Rising Chronic Diseases to Boost Radiofrequency Ablation Devices Market
The global market for radiofrequency ablation devices could attain a CAGR of 11.2% during the forecast period (2018-2023), reports Market Research Future (MRFR).
Growth Drivers and Key Barriers
The worldwide radiofrequency ablation devices market gets a boost from the rising prevalence of chronic and cardiovascular diseases. The preference for minimally invasive surgeries also benefits the market to a great extent. The Centers for Disease Control and Prevention (CDC) predicts that Atrial Fibrillation (AF) could affect close to 17.9 million in Europe by the year 2060, in addition to affecting 12 million people in the United States (U.S.) by the year 2050.
Expanding geriatric population combined with rising life expectancy could stimulate market growth. As older people are highly susceptible to chronic diseases, the demand for effective treatment has subsequently increased. This works in favor of the RF ablation market. The World Health Organization (WHO) asserts that the global population aged 60 years and above could touch the valuation of 2 billion by 2050, which was 900 million in 2015. As the demographic generally has the highest disability rate, it results in high demand for effective care and treatment, which backs the market growth.