The radiofrequency balloon catheter market is anticipated to exhibit growth at a 5.5% CAGR over the assessment period, surpassing USD 50 Billion in 2022.
The rising incidence of atrial fibrillation and pulmonary vein isolation is expected to underpin demand in the market. Additionally, radiofrequency balloon catheters have been proven to be safe and effective, which is propelling their adoption in the healthcare sector.
| Report Attribute | Details |
|---|---|
| Radiofrequency Balloon Catheter Market Size (2022) | USD 50 Billion |
| Radiofrequency Balloon Catheter Market Projected Growth Rate (2022 to 2032) | 5.5% |
Manufacturers are currently developing radiofrequency balloon catheters; the plans for which are in the pipeline. For instance, Biosense Webster, Inc. has developed a multi-electrode radiofrequency balloon catheter for the treatment of symptomatic paroxysmal atrial fibrillation. Such developments are expected to bode well for the market.
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Rising cases of atrial fibrillation are placing a critical burden on the healthcare sector. According to the CDC, in 2030, an estimated 12.1 million people will suffer from atrial fibrillation in the USA
Applications of radiofrequency balloon catheters are expected to increase for the treatment of atrial fibrillation and pulmonary vein isolation. These devices are used to examine atrial fibrillation and are designed to optimize efficacy and safety and reduce treatment time. The radiofrequency energy of the radiofrequency balloon catheter helps the catheters move from the femoral vein to the left atrium and assists in examining atrial fibrillation.
With the advancement of technology and increasing investments in the healthcare sector, the adoption of radiofrequency balloon catheters will rise. In addition to this, the launch of new and advanced radiofrequency balloon catheters will also foster growth in the radiofrequency balloon catheter market
There are certain factors that may hamper the growth of the radiofrequency balloon catheter market. Radiofrequency balloon catheters require a skilled trainer to know and use the devices well since they require more functions to operate the devices.
A lack of skilled professionals and well-trained healthcare professionals may impede the growth of the radiofrequency balloon catheter market. Further, the rate of reproduction is less as compared to a cryoballoon.
The cost of the radiofrequency balloon catheter is high in comparison to other catheters. These factors are expected to limit sales in the market over the forecast period.
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North America is predicted to witness growth at a considerable pace over the forecast period. Due to the rising adoption of new and advanced technologies, manufacturers are launching technologically-advanced radiofrequency balloon catheters.
The USA and Canada have recorded an increase in the incidence of chronic disorders owing to sedentary lifestyles. Additionally, the rising number of patients undergoing surgeries, and growing awareness of minimally invasive surgeries are factors that are anticipated to propel sales.
According to CDC, heart diseases account for one in every four deaths in the USA Each year there are about 659,000 deaths related to cardiovascular diseases in the USA Obesity, poor lifestyle habits such as a poor diet, physical inactivity, excessive alcohol intake, smoking, hypertension, and high cholesterol levels are some factors that cause cardiovascular diseases. About 50% of Americans exhibit at least one of these behavioral risk factors.
According to the IHME report published in 2017, ischemic heart disease was the leading cause of death and disability in Canada. Therefore, the rising incidence of peripheral artery disease, occlusions in blood vessels, and awareness of minimally invasive surgeries may boost demand for catheters in Canada.
Growing awareness among individuals about heart diseases, early diagnosis, and minimally invasive treatment options will underscore the requirement for radiofrequency balloon catheters across the Asia Pacific.
Significant growth can also be noted in the Japan radiofrequency balloon catheter market. This is owing to increased interest and investment in research and development of new healthcare facilities and treatment options. In addition to this, rising cases of atrial fibrillation in the country will augment the adoption of radiofrequency balloon catheters in the forthcoming years.
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Some of the leading players operating in the radiofrequency balloon catheter market are Medtronic, and Biosense Webster, Inc.
These players are investing in research and development activities to incorporate the latest and advanced technologies to improve their product portfolios.
| Report Attribute | Details |
|---|---|
| Growth Rate (2022 to 2032) | 5.5% CAGR |
| Base Year for Estimation | 2021 |
| Historical Data | 2015 to 2021 |
| Forecast Period | 2022 to 2032 |
| Quantitative Units | Revenue in USD Million, and CAGR from 2022 to 2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered |
Indication, End User, Region |
| Countries Covered |
North America (USA, Canada), Latin America (Mexico. Brazil), Western Europe (Germany, Italy, France, United Kingdom, Spain, Nordic countries, Belgium, Netherlands, Luxembourg), Eastern Europe (Poland, Russia), Asia-Pacific Excluding Japan (China, India, ASEAN, Australia & New Zealand), Japan, The Middle East and Africa (GCC Countries, S. Africa, N. Africa) |
| Key Companies Profiled | Medtronic; Biosense Webster, Inc |
| Customization | Available Upon Request |
Radiofrequency balloon catheters are used to examine atrial fibrillation. Increasing investments in the expansion of the healthcare infrastructure across emerging economies will drive sales in the market over the assessment period.
Higher costs of production and a dearth of skilled professionals who are well-versed in the functions of the product are some factors that might hinder the growth in the market.
Key players in the radiofrequency balloon market include Medtronic and Biosense Webster Inc.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2017 to 2021 and Forecast, 2022 to 2032 5. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Indication 5.1. Chronic Haemorrhagic Radiation Proctitis 5.2. Malignant Biliary Strictures 6. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By End User 6.1. Hospitals 6.2. Clinics 6.3. Diagnostics Laboratories 6.4. Others 7. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Region 7.1. North America 7.2. Latin America 7.3. Europe 7.4. Asia Pacific 7.5. Middle East and Africa 8. North America Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 9. Latin America Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 10. Europe Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 11. Asia Pacific Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 12. Middle East and Africa Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 13. Key Countries Market Analysis 14. Market Structure Analysis 15. Competition Analysis 15.1. Medtronic 15.2. Biosense Webster 15.3. Koninklijke Philips 15.4. Abbott Laboratories 15.5. Boston Scientific Corporation 15.6. B. Braun Melsungen 15.7. Terumo Corporation 15.8. Teleflex Incorporated 15.9. Nordson Corporation 15.10. Becton, Dickinson, and Company 16. Assumptions & Acronyms Used 17. Research Methodology
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Radiofrequency Balloon Catheter Market
