High Global Prevalence of Chronic Pain Boosting Acceptance of Radiofrequency (RF) Ablation Devices for Pain Management
with managing chronic pain is much more when compared to cardiovascular diseases or cancer. There are various measures being taken to eliminate chronic pain and radiofrequency (RF) ablation devices are gaining acceptance as the non-invasive method of ablation for pain management. Diabetic neuropathy, complex regional syndrome, sacroiliac pain, and other specific conditions such as discherniation can be efficiently treated with radiofrequency ablation.
In recent years, awareness about the non-invasive method for pain management has increased. In addition, high availability of variety of products, easy access, cost-effectiveness, and quick relief have subsequently added to the growth of the global radiofrequency ablation devices for pain management market. The augmented adoption rate of radiofrequency ablation procedures is projected to yield US$1,114.5 mn in 2024 from a humble valuation of US$372.7 mn in 2015, with a remarkable 13.0% CAGR, according to findings by Transparency Market Research.
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Apart from being widely adopted and most effective, what other factors drive the radiofrequency ablation devices for pain management market?
Radiofrequency ablation devices have time and again proved to be an effective and extensively adopted technique to achieve pain relief for longer durations, helping the market to grow at a consistent rate. Radiofrequency ablation technique is also gaining prominence due to low post-surgery complications. The likelihood of side effects is low and the span of recovery is also shorter as compared to other methods. Moreover, traditional pain relief procedures such as acupuncture acupressure, and opioids are less effective, thus pushing the market growth.
Also, frequent occurrence of tumors, arrhythmia, and chronic pain across the world is predominantly driving the market of radiofrequency ablation devices for pain management. Medtronic Inc (Covidien), Johnson & Johnson, Boston Scientific, Stryker, St. Jude Medical, Arthrex, and Haylard Health are a few prominent players in the radiofrequency ablation devices for pain management market. A few of these healthcare companies have developed products and solutions to cure and eliminate the existence of chronic diseases. In February 2015, Medtronic plc received the U.S. FDA approval for VenaSeal closure system, a minimally invasive procedure used in the treatment of symptomatic venous reflux.
However, ablation device manufacturers are hesitant to enter the market due to several concerns such as compliance with the law and regulations set by regulatory authorities that are associated with clinical trials, product approval, commercialization, design, and development.
For how long will disposable RF ablation devices continue to hold the dominant share in the radiofrequency ablation devices for pain management market?
Disposable products accounted for over 40% of the global market in 2015. Based on product type, disposable products are more in demand than RF generators and reusable products. High and repetitive usage of cannulae, needles, and other disposables during radiofrequency ablation procedures has successively upped the demand for disposable products.
With an increase in the number of patients with chronic diseases, numerous hospitals perform multiple RF procedures in a single day, and rather than re-sterilizing devices in between procedures, using disposable devices come in handy. Most of the disposable products used in the procedures are generally compatible with generators and electrodes offered by leading manufacturers, thereby increasing their demand and popularity.