The global radiofrequency ablation devices market is projected to be worth USD 11,080.3 million by 2030, growing at a CAGR of 12.6%, according to P&S Intelligence. This growth can be ascribed to the thriving elderly populace, rising healthcare expenditure, growing occurrence of chronic illnesses, and technological improvements.
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Under the component segment, the catheter systems category is projected to experience the fastest development in the industry for RF ablation devices. Such systems include catheters, electrodes, and probes that are injected into the impacted body parts for ablation procedures.
This industry development can be credited to the rising occurrence of chronic illnesses resulting in a huge count of RF ablation treatments.
In the coming few years, the pain management category, on the basis of application, is projected to establish the fastest RF ablation devices industry development. This is because of the growing occurrence of chronic illness and the rising demand for minimally invasive procedures being experienced by healthcare amenities.
The APAC region is projected to experience the fastest development because of the existence of a huge populace of aging, who are more vulnerable to chronic illnesses. For instance, the World Population Ageing 2019 accounts that there were 395.3 million individuals old 65 years or more in Asia in 2019, and the quantity is projected to touch 954.7 million by 2050.
Key industry companies are concentrating on acquiring others to surge their industry share and enlarge their existence throughout the globe. For instance, in 2019, Medtronic Plc announced its plan to acquire Epix Therapeutics Inc., a private medicinal device business, which creates catheter-based temperature-measured cardiac ablation devices. Via this attainment, the company extended its ablation device portfolio, and it is now offering progressive tools to doctors to treat cardiac arrhythmias.
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