As per BIS Research, “Radiofrequency (RF)-based devices are commonly used in ablation procedures to reduce pain by providing electric current to a small area of nerve tissue and in aesthetic practices for skin tightening, collagen production, body contouring, and facial rejuvenation.”
Reducing the impact of surgical interventions on patients has been the direction of evolution for surgery in the last few decades. Acknowledging the benefits, such as low blood loss, low post-operative recovery time, the lower possibility for post-operative infections and complications, and above all, lower chance of requirement of a revision procedure, minimally invasive surgical technologies have been witnessing impressive growth in demand across the globe.
The growing demand for MIS procedures has consequentially resulted in massive demand for image-guided ablation treatments. One of the predominant image-guided treatments employed in minimally invasive surgical procedures radiofrequency ablation (RFA). RFA has emerged as the most commonly used technology for thermal ablation in bone, kidney, liver, lung, heart, breast, lymph nodes, nerves, and soft tissues, among others.
Radiofrequency-based devices are also used in aesthetic treatments, such as skin tightening, wrinkle reduction, skin, and neck laxity, and body contouring, among others in a non-invasive manner.
Healthcare experts at BIS Research have found radiofrequency to be one of the most rapidly evolving technologies, and the global market for radiofrequency-based devices market 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.
Global Radiofrequency-Based Devices Market Segmentation
Key Strategies and Developments
The competitive landscape of the market includes all the key developments and strategies that took place during January 2017-June 2020 in the global radiofrequency-based devices space.
The key developments mapped for the global radiofrequency-based devices market are:
- M&A activities
- Regulatory and legal
- New offerings
- Partnerships, alliances, and business expansions
- Funding activities
Impact of COVID-19 on Radiofrequency-Based Devices Market
Since the outbreak of coronavirus, bans have been implemented and extended globally, thereby severely impacting business operations of radiofrequency-based devices. Companies are unable to obtain key components, raw materials, and manufactured products from third parties, as worldwide bans and restrictions have been imposed by the respective country governments. The capabilities of the suppliers and third-party manufacturers may be limited or stopped by various government regulations.
The impact of coronavirus on economic activities and its effect on manufacturing facilities, supply chain, and distribution networks have been high in 2020. Moreover, it is expected to affect operations in the coming years as well.
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.
Request Sample -https://bisresearch.com/requestsample?id=1052&type=download
Key Questions Answered in this Report:
• What are the key regulations abiding the development, commercialization, and clinical use of radiofrequency-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 radiofrequency-based devices market, currently?
• What are the key strategies incorporated by the players of the global radiofrequency-based devices market, to sustain the competition and retain their supremacy?
• What is the current annual demand for radiofrequency-based devices across different regions and what is their growth potential in the forecast period?
• What is the current market potential of radiofrequency technology, and what are the factors deciding the growth potential of radiofrequency technology in the forecast period?
• What is the current revenue contribution of different product types in the radiofrequency-based devices market, and how would it evolve in the forecast period?
• What is the current revenue contribution of different applications in the radiofrequency-based devices market, and how would it evolve in the forecast period?
• Is the overall radiofrequency-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 radiofrequency-based devices market?
• What are the major technological investments happening in the radiofrequency-based devices market by the key players?
• Which is the pricing analysis of the radiofrequency-based products and procedures?
• Which radiofrequency-based devices applications segment is growing and contracting, respectively? Why?
• What is the current and future market scenario of the global radiofrequency-based devices market?
• What are the different entities in the supply chain analyses for the radiofrequency-based devices market?
For Custom Research Services:https://bisresearch.com/our-offerings/custom-research
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.
BIS Related Studies
Global Radiofrequency-based Devices Market for Lower Back Pain
