% of deaths from cancer occur in emerging economies with lung cancer accounting for the majority of deaths followed by breast cancer. Furthermore, according to the National Cancer Institute, in 2020, around 1,806,590 new cases of cancer are expected to be diagnosed in the U.S. with over 600,000 people dying from this disease. Such high incidence of cancer has led to increased demand for radiofrequency ablation devices. Hence, these factors are expected to drive growth global radiofrequency ablation device market during the forecast period. Furthermore, rising prevalence of cardiovascular disease combined with increasing number of ablation procedures is expected to boost the global radiofrequency ablation device market growth over the forecast period.
However, unfavorable regulatory scenarios combined with high healthcare and maintenance cost is expected to hinder the global radiofrequency ablation device market growth over the forecast period. Furthermore, rising awareness regarding ablation procedures can present lucrative growth opportunities in the global radiofrequency ablation device market. Among regions, North America is expected to witness significant growth in the global radiofrequency ablation device market during the forecast period. This is owing to the high prevalence of cancer combined with the presence of robust healthcare infrastructure in the region. Furthermore, Asia Pacific is expected to register a robust growth rate over the forecast period. This is owing to the introduction of advanced technology such as multi-needle electrode that offers accuracy.
Key players operating in the global radiofrequency ablation devices market are Boston Scientific Corporation, AngioDynamics, Medtronic, Johnson & Johnson (J&J) Services, LLC, Stryker, Smith & Nephew, Cosman Medical, Inc., and St. Jude Medical.
For instance, in June 2020, Boston Scientific Corporation introduced DIRECTSENSE Technology, a tool monitoring the effect of radiofrequency (RF) energy delivery during cardiac ablation procedures.
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