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Global Radiofrequency-based Devices Market to Reach $11.22 Billion by 2030 - Key Opportunities and Challenges

Research and Markets
·6-min read

Dublin, Jan. 25, 2021 (GLOBE NEWSWIRE) -- The "Global Radiofrequency-Based Devices Market: Analysis and Forecast, 2021-2030" report has been added to ResearchAndMarkets.com's offering.

Healthcare experts have found radio frequency to be one of the most rapidly evolving technologies, and the global market for radio frequency-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 radio frequency-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 radio frequency 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 radio frequency 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.

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

Market Dynamics

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 Radio frequency-based Devices

Challenges

  • High Cost Associated with Radio frequency-based Treatments

  • Lack of Skilled Healthcare Professionals

  • Restrictive Reimbursement Landscape

Opportunities

  • Development of Low-Cost Radio frequency-based Systems

  • Better Healthcare Infrastructure and Increase in Awareness Toward Radio frequency-based Devices in Developing Nations

Key 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 Industria e Comercio Ltda, BVM Medical Limited, Diros Technology Inc.

Key Questions Answered

  • What are the key regulations abiding the development, commercialization, and clinical use of radio frequency-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 radio frequency-based devices market, currently?

  • What are the key strategies incorporated by the players of the global radio frequency-based devices market, to sustain the competition and retain their supremacy?

  • What is the current annual demand for radio frequency-based devices across different regions and what is their growth potential in the forecast period?

  • What is the current market potential of radio frequency technology, and what are the factors deciding the growth potential of radio frequency technology in the forecast period?

  • What is the current revenue contribution of different product types in the radio frequency-based devices market, and how would it evolve in the forecast period?

  • What is the current revenue contribution of different applications in the radio frequency-based devices market, and how would it evolve in the forecast period?

  • Is the overall radio frequency-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 radio frequency-based devices market?

  • What are the major technological investments happening in the radio frequency-based devices market by the key players?

  • Which is the pricing analysis of the radio frequency-based products and procedures?

  • Which radio frequency-based devices applications segment is growing and contracting, respectively? Why?

  • What is the current and future market scenario of the global radio frequency-based devices market?

  • What are the different entities in the supply chain analyses for the radio frequency-based devices market?

Key Topics Covered

1 Product Definition
2 Scope of Research Study
3 Research Methodology
4 Industry Analysis
5 Competitive Landscape
6 Global Radiofrequency-based Devices Market Sizing and Forecast
7 Global Radiofrequency-based Devices Market (by Product)
8 Global Radiofrequency-based Devices Market (by Application)
9 Global Radiofrequency-based Devices Market (by End-user)
10 Global Radiofrequency-based Devices Market (by Region)
11 Company Profiles

  • Abbott Laboratories

  • AngioDynamics, Inc.

  • ALMA Lasers (Sisram Medical Ltd)

  • AtriCure, 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 Industria e Comercio Ltda

  • BVM Medical Limited

  • Diros Technology Inc.

For more information about this report visit https://www.researchandmarkets.com/r/z1cjgg

Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.

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