Radiofrequency Ablation is a minimally intrusive cosmetic surgical treatment, which involves a lightweight, local anesthetic and minimal sedation. This treatment is typically used to treat chronic low back and neck pain. The treatment involves heating up a small portion of nerves under controlled medical and controlled pressure and this help to block pain signals sending from that same area to another area. The growing incidence of cancer is one of the primary factors fueling the growth of the said market. Ablation devices are used in minimally invasive procedures where they use electrical energy and heat to destroy cancer cells. As per the World Health Organization (WHO), in 2018, around 9.6 million deaths were reported due to cancer globally, of which 2.09 million cases were due to lung cancer. As per the same source, in 2018, around 9.6 million deaths were reported due to cancer globally, of which 2.09 million cases were due to lung cancer. Hence, such factors can stimulate the growth of the radiofrequency ablation devices market.
Apart from cancer prevalence, the emergence of advanced next-generation ablation is proving to be critical in the development of the market. Key players operating in the medical devices sector are focused on research and development activities, to come up with advanced ablation products and technologies. Thus, such factors can augment the growth of the radiofrequency ablation devices market. Recently, in November 2020, Abbott Laboratories launched IconicRF Generator for minimally invasive treatment of the management of pain in the nervous system.
When it comes to regional impact, North America seems to be gaining significant traction in the radiofrequency ablation devices market. This is due to high purchasing power and technological advancements in medical devices in the region. On the contrary, Asia Pacific is exhibiting a positive outlook due to improving healthcare infrastructure rising disposable income in the region.
Radiofrequency ablation devices have been used successfully for treating discomfort and pain in the lumbar region, hips, knees, shoulders, and neck. Furthermore, it has also been shown to provide relief from problems associated with osteoarthritis, which affects the knees, hips, and spinal cord. Regardless of these factors, certain challenges remain prevalent in the market. For instance, high costs associated with ablation devices can restrict the potential market growth. Furthermore, unfavorable regulatory scenarios and frequent product recalls can impede the growth of the radiofrequency ablation devices market shortly.