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Transparency Market Research has recently published a research report that discusses the dynamics and trends prevalent in the global radiofrequency ablation devices for pain management market. The research report, titled “Radiofrequency Ablation Devices for Pain Management Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2015 – 2023,” details the strengths, weaknesses, opportunities, and threats in the overall market with the help of SWOT analysis. Furthermore, the report also uses the Porter’s five forces model to analyze the threat of substitute products or services, the threat of new entrants, the bargaining power of customers, the bargaining power of suppliers, and the intensity of competitive rivalry. The research has been compiled using primary and secondary research methodologies to help the readers make well-informed decisions pertaining to their businesses.
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According to the research report published by Transparency Market Research, the global radiofrequency ablation devices for pain management market was valued at US$358.7 mn in 2014 and is expected to rise at a CAGR of 12.9% from 2015 to 2023 to reach a valuation of US$1.1 bn by 2023. Radiofrequency ablation devices are primarily used for pain management to ease chronic neck and low back pain, which may be a result of degenerative joint diseases caused to the spine or arthritis, amongst others. With the help of RF ablation devices, a minimally invasive surgery is performed to heat a small patch of the nervous tissue to block the pain signals.
The high incidence of pain amongst the elderly population and increasing usage of technologically advanced products are driving the global radiofrequency ablation devices for pain management market. In recent times, chronic lower back pain has become ubiquitous, especially in developed countries, due to sedentary lifestyles that are characterized by lack of exercise. This kind of pain is caused due to dysfunction in muscles, lumbar intervertebral discs, sacroiliac joints, facet joints, fascia, ligaments, or nerve roots. All of these body parts have the capacity of transmitting pain to the lumbar spine. The key pain causing conditions are sacroiliac pain, diabetic neuropathy, complex regional syndrome, and other conditions such as disc herniation.
The global radiofrequency ablation devices for pain management market is segmented on the basis of product and geography. The products available in the market are capital equipment or RF generators, reusables, and disposables. The reusables segment is further divided into probes and electrodes, while the disposables segment is sub-segmented into needles, cannula, single-use probes, and single-use electrodes. Geographically, this market is segmented into Europe, North America, Latin America, Asia Pacific, and Rest of the World.
Some of the important players in the global radiofrequency ablation devices for pain management market are Diros Technology, Inc., Boston Scientific Corporation, Cosman Medical, Inc., Halyard Health, Inc., Medtronic (Covidien), Stryker Corporation, and NeuroTherm, Inc. (St. Jude Medical, Inc.). The report profiles these key players and offers a detailed explanation of the competitive landscape of the global radiofrequency ablation devices for pain management market. Additionally, the research report also mentions the financial overview, research and development activities, branding strategies, management styles, product portfolio, investment outlook, and strategic mergers and acquisitions of these top players.
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