Radiofrequency devices are electronic-electrical products that can emit radio frequency energy through radiation, conduction, or other means. In aesthetic practices, radiofrequency (RF)-based devices are used for skin tightening, collagen production, body contouring, and facial rejuvenation procedures to reduce pain by applying electric current to a small area of nerve tissue.
The advancement of radiofrequency technology in healthcare has been hailed as one of the most rapid. Furthermore, the radiation-based devices market growth across the globe is expected to be driven by the rise in physical appearance & growing geriatric population during the forecast period.
The Global Radiofrequency-based Devices Market is projected to grow at a CAGR of around 13.98% during the forecast period, 2022-27. Radiofrequency (RF) devices are commonly used in cosmetic procedures. These devices are used to stimulate collagen production, tighten skin, contour the body by heating & destroying fat cells, and rejuvenate the face. Rising preference for minimally invasive procedures, increasing ability of radiofrequency ablation systems to treat specific sites of tissue without damaging other tissue, increasing urbanization, and rising awareness about radiofrequency ablation devices are the major factors driving the radiofrequency devices market, among others.
|Study Period||Historical Data: 2017-20|
|Base Year: 2021|
|Forecast Period: 2022-27|
|Regions Covered||North America: The US, Canada, Mexico|
|South America: Brazil, Rest of South America|
|Europe: Germany, France, The UK,Italy, Spain,The Netherlands, Switzerland, Rest-of-Europe|
|Asia-Pacific: Japan, China, India, South Korea, Australia, New Zealand, Singapore, Rest-of-Asia-Pacific|
|Middle East & Africa|
|Key Companies Profiled||Abbott Laboratories, AngioDynamics, Inc., Sisram Medical Ltd, AtriCure, Inc., Avanos Medical, Inc., Boston Scientific Corporation, Conmed Corporation, Cutera, Inc., Medtronic, Plc, Merit Medical Systems, Inc., Smith & Nephew, Stryker Corporation, Venus Concept, Inc., Bramsys Indústriae Comércio Ltd, BVM Medical Limited, Diros Technology Inc., and others.|
|Unit Denominations||USD Million/Billion|
Furthermore, rising technological advancements & modernization will create new opportunities for the radiofrequency devices market during 2022-27. A rapid surge in the operation of radiofrequency ablation (RFA) devices for chronic diseases can be attributed to the trend toward minimally invasive medical procedures. The latest technological advancements, and an increased preference for safer & less expensive surgeries, have fueled the growth of radiofrequency-based products. Additionally, the level of competition in the radiofrequency-based devices market has intensified as the number of new entrants has increased.
The advancement of medical technology has played a significant role in the evolution of radiofrequency-based procedures. These advancements have enabled surgeons to perform surgeries with minimal or no invasiveness and the highest accuracy possible. For example, the FDA approved the 'cooled radiofrequency ablation' procedure in 2017, which is non-invasive & a perfect solution for patients suffering from debilitating chronic pain.
The growing preference for minimally invasive and non-invasive procedures is driving the demand for radiofrequency-based treatment devices. Non-invasive treatments are becoming increasingly popular among women and men seeking alternatives to invasive plastic surgery, such as a facelift. Radiofrequency treatment is an alternative that has few side effects, takes much less time, and is not painful or harmful. As a result, becoming one of the most popular treatments among individuals, hence fueling the growth of the Radiofrequency-based Devices Market during the forecast period.
Key Trend in the Market
Increasing Awareness of the Aesthetic Treatment
Skin rejuvenation is a treatment technique used to repair skin damage caused by aging, sun exposure, medical conditions, etc. The consumer's growing concern about improving skin appearance and the signs and symptoms of early aging has resulted in increased awareness of the aesthetic treatment of skin rejuvenation. The radiofrequency facelift may be an appealing option for people in their twenties who are considering anti-aging & maintenance procedures. Hence, the rise in concern over physical appearance, along with innovation in skin care products, would escalate the growth of the radiofrequency-based devices market.
Furthermore, the requirement for the radiofrequency device will surge with the increasing adoption by aesthetic clinics to treat skin diseases like acne, Vitiligo, etc. The growing usage of radiofrequency-based devices in aesthetic treatment to limit aging, pigmentation, etc., has been a key trend in the market, hence encouraging the demand for radiofrequency-based devices in the forthcoming years.
Impact of Covid-19 on the Global Radiofrequency-based Device Market
The outbreak of Coronavirus resulted in global bans that adversely impacted radiofrequency-based devices' business operations. Companies were unable to obtain key components, raw materials, and manufactured products from third parties, as worldwide bans & restrictions were imposed by the respective country governments. The capabilities of the suppliers & third-party manufacturers were limited or stopped by various government regulations.
Hence, COVID-19 had a negative impact on the global radiofrequency-based devices industry. Furthermore, due to the impulsive lockdown, the concerned activities on radiofrequency-based surgeries ceased & were postponed, resulting in a market decline. However, the market has expanded significantly since post-COVID-19 with the revival of surgical activities.
Based on Product:
Among them, Generators dominated the Global Radiofrequency-based Devices market in the historical years and is predicted to follow the same trend in the coming years as well. The growth can be attributed to the increased demand for radiofrequency generators that require one-time capital investment and are a reliable source of energy for delivering high throughput energy to carry out the radiofrequency ablation procedure.
Radiofrequency generators' ability to perform pulsed radiofrequency, standard radiofrequency, and cooled radiofrequency procedures, as well as annuloplasty and intradiscal lesioning, is driving the segment's growth. Further, several companies have launched unique third-generation radiofrequency technology platforms that provide a combination of therapies where radiofrequency runs through three or more electrodes that change their polarity during the treatment, providing a homogeneous coverage and improved thermal effect.
Based on Application:
Of them all, Pain Management is predicted to lead the Global Radiofrequency-based Devices market in the past years & is anticipated to be the same during the forecast period. RFA (Radio Frequency Ablation) 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.
Radiofrequency current heats the small volume of nerve tissue and interrupts pain signals from the surface area to provide long-lasting pain relief. RFA has gained widespread popularity for the treatment of lower back pain, neck pain, osteoarthritis, and rheumatoid arthritis, among others. For instance:
Hence, the rising geriatric population & chronic pain are also the major factors for the fast growth of this segment.
Geographically, the Global Radiofrequency-based Device Market expands across:
Of all the regions, North America has one of the most technologically advanced healthcare systems globally. The region has a large base of early adopters for radiofrequency-based devices and is the leading region within the global radiofrequency-based devices market. The rising demand for minimally invasive procedures, the growing prevalence of chronic diseases, and the presence of multiple established companies in the region are the primary propellers for the region’s growth. For instance:
Moreover, cancer is the leading cause of death in Canada & the second-leading cause after heart disease, in the U.S. Furthermore, according to a study conducted by the National Center for Biotechnology Information (NCBI), titled, 'Navigating the Clinical Translation of Medical Devices: The Case of Radiofrequency Ablation,' in 2018, the radiofrequency ablation was the most preferred treatment for the early-stage hepatocellular carcinoma patients. The North American region is one of the hubs of innovation in the radiofrequency-based devices market.
The expected growth in the radiofrequency-based devices market is attributed to an increased preference for advanced technologies as well as increased healthcare spending. Factors such as large manufacturing capacity, significant investment in research and development activities for medical device innovations, and rising incidences of chronic diseases such as cancer, pain, atrial fibrillation, and uterine fibroids are driving the growth of the market.
Recent Developments by the Leading Companies
Key Driver: Upsurge in the Number of Chronic Diseases Would Drive the Market Growth
Being one of the primary factors leading to the growth in healthcare costs, the increasing number of patients with chronic pain is a strong driver for the growth of the radiofrequency-based devices market. In recent years, the prevalence of chronic pain has been increasing irrespective of age. As per the National Institute of Health’s National Center for Complementary and Integrative Health (NCCIH), around 50 million American adults suffered from chronic pain in 2016. Hence, this increases the demand for efficient and cost-effective pain management devices & radiofrequency ablation (RFA) devices.
RFA is widely used to treat lower back pain, neck pain, osteoarthritis, rheumatoid arthritis, etc. The prevalence of these medical conditions has been increasing rapidly, contributing to the growth of RFA in the pain management segment. Hence, driving the growth of the Radiofrequency-based Devices market.
Possible Restraint: Lack of Skilled Professionals to Deter the Growth of the Market
Lack of experienced or skilled professionals in the healthcare industry emerges as a challenge, as some technological advancement techniques require trained personnel to operate those machines. Because radiofrequency devices are used in the treatment of chronic diseases such as cancer, the risk to the patient's health is high. As there will be temporary burns & swelling while using these machines for treatments, hospitals and clinics must administer skilled professionals, and a lack of competent employees affects patient health and treatment costs.
Thus, hospitals and clinics require trained personnel to operate the machines, as well as ongoing training programs for the staff; otherwise, a lack of competent employees may result in health hazards, contributing to a low adoption rate of this technology among end-users.
Key Questions Answered in the Market Research Report:
Frequently Asked Questions
A. The Radiofrequency-Based Devices System Market is expected to record around 13.98% CAGR during 2022-27.
A. The Pain Management segment would create remunerative prospects for the key companies in the Radiofrequency-Based Devices System Market during 2022-27.
A. The rise in the number of chronic diseases is expected to drive the Radiofrequency-Based Devices System Market during 2022-2027.
A. The top players in the Radiofrequency-Based Devices System Market are Abbott Laboratories, AngioDynamics, Inc., Sisram Medical Ltd, AtriCure, Inc., Avanos Medical, Inc., Boston Scientific Corporation, Conmed Corporation, Cutera, Inc., Medtronic, Plc, Merit Medical Systems, Inc., Smith & Nephew, Stryker Corporation, Venus Concept, Inc., Bramsys Indústriae Comércio Ltd, BVM Medical Limited, Diros Technology Inc., and others.
A. North America is expected to emerge as a promising region for the Radiofrequency-Based Devices System Market during 2022-2027.
A. The lack of skilled professionals and the high cost associated with treatment is the possible restraint affecting the growth of the Radiofrequency-Based Devices System Market during 2022-27.