Gastrointestinal Radiofrequency Ablation Systems Market size is poised to reach USD 14 Billion by the end of 2036, growing at a CAGR of 7% during the forecast period, i.e., 2024 – 2036. In the year 2023, the industry size of gastrointestinal radiofrequency ablation systems was USD 4 Billion. The growth of the market can be attributed to the growing incidence of cancer cases globally. RFA systems may become more popular as cancer rates rise since medical professionals are looking for less invasive ways to treat their patients. Globally over 6 million new instances of cancer will be reported among persons 80 years of age or older in 2050 which is more than 20% of all cancer cases.
In addition to these, factors that are believed to fuel the market growth of gastrointestinal radiofrequency ablation systems include the rise in technological advancements. For instance, RFA technology developments have resulted in the creation of more accurate and effective devices that can provide targeted energy to the damaged tissue with the least amount of harm to healthy tissue nearby. As a result, the method is now safer and more efficient, which may be causing RFA system demand to rise.
Growth Drivers
Challenges
|
Base Year |
2023 |
|
Forecast Year |
2024-2036 |
|
CAGR |
~7% |
|
Base Year Market Size (2023) |
~ USD 4 Billion |
|
Forecast Year Market Size (2036) |
~ USD 14 Billion |
|
Regional Scope |
|
Application (Surgical Oncology, Pain Management, Cardiology & Cardiac Rhythm Management, Cosmetology, Gynecology, and Others)
The surgical oncology segment is estimated to gain the largest market share of 32% by the end of 2036. The growth of the segment can be attributed to the increasing prevalence of cancer across the globe. RFA is frequently utilized in surgical oncology as a complement to surgery, especially for the treatment of colon, liver, and pancreatic cancer. For instance, RFA can be used to either reduce the size of tumors before surgical resection or to remove any malignant tissue that may be left over after surgery. This, as a result, is anticipated to create numerous opportunities for the growth of the segment in the coming years. By 2040, there will be over 16 million cancer-related deaths globally and more than 29 million new instances of cancer annually.
End-User (Hospitals, Cancer Specialty Clinic, and Others)
The hospital segment is expected to hold the largest share of 52% during the forecast period. Hospitals are well-equipped to supply the specific tools and skilled medical personnel that treatments involving the digestive system normally call for. Besides this, if there are any difficulties, patients receiving gastrointestinal RFA operations may need to spend the night in the hospital for observation and monitoring. As a result, it is projected that this would generate a lot of prospects for the segment's growth in the years to come.
Our in-depth analysis of the global market includes the following segments:
|
By Type |
|
|
By Application |
|
|
By End User |
|
North American Market Forecast
The gastrointestinal radiofrequency ablation systems market in North America is projected to hold the largest share of 35% by the end of 2036. The growth of the market can be attributed majorly to the increasing incidence of stomach cancer. There may be a growing demand for therapeutic options, such as RFA, as more cases of stomach cancer are discovered in the region. For instance, in some instances, gastrointestinal RFA may be a good alternative to surgery for the treatment of early-stage stomach cancer. Further, the presence of a strong healthcare network in the region, along with the growing usage of gastrointestinal radiofrequency ablation, is also anticipated to contribute to the market growth in the region.
APAC Market Statistics
The Asia Pacific gastrointestinal radiofrequency ablation systems market is estimated to be the second largest share of 28% by the end of 2036. The growth of the market can be attributed majorly to the improving healthcare system. Access to healthcare is one of the main advantages of improved healthcare systems for people in the region. This may lead to earlier diagnosis of gastrointestinal diseases, such as stomach cancer, and raise demand for RFA systems. In addition, funding for medical research and development may rise in the area as a result of improved healthcare systems. This may result in the development of fresh and ground-breaking medical innovations, such as improvements in gastrointestinal RFA. Further, the increasing prevalence of cancer in the region, along with the growing awareness about gastrointestinal radiofrequency ablation, are also anticipated to contribute to the market growth in the region.
Author Credits: Radhika Gupta, Shivam Bhutani
FREE Sample Copy includes market overview, growth trends, statistical charts & tables, forecast estimates, and much more.
Have questions before ordering this report?