Radiofrequency Ablation Devices Market is Expected to Reach USD 1.0 Billion Globally in 2018: Transparency Market Research
Albany, NY (PRWEB) July 22, 2013 -- According to a new market report published by Transparency Market Research, "Radiofrequency Ablation Devices Market for Pain Management- Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2012 - 2018," the global radiofrequency ablation devices market for pain management was valued at USD 296.6 million in 2011, and is expected to grow at a CAGR of 19.4% from 2012 to 2018, and to reach an estimated value of USD 1,027.6 million in 2018.
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Radiofrequency ablation is a minimally invasive surgical procedure involving temperature controlled destruction of dysfunctional or cancerous tissues. Use of this technology for pain management refers to heat destruction of nerves conducting pain impulses, to relieve the patient of chronic pain. The market for RF ablation devices for pain management application is expected to record a high growth rate during the forecast period, owing to the rising demand of minimally invasive surgeries, high efficacy and short duration of the procedure.
The disposables segment accounted for the largest share of the market in 2011 and is expected to be the fastest growing segment during the forecast period. This was followed by the capital equipment segment and the reusables segment in 2011. Geographically, North America accounted for the largest share in 2011, while Asia-Pacific is expected to be the fastest growing region from 2012 to 2018 at a CAGR of 20.6%.
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This market is dominated by a few major players, namely, Cosman Medical, Integra-Radionics, Kimberly Clark-Baylis, NeuroTherm and Stryker Corporation. Of these, Kimberly-Clark accounted for the largest market share in 2011, followed by NueroTherm.
Radiofrequency ablation is a medical procedure involving use of high frequency electromagnetic waves to generate heat which is used to treat a medical condition. This technology finds application in various fields of medicine like tumor ablation in oncology, cardiac rhythm management, endometrial ablation in gynecology, renal denervation for hypertension, cosmetology and pain management. This report focuses on the RF ablation devices market for the pain management application area. The basic principle underlying pain management using RF ablation is heating up the nerves that send pain signals to the affected area so that their impulse transfer activity is hampered.
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Sheela AK, Transparency Market Research, http://www.transparencymarketresearch.com, +1-518-618-1030, [email protected]
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