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.
Albany, NY -- (SBWIRE) -- 07/05/2016 -- 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.
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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.
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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.
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