LONDON--(BUSINESS WIRE)--Technavio market research analysts forecast the global radiofrequency ablation devices market to grow at a CAGR of close to 9% during the period 2018-2022, according to their latest report.
In this report, Technavio highlights the increasing M&A activity as one of the key emerging trends in the global radiofrequency ablation devices market. M&A improve the product portfolio of players, which results in product expansion and differentiation. Major players in the market are acquiring small players for their technologies, products, and partnerships with distributors. Such initiatives will change the market dynamics and consolidate the position of the acquiring companies.
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In this report, Technavio analysts highlight the use of M2M technology for remote patient monitoring as a key factor contributing to the growth of the global radiofrequency ablation devices market:
Increasing prevalence of chronic disease and growth of geriatric population
The prevalence of chronic diseases is increasing among the geriatric population due to declining mortality rates. Countries such as Germany, 840,319 people above the age of 65 consulted a general physician. Hypertension was the most common cause of these visits. Stroke was the least common cause. More than one out of two people who visited a general physician had three chronic diseases.
According to a senior analyst at Technavio for cardiovascular diseases, “The sedentary lifestyle and changing eating habits of people make susceptible to chronic diseases such as heart disease, stroke, cancer, arthritis, and chronic pain such as low back pain and knee pain. According to research analysis, majority of the people with chronic pain have pain in different areas. In countries such as the US, the most common types of pain among adults is low back pain, knee pain, shoulder pain, finger pain, and hip pain. Radiofrequency ablation devices are used to treat these chronic diseases. Hence, the increasing prevalence of chronic diseases and the growth of the geriatric population will drive the growth of the global radiofrequency ablation devices market.”
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Global radiofrequency ablation devices market segmentation
This market research report segments the global radiofrequency ablation devices market into the following products (radiofrequency ablation systems, radiofrequency ablation catheters, and radiofrequency ablation consumables), applications (oncology, cardiovascular, gynecology, pain management and dermatology, and cosmetology), end-users (hospitals, ASCs, and physician offices), and key regions (the Americas, APAC, and EMEA).
Of the three major products, the radiofrequency ablation consumables segment held the largest market share in 2017, accounting for nearly 47% of the market. The market share for this product is expected to increase nearly 6% by 2022. The fastest growing product is radiofrequency ablation catheters, which will account for nearly 16% of the total market share by 2022.
The Americas was the leading region for the global radiofrequency ablation devices market in 2017, accounting for a market share of nearly 44%. By 2022, APAC is expected to register the highest growth of nearly 4%.
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