Radiofrequency Ablation Devices Market Trends and Forecasts to 2020: Grand View Research, Inc

Global radiofrequency ablation devices market is expected to reach USD 8.85 billion by 2020, according to a new study by Grand View Research, Inc. Increasing prevalence of target disorders related to pain such as BPO (benign prostatic obstruction) and osteoporosis pain and growing global geriatric population base is expected to serve this market as high impact rendering drivers. Technology innovation in each product segment in terms of cost effectiveness and user friendliness is also expected to further market demand.
Surgical oncology dominated the overall market in terms of share and was valued at over USD 1 billion in 2013 majorly on account of high procedure volumes and cancer prevalence. However, the radiofrequency ablation devices for hypertension market on account of increasing demand from patients and subsequent increase in R&D initiatives is expected to grow at the fastest CAGR during the forecast period.

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Further key findings from the study suggest:
• Global radiofrequency ablation devices market was 19,619.0 thousand units in 2013 and is expected to reach 78,899.1 thousand units by 2020, growing at a CAGR of 22.0% over the next six years.
• North America, owing to the presence of high healthcare expenditure, sophisticated healthcare infrastructure and increasing prevalence of pain related problems dominated the overall market in terms of revenue in 2013. As per the Community Chiropractic Centre report, over 31.0% of Americans suffer from back pain problems and such large presence of target patients is expected to boost the demand for radiofrequency ablation devices in the region.
• The Asia Pacific radiofrequency ablation devices market is expected to grow at a CAGR of over 20.0% during the forecast period. Rapidly growing economic conditions and improving healthcare...