Radiofrequency-Based Devices Market: Current Analysis and Forecast (2022-2028)

Global Radiofrequency-Based Devices Market is expected to grow at a significant rate of around 11% during the forecast period. Radiofrequency devices are commonly used for skin tightening, collagen production and treating chronic diseases such as cancer and cardiovascular diseases. Radiofrequency or RF devices are commonly used in aesthetic practices, skin tightening, collagen synthesis, body contouring by heating and eliminating fat cells, and facial rejuvenation are all possible using RF technology.

The growing adoption of radiofrequency-based devices is mainly driven by the growing prevalence cardiovascular disease and chronic diseases. For instance, according to World Health Organization, more than 17.9 million people die worldwide because of cardiovascular diseases. Furthermore, growing prevalence of chronic pain disorders such as arthritis and osteoporosis is expected to drive the market during the forecast period.

Abbott, AngioDynamics, Sisram Medical Ltd, ATRICURE, INC, Avanos Medical Inc, Boston Scientific Corporation, CONMED Corporation, Cutera, Medtronic, Merit Medical Systems Inc are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.

Insights Presented in the Report:

"Amongst product type, generator category to witness significant share in 2020"

Based on product type, the market is segmented into radiofrequency generators, applicators, electrodes, cannulas, probes, needless, and others. Among them, generators segment is expected to achieve a significant market share of the market for global radiofrequency-based devices in 2020 and is expected to continue doing so in the anticipation period. The rise in demand of radio frequency generators is mainly attributed to its features such as one-time capital investment. Moreover, the growing use radiofrequency-based generators in pain management, is expected to drive the market during the forecast period. A high-frequency generator uses insulated needle electrodes to send small high-frequency currents to the paralyzed nerve, which in turn sends pain signals to the brain this helps technicians to treat the patients.

"Amongst application, the pain management to witness significant share in 2020"

Based on application, the market is segmented into aesthetics, pain management, oncology, gynecology, cardiology, and others. The pain management segment is expected to achieve a significant share in 2020. Radio frequency device is a safe and proven means of treating pain signals, such as those coming from facet joints in the spine, genicular nerves in the knee, and femoral and obturator nerves in the hip. Furthermore, radiofrequency treatment is regarded as highly beneficial for the long-term management of chronic pain. Radiofrequency ablation has numerous advantages, including precision, efficacy, and reproducibility.

"North America to hold a significant share in the market"

In 2021, the North America radio frequency device market has the largest share and is expected to grow significantly during the forecast period. The growth in the region is mainly attributed to the growing research and development activities in the region coupled with the presence of key players in the market. For instance, Lockheed Martin Corporation made a strategic investment in fortify to develop radio frequency devices. Moreover, as large patient pool suffering from chronic pain and the rising demand for cosmetic skin care is expected to drive the market in the region. For instance, according to the American Cancer Society, Inc., in 2018, approximately 1.9 million new cancer cases and more than 600k cancer deaths were estimated to have occurred in North America. The radio frequency-based devices market in Asia-Pacific will likely exhibit a fairly robust revenue CAGR during the forecast year. In addition, a growing population of older people, as well as increased levels of discretionary spending, are variables that are driving market revenue growth.

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