Latest industry research report on: Radiofrequency ablation is medical process, in which high frequency electromagnetic waves are used to generate heat for the treatment of medical conditions. It has applications in various fields of medicine such as pain management, cosmetology, cardiac rhythm management, oncology, renal denervation for hypertension. In pain management, this technology is used to relieve the patient from chronic pain. This technology involves heat destruction of nerves conducting pain impulses and thus, results into reduction in pain.
The market is expected to grow due to rising demand of minimally invasive surgeries, high efficacy and short duration of the procedure. However, cost associated with this technology and lack of awareness among patients, hinders the growth of this market.
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Global Radiofrequency Ablation Devices Market for Pain Management by Application
Global radiofrequency ablation devices market for pain management by application is segmented into surgical oncology, cardiology and cardiac rhythm management, pain management, gynecology, hypertension and cosmetology. Pain management is the largest application area due to increasing popularity of minimally invasive treatments and growing incidences of chronic pain in patients.
Global Radiofrequency Ablation Devices Market for Pain Management by Products
This market is segmented into Capital equipment, reusables and disposables. Disposables market dominates the overall market due to wider use of these products such as needles and cannulae in the treatment procedures.
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Global Radiofrequency Ablation Devices Market for Pain Management by Geography
Geographically, the market is segmented into North America, Europe, Asia Pacific and LAMEA. North America is the largest market due to the introduction and adoption of this technology in earlier stages and increasing awareness regarding various treatments, which involve use of ablation technology. Asia Pacific is the fastest growing market due to availability of large number of patients, increasing healthcare spending, and increasing preference to ablation technology over surgical procedures.
Competitive Analysis
Cosman Medical, Integra-Radionics, Kimberly Clark-Baylis, NeuroTherm and Stryker Corporation are few major players in this market. Product launch and acquisitions are the major competitive strategies adopted by these players. In January 2014, NeuroTherm announced the launch of NT2000iX Radiofrequency Generator for pain management.
HIGH-LEVEL ANALYSIS
Porter’s five forces model reveals that bargaining power of suppliers is moderate as the market is fragmented into few suppliers with highly differentiated products. High switching cost for these differentiated products lowers the bargaining power of buyers. However, High initial investment is required for the start-up of these device-manufacturing units, which lowers threat from new entrants, the intensity of rivalry is low due to presence of few competitors in the market with differentiated products. Key players and their strategies are identified and analyzed to develop market entry and expansion strategy. Driving and limiting factors affecting the growth of are discussed in the report.
KEY BENEFITS
- In-depth analysis of the global radiofrequency ablation devices market for pain management, which is segmented into application, product and geography, provides better understanding of the market.
- Quantitative analysis of the current market scenario as well as the future estimations through 2013-2020 would help stakeholders understand the future prospects of the market.
- The report analyzes the factors that are driving and limiting the growth of market.
- Analysis of trends in various geographies would help the companies to plan their strategies depending on the geographic region.
- Analysis of key strategies adopted by market players would assist in providing in-depth understanding of the market intelligence.
KEY MARKET SEGMENTS
MARKET BY APPLICATION
- Surgical Oncology
- Cardiology
- Cardiac Rhythm Management
- Pain Management
- Gynecology
- Hypertension
- Cosmetology
MARKET BY PRODUCTS
- Capital Equipment
- RF Generators
- Reusables
- RF Probes
- RF Electrodes
- Disposables
- RF Cannulae
- RF Needles
- RF Single-use Probes
- RF Single-use Electrodes
MARKET BY GEOGRAPHY
- North America
- Europe
- Asia-Pacific
- LAMEA
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