Market Research Reports

Radiofrequency Ablation Devices for Pain Management Market (Capital Equipment, Reusables, and Disposables) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2015 - 2023

65pages
Published Date: 2015-11-20

Description


This report on the radiofrequency ablation (RF) devices for pain management market studies the current and future prospects of the market across the globe. Radiofrequency ablation devices in pain management are majorly used to reduce chronic low-back and neck pain caused due to degenerative joint diseases such as arthritis and other spinal conditions. It is a minimally invasive surgical procedure which involves heating of a small area of nervous tissue leading to blockage of pain signals. This ultimately helps in relieving the patient from chronic pain. The rising prevalence of pain among elderly population, and technological advancements in products are some of the factors driving the radiofrequency ablation devices for pain management market. The market report comprises an elaborate executive summary, which includes a market snapshot that provides information about various segments and sub-segments of the market. It also provides information and data analysis of the radiofrequency ablation devices for pain management market with respect to market segments based on the product type and their geographic analysis.

Based on the product type, the radiofrequency ablation devices for pain management market has been segmented into: capital equipment (RF Generators), Reusables (Probes, Electrodes), and Disposables (Cannula, Needles, Single-use Probes, and Single-use Electrodes). Each of the market segments have been extensively analyzed based on the market related factors such as increasing rate of accidents leading to traumatic injury, aging population, technological advancement, and growing number of disabilities in various geographies. Moreover, historical year-on-year growth have been taken into consideration while estimating the market size. The market size and forecast in terms of USD million for each segment has been provided for the period from 2013 to 2023. The report also provides the compound annual growth rate (CAGR %) for each market segment for the forecast period from 2015 to 2023, considering 2014 as the base year.

Geographically, radiofrequency ablation devices for pain management market has been segmented into five major regions: North America, Europe, Asia-Pacific, Latin America, and Rest of the World. The market size and forecast for each of these regions has been provided for the period from 2013 to 2023, along with their respective CAGRs for the forecast period from 2015 to 2023, considering 2014 as the base year. The report also provides with market size and forecast for major countries in the respective regions. A detailed qualitative analysis of factors responsible for driving and restraining the market growth and future opportunities has been provided in the market overview section. This section of the report also provides with market attractiveness analysis, Porter’s five forces analysis, value chain analysis, pricing analysis and market share analysis by key players, thus presenting a thorough analysis of the overall competitive scenario in the global radiofrequency ablation devices for pain management market.

A list of recommendations has been provided for new entrants as well as existing market players to assist them in taking strategic initiatives to establish a strong presence in the market. The report also profiles major players in the market based on various attributes such as company overview, financial overview, product portfolio, business strategies, and recent developments. Major players profiled in this report include Boston Scientific Corporation, Cosman Medical, Inc., Diros Technology, Inc., Halyard Health, Inc., Medtronic (Covidien), NeuroTherm, Inc. (St. Jude Medical, Inc.), and Stryker Corporation.

The global radiofrequency ablation devices for pain management market is segmented into the following categories:

  • Radiofrequency Ablation Devices for Pain Management Market, by Product
    • Capital Equipment (RF Generators)
    • Reusables
      • Probes
      • Electrodes
    • Disposables
      • Cannula
      • Needles
      • Single-use Probes
      • Single-use Electrodes
  • Radiofrequency Ablation Devices for Pain Management Market, by Geography
    • North America
      • U.S.
      • Canada
    • Europe
      • U.K.
      • Germany
      • France
      • Rest of Europe
    • Asia Pacific
      • China
      • Japan
      • India
      • Australia
      • Singapore
      • South Korea
      • Rest of Asia Pacific
    • Latin America
      • Brazil
      • Mexico
      • Rest of Latin America
    • Rest of the World

Table of Contents



1. Preface
     1.1. Report Description
     1.2. Market Segmentation
     1.3. Research Methodology

2. Executive Summary
     2.1. Global RF Ablation Devices for Pain Management Market Share, by Product, 2014 & 2023 (Value %)
     2.2. Global RF Ablation Devices for Pain Management Market Share, by Geography, 2014 & 2023 (Value %)
     2.3. Radiofrequency Ablation Devices for Pain Management: Market Snapshot 

3. Industry Analysis
     3.1. Introduction
     3.2. Market Dynamics
            3.2.1. Drivers
                     3.2.1.1. Driver 1: Increase in prevalence of pain among elderly people
                     3.2.1.2. Driver 2: Technological advancement in products is fueling market growth
            3.2.2. Restraints
                     3.2.2.1. Restraint 1: Regulatory hurdles delay market approval of new products
            3.2.3. Opportunities
                     3.2.3.1. Opportunity 1: Emerging markets offer immense opportunities
     3.3. Radiofrequency Ablation Devices for Pain Management: Porter’s Five Forces Analysis
     3.4. Market Attractiveness Analysis - RF Ablation Devices for Pain Management Market, by Geography, 2014
     3.5. Competitive Landscape
            3.5.1. Global RF Ablation Devices for Pain Management Market Share, by Key Players, 2014 (%)
     3.6. Value Chain Analysis
     3.7. Pricing Analysis

4. Market Segmentation – By Products
     4.1. Introduction
            4.1.1. Global Radiofrequency Ablation Devices Market, by Application, 2013–2023, (US$ Mn)
            4.1.2. Global RF Ablation Devices for Pain Management Market, by Product, 2013–2023, (US$ Mn)
     4.2. Capital Equipment (RF Generators)
            4.2.1. Global Capital Equipment (RF Generators) Market Revenue, 2015–2023 (US$ Mn)
     4.3. Reusables
            4.3.1. Global RF Ablation Reusables Market Revenue, by Type, 2015–2023 (US$ Mn)
     4.4. Disposables
            4.4.1. Global Disposables Market Revenue, by Type, 2015–2023 (US$ Mn)

5. Market Segmentation – By Geography
     5.1. Introduction
            5.1.1. Global Radiofrequency Ablation Devices for Pain Management Market, by Geography, 2013–2023, (US$ Mn)
     5.2. North America
            5.2.1. North America Radiofrequency Ablation Devices for Pain Management Market, by Country, 2013–2023, (US$ Mn)
     5.3. Europe
            5.3.1. Europe Radiofrequency Ablation Devices for Pain Management Market, by Country, 2013–2023, (US$ Mn)
     5.4. Asia Pacific
            5.4.1. Asia Pacific Radiofrequency Ablation Devices for Pain Management Market, by Country, 2013–2023, (US$ Mn)
     5.5. Latin America
            5.5.1. Latin America Radiofrequency Ablation Devices for Pain Management Market, by Country, 2013–2023, (US$ Mn)
     5.6. Rest of the World
            5.6.1. Rest of the World Radiofrequency Ablation Devices for Pain Management Market, by Country, 2013–2023, (US$ Mn)

6. Recommendations
     6.1. Expansion in Emerging Economies such as Asia Pacific and Africa
     6.2. Enhancing Distribution Networks

7. Company Profiles
     7.1. Boston Scientific Corporation
     7.2. Cosman Medical, Inc.
     7.3. Diros Technology, Inc.
     7.4. Halyard Health, Inc.
     7.5. Medtronic (Covidien)
     7.6. NeuroTherm, Inc. (St. Jude Medical, Inc.)
     7.7. Stryker Corporation

Free Market Analysis


Radiofrequency (RF) ablation is a minimally invasive surgical procedure that involves a local anesthetic and mild sedation. This procedure is primarily used to reduce chronic low-back and neck pain caused due to degeneration of joints (due to arthritis and other spinal conditions). The procedure involves heating a small area of nervous tissue under controlled temperature. This results in blockage of pain signals transmitting from that area, thereby relieving the patient from chronic pain. The global RF ablation devices for pain management market was valued at US$ 358.7 Mn in 2014 and is projected to reach US$ 1,087.9 Mn by 2023 at a CAGR of 12.9% during the forecast from 2015 to 2023. The global radiofrequency ablation devices for pain management market has been broadly segmented on the basis of product type (capital equipment, reusables, and disposables) and geography (North America, Europe, Asia Pacific, Latin America, and Rest of the World).

Over the years, several techniques have been used to selectively destroy nervous tissue in the spinal axis, brain, and other locations in the body. However, the radiofrequency ablation devices have been proven to be the most effective and widely adopted technique to achieve pain relief for longer durations. The revolutionary changes in technology are being reflected through products such as cooled radiofrequency technology platforms which allow creation of larger lesions without excessive heating at the electrode. For instance, COOLIEF Cooled RF System from Halyard Health, Inc. (formerly Kimberly-Clark Health Care) can be used for pain management of hip, knee, cervical, thoracic, sacroiliac, transdiscal, and lumbar pain.

The global radiofrequency ablation devices for pain management market have been categorized into three segments based on type: capital equipment, reusables, and disposables. The capital equipment, i.e., RF generators are utilized to provide heat energy to destroy selective nerves carrying pain impulses from the affected organ. Products in the reusables and disposables segment are priced less in terms of US$, but garner substantial revenue in the global RF ablation devices for pain management market owing to high volume sales. These products are initially provided as part of ablation device package, but can be procured separately.

Geographically, North America held the largest share in the global radiofrequency ablation devices for pain management market in 2014, while Europe was the second largest regional market. One of the major factors responsible for the continued growth in these markets include aging population more susceptible to arthritis. According to a report by the World Health Organization, growth rate of aging population is expected to be higher in developed nations, especially in the U.S., Japan, and several countries in Europe. Hence, the market for RF ablation devices for pain management in North America and Europe will continue to progress at a healthy growth rate during the forecast period from 2015 to 2023. 

Asia Pacific will be the growth driver for global radiofrequency ablation devices for pain management market in the near future. According to the World Bank, India is likely to record the strongest economic recovery among other major developing nations from 2013 to 2016. The country is expected to witness a growth rate of 7.1% in 2016, up 2.3% from 4.8% recorded in 2013. China’s economic growth has been more than 7.5% during 2013 and is expected to continue at a similar rate in future as well. This economic growth is expected to increase the disposable income of the patient population and in turn increase the health care expenditure on novel therapies such as radiofrequency ablation devices. The rapidly aging population in Japan is also likely to contribute to the growth of the market in the region during the forecast period from 2015 to 2023.


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