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HEALTHCARE & PHARMACEUTICAL

Gastrointestinal Radiofrequency Ablation Systems Market Segmentation by Type (Benchtop, and Trolley); by Application (Cancerous Growth, Benign Tumor, and Others); and by End-User (Hospitals, Cancer Specialty Clinic, and Others) – Global Demand Analysis & Opportunity Outlook 2031

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IN THE NEWS

  • February 23, 2022: Stryker Corporation announced the complete acquisition of Vocera Communications, a leader in digital care coordination and communication.

  • February 11, 2022: Novartis India Limited, a subsidiary of Novartis AG, to enter a collaborative sales and distribution agreement with Dr. Reddy’s Laboratories, to allow distribution of medicines in India.

Global Gastrointestinal Radiofrequency Ablation Systems Market Highlights over 2022 – 2031

The global gastrointestinal radiofrequency ablation systems market is estimated to grow at a CAGR of ~6% over the forecast period, i.e., 2022 – 2031. Gastrointestinal radiofrequency ablation systems are used to superficially burn the inner lining of the gastrointestinal tract in a controlled manner. This treatment is used to eliminate any abnormal growth in the digestive tract. These growths can be early cancerous or non-cancerous. The growth of the market can be attributed to the growing prevalence of stomach cancer, esophageal cancer, and other tumors in the digestive system. According to the data by the World Health Organization (WHO) over 10 million people died due to cancer in 2020. There were 1.09 million new cases of stomach cancer in the same year. Further, the investment for medical research activities is increasing worldwide, as gastrointestinal disorders have a major economic effect on health care systems, and adversely affect quality of life.

Gastrointestinal Radiofrequency Ablation Systems Market Graph

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The market is segmented by application into cancerous growth, benign tumor, and others, out of which, the cancerous growth segment is anticipated to hold a substantial share in the global gastrointestinal radiofrequency ablation systems market over the forecast period on account of increasing prevalence of cancer across the world, backed by higher exposure to carcinogens on a daily basis.

Major Macro-Economic Indicators Impacting the Market Growth

Healthcare Expenditure per Capita Graph

According to the statistics by the World Health Organization, the global per capita healthcare expenditure amounted to USD 1,064.741 in the year 2017. The worldwide healthcare expenditure per person grew from USD 864.313 in 2008 to USD 1,110.841 in 2018, where the U.S. is the top country that amounted to healthcare expenditure of USD 10, 623.85 per capita in 2018. As of 2018, the domestic general government healthcare spending in the U.S. was USD 5355.79, which grew from USD 3515.82 in 2008. These are some of the factors responsible for market growth over the past few years. Moreover, as per the projections by the Centers for Medicare & Medicaid Services (CMS), the estimated average annual percent change related to National Health Expenditures (NHE) in the U.S. was 5.2% in 2020 as compared to 2019 (4.5%). Furthermore, the National Health Expenditures are projected to reach USD 6,192.5 Billion in 2028, where the per capita expenditure is estimated to touch USD 17,611 in the same year. These are notable indicators that are anticipated to create lucrative business opportunities in upcoming years. 

Global Gastrointestinal Radiofrequency Ablation Systems Market Regional Synopsis

On the basis of geographical analysis, the global gastrointestinal radiofrequency ablation systems market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in Asia Pacific region is estimated to witness noteworthy growth over the forecast period on the back of growing prevalence of cancer, along with improving healthcare system in the region.

The market in the North America region is anticipated to gain the largest market share throughout the forecast period on the back of high prevalence of stomach cancer and tumor in the digestive tract. According to the data by the Center of Disease Control and Prevention (CDC), 14.8 million adults were diagnosed with stomach ulcers.

Gastrointestinal Radiofrequency Ablation Systems Market Share Image

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The global gastrointestinal radiofrequency ablation systems market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook

  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook

  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook

  • Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook

  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook

Market Segmentation

Our in-depth analysis of the global gastrointestinal radiofrequency ablation systems market includes the following segments:

By Type

  • Benchtop
  • Trolley

By Application

  • Cancerous Growth
  • Benign Tumor
  • Others

By End-User

  • Hospitals
  • Cancer Specialty Clinic
  • Others

Growth Drivers

  • Growing Prevalence of Stomach Cancer
  • Rising Investment in Medical R&D Activities

Challenges

  • Difficult Diagnosis of Stomach Cancer
  • Minimally Invasive Nature of Gastrointestinal Radiofrequency Ablation Systems

Top Featured Companies Dominating the Market

  • Medtronic plc
    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis 
  • MISONIX, Inc.
  • Arthrex, Inc.
  • Sonablate Corp.
  • Integra LifeSciences Corporation
  • Stryker Corporation
  • Boston Scientific Corporation
  • Olympus Corporation
  • KLS Martin GmbH & Co. KG
  • Novartis AG

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