Global Radiofrequency-Based Devices Market: Analysis and Forecast, 2021-2030

Jan 2021| BIS461A| BIS Research

Report Highlights

The global radiofrequency-based devices market is projected to reach $11.22 billion by 2030, reveals the premium market intelligence study by BIS Research. The study also highlights that the market is set to witness a CAGR of 12.81% during the period between 2021 and 2030.

The comprehensive study of the global radiofrequency-based devices market by BIS Research extensively covers the following:

  • Market data on the macroeconomic factors and diseases prevalence that are influencing the market
  • Analysis of key products offered by market players covering more than 250 products (excluding Chinese company products)
  • Pricing data for all the devices and components available
  • Comparison analysis of radiofrequency technology with other ablation and aesthetic treatments
  • Detailed market analysis of radiofrequency-based aesthetic products
  • Detailed analysis of Chinese radiofrequency ablation and aesthetic devices manufacturers
  • Market share analysis for more than 12 devices and components
  • Market share analysis of end users on the country level
  • In-depth research on the market share of leaders and emerging players
  • Detailed patent trend analysis, including the CPC classification and key players
  • Detailed global and regional market share analysis, including the scrutiny of more than 20 countries
  • Study of data of more than 120 companies

Besides these parameters, the study also encompasses the market growth drivers, opportunities, market restraining factors, competition mapping, segmental analysis, and a visual dashboard of 250+ products.

BIS Research study indicates that the increasing number of geriatric population, the growing demand for minimally invasive surgical procedures, and non-ablative procedures for aesthetic treatments, the rising prevalence of chronic disorders, and the clinical efficacy of radiofrequency-based devices, among others, are fueling the growth of the market.

The study highlights the various emerging opportunities, such as growth in emerging nations. The market in developing countries is expected to be propelled by the increasing capability of hospitals and other end users to install and maintain radiofrequency-based devices. Strategies such as mergers, acquisitions, and partnerships, can be adopted by the market players for the development of new products and gain an additional customer base.

The market intelligence by BIS Research additionally throws a spotlight on the key industry trends that have a humungous influence in shaping the industry going forward. Some of these trends include the emergence of minimal invasiveness of the procedures, increasing awareness of patients toward radiofrequency-based devices, exploration of new applications, and several other key trends.

To gain a holistic view of the market, data from different segments of the market has been analyzed minutely. These segments include end user and pricing analysis, types of products offered, technologies used, sources used, applications, and regions. Each of these segments is further categorized into sub-segments and micro-segments to compile an in-depth study.

The end-user and pricing analysis of the global market includes data analysis on the satisfaction level of different devices and consumables (by brand), pricing analysis of preferred devices, accessories & components, and consumables.

To emphasize the emergence of the oncology segment over other segments under the application category of radiofrequency-based devices market in 2021 and 2030, Swati Sood, Lead Analyst – BIS Research, states, The reason for highest market growth of oncology application segment can be attributed to the increase in adoption of radiofrequency ablation over traditional treatments such as chemotherapy, cryoablation, and photodynamic therapy (PTD), among others for the treatment of liver, kidney, lung, breast, thyroid, and pancreatic cancers. High efficacy and reduction in complications after tumor ablation will be the major factors leading to a rise in the adoption of radiofrequency-based devices.

Key insights are drawn from in-depth interviews with the key opinion leaders of more than 20 leading companies, market participants, and vendors. The key players profiled in the report include Abbott Laboratories, AngioDynamics, Inc., ALMA Lasers (Sisram Medical Ltd), ArtiCure, Inc., Avanos Medical, Inc., Boston Scientific Corporation, CONMED Corporation, Cutera, Inc., Medtronic plc, Merit Medical Systems, Inc., Smith & Nephew, Stryker Corporation, Venus Concept, Inc., Bramsys Indústria e Comércio Ltda, BVM Medical Limited, and Diros Technology Inc.

The study also offers strategic recommendations that can help organizations in tracking various products, trends, and technologies that are changing the dynamics of the market. The recommendations by BIS Research also offer bespoke research services to help organizations meet their objectives.

Who should buy this report?

  • Manufacturers of radiofrequency-based devices
  • Companies in the market of radiofrequency-based devices
  • New market entrants in radiofrequency-based devices

How market intelligence on radiofrequency-based devices can add value to an organization’s decision-making process.

  • Aid in product development
  • Help in targeting a segment for launching a new product
  • Offer go to market strategies for the different source type
  • Support in diversifying the product portfolio basis risk and progression of technology (combinational modalities)
  • Help in analyzing technological substitutes and compare the specification
  • Aid in understanding the end-user requirement
  • Assist in exploring the emerging applications of radiofrequency technology
  • Assist in understanding the demand all over the globe
  • Assist in analyzing emerging markets
  • Support in analyzing the competitors’ funding scenario

Insightful Questions Covered to enable Companies take Strategic Decisions

  • What are the key regulations abiding the development, commercialization, and clinical use of radiofrequency-based devices, across different regions?
  • What are the key technological developments on which the current industry leaders are spending their major share of research and development (R&D) investment?
  • Who are the leading players holding significant dominance on the global radiofrequency-based devices market, currently?
  • What are the key strategies incorporated by the players of the global radiofrequency-based devices market, to sustain the competition and retain their supremacy?
  • What is the current annual demand for radiofrequency-based devices across different regions and what is their growth potential in the forecast period?
  • What is the current market potential of radiofrequency technology, and what are the factors deciding the growth potential of radiofrequency technology in the forecast period?
  • What is the current revenue contribution of different product types in the radiofrequency-based devices market, and how would it evolve in the forecast period?
  • What is the current revenue contribution of different applications in the radiofrequency-based devices market, and how would it evolve in the forecast period?
  • Is the overall radiofrequency-based devices market expected to grow or contract in the future? Why?
  • What are the similar technologies available in the market? How do the alternative technologies compare and impact global radiofrequency-based devices market?
  • What are the major technological investments happening in the radiofrequency-based devices market by the key players?
  • Which is the pricing analysis of the radiofrequency-based products and procedures?
  • Which radiofrequency-based devices applications segment is growing and contracting, respectively? Why?
  • What is the current and future market scenario of the global radiofrequency-based devices market?
  • What are the different entities in the supply chain analyses for the radiofrequency-based devices market?

Market Report Coverage - Radiofrequency-Based Devices

Market Segmentation

  • Product – Generators, Electrodes, Applicators, Probes, Cannulas, Needles, Others (Pumps, Pads, Clamps, Forceps, Wires, Sheaths, Footswitches)
  • Application – Pain Management, Aesthetics, Oncology, Cardiology, Others (ENT, Gynecology, Urology, General Surgery)
  • End User – Hospital, Ambulatory Surgical Centers, and Specialty Clinics, Others (Rehabilitation Centers, Nursing Homes, and Research and Academic Institutions)

Regional Segmentation

  • North America – U.S., Canada
  • Europe – Germany, France, Italy, U.K., Spain, Netherlands, Switzerland, Rest-of-Europe
  • Asia-Pacific – Japan, China, India, South Korea, Australia and New Zealand, Singapore, Rest-of-Asia-Pacific
  • Latin America – Brazil, Mexico, Rest-of-Latin America
  • Rest-of-the-World

Growth Drivers

  • Rising Incidence of Chronic Diseases
  • Increase in Geriatric Population
  • Advantages Over Traditional Ablation and Aesthetic Treatment Methods
  • Increasing Awareness Toward Aesthetic Treatments
  • Technological Advancement in the Radiofrequency-Based Devices

Market Challenges

  • High Cost Associated with Radiofrequency-Based Treatments
  • Lack of Skilled Healthcare Professionals
  • Restrictive Reimbursement Landscape

Market Opportunities

  • Development of Low-Cost Radiofrequency-Based Systems
  • Better Healthcare Infrastructure and Increase in Awareness Toward Radiofrequency-Based Devices in Developing Nations

Key Radiofrequency-Based Companies Profiled

  • Abbott Laboratories, AngioDynamics, Inc., ALMA Lasers (Sisram Medical Ltd), ArtiCure, Inc., Avanos Medical, Inc., Boston Scientific Corporation, CONMED Corporation, Cutera, Inc., Medtronic plc, Merit Medical Systems, Inc., Smith & Nephew, Stryker Corporation, Venus Concept, Inc., Bramsys Indústria e Comércio Ltda, BVM Medical Limited, Diros Technology Inc.

Key Questions Answered in this Report:

  • What are the key regulations abiding the development, commercialization, and clinical use of radiofrequency-based devices, across different regions?
  • What are the key technological developments on which the current industry leaders are spending their major share of research and development (R&D) investment?
  • Who are the leading players holding significant dominance on the global radiofrequency-based devices market, currently?
  • What are the key strategies incorporated by the players of the global radiofrequency-based devices market, to sustain the competition and retain their supremacy?
  • What is the current annual demand for radiofrequency-based devices across different regions and what is their growth potential in the forecast period?
  • What is the current market potential of radiofrequency technology, and what are the factors deciding the growth potential of radiofrequency technology in the forecast period?
  • What is the current revenue contribution of different product types in the radiofrequency-based devices market, and how would it evolve in the forecast period?
  • What is the current revenue contribution of different applications in the radiofrequency-based devices market, and how would it evolve in the forecast period?
  • Is the overall radiofrequency-based devices market expected to grow or contract in the future? Why?
  • What are the similar technologies available in the market? How do the alternative technologies compare and impact global radiofrequency-based devices market?
  • What are the major technological investments happening in the radiofrequency-based devices market by the key players?
  • Which is the pricing analysis of the radiofrequency-based products and procedures?
  • Which radiofrequency-based devices applications segment is growing and contracting, respectively? Why?
  • What is the current and future market scenario of the global radiofrequency-based devices market?
  • What are the different entities in the supply chain analyses for the radiofrequency-based devices market?

Market Overview

Reducing the impact of surgical interventions on patients has been the direction of evolution for surgery in the last few decades. Acknowledging the benefits, such as low blood loss, low post-operative recovery time, the lower possibility for post-operative infections and complications, and above all, lower chance of requirement of a revision procedure, minimally invasive surgical technologies have been witnessing impressive growth in demand across the globe.

The growing demand for MIS procedures has consequentially resulted in massive demand for image-guided ablation treatments. One of the predominant image-guided treatments employed in minimally invasive surgical procedures radiofrequency ablation (RFA). RFA has emerged as the most commonly used technology for thermal ablation in bone, kidney, liver, lung, heart, breast, lymph nodes, nerves, and soft tissues, among others.

Radiofrequency-based devices are also used in aesthetic treatments, such as skin tightening, wrinkle reduction, skin, and neck laxity, and body contouring, among others in a non-invasive manner.

Healthcare experts at BIS Research have found radiofrequency to be one of the most rapidly evolving technologies, and the global market for radiofrequency-based devices is predicted to grow at a CAGR of 12.81% over the forecast period of 2021-2030. The market is driven by certain factors, which include the rising incidence of chronic disorders, elevating geriatric population, rising demand for minimally invasive surgical procedures, the increasing amount of healthcare spending in developing economies, and technological advancements in the field of ablation and aesthetic treatments.

There is a significant opportunity for the growth of the global radiofrequency-based devices market during the next ten years. The rise in the geriatric population across the globe, as well as the rise in prevalence of chronic diseases, are driving the growth of RF-based devices for pain management, oncology, and cardiology applications. The adoption of advanced technologies, such as the use of multipolar radiofrequency devices, is also expected to drive patient acceptance for sophisticated ablative and non-ablative procedures.

Additional modalities, such as fractional RF, sublative RF, phase-controlled RF, and combination RF therapies that apply light, massage, or pulsed electromagnetic fields (PEMFs), are contributing to the rapid adoption of radiofrequency in aesthetic treatments.

Within the research report, the market is segmented on the basis of product type, application, end users, and region. Each of these segments covers the snapshot of the market over the projected years, the inclination of the market revenue, underlying patterns, and trends by using analytics on the primary and secondary data obtained.

Competitive Landscape

The key players have predominantly been involved in M&A activities, launched new products, and ventured into synergistic partnerships aimed at either co-developing new technologies or strengthening consumer reach by combining marketing efforts of both the companies.

Companies such as Stryker Corporation, Boston Scientific Corporation, Johnson & Johnson, Becton Dickinson and Company, Smith & Medical, Avanos Medical, YA MAN LTD., Cynosure, Medtronic plc, Venus Concept Inc, and Abbott Laboratories are expected to maintain their market dominance during the forecast period.

On the basis of region, North America holds the largest share of installed base and units sold due to improved healthcare infrastructure, rise in per capita income, and improvised reimbursement policies in the region. Apart from this, Asia-Pacific and Latin America regions are anticipated to grow at the fastest CAGR during the forecast period.

BIS Research is a global B2B market intelligence and advisory firm focusing on those emerging technological trends which are likely to disrupt the dynamics of the market.

With over 150 market research reports published annually, BIS Research focuses on high technology verticals such as 3D Printing, Advanced Materials and Chemicals, Aerospace and Defense, Automotive, Healthcare, Electronics and Semiconductors, Robotics and UAV, and other emerging technologies.

Our in-depth market intelligence reports focus on the market estimations, technology analysis, emerging high-growth applications, deeply segmented granular country-level market data, and other important market parameters useful in the strategic decision-making for senior management.

Why BCC Research?

Every purchase provides access to:

  • Thousands of recently published reports from select publishers
  • Member Discounts of up to 50% on over 20,000 additional reports from all publishers
  • Our analysts and research concierge for all inquiries
CUSTOM RESEARCH

Need a custom data table, graph or complete report? Tell us more.

Contact Us
RELATED REPORTS
Share This Report