The Global Radio Frequency Generator Market Growth Accelerated By Rising Demand From Medical Industry

 

Radio frequency generators are important medical devices used for various diagnostic as well as therapeutic applications. Radio frequency generators produce alternating electric current oscillating at radio frequencies that are used for applications like radio frequency ablation procedures to treat solid tumors of the liver, kidneys, bones and soft tissues. There is growing prevalence of chronic illnesses like cancer, obesity and cardiovascular diseases worldwide creating significant demand for advanced medical technologies like radio frequency generators.

The Global Radio Frequency Generator Market Size is estimated to be valued at US$ 1.44 Mn in 2024 and is expected to exhibit a CAGR of 5.4% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

The growth of the radio frequency generator market is driven by rising demand from the medical industry. Radio frequency technology has emerged as a viable option for treatment of cardiovascular and cancerous conditions. Radio frequency generators help in performing minimally invasive surgeries with negligible blood loss and shorter hospital stays. They are increasingly being used for pain management therapies and aesthetic applications like skin tightening and wrinkle removal. With growing geriatric population suffering from various ailments, the demand for medical devices has increased significantly. This rising prevalence of chronic conditions is expected to propel the demand for radio frequency generators over the forecast period.

Segment Analysis
The global radio frequency generator market is dominated by the electrosurgical generators sub segment. Electrosurgical generators find widespread usage in minimally invasive surgeries such as laparoscopy and arthroscopy. These generators help seal blood vessels and cut through tissues by utilizing radio frequency energy. Their accuracy and precision make them suitable for complex surgeries. Rising number of MIS procedures being performed is fueling demand for electrosurgical generators in the market.

Key Takeaways

The global radio frequency generator market is expected to witness high growth over the forecast period from 2024 to 2031. Growing incidence of chronic pain and orthopedic diseases is driving the number of surgeries performed annually, thereby augmenting market expansion. The global Radio Frequency Generator Market is estimated to be valued at US$ 1.44 Mn in 2024 and is expected to exhibit a CAGR of 5.4% over the forecast period 2024 to 2031.

Regional analysis: North America is currently the leading regional market for radio frequency generators due to high healthcare spending and prevalence of lifestyle diseases in the region. Furthermore, presence of leading surgical device manufacturers in the US and Canada has ensured timely availability of technologically advanced RF generators in the North American market. However, Asia Pacific market is projected to witness fastest growth during the forecast period. Significant unmet medical needs in populous emerging countries of China and India offer lucrative growth opportunities for market players in the region.

Key players: Key players operating in the radio frequency generator market are Novartis AG, Abbott Laboratories, Mylan N.V., Merck KgaA, Bayer AG, Pfizer Inc., Novo Nordisk A/S, QuatRx Pharmaceuticals, Teva Pharmaceutical Industries Ltd., Amgen, Inc., and Eli Lilly and Company. These companies have established prominent positions in the market through development of innovative and customized RF generators as well as strong distribution networks across major markets.

Get More Insights Here: https://www.newswirestats.com/radio-frequency-generator-market-demand-growth-and-regional-outlook-by-2030/

Related Reports: https://whotimes.com/golden-crunch-symphony-crafting-harmony-in-every-spoonful-of-wholesome-granola-bliss/