(I-BusinessNews.Com, April 13, 2021 ) Radiofrequency Ablation Devices for Pain Management Market size is estimated to reach $1.04 billion by 2026, growing at a CAGR of 11.8% during the forecast period 2021-2026. Radiofrequency ablation (RFA), which is also known as rhizotomy is a medical procedure in which part of the electrical conduction system of the heart or another dysfunctional tissue is ablated by using heat generated from medium-frequency alternating current. Radiofrequency ablation is conducted in the outpatient setting, using either local anesthetics or conscious sedation anesthesia. RFA devices are generally used to treat severe chronic pain in the lower back, where radiofrequency waves are used to produce heat on specifically identified nerves surrounding the facet joints that are on either side of the lumbar spine. The growing burden of chronic pains, atrial fibrillation (AF), increase in the adoption of minimally invasive procedures across the globe, rising prevalence of Cardiac Arrhythmias coupled with chronic pain conditions such as arthritis are the factors that are set to drive the growth of the global market for the period 2021-2026.
Radiofrequency Ablation Devices for Pain Management Market Segment Analysis – By Product Type
The Radiofrequency Ablation Devices for Pain Management Market based on the Product Type can be further segmented into RF Generators, Reusable Products, and Disposable Products. Disposable Products segment held the largest share in 2020 owing to the reduction in sterilization costs and its ability to allow temperature-controlled lesion generation procedure. The connector cables that are provided for single use probes are long enough to stay out of the sterile field, thus preventing infection, which is driving the growth of the market. RF Generators is estimated to be the fastest growing segment with a CAGR of 12.7% over the period 2021-2026. This is owing to its ability to provide standard sensory and motor nerve stimulation settings for verifying sensory and motor nerve location ensuring patient safety. It also has the ability to transmit a small radiofrequency current through the insulated needle to deactivate the nerve that is responsible for sending the pain signal to the brain. The increase in the product launches by the key players is driving the growth of the Radiofrequency Ablation Devices for Pain Management Market.
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Radiofrequency Ablation Devices for Pain Management Market Segment Analysis – By End User
The Radiofrequency Ablation Devices for Pain Management Market based on the End User can be further segmented into Hospitals, Specialty Clinics, and Ambulatory Surgical Centers. Hospitals segment held the largest share in 2020 owing to the factors such as the increasing number of patients suffering from different types of chronic pains are getting admitted in the hospitals coupled with the favorable reimbursement policies, and availability of technologically advanced products in hospitals is likely to drive the segment growth. Ambulatory Surgical Centers is estimated to be the fastest-growing segment with a CAGR of 12.4% during the forecast period 2021-2026. This is owing to the increasing demand for outpatient surgery centers, as they provide superior healthcare services and affordable treatment for patients.
Radiofrequency Ablation Devices for Pain Management Market Segment Analysis – By Geography
The Radiofrequency Ablation Devices for Pain Management Market based on the Geography can be further segmented into North America (U.S., Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Russia, and Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Australia & New Zealand and Rest of Asia-Pacific), South America(Brazil, Argentina and Rest of South America), and RoW (Middle East and Africa). North America held the largest share in 2020 with 31% of the overall market. The growth in this segment is owing to the increasing occurrences of chronic pain disorders especially among the elderly population in the region. Asia-Pacific is estimated to be the fastest growing segment over the period 2021-2026 owing to the factors such as high prevalence of chronic diseases, emerging applications of radiofrequency ablation technique, and increasing preference for minimally invasive procedures to reduce the chronic pains in the region.
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Radiofrequency Ablation Devices for Pain Management Market Drivers
Increasing Prevalence of Cardiac Arrhythmias
Radiofrequency ablation devices support Cardiac Rhythm Management and destroy the abnormal tissues which carry pain signals to the heart and provide lasting relief for people with chronic pain, especially in the lower back and arthritic joints, which is enhancing the growth of the market.
Growing Adoption of Radiofrequency Ablation Procedure
The increasing adoption of Radiofrequency Ablation Devices is owing to the high availability, easy access, increased awareness, cost-effectiveness, and quick relief provide RF ablation devices for pain management a cutting edge over other treatment options. Moreover, Radiofrequency (RF) catheter ablation has recently emerged as an important treatment option in patients with drug-resistant atrial fibrillation (AF), with a success rate of 75% in experienced centers. This is likely to increase the demand for the use of radiofrequency ablation device for pain management in the market.
Radiofrequency Ablation Devices for Pain Management Market Challenges
Side effects associated with Radiofrequency Ablation
The main side effect of Radiofrequency Ablation is the damage to surrounding blood vessels and nerves during needle insertion resulting in excessive bleeding and irreversible neurologic damage-causing long-term numbness and tingling. They create some discomfort, including swelling and bruising at the site of the treatment. The side-effects associated with radiofrequency ablation and the escalating tendency of reusing and reprocessing devices owing to the high price of new devices are the factors limiting the market growth.
Radiofrequency Ablation Devices for Pain Management Industry outlook:
Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the Radiofrequency Ablation Devices for Pain Management Market. Key companies of this market are Abbott Laboratories, Medtronic, Boston Scientific, Cosman Medical, Halyard Health, Stryker, Cosman Medical, Diros Technology, NeuroTherm, and St. Jude Medical among others.
Acquisitions/Product Launches:
In 2020, Abbott has launched IonicRF generator for non-surgical treatment for nervous system pain management. It is designed for minimally invasive treatment through radiofrequency ablation, using heat to target specific nerves and block pain signals from reaching the brain.
In 2019, Boston Scientific announced that it has acquired Vertiflex, Inc., to treat chronic pain patients with therapies including spinal cord stimulation and radiofrequency ablation.
Key Takeaways
Geographically, North America Radiofrequency Ablation Devices for Pain Management Market accounted for the highest revenue share in 2020 and it is poised to dominate over the period 2021-2026 owing to the increasing occurrences of chronic pain disorders especially among elderly population in the region.
The ability to allow temperature-controlled lesion generation procedure and prevent the chronic pain is driving the growth of the Disposable Products segment.
The side effects associated with Radio Frequency Abrasion is one of the major factors that is said to reduce the growth of the Radiofrequency Ablation Devices for Pain Management Market.
Detailed analysis on the Strength, Weakness and Opportunities of the prominent players operating in the market will be provided in the Radiofrequency Ablation Devices for Pain Management Market report.
Related Reports :
A. Radiofrequency Ablation Devices Market
https://www.industryarc.com/Research/Radiofrequency-Ablation-Devices-Market-Research-511332
B. Pain Management Devices Market
https://www.industryarc.com/Research/Pain-Management-Devices-Market-Research-501264
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