A new market report predicts that the market for radiofrequency (RF) Ablation devices that treat chronic pain will grow to $1.03 billion in 2018.
That represents a compounded annual growth rate of 19.4 percent between 2012 and 2018, according to the report issued by Transparency Market Research.
RF ablation, where heat is delivered to particular tissue, is a minimally invasive procedure that has been used to kill cancerous cells for instance. In pain management, the heat is delivered to the nerves producing pain impulses thereby destroying them.
The demand for these products are growing because of heightened demand for minimally invasive procedures as well as their overall good peformance in managing pain and the short duration of the procedure, according to the report.
The fastest growing part of this market is the disposable segment, and will retain that pace between 2012 and 2018. Those are the cannulae, needles electrodes and probes It is also comprises the largest share of the market, followed by capital equipment _ the RF generator - and reusable segment - probes and electrodes.
In terms of geography, Asia will be the fastest growing up until 2018 although North America took up the lion's share of the overall market in 2011.
The no. 1 player in the RF ablation device market for chronic pain is Kimberly Clark, followed NueroTherm.
-- By Arundhati Parmar, Senior Editor, MD+DI
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