North America Radiofrequency Ablation Devices Market Forecast to 2027 - Covid-19 Impact and Regional Analysis by Product (Devices and Disposables) Application (Surgical Oncology, Cardiology, Gynecology, Cosmetology, and Pain Management), and Geography
The North America radiofrequency ablation devices market is anticipated to reach US$ 3,214.24 Mn by 2027 from US$ 1,347.06 Mn in 2019. The market is projected to grow at a CAGR of 11.8% from 2020 to 2027.
The radiofrequency ablation devices transmit the energy of radiofrequency waves and destroy the target tissue. This technology has been widely in use to treat solid tumors, arrhythmias, uterine fibroids, and other medical conditions. The growth of the market in North America is driven by factors such as the increasing incidence of chronic illness and growing preference for minimally invasive proceduresin the region. However, side-effects associated with radiofrequency ablation restrain the market growth to a certain extent.
Growing healthcare expenditure is another factor contributing to growth of the North America radiofrequency ablation device market. The rise in the number of patients getting admitted to hospitals to cure suffering from different types of pain, highinsurance premium policies,and high deductibles in hospitals are among the factors responsible for the surge in healthcare costs. According to a study by the American Medical Association, in 2017,the US spent ~US$3.5 trillion on healthcare.Moreover, as per a study published in the Journal of the American Medical Association (JAMA) in March 2019, healthcare expenditure in the US during 1996–2015 rose nearly by US$ 1 trillion. The study reported that the overall healthcare spending in the US was US$3.5 trillion, i.e., ~US$11,000 per person,in 2017, and these costs are expected to climb to US$6 trillion—i.e., ~US$17,000 per person.Further, the increase in the incidence of chronic conditions has had a direct impact on increases in the cost of medical care, and almost half of the Americans have some form of chronic illness.
The RFA treatment is a prime trend in pain management nowadays, and in treatment of chronic illness associated with advancement in technology and healthcare infrastructure facilities is anticipated to havea positive influence in the revenue generation from radiofrequency ablation devices. Minimally invasive treatment procedures are associated with smaller incisions, less pain, shorter hospital stay, faster recovery, less scarring, and increased accuracy, which is leading to a greater preference for these procedures around the world. Moreover, due to lowered pain and discomfort, patients undergoing minimally invasive surgeries do not require large doses of painkillers. Such procedures have small size of the incision, which helps in healing faster than conventional surgeries, thereby allowing patients to get back to their normal lives as quickly as possible.Ablation is one of the most frequently used minimallyinvasive techniques for the treatment of various tumors, AF, and uterine fibroids.According to the American Society for Aestethic Plastic Surgery,the number of minimally invasive cosmetic procedures in the US increased from ~13.9 million in 2014 to 14.2 million in 2015.
The radiofrequency ablation procedure involves the injection of local anesthesia, followed by the insertion of a thin needle through a tiny incision to pass heat and electrical energy. The technology avoids scars and other risks associated with traditional open surgeries. Moreover, as the procedure is devoid of large cuts, it can be carried on extremely sick or old patients, as they cannot bear the stress associated with open surgeries. The completion of the total procedure takes 30–90 minutes, and the patients are monitored for a day, or in several cases, they are discharged on the same day. Further, they can recover in less time and can get back to daily life in ~1–3 weeks. Thus, the benefits associated with the minimal invasiveness of theprocedure of radiofrequency ablation treatment are driving the growth of the market.
North America is witnessing the rapidly growing number of COVID-19 cases; for instance, in the US, the number of cases has been increased to 614,246, with 26,064 deaths reported. According to the Breastcancer.org, in the country, many doctors, hospitals, and other healthcare facilities are delaying or canceling the breast cancer procedures and surgeries, as well as screenings or other treatments if they are not considered urgent, emergencies, or otherwise indicated for life-threatening conditions. Thus, the prevailing COVID-19 pandemic is likely to affect the radiofrequency ablation devices market growing in the coming months.
Mexico Radiofrequency Ablation Devices Market Revenue and Forecast to 2027 (US$Mn)
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NORTH AMERICARADIOFREQUENCY ABLATION DEVICES MARKET– MARKET SEGMENTATION
By Product
- Devices
- Disposables
By Applications
- Surgical Oncology
- Cardiology
- Cosmetology
- Gynecology
- Pain Management
By Country
- US
- Canada
- Mexico
Companies Profiled
- Avanos Medical, Inc.
- Stryker
- Abbott
- Boston Scientific
- Bard (BD)
- Angiodynamic
- Hologic
- Articure
- Merit medical
1. Introduction
1.1 Scope of the Study
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
1.3.1 North America Radiofrequency Ablation Devices Market – By Product
1.3.2 North America Radiofrequency Ablation Devices Market – By Applications
1.3.3 North America Radiofrequency Ablation Devices Market – By Country
2. North America Radiofrequency Ablation Devices Market – Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. North America Radiofrequency Ablation Devices Market – Market Landscape
4.1 Overview
4.2 PEST Analysis
4.2.1 Radiofrequency Ablation Devices Market - North America PEST Analysis
4.3 Expert Opinion
5. North America Radiofrequency Ablation Devices Market - Key Market Dynamics
5.1 Key Market Drivers
5.1.1 Prevalence of Chronic Illness
5.1.2 Increasing Preference for Minimally Invasive Procedures
5.2 Key Market Restraints
5.2.1 Side Effects Associated with Radiofrequency Ablation
5.3 Key Market Opportunities
5.3.1 Growing Healthcare Expenditure
5.4 Future Trends
5.4.1 Consistent Radiofrequency Ablation Product Launches and Approvals
5.5 Impact Analysis
6. Radiofrequency Ablation Devices Market – North America Analysis
6.1 North America Radiofrequency Ablation Devices Market Revenue Forecasts and Analysis
7. North America Radiofrequency Ablation Devices Market Analysis And Forecasts To 2027 – By Product
7.1 Overview
7.2 North America Radiofrequency ablation devices market, By Product 2019 & 2027 (%)
7.2.1 North America Radiofrequency Ablation Devices Market Revenue and Forecasts to 2027, By Product (US$ Mn)
7.3 Devices
7.3.1 Overview
7.3.2 North America Devices Market Revenue and Forecast to 2027 (US$ Mn)
7.4 Disposables
7.4.1 Overview
7.4.2 North America Disposables Market Revenue and Forecasts to 2027 (US$ Mn)
8. North America Radiofrequency Ablation Devices Market Analysis – By Applications
8.1 Overview
8.2 North America Radiofrequency Ablation Devices Market, By Applications 2019-2027 (%)
8.2.1 North America Radiofrequency Ablation Devices Market Revenue and Forecasts to 2027, By Applications (US$ Mn)
8.3 Surgical Oncology
8.3.1 Overview
8.3.2 North America Surgical Oncology Market Revenue and Forecasts to 2027 (US$ Mn)
8.4 Cardiology
8.4.1 Overview
8.4.2 North America Cardiology Market Revenue and Forecasts to 2027 (US$ Mn)
8.5 Cosmetology
8.5.1 Overview
8.5.2 North America Cosmetology Market Revenue and Forecasts to 2027 (US$ Mn)
8.6 Gynaecology
8.6.1 Overview
8.6.2 North America Gynaecology Market Revenue and Forecasts to 2027 (US$ Mn)
8.7 Pain Management
8.7.1 Overview
8.7.2 North America Pain Management Market Revenue and Forecasts to 2027 (US$ Mn)
9. Radiofrequency Ablation Devices Market Revenue and Forecasts To 2027 – Geographical Analysis
9.1 North America Radiofrequency Ablation Devices Market Revenue and Forecasts To 2027
9.1.1 Overview
9.1.2 North America: Radiofrequency Ablation Devices Market – Revenue and Forecast to 2027 (USD Million)
9.1.3 North America: Radiofrequency Ablation Devices Market, by Product, 2018–2027 (USD Million)
9.1.4 North America: Radiofrequency Ablation Devices Market, by Application, 2018–2027 (USD Million)
9.1.5 North America: Radiofrequency Ablation Devices Market, by Country, 2019 & 2027 (%)
9.1.6 US: Radiofrequency Ablation Devices Market – Revenue and Forecast to 2027 (USD Million)
9.1.6.1 US: Radiofrequency Ablation Devices Market – Revenue and Forecast to 2027 (USD Million)
9.1.6.2 US: Radiofrequency Ablation Devices Market, by Product, 2018–2027 (USD Million)
9.1.6.3 US: Radiofrequency Ablation Devices Market, by Application, 2018–2027 (USD Million)
9.1.7 Canada: Radiofrequency Ablation Devices Market – Revenue and Forecast to 2027 (USD Million)
9.1.7.1 Canada: Radiofrequency Ablation Devices Market – Revenue and Forecast to 2027 (USD Million)
9.1.7.2 Canada: Radiofrequency Ablation Devices Market, by Product, 2018–2027 (USD Million)
9.1.7.3 Canada: Radiofrequency Ablation Devices Market, by Application, 2018–2027 (USD Million)
9.1.8 Mexico: Radiofrequency Ablation Devices Market – Revenue and Forecast to 2027 (USD Million)
9.1.8.1 Mexico: Radiofrequency Ablation Devices Market – Revenue and Forecast to 2027 (USD Million)
9.1.8.2 Mexico: Radiofrequency Ablation Devices Market, by Product, 2018–2027 (USD Million)
9.1.8.3 Mexico: Radiofrequency Ablation Devices Market, by Application, 2018–2027 (USD Million)
10. Impact Of COVID-19 Pandemic On North America Radiofrequency Ablation Devices Market
10.1 North America: Impact Assessment of COVID-19 Pandemic
11. North America Radiofrequency Ablation Devices Market Industry Landscape
11.1 Overview
11.2 Growth Strategies Done by the Companies in the Market, (%)
11.3 Organic Developments
11.3.1 Overview
11.4 Inorganic Developments
11.4.1 Overview
12. COMPANY PROFILES
12.1 Avanos Medical Inc.
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 Stryker Corporation
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 Boston Scientific Corporation
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 Hologic, Inc.
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 BD
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products and Services
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.5.6 Key Developments
12.6 Merit Medical Systems Inc.
12.6.1 Key Facts
12.6.2 Business Description
12.6.3 Products and Services
12.6.4 Financial Overview
12.6.5 SWOT Analysis
12.6.6 Key Developments
12.7 AngioDynamics Inc.
12.7.1 Key Facts
12.7.2 Business Description
12.7.3 Financial Overview
12.7.4 SWOT Analysis
12.7.5 Key Developments
12.8 Abbott
12.8.1 Key Facts
12.8.2 Business Description
12.8.3 Financial Overview
12.8.4 SWOT Analysis
12.8.5 Key Developments
12.9 AtriCure Inc.
12.9.1 Key Facts
12.9.2 Business Description
12.9.3 Products and Services
12.9.4 Financial Overview
12.9.5 SWOT Analysis
12.9.6 Key Developments
13. Appendix
13.1 About the Insight Partners
13.2 Glossary of Terms
LIST OF TABLES
Table 1. North America Radiofrequency Ablation Devices Market Revenue and Forecasts To 2027, By Product (US$ Mn)
Table 2. North America Radiofrequency Ablation Devices Market Revenue and Forecasts To 2027, By Applications (US$ Mn)
Table 3. North America Radiofrequency Ablation Devices Market, by Product– Revenue and Forecast to 2027 (USD Million)
Table 4. North America Radiofrequency Ablation Devices Market, by Application – Revenue and Forecast to 2027 (USD Million)
Table 5. US Radiofrequency Ablation Devices Market, by Product – Revenue and Forecast to 2027 (USD Million)
Table 6. US Radiofrequency Ablation Devices Market, by Application – Revenue and Forecast to 2027 (USD Million)
Table 7. Canada Radiofrequency Ablation Devices Market, by Product – Revenue and Forecast to 2027 (USD Million)
Table 8. Canada Radiofrequency Ablation Devices Market, by Application – Revenue and Forecast to 2027 (USD Million)
Table 9. Mexico Radiofrequency Ablation Devices Market, by Product – Revenue and Forecast to 2027 (USD Million)
Table 10. Mexico Radiofrequency Ablation Devices Market, by Application – Revenue and Forecast to 2027 (USD Million)
Table 11. Organic Developments Done By Companies
Table 12. Inorganic Developments Done By Companies
Table 13. Glossary of Terms, Radiofrequency Ablation Devices Market
LIST OF FIGURES
Figure 1. Radiofrequency Ablation Devices Market Segmentation
Figure 2. North America Radiofrequency Ablation Devices Market Overview
Figure 3. Disposables Segment Held Largest Share of Product in Radiofrequency Ablation Devices Market
Figure 4. US is Expected to Show Remarkable Growth During the Forecast Period
Figure 5. North America Radiofrequency Ablation Devices Market - Leading Country Markets (US$ Mn)
Figure 6. North America Radiofrequency Ablation Devices Market, Industry Landscape
Figure 7. Radiofrequency Ablation Devices Market - North America PEST Analysis
Figure 8. Radiofrequency Ablation Devices Market Impact Analysis of Driver And Restraints
Figure 9. North America Radiofrequency ablation devices market – Revenue Forecasts and Analysis – 2019- 2027
Figure 10. North America Radiofrequency ablation devices market, By Product 2019 & 2027 (%)
Figure 11. North America Devices Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 12. North America Disposables Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 13. North America Radiofrequency Ablation Devices Market, by Applications 2019 & 2027 (%)
Figure 14. North America Surgical Oncology Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 15. North America Cardiology Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 16. North America Cosmetology Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 17. North America Gynaecology Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 18. North America Pain Management Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 19. North America: Radiofrequency Ablation Devices Market, by Key Country – Revenue (2019) (USD Million)
Figure 20. North America Radiofrequency Ablation Devices Market Revenue and Forecast to 2027 (USD Million)
Figure 21. North America: Radiofrequency Ablation Devices Market, by Country, 2019 & 2027 (%)
Figure 22. US: Radiofrequency Ablation Devices Market – Revenue and Forecast to 2027 (USD Million)
Figure 23. Canada: Radiofrequency Ablation Devices Market – Revenue and Forecast to 2027 (USD Million)
Figure 24. Mexico: Radiofrequency Ablation Devices Market – Revenue and Forecast to 2027 (USD Million)
Figure 25. Growth Strategies Done by the Companies in the Market, (%)
The List of Companies - North America Radiofrequency Ablation Devices Market
- Avanos Medical, Inc.
- Stryker
- Abbott
- Boston Scientific
- Bard (BD)
- Angiodynamic
- Hologic
- Articure
- Merit medical
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