Global Radiofrequency-Based Devices Market (By Product, Application, End User, Region), Key Company Profiles, Financial Insights, Recent Developments - Forecast to 2030

Global Radiofrequency-Based Devices Market (By Product, Application, End User, Region), Key Company Profiles, Financial Insights, Recent Developments - Forecast to 2030

The global radiofrequency-based devices market is predicted to reach US$ 10.7 Billion by 2030. Radiofrequency-based devices refer to a category of medical devices that use radiofrequency energy for various therapeutic and diagnostic purposes. These devices are used in a range of medical procedures, including cosmetic treatments, pain management, tumor ablation, and cardiac rhythm management. The growing prevalence of chronic diseases such as cancer, cardiovascular diseases, gynecological disorders, diabetes, and several others is a key factor driving the industry growth. As the global population ages, the incidence of such conditions increases. According to the Centers for Disease Control and Prevention, by 2022, about 60% of American adults had a chronic disease, and 40% had two or more. This is significant, as chronic conditions often demand prolonged, repetitive treatments, where radiofrequency-based devices play a crucial role due to their minimally invasive nature. Furthermore, the market is witnessing the integration of radiofrequency technology with other treatment modalities, such as ultrasound and laser, for enhanced efficacy and efficiency. These advancements have significantly improved the quality of healthcare provided in the healthcare settings.

Recent Developments

In June 2023, Avanos Medical Inc. entered into a definitive agreement to acquire Diros Technology Inc., a leading manufacturer of innovative radiofrequency (RF) products used to treat chronic pain conditions.
In August 2022, Medtronic plc completed the acquisition of Affera, Inc. This acquisition expands the company's cardiac ablation portfolio to include its first-ever cardiac mapping and navigation platform that encompasses a differentiated, fully integrated diagnostic, focal pulsed field and radiofrequency ablation solution.
In February 2022, Boston Scientific Corporation acquired Baylis Medical Company Inc. The acquisition allows Boston Scientific to integrate the Baylis platforms with their existing electrophysiology and structural heart offerings, further expanding their position within the highest growth cardiology markets.

By Product: Global Radiofrequency-Based Devices Market - Key Takeaways


Based on product type, the radiofrequency-based devices market is dominated by the generators segment. The growing use of radiofrequency-based generators in pain management, is expected to drive the market growth over the forecast period.
Radiofrequency probes are commonly used in minimally invasive procedures such as radiofrequency ablation (RFA), which is used to treat various medical conditions. RF probes are also used in neurosurgery, cardiology, pain management, and other medical specialties. RF probes are extensively used in clinics, hospitals, and ambulatory surgery centers (ASCs) due to their diverse applications.
Needles segment is expected to register a rapid growth over the forecast period.
Radiofrequency electrodes have emerged as a pivotal innovation in medical and technological landscapes. RF electrodes utilized in various fields including pain management, cardiology, and aesthetics, harness radiofrequency waves to deliver targeted thermal energy.

By Application: Global Radiofrequency-Based Devices Market - Key Takeaways


On the basis of application, pain management segment accounted for largest revenue share in 2022. Radiofrequency device is a safe and proven means of treating pain signals, such as those coming from facet joints in the spine, genicular nerves in the knee, and femoral and obturator nerves in the hip.
Aesthetics segment accounted for second-largest revenue share in 2022. Increasing expenditure on cosmetic and aesthetic procedures is propelling growth of the market.
The rising incidence of cancer and increasing use of radiofrequency-based devices in the field of oncology is another key factor fueling the market growth.
Cardiology segment is expected to register fastest growth over the forecast period.

By End User: Global Radiofrequency-Based Devices Market - Key Takeaways

Hospitals held majority share of the radiofrequency-based devices market, and is expected to dominate over the forecast timeframe owing to increase in the number of hospital admissions.
Specialty clinics recorded nearly a quarter share of the total radiofrequency-based devices market, driven by the rising adoption of aesthetic or cosmetic procedures in these settings.
Ambulatory surgical centers provide cost-effective services and a convenient environment that is less stressful than what many hospitals can offer.

By Region: Global Radiofrequency-Based Devices Market - Key Takeaways

North America accounted for largest share of the radiofrequency-based device market and is likely to maintain its dominance over the forecast period.
Europe is the second largest region for radiofrequency-based device market.
Asia Pacific is likely to witness fastest growth over the forecast period, owing to presence of large patient pool suffering from chronic pain, the rising prevalence of chronic diseases, and growing demand for aesthetics and cosmetic skin care..
Latin America and Middle East and Africa are competing closely to grab maximum share of the total radiofrequency-based devices market.

iGATE RESEARCH report titled “Global Radiofrequency-Based Devices Market (By Product, Application, End User, Region), Key Company Profiles, Financial Insights, Recent Developments - Forecast to 2030” provides a comprehensive analysis of the Global Radiofrequency-Based Devices Market.

This 174 Page report with 70 Figures and 8 Tables has been analyzed from 9 View Points:

1) Global Radiofrequency-Based Devices Market and Forecast (2016 - 2030)
2) Global Radiofrequency-Based Devices Market Share and Forecast (2016 - 2030)
3) By Product - Global Radiofrequency-Based Devices Market and Forecast (2016 - 2030)
4) By Application - Global Radiofrequency-Based Devices Market and Forecast (2016 - 2030)
5) By End User - Global Radiofrequency-Based Devices Market and Forecast (2016 - 2030)
6) By Region - Global Radiofrequency-Based Devices Market and Forecast (2016 - 2030)
7) Global Radiofrequency-Based Devices Market - Key Company Profiles
8) Global Radiofrequency-Based Devices Market - Recent Developments
9) Global Radiofrequency-Based Devices Market - Growth Drivers & Challenges

By Product - Global Radiofrequency-Based Devices Market and Forecast

Generators
Radiofrequency Probes
Electrodes
Cannulas
Needles
Others

By Application - Global Radiofrequency-Based Devices Market and Forecast

Aesthetics
Pain Management
Oncology
Gynecology
Cardiology
Others

By End User - Global Radiofrequency-Based Devices Market and Forecast

Hospitals
Ambulatory Surgical Centers
Specialty Clinics
Others

By Region - Global Radiofrequency-Based Devices Market and Forecast

1. North America
2. Europe
3. Asia Pacific
4. Latin America
5. Middle East & Africa

Global Radiofrequency-Based Devices Market - Key Company Profiles, Recent Developments, Financial Insights

1. Abbott Laboratories
2. ALMA Lasers (Sisram Medical Ltd)
3. AtriCure, Inc.
4. AngioDynamics, Inc.
5. Avanos Medical, Inc.
6. Boston Scientific Corporation, Inc.
7. Cutera, Inc.
8. CONMED Corporation
9. Medtronic plc
10. Merit Medical Systems, Inc.
11. Stryker Corporation
12. Smith & Nephew plc
13. Venus Concept, Inc.
14. Diros Technology Inc.

Data Source

iGATE RESEARCH employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports. This report is built by using data and information sourced from Proprietary Information Database, Primary and Secondary Research Methodologies, and In house analysis by iGATE Research dedicated team of qualified professionals with deep industry experience and expertise.

Research Methodologies

Primary Research Methodologies:

Questionnaires, Surveys, Interviews with Individuals, Small Groups, Telephonic Interview, etc.

Secondary Research Methodologies:

Printable and Non-printable sources, Newspaper, Magazine and Journal Content, Government and NGO Statistics, white Papers, Information on the Web, Information from Agencies Such as Industry Bodies, Companies Annual Report, Government Agencies, Libraries and Local Councils and a large number of Paid Databases.