The Global Radiofrequency Based Devices Market is anticipated to reach US$ 6.6 Billion in 2027. Globally, the integration of radiofrequency (RF) waves is one of the technological advancements in treatment delivery whereby RF waves are utilized for heating and killing cells within the patient's body. Remarkably, the RF waves are being used in numerous medical specialties, together with aesthetics. Moreover, the competition in the global radiofrequency-based aesthetic devices market will intensify in the future, owing to new market entrants and patent expiration.
The growing geriatric population and increasing focus on enhancing physical appearance are significant factors driving radio-frequency-based devices market growth. Also, radiation treatment is considered crucial in palliative and curative cancer therapy in geriatric patients. In addition, a rising preference for minimally invasive and non-invasive procedures is an essential factor driving demand for radio frequency-based devices for treatment. Radiofrequency therapy aids as an effective option to plastic surgery, with minimal side effects, as well as it carries much less time and is almost painless.
The COVID-19 had negatively affected the global radiofrequency-based devices industry during the initial period of 2020. The outbreak of Covid-19 declared the emergence of healthcare by the World Health Organization (WHO). Similarly, the governments levied nationwide lockdown and a prohibition on flights. In addition, due to the impulsive lockdown, the concerned activities on radiofrequency-based surgeries stopped and were postponed; the market encountered a decline.
However, the latter period of the pandemic demonstrates the significant growth of the market. Moreover, the usage of radio frequency-based devices is expected to increase, and the market will experience the foremost growth. The market shares are anticipated to have their average growth with the ascendance of the year 2021. As per the research findings, the Global Radiofrequency-Based Devices Industry was US$ 3.4 Billion in 2021.
The radio frequency-based devices market has been segmented into generators, radiofrequency probes, electrodes, and cannulas based on product. As per the analysis, the radiofrequency generators segment accounts for the highest market share throughout the study period. In the case of pain management, a radiofrequency generator transmits a small magnitude radiofrequency current utilizing insulated needle electrode to numb nerves, which transmit the pain signal to the brain. Similarly, radiofrequency probes will gain market traction during 2021-2027.
Based on application, the radio frequency-based devices market has been segmented into aesthetics devices, pain management devices, oncology devices, gynaecology devices, cardiology devices, and others. As per the analysis, the pain management segment accounts for the highest market share amongst other application segments within the global radiofrequency-based devices market throughout the study period. Besides, the aesthetics segment is expected to register the fastest growth rate over the forecast period. Wherein, increasing expenditure on cosmetic and aesthetic procedures has propelled the market's growth.
By end-use, the market is segregated into hospitals, ambulatory surgical centers, specialty clinics, and others. The developed infrastructure, high footfall, and increased healthcare expenses have made the hospital the most preferred end-use segment. Moreover, a surge in the volume of incidence of cancer and increasing use of radio frequency-based devices in the field of oncology in hospitals is expected to boost the segment's growth over the forecast period. In addition, the high demand for radiofrequency-based treatment is expanding the number of operating rooms assisting the evolution of the part, correspondingly boosting the growth of the Worldwide Radiofrequency-Based Devices Industry.
The dominance of the regional market in North America attributes to increasing investment in research and development of advanced radiofrequency devices, rising prevalence of chronic diseases, and increased healthcare expenditure. As per the analysis, the Latin America radiofrequency-based devices market is expected to register significantly robust during the forecast years, owing to a large patient pool suffering from chronic pain and rising demand for cosmetic skin care. Additionally, the growing geriatric population and advancing disposable income drive market expansion.
In November 2020, Abbott Laboratories announced an IonicRF generator for nervous system pain management operating for non-surgical treatment approaches. The device is designed for minimally invasive treatment using radiofrequency ablation to target specific nerves and control pain signals transmitted to the brain.
The global radiofrequency-based devices market is relatively fragmented. The key companies are well-established and initiatives to develop and deploy new and more efficient technologies and products in the radio frequency-based devices market. Some prominent players operating in the radio frequency-based devices market are Abbott Laboratories, ALMA Lasers (Sisram Medical Ltd), AtriCure, Inc., Medtronic plc, Stryker, Conmed Corporation, Smith & Nephew plc, Boston Scientific Corporation, Inc.
This latest report “Radiofrequency Based Devices Market, Global Forecast By Product (Generators, Radiofrequency Probes, Electrodes and Cannulas), Application (Aesthetics Devices, Pain Management Devices, Oncology Devices, Gynaecology Devices, Cardiology Devices, and Others), End-User (Hospitals, Ambulatory Surgical Centers, Specialty Clinics, And Others), Region (North America, Europe, Asia Pacific, Latin America and Middle East Africa), Companies (Abbott Laboratories, ALMA Lasers (Sisram Medical Ltd), AtriCure, Inc., Medtronic plc, Stryker, Conmed Corporation, Smith & Nephew plc, Boston Scientific Corporation, Inc.)” provides a detailed analysis of Radiofrequency-Based Devices Industry.
1. Generators
2. Radiofrequency Probes
3. Electrodes
4. Cannulas
1. Aesthetics Device
2. Pain Management Device
3. Oncology Device
4. Gynecology Device
5. Cardiology Device
6. Others Device
1. Hospital
2. Ambulatory Surgical Centers
3. Specialty Clinics, Others
1. North America
2. Europe
3. Asia Pacific
4. Latin America
5. Middle East Africa
1. Abbott Laboratories
2. ALMA Lasers (Sisram Medical Ltd)
3. AtriCure, Inc.
4. Medtronic plc
5. Stryker
6. Conmed Corporation
7. Smith & Nephew plc
8. Boston Scientific Corporation, Inc.
Global Radiofrequency Based Devices Market Size will expand with a double digit CAGR of 11.7% during 2021-2027
The growing geriatric population and increasing focus on enhancing physical appearance are significant factors driving radio-frequency-based devices market growth. Also, radiation treatment is considered crucial in palliative and curative cancer therapy in geriatric patients. In addition, a rising preference for minimally invasive and non-invasive procedures is an essential factor driving demand for radio frequency-based devices for treatment. Radiofrequency therapy aids as an effective option to plastic surgery, with minimal side effects, as well as it carries much less time and is almost painless.
Impact of Covid-19 on Global Radiofrequency-Based Devices Growth Trends
The COVID-19 had negatively affected the global radiofrequency-based devices industry during the initial period of 2020. The outbreak of Covid-19 declared the emergence of healthcare by the World Health Organization (WHO). Similarly, the governments levied nationwide lockdown and a prohibition on flights. In addition, due to the impulsive lockdown, the concerned activities on radiofrequency-based surgeries stopped and were postponed; the market encountered a decline.
However, the latter period of the pandemic demonstrates the significant growth of the market. Moreover, the usage of radio frequency-based devices is expected to increase, and the market will experience the foremost growth. The market shares are anticipated to have their average growth with the ascendance of the year 2021. As per the research findings, the Global Radiofrequency-Based Devices Industry was US$ 3.4 Billion in 2021.
Radiofrequency Generators Segment Accounts for Highest Market Share
The radio frequency-based devices market has been segmented into generators, radiofrequency probes, electrodes, and cannulas based on product. As per the analysis, the radiofrequency generators segment accounts for the highest market share throughout the study period. In the case of pain management, a radiofrequency generator transmits a small magnitude radiofrequency current utilizing insulated needle electrode to numb nerves, which transmit the pain signal to the brain. Similarly, radiofrequency probes will gain market traction during 2021-2027.
Aesthetics Segment Is Expected to Register Fastest Growth Rate
Based on application, the radio frequency-based devices market has been segmented into aesthetics devices, pain management devices, oncology devices, gynaecology devices, cardiology devices, and others. As per the analysis, the pain management segment accounts for the highest market share amongst other application segments within the global radiofrequency-based devices market throughout the study period. Besides, the aesthetics segment is expected to register the fastest growth rate over the forecast period. Wherein, increasing expenditure on cosmetic and aesthetic procedures has propelled the market's growth.
Globally the Hospital is The Most Preferred End-Use Segment
By end-use, the market is segregated into hospitals, ambulatory surgical centers, specialty clinics, and others. The developed infrastructure, high footfall, and increased healthcare expenses have made the hospital the most preferred end-use segment. Moreover, a surge in the volume of incidence of cancer and increasing use of radio frequency-based devices in the field of oncology in hospitals is expected to boost the segment's growth over the forecast period. In addition, the high demand for radiofrequency-based treatment is expanding the number of operating rooms assisting the evolution of the part, correspondingly boosting the growth of the Worldwide Radiofrequency-Based Devices Industry.
Latin America Radiofrequency-Based Devices Market Expects to Register a Significant Robust Growth
The dominance of the regional market in North America attributes to increasing investment in research and development of advanced radiofrequency devices, rising prevalence of chronic diseases, and increased healthcare expenditure. As per the analysis, the Latin America radiofrequency-based devices market is expected to register significantly robust during the forecast years, owing to a large patient pool suffering from chronic pain and rising demand for cosmetic skin care. Additionally, the growing geriatric population and advancing disposable income drive market expansion.
Competitive Landscape
In November 2020, Abbott Laboratories announced an IonicRF generator for nervous system pain management operating for non-surgical treatment approaches. The device is designed for minimally invasive treatment using radiofrequency ablation to target specific nerves and control pain signals transmitted to the brain.
The global radiofrequency-based devices market is relatively fragmented. The key companies are well-established and initiatives to develop and deploy new and more efficient technologies and products in the radio frequency-based devices market. Some prominent players operating in the radio frequency-based devices market are Abbott Laboratories, ALMA Lasers (Sisram Medical Ltd), AtriCure, Inc., Medtronic plc, Stryker, Conmed Corporation, Smith & Nephew plc, Boston Scientific Corporation, Inc.
This latest report “Radiofrequency Based Devices Market, Global Forecast By Product (Generators, Radiofrequency Probes, Electrodes and Cannulas), Application (Aesthetics Devices, Pain Management Devices, Oncology Devices, Gynaecology Devices, Cardiology Devices, and Others), End-User (Hospitals, Ambulatory Surgical Centers, Specialty Clinics, And Others), Region (North America, Europe, Asia Pacific, Latin America and Middle East Africa), Companies (Abbott Laboratories, ALMA Lasers (Sisram Medical Ltd), AtriCure, Inc., Medtronic plc, Stryker, Conmed Corporation, Smith & Nephew plc, Boston Scientific Corporation, Inc.)” provides a detailed analysis of Radiofrequency-Based Devices Industry.
Product - Breakup Covered from 4 viewpoints:
1. Generators
2. Radiofrequency Probes
3. Electrodes
4. Cannulas
Application - Breakup Covered from 6 viewpoints:
1. Aesthetics Device
2. Pain Management Device
3. Oncology Device
4. Gynecology Device
5. Cardiology Device
6. Others Device
End User - Breakup Covered from 3 viewpoints:
1. Hospital
2. Ambulatory Surgical Centers
3. Specialty Clinics, Others
Region - Breakup Covered from 5 viewpoints:
1. North America
2. Europe
3. Asia Pacific
4. Latin America
5. Middle East Africa
Company Insights:
- Overview
- Recent Development
- Revenue
Key Players:
1. Abbott Laboratories
2. ALMA Lasers (Sisram Medical Ltd)
3. AtriCure, Inc.
4. Medtronic plc
5. Stryker
6. Conmed Corporation
7. Smith & Nephew plc
8. Boston Scientific Corporation, Inc.
Table of Contents
1. Introduction2. Research& Methodology3. Executive Summary5. Global Radiofrequency-Based Devices Market
4. Market Dynamics
6. Market Share - Global Radiofrequency-Based Devices
7. Product - Global Radiofrequency-Based Devices Market
8. Application - Global Radiofrequency-Based Devices Market
9. End User - Global Radiofrequency-Based Devices Market
10. Region - Global Radiofrequency-Based Devices Market
11. Porters Five Forces
12. Key Players
List of Figures:
List of Tables:
Companies Mentioned
- Abbott Laboratories
- ALMA Lasers (Sisram Medical Ltd)
- AtriCure, Inc.
- Medtronic plc
- Stryker
- Conmed Corporation
- Smith & Nephew plc
- Boston Scientific Corporation, Inc.
Methodology
In this report, for analyzing the future trends for the studied market during the forecast period, the publisher has incorporated rigorous statistical and econometric methods, further scrutinized by secondary, primary sources and by in-house experts, supported through their extensive data intelligence repository. The market is studied holistically from both demand and supply-side perspectives. This is carried out to analyze both end-user and producer behavior patterns, in the review period, which affects price, demand and consumption trends. As the study demands to analyze the long-term nature of the market, the identification of factors influencing the market is based on the fundamentality of the study market.
Through secondary and primary researches, which largely include interviews with industry participants, reliable statistics, and regional intelligence, are identified and are transformed to quantitative data through data extraction, and further applied for inferential purposes. The publisher's in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of their recommendations and advice.
Primary Research
The primary purpose of this phase is to extract qualitative information regarding the market from the key industry leaders. The primary research efforts include reaching out to participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions. The publisher also established professional corporate relations with various companies that allow us greater flexibility for reaching out to industry participants and commentators for interviews and discussions, fulfilling the following functions:
- Validates and improves the data quality and strengthens research proceeds
- Further develop the analyst team’s market understanding and expertise
- Supplies authentic information about market size, share, growth, and forecast
The researcher's primary research interview and discussion panels are typically composed of the most experienced industry members. These participants include, however, are not limited to:
- Chief executives and VPs of leading corporations specific to the industry
- Product and sales managers or country heads; channel partners and top level distributors; banking, investment, and valuation experts
- Key opinion leaders (KOLs)
Secondary Research
The publisher refers to a broad array of industry sources for their secondary research, which typically includes, however, is not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Patent and regulatory databases for understanding of technical & legal developments
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic new articles, webcasts, and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecasts
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 140 |
| Published | January 2022 |
| Forecast Period | 2021 - 2027 |
| Estimated Market Value ( USD | $ 3.4 Billion |
| Forecasted Market Value ( USD | $ 6.6 Billion |
| Compound Annual Growth Rate | 11.7% |
| Regions Covered | Global |
| No. of Companies Mentioned | 8 |
