NEW YORK, May 22, 2020 /PRNewswire/ -- Asia Pacific
Radiofrequency Ablation Devices Market Forecast to 2027 - Covid-19
Impact and Regional Analysis by Product and Application
Read the full report:
https://www.reportlinker.com/p05894520/?utm_source=PRN
The Asia Pacific radiofrequency
ablation devices market is anticipated to reach US$ 1,705.06 Mn by 2027 from US$ 699.62 Mn in 2019. The market is projected to
grow at a CAGR of 12.1% from 2020 to 2027. In a radiofrequency
ablation procedure, the physicians use a device that transmits the
energy of radiofrequency waves and destroys the target tissue. This
technology has been widely in use to treat solid tumors,
arrhythmias, uterine fibroids, and other medical conditions. The
radiofrequency ablation devices market growth is primarily
attributed to the rising prevalence of chronic diseases, emerging
applications of radiofrequency ablation technology, and increasing
preference for minimally invasive procedures in Asia Pacific. However, side-effects associated
with radiofrequency ablation, and high tendency of reusing and
reprocessing the devices due to the high cost of new devices hamper
the growth of the market in this region. Additionally, business
expansion in emerging markets in Asia
Pacific, and consistent radiofrequency ablation product
launches and approvals provide opportunities to the market player
to grow their presence in this region during the forecast
period.
Increasing the prevalence of chronic pain conditions such as
arthritis, combined with osteoporosis, is likely to drive the
market development in the coming years.Chronic pain is long-lasting
and is resilient to most medical treatments; it might lead to
severe physiological and mental problems that affect the quality of
life.
In 2008, the prevalence of arthritis in China was 31.4% of the total population in
middle-aged people or older. Moreover, as per Chinese Census 2010,
there were 526 million cases of atrial fibrillation in China. The growing geriatric population,
coupled with rising life expectancy, is expected to boost the
healthcare sector growth in the region during the forecast period.
Geriatric people are more prone to chronic diseases, driving the
demand for highly effective treatments, such as RF ablation. For
instance, ~40% people in Japan are
likely to age more than 65 by 2060. The demographics tend to have
maximum need for adequate care and treatment due to highest
disability rate, which is anticipated to propel the growth of the
market for new therapeutic technologies such as radiofrequency
ablation. Pain leads to severe complications if proper care or
treatment is not taken for a long time. Highly adverse effects and
lower efficiency of alternate pain relief procedures and
therapeutics such as opioids, acupuncture, and acupressure have led
to the surge in the adoption of radiofrequency ablation devices.
Hence, high availability, easy access, increased awareness,
cost-effectiveness, and quick relief provide RF ablation devices a
cutting edge over other treatment options for pain management.
Radiofrequency ablation is an effective treatment for chronic pain
management and small cancers, and the procedure can be repeated in
case of reoccurrence of cancer.Rising chronic pain disorders such
as arthritis and osteoporosis, coupled with improving healthcare
infrastructure, would propel the market growth in the coming
years.
The high success rate of radio frequency ablation in cancer
treatment and advantages offered (such as generation of larger
ablation zones and less impact of the heat sink effect) are the
major factors contributing to the growth of radiofrequency ablation
devices market. The radiofrequency ablation technology has gained a
lot of attention in applications such as pain management and
dermatology, and it is also widely being used in gynecology to
treat uterine fibroids.
In 2019, the disposables segment accounted for a larger share of
the radiofrequency ablation devices market in Asia Pacific, based on product.Disposables
help in transmitting the electric current to the target tissue and,
hence, are the crucial component of the radiofrequency ablation
procedure.
In addition, advanced technology with the capability of creating
large regions of coagulative necrosis in a controlled manner, with
the positive effects of low toxicity and minimized risk of
complication is driving the growth of the disposable radiofrequency
ablation devices market. Moreover, the market players are
developing innovative products to reduce errors and carry out the
procedure efficiently.
In 2019, the surgical oncology segment held the largest share of
the Asia Pacific radiofrequency
ablation devices market, by application, in 2019. However, the
cardiology segment is estimated to register the highest CAGR of
12.8% in the market during the forecast period. The RFA technology
has been widely used in the surgical oncology. It has been widely
in use in the surgical oncology; the procedure involves using heat
and electrical current to destroy cancer cells. The technology is
also used to treat Barrett's esophagus, which is the precancerous
condition of the esophagus. Thus, wide application of RFA in
surgical oncology and increasing number of cancer patients is
contributing a significant market share to the radiofrequency
ablation devices market, and the trend expected to continue during
the forecast period.
The countries in Asia Pacific are
witnessing huge challenge currently due to growing COVID-19
infection spread.The healthcare sectors in respective countries
have been hit adversely due to this outbreak, especially as a
result of collapsing economies.
Restrictive measures have been taken to control the spread of the
COVID-19; however, with the most focus on the management of this
disease, the treatment of patients with cancer, and cardiologic and
gynecological conditions has ultimately become the second priority,
which is putting the demand for radiofrequency ablation procedures
down.
A few of the significant secondary sources studied for preparing
the Asia Pacific radiofrequency
ablation device market report are the World Health Organization
(WHO), Centers for Disease Control and Prevention (CDC), Chinese
Census, Malaysia Healthcare Travel Council and National Family
Health Survey (India).
Read the full report:
https://www.reportlinker.com/p05894520/?utm_source=PRN
About Reportlinker
ReportLinker is an award-winning market research solution.
Reportlinker finds and organizes the latest industry data so you
get all the market research you need - instantly, in one place.
__________________________
Contact Clare: clare@reportlinker.com
US: (339)-368-6001
Intl: +1 339-368-6001
View original
content:http://www.prnewswire.com/news-releases/the-asia-pacific-radiofrequency-ablation-devices-market-is-anticipated-to-reach-us-1-705-06-mn-by-2027-from-us-699-62-mn-in-2019--the-market-is-projected-to-grow-at-a-cagr-of-12-1-from-2020-to-2027--301064566.html
SOURCE Reportlinker