According to Emergen Research's most recent estimate, the market for radiofrequency-based devices will reach USD 9,595.9 million in 2028 and grow at a 13.2% revenue CAGR over that time. Rising demand for cosmetic procedures is to blame for the steady revenue growth of the global market for radiofrequency-based devices.
The treatment of skin and benefits for enhancing texture and appearance are the main benefits of radiofrequency-based devices. The human body produces new collagen and elastin with the assistance of radiofrequency radiation, and the old, damaged skin cells eventually get replaced. Through radiofrequency treatment, new skin is created that is firmer and tighter, giving it a more youthful appearance. Additionally, radiofrequency-based devices are utilised to shape the body, such as to treat the flanks or the belly.
Spending on cosmetic and aesthetic procedures has been rising in recent years, which has significantly aided industry expansion. The US spent more than USD 16.50 billion on cosmetic surgery and minimally invasive procedures in 2018, a 4% rise over 2017, according to a research by the American Society of Plastic Surgeons.
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Some of the Report's Important Highlights
- To support the ongoing global expansion of the Nimbus RF Multitined Expandable Electrode for chronic pain, Stratus Medical announced in January 2020 that a private placement led by Med Venture Holdings had been completed to purchase the assets of NimbusRF from Biomerics and provide growth capital funding.
- By product type, the needles segment's revenue is anticipated to expand quickly throughout the projection period. RF Micro-needling is a minimally invasive therapy for skin rejuvenation that successfully combines radio frequency energy with the conventional micro-needling technique. By inducing the creation of elastin and collagen, the radiofrequency pulse delivered by the fractional technique promotes skin tightness and reduces acne scarring.
- The market in North America accounted for the greatest revenue share in 2020, which may be due to rising investment in advanced radiofrequency device research and development, the prevalence of chronic diseases increasing, and rising healthcare costs. Additionally, the existence of significant companies in the region's nations is promoting the expansion of the North American market's revenue.
- Some major companies included in the global market report are AngioDynamics Inc., ArtiCure Inc., CONMED Corporation, Smith Nephew PLC, BVM Medical Limited, Abbott Laboratories, Boston Scientific Corporation, Medtronic PLC, Stryker Corporation, and Cutera Inc.
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Emergen Research has segmented the global radiofrequency-based devices market on the basis of product type, application, end-use, and region:
Product Type Outlook (Revenue, USD Million; 2018–2028)
- Radiofrequency Generators
Application Outlook (Revenue, USD Million; 2018–2028)
- Pain Management
End-Use Outlook (Revenue, USD Million; 2018–2028)
- Hospitals Clinics
- Ambulatory Surgical Centers
Regional Outlook (Revenue, USD Million; 2018–2028)
- North America
- Rest of Europe
- South Korea
- Rest of APAC
- Rest of LATAM
- Saudi Arabia
- South Africa Israel
- Rest of MEA
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