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Radiofrequency Ablation Devices Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

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  • 110 Pages
  • August 2022
  • Region: Global
  • Mordor Intelligence
  • ID: 5616837
UP TO OFF until Dec 31st 2023
The Radiofrequency Ablation Devices Market is expected to grow at a significant CAGR of 10.4% during the study period, 2022-2027.

The COVID-19 pandemic affected healthcare systems globally and resulted in the interruption of usual care in many healthcare facilities, exposing vulnerable patients with cancer to significant risks. For instance, a study titled 'Impact of the COVID-19 Pandemic on Cancer Care: A Global Collaborative Study' in 2020 reported that there were several challenges in delivering cancer care based on a survey from a total of 356 centers from 54 countries across six continents participated between April 21 and May 8, 2020. These centers serve 716,979 new patients with cancer a year. Most of them (88.2%) reported facing challenges in delivering care during the pandemic. Although 55.34% reduced services as part of a preemptive strategy, other common reasons included an overwhelmed system (19.94%), lack of personal protective equipment (19.10%), and staff shortage (17.98%), and restricted access to medications (9.83%).

Catheter ablation procedures for atrial fibrillation (AF) were significantly curtailed during the peak of the COVID-19 pandemic to conserve healthcare resources and limit exposure. According to the study "Rebooting atrial fibrillation ablation in the COVID-19 pandemic," published in February 2021, there were 0 cases of ablation-related COVID-19 transmission in the study population. However, there were a smaller number of transesophageal echocardiography procedures performed in 2020 as compared to 2019 despite of greater prevalence of persistent arrhythmia in 2020, indicating that healthcare resources were reutilized for COVID-19 care.

There was a higher chance of COVID-9 transmission using a radiofrequency ablation system. Therefore, fewer ablation procedures were performed, negatively impacting the market. With the COVID-19 restrictions easing, the market is expected to grow during the study period.

The factors propelling the studied market growth are the increasing prevalence of minimally invasive procedures, the growing burden of chronic diseases, and the senior population. In addition, the key market players' technological advancements, new product launches, and strategic initiatives will further drive the market growth. For instance, as per the 2020 statistics by GLOBOCAN 2020, 19,292,789 people were diagnosed with cancer in 2020. According to the same source, the number of people with cancer is estimated to reach 30.2 million by 2040. Thus, increasing cancer prevalence indicates a rising need for effective minimally invasive surgical procedures for cancer, thereby driving market growth.

Additionally, strategic initiatives such as product launches, mergers, acquisitions, partnerships, and others will lead to lucrative market growth. For instance, in March 2022, Suin launched an RF signal generator, an instrument that's especially used to produce RF signals for carrier tests.

Furthermore, the rising research and development studies proving the efficacies of existing products in the market are expected to further contribute to the market growth. For instance, the article "Next-generation catheter cuts AF ablation time," published in January 2022, evaluates the Biosense Webster's Qdot Micro catheter and demonstrates that contact force-sensing radiofrequency ablation catheter with temperature-controlled ablation and 3D electroanatomical mapping integration. It incorporates advanced, high-energy ablation, improved temperature monitoring, optimized irrigation, and higher signal resolution, providing physicians with a simplified workflow that helps shorten procedure time. Such advantages of radiofrequency ablation devices are expected to increase their adaptability, thereby driving the market growth. Moreover, in February 2022, Ramesh hospitals launched a modernized Cardiac Electrophysiology lab in Vijayawada, India, which will incorporate new therapies such as Radio Frequency Ablation, pacemakers, automatic implantable cardiac defibrillators, and others. Thus, such initiatives will increase the demand for radiofrequency devices, thereby driving the market.

Therefore, owing to the factors above, the studied market is expected to grow significantly during the study period. However, low awareness and availability of alternative treatment methods and high treatment costs are expected to hinder the market growth during the forecast period.

Key Market Trends

Oncology Segment is Expected to Account for the Largest Market Share During the Forecast Period

Cancer arises from converting normal cells into tumor cells in a multidisciplinary process that usually progresses from pre-cancerous to malignant tumors. Globally, a growing increase in cancer cases contributes to increasing demand for the ablation process, which increases the market growth of radiofrequency ablation devices.

The increase in the burden of cancer due to a rise in the geriatric population and an increase in consumption of alcohol and tobacco is expected to drive the market. For example, according to the World Health Organization (WHO), in September 2021, about one-third of all cancer deaths are due to tobacco use, high body weight index, alcohol consumption, low fruit and vegetable diets, and physical inactivity. Therefore, an increase in tobacco use is expected to cause an increase in cancer, thus contributing to market growth.

The number of cancer cases is increasing worldwide. For example, a September 2021 World Health Organization (WHO) update shows that cancer will kill about 10 million people worldwide by 2020. The most common cancers by 2020 (according to new cancer cases) were: breast cancer (2.26 million cases); lungs (2.21 million cases); colon and rectum (1.93 million cases); prostate (1.41 million patients); skin (non-melanoma) (1.20 million cases); and stomach (1.09 million cases).

In addition, the growing cost of research and development will also increase the availability of radiofrequency devices in the treatment of various types of cancer, thereby accelerating market growth. For example, the study “Endoscopic Radiofrequency Ablation (RAF) Combined With Gemcitabine and S-1 in Patients for Unresectable Cholangiocarcinoma: A Randomized Open-Labeled Clinical Trial” was initiated in January 2020 by the First People’s Hospital of Hangzhou to compare efficacy and safety of RAF combined with Gemcitabine and S-1 in patients with unrefined cholangiocarcinoma. This study is expected to be completed by June 2022. Therefore, the positive results from such practices will surge the market’s growth.

Therefore, the studied component is expected to contribute to significant market growth because of the above factors.

North America is Expected to Hold a Significant Share in the Market and Expected to do Same over the Forecast Period

The primary driving factors for the growth of the North American radiofrequency (RF) ablation devices market are the increasing prevalence of chronic diseases, increasing demand for minimally invasive surgeries, increasing product launches, and rising strategic initiatives by key market players.

The United States is expected to hold a significant share in the studied market in the North American region during the forecast period. For instance, according to the estimates of the 2022 American Cancer Society, Inc., about 236,740 new cases of lung cancer will be diagnosed in the country in 2022. The same source also states that 79,000 new cases and 13,920 deaths will be reported in 2022 from Kidney cancer. Thus, the high burden of cancer is expected to boost the demand for ablation devices, thereby driving the market growth.

Moreover, strategic initiatives taken by the key market players such as product launches, partnerships, new programs, mergers, and acquisitions are likely to drive market growth. For instance, in February 2021, the Food and Drug Administration approved Medtronic’s DiamondTemp irrigated ablation catheter in RF cardiac ablation space, designed to treat patients with recurrent atrial fibrillation that has not responded to drug therapies.

Furthermore, in November 2020, Abbott launched the IonicRF Generator, which is expected to deliver a non-surgical, minimally invasive treatment for managing pain in the nervous system. The IonicRF Generator is a radiofrequency ablation device that uses heat to target specific nerves and block pain signals from reaching the brain. Moreover, in February 2019, Medtronic launched the Accurian radio frequency (RF) ablation system in the United States, following 510(k) clearance from the Food and Drug Administration. Thus, launching such products will expand the company’s offerings and geographical footprint, driving market growth over the forecast period.

Therefore, the studied market is expected to lead to lucrative growth in North America due to the abovementioned factors.

Competitive Landscape

The major players in the market are Avanos Medical Inc., Stryker, Abbott, Medtronic, Boston Scientific Corporation, and Others.

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Table of Contents

1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Preference for Minimally Invasive Procedures
4.2.2 Increasing Prevalence of Chronic Diseases
4.3 Market Restraints
4.3.1 Low awareness and availability of alternative treatment method
4.3.2 High treatment cost
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION (Market Size by Value - USD Million)
5.1 By Product Type
5.1.1 Radiofrequency Generators
5.1.2 Consumables
5.2 By Application
5.2.1 Oncology
5.2.2 Cardiology and Cardiac Rhythm Management
5.2.3 Gynecology
5.2.4 Pain Management
5.2.5 Other Applications
5.3 Geography
5.3.1 North America United States Canada Mexico
5.3.2 Europe Germany United Kingdom France Italy Spain Rest of Europe
5.3.3 Asia-Pacific China Japan India Australia South Korea Rest of Asia-Pacific
5.3.4 Middle-East and Africa GCC South Africa Rest of Middle-East and Africa
5.3.5 South America Brazil Argentina Rest of South America
6.1 Company Profiles
6.1.1 Avanos Medical, Inc.
6.1.2 Stryker
6.1.3 Abbott
6.1.4 Medtronic
6.1.5 Boston Scientific Corporation
6.1.6 Becton, Dickinson and Company (Venclose, Inc.)
6.1.7 AngioDynamics, Inc.
6.1.8 Hologic, Inc.
6.1.9 AtriCure, Inc.
6.1.10 Koninklijke Philips N.V.
6.1.11 Smith+Nephew
6.1.12 Baylis Medical Company, Inc

Companies Mentioned

A selection of companies mentioned in this report includes:

  • Avanos Medical, Inc.
  • Stryker
  • Abbott
  • Medtronic
  • Boston Scientific Corporation
  • Becton, Dickinson and Company (Venclose, Inc.)
  • AngioDynamics, Inc.
  • Hologic, Inc.
  • AtriCure, Inc.
  • Koninklijke Philips N.V.
  • Smith+Nephew
  • Baylis Medical Company, Inc