Tag Archives: Radiofrequency Ablation Devices for Pain Management Market

Radiofrequency Ablation Devices for Pain Management Market: Industry Players Shifting Focus towards Developing Economies

The radiofrequency ablation devices for pain management market features a markedly high level of consolidation, with the top three vendors,  St. Jude Medical, Inc., Halyard Health, Inc., and Boston Scientific Corporation, accounting for a share of over 88% in 2015, observes Transparency Market Research. “These companies have strengthened their hold on the market owing to diversified product portfolios, extensive geographical presence, and strategic acquisitions over the past few years,” states a TMR analyst. Increased focus on emerging economies and increase in product launches are some of the most popular strategies adopted by top players.

Transparency Market Research states that the global radiofrequency ablation devices for pain management market, which valued at US$372.7 mn in 2015, is expected to rise to US$1,114.5 mn in 2024. This translates to a potential 13.0% CAGR over the period between 2016 and 2024.

 Read Full Report: http://www.transparencymarketresearch.com/radiofrequency-ablation-devices.html

In terms of product varieties, the segment of disposable RF products dominated, accounting for a 40% of the overall market in 2015. The segment of RF generators is expected to exhibit expansion at the most promising pace over the forecast period. From a geographic perspective, the market in North America dominated in 2015, accounting for over 40% of the global market in 2015. However, the global market is expected to witness most lucrative growth opportunities in emerging economies across regions such as Asia Pacific and Latin America over the forecast period.

Rising Prevalence of Chronic Pain to Have Sizeable Positive Impact on Market Growth

The rising prevalence of chronic pain conditions and the rising geriatric population of the world are among the key factors leading to the rising global demand for pain management therapies such as the ones that use radiofrequency ablation devices. The global market for these devices for pain management is also highly influenced by the rising demand for minimally invasive procedures across the globe.

Benefits such as lesser post-surgery complications, low chances of side effects, and shorter span of recovery work in favor of minimally invasive surgeries and related devices. Radiofrequency ablation devices for pain management are also gaining increased focus owing to the higher known side effects and lower efficiency of alternate pain relief procedures and therapeutics options such as acupressure, acupuncture, and opioids. The easy availability, cost-effectiveness, and easy access to highly effective radiofrequency ablation devices for pain management have also propelled the market for these devices of late.

Download exclusive Sample of this Report: http://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=985

Regulatory Hurdles Delaying Approval of New Devices to Hamper Market Growth

The need to comply with stringent laws and regulations set by regulatory authorities that are closely associated with product approvals, clinical trials, design, development, and commercialization hamper the overall development of the market to a sizable extent. Ablation devices come under class III medical device category in Europe and the U.S. Owing to this, the efficacy and safety of devices such as catheters and generators are paramount to gain approval. Strict regulations do not only delay approval, launch, and marketing of these products but also lead to increased prices.

Decisions of regulatory authorities and cost containment measures undertaken by government authorities also have a negative impact on the reimbursement scenario and restrain the market for radiofrequency ablation devices for pain management. Along with these factors, the low costs of several pain management therapeutic options such as anticonvulsants, antidepressants, and NSAIDs also significantly impact and restrain the overall development of the global radiofrequency ablation devices for pain management market.

This review of the market is based on a market research report recently published by Transparency Market, titled “Radiofrequency Ablation Devices for Pain Management Market (Product – RF Generators, Reusable Products, and Disposable Products; End-user – Specialty Clinics, Ambulatory Surgical Centers, and Hospitals) – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 – 2024.”

Radiofrequency Ablation Devices for Pain Management Market Outlook and Forecast up to 2024

radiofrequency-ablation-devicesThe radiofrequency ablation devices for pain management market features a markedly high level of consolidation, with the top three vendors, St. Jude Medical, Inc., Halyard Health, Inc., and Boston Scientific Corporation, accounting for a share of over 88% in 2015, observes Transparency Market Research. “These companies have strengthened their hold on the market owing to diversified product portfolios, extensive geographical presence, and strategic acquisitions over the past few years,” states a TMR analyst. Increased focus on emerging economies and increase in product launches are some of the most popular strategies adopted by top players.

Transparency Market Research states that the global radiofrequency ablation devices for pain management market, which valued at US$372.7 mn in 2015, is expected to rise to US$1,114.5 mn in 2024. This translates to a potential 13.0% CAGR over the period between 2016 and 2024.

In terms of product varieties, the segment of disposable RF products dominated, accounting for a 40% of the overall market in 2015. The segment of RF generators is expected to exhibit expansion at the most promising pace over the forecast period. From a geographic perspective, the market in North America dominated in 2015, accounting for over 40% of the global market in 2015. However, the global market is expected to witness most lucrative growth opportunities in emerging economies across regions such as Asia Pacific and Latin America over the forecast period.

Rising Prevalence of Chronic Pain to Have Sizeable Positive Impact on Market Growth

The rising prevalence of chronic pain conditions and the rising geriatric population of the world are among the key factors leading to the rising global demand for pain management therapies such as the ones that use radiofrequency ablation devices. The global market for these devices for pain management is also highly influenced by the rising demand for minimally invasive procedures across the globe.

Benefits such as lesser post-surgery complications, low chances of side effects, and shorter span of recovery work in favor of minimally invasive surgeries and related devices. Radiofrequency ablation devices for pain management are also gaining increased focus owing to the higher known side effects and lower efficiency of alternate pain relief procedures and therapeutics options such as acupressure, acupuncture, and opioids. The easy availability, cost-effectiveness, and easy access to highly effective radiofrequency ablation devices for pain management have also propelled the market for these devices of late.

Download exclusive Sample of this Report: http://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=985

Regulatory Hurdles Delaying Approval of New Devices to Hamper Market Growth

The need to comply with stringent laws and regulations set by regulatory authorities that are closely associated with product approvals, clinical trials, design, development, and commercialization hamper the overall development of the market to a sizable extent. Ablation devices come under class III medical device category in Europe and the U.S. Owing to this, the efficacy and safety of devices such as catheters and generators are paramount to gain approval. Strict regulations do not only delay approval, launch, and marketing of these products but also lead to increased prices.

Decisions of regulatory authorities and cost containment measures undertaken by government authorities also have a negative impact on the reimbursement scenario and restrain the market for radiofrequency ablation devices for pain management. Along with these factors, the low costs of several pain management therapeutic options such as anticonvulsants, antidepressants, and NSAIDs also significantly impact and restrain the overall development of the global radiofrequency ablation devices for pain management market.

This review of the market is based on a market research report recently published by Transparency Market, titled “Radiofrequency Ablation Devices for Pain Management Market (Product – RF Generators, Reusable Products, and Disposable Products; End-user – Specialty Clinics, Ambulatory Surgical Centers, and Hospitals) – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 – 2024.”

Radiofrequency Ablation Devices for Pain Management Market size and Key Trends in terms of volume and value 2015-2023

Radiofrequency (RF) 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 caused due to degeneration of joints (due to arthritis and other spinal conditions). The procedure involves heating a small area of nervous tissue under controlled temperature. This results in blockage of pain signals transmitting from that area, thereby relieving the patient from chronic pain. The global RF ablation devices for pain management market was valued at US$ 358.7 Mn in 2014 and is projected to reach US$ 1,087.9 Mn by 2023 at a CAGR of 12.9% during the forecast from 2015 to 2023. The global radiofrequency ablation devices for pain management market has been broadly segmented on the basis of product type (capital equipment, reusables, and disposables) and geography (North America, Europe, Asia Pacific, Latin America, and Rest of the World).

Over the years, several techniques have been used to selectively destroy nervous tissue in the spinal axis, brain, and other locations in the body. However, the radiofrequency ablation devices have been proven to be the most effective and widely adopted technique to achieve pain relief for longer durations. The revolutionary changes in technology are being reflected through products such as cooled radiofrequency technology platforms which allow creation of larger lesions without excessive heating at the electrode. For instance, COOLIEF Cooled RF System from Halyard Health, Inc. (formerly Kimberly-Clark Health Care) can be used for pain management of hip, knee, cervical, thoracic, sacroiliac, transdiscal, and lumbar pain.

The global radiofrequency ablation devices for pain management market have been categorized into three segments based on type: capital equipment, reusables, and disposables. The capital equipment, i.e., RF generators are utilized to provide heat energy to destroy selective nerves carrying pain impulses from the affected organ. Products in the reusables and disposables segment are priced less in terms of US$, but garner substantial revenue in the global RF ablation devices for pain management market owing to high volume sales. These products are initially provided as part of ablation device package, but can be procured separately.

Geographically, North America held the largest share in the global radiofrequency ablation devices for pain management market in 2014, while Europe was the second largest regional market. One of the major factors responsible for the continued growth in these markets include aging population more susceptible to arthritis. According to a report by the World Health Organization, growth rate of aging population is expected to be higher in developed nations, especially in the U.S., Japan, and several countries in Europe. Hence, the market for RF ablation devices for pain management in North America and Europe will continue to progress at a healthy growth rate during the forecast period from 2015 to 2023.

Download Free exclusive Sample of this Report: http://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=985

Asia Pacific will be the growth driver for global radiofrequency ablation devices for pain management market in the near future. According to the World Bank, India is likely to record the strongest economic recovery among other major developing nations from 2013 to 2016. The country is expected to witness a growth rate of 7.1% in 2016, up 2.3% from 4.8% recorded in 2013. China’s economic growth has been more than 7.5% during 2013 and is expected to continue at a similar rate in future as well. This economic growth is expected to increase the disposable income of the patient population and in turn increase the health care expenditure on novel therapies such as radiofrequency ablation devices. The rapidly aging population in Japan is also likely to contribute to the growth of the market in the region during the forecast period from 2015 to 2023.

Global Radiofrequency Ablation Devices Market to Soar Thanks to Increasing Preference for Minimally Invasive Procedures

Radiofrequency ablation (RFA) is a procedure used for pain management. An electrical current is produced by a radio wave and is used to heat up a small area of nerve tissue, which reduces pain signals from that specific area. Radiofrequency ablation finds application in a wide range of minimally invasive procedures in pain management, oncology, gynecology, cosmetology, and hypertension. Ablation of tissue/nerves for pain management is carried out due to two different types of output of energy called pulsed RF ablation (PRF) and short duration continuous RF ablation. Continuous RF ablation technology has a higher chance of resulting in permanent damage to nerves and hence requires very precise placement of electrodes. On the other hand, short duration PRF technology uses intermittent pulsed doses and is safer than continuous radiofrequency ablation.Radiofrequency ablation for pain management is an excellent emerging option for patients suffering from chronic pain. Approximately 80% of the pain management applications of radiofrequency ablation are aimed towards chronic pain around the back and spine, followed by trigeminal neuralgia and sacroiliac joint pain.

Read Full Article: http://www.transparencymarketresearch.com/article/radiofrequency-ablation-devices.htm

Accelerating Demand for Minimally Invasive Procedures to Fuel Application of RFA

The global healthcare industry is undergoing dynamic changes. These changes are driven by technological advancements in diagnostics, therapeutics, and medical devices. One of the most remarkable developments in the recent times in the healthcare industry is the rapidly growing demand for minimally invasive procedures. These procedures are the result of innovative developments in the field of endoscopy, medical lasers, radiofrequency ablation devices, and robotics. According to a U.S.-based market research firm, the global minimally invasive surgery market will be worth US$50.60 billion by 2019.

The continuously evolving and strong demand for minimally invasive surgery has spurred the demand for radiofrequency ablation devices. The global radiofrequency ablation devices market for pain management was worth US$296.6 million in 2011 and will expand at a marked 19.4% CAGR during the forecast period of 2012 to 2018. The global radiofrequency ablation devices market is estimated to reach total market revenue of US$1,027.6 million by 2018.

Get Free Sample: http://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=985

Disposable Radiofrequency Ablation Devices to Emerge as Fastest Growing Sector

Product-wise, the global radiofrequency ablation devices market is classified into reusables, disposables, and capital equipment. These products are used in several medical fields such as cosmetology, hypertension, cardiology, pain management, gynecology, cardiac rhythm management, and surgical oncology. In 2011, disposable radiofrequency ablation devices constituted the largest product segment in the radiofrequency ablation devices market used for pain management. This segment will demonstrate the highest CAGR during the forecast period and emerge as the fastest growing product segment in the global radiofrequency ablation devices market. Capital equipment and reusable radiofrequency ablation devices will demonstrate a moderate growth as well during the forecast period.

Geographically, the global radiofrequency ablation devices market is divided into North America, EMEA, Asia Pacific, and Rest of the World. North America led the global radiofrequency ablation devices as well as the minimally invasive procedures market in 2011. On the other hand, Asia Pacific will expand at the fastest CAGR of 20.6% during the forecast period.

Besides the demand for minimally invasive procedures, the global radiofrequency ablation devices market also benefits from the rising prevalence of chronic arthritis and the increasing global geriatric population. Technological advancements in the ablation devices, which will make the devices more convenient and even less risky, will further fuel this market. However, the market will be suppressed by the highly selective group of patients that are compatible for this procedure and side effects experienced by RF ablation for paint management.

Nevertheless, companies in the global radiofrequency ablation devices will tap the market opportunity in the emerging economies of Asia, Eastern Europe, and Latin America. Some of the corporations dominating the global radiofrequency ablation devices market are Diros Technology, Inc., Cosman Medical, Inc., Stryker Corporation, Kimberly-Clark Corporation, St. Jude Medical, Inc., Biosense Webster, Inc., and Accuray, Inc.

Browse Full Global Radiofrequency Ablation Devices Market Report With Complete TOC @ http://www.transparencymarketresearch.com/radiofrequency-ablation-devices.html

About us:

Transparency Market Research (TMR) is a U.S.-based provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.

Contact us:

Mr. Sudip S

Transparency Market Research

90 State Street,

Suite 700,

Albany

NY – 12207

United States

Tel: +1-518-618-1030

USA – Canada Toll Free 866-552-3453

Email: sales@transparencymarketresearch.com

Website: http://www.transparencymarketresearch.com/