The Global Radiofrequency Ablation Devices market accounted for $3.12 billion in 2019 and is expected to reach $8.67 billion by 2027 growing at a CAGR of 13.6% during the forecast period.
Some of the key factors propelling market growth are increasing geriatric population, rising occurrence of chronic disorders, and improving healthcare infrastructure.
However, the high cost is the restraining factor for the growth of the market.
Radiofrequency ablation is a minimally invasive procedure, suitable for patients with cardiac diseases, cancer and pain management.
It is being increasingly preferred because of its high efficacy, ease of use, and safety.
By application, the surgical oncology segment is expected to grow at a significant market share during the forecast period as radiofrequency ablation offers fast recovery with lesser side effects for cancer patients.
Based on geography, North America is anticipated to hold considerable market share during the forecast period due to a large number of cancer patients as well as the improvements being made in the healthcare sector.
Some of the key players in Radiofrequency Ablation Devices Market include Stryker Corporation, Medtronic, Baren-Boym, Covidien, ZenoMed, AngioDynamics, Huaian Aofu Surgical Instruments Co Ltd, AtriCure Inc, MedSphere, and Ethicon.
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