Global Radiofrequency-based Devices Market for Lower Back Pain to Reach $444.4 Million by 2026, Reports BIS Research

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BIS Research

24 Aug, 2018, 12:30 GMT

FREMONT, California, August 24, 2018 /PRNewswire/ --

According to a new market intelligence report by BIS Research, titled "Global Radiofrequency-based Devices Market for Lower Back Pain - Analysis and Forecast, 2018-2026", the global radiofrequency-based devices market for lower back pain is anticipated to grow over $444.4 million by 2026. The radiofrequency-based devices market for lower back pain is projected to grow with an impressive compound annual growth rate (CAGR) of 8.52% between the years 2018 and 2026, aided by the rising prevalence of lower back pain globally.

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Browse 56 market Data Tables and 374 Figures spread through 515 Pages and in-depth ToC on "Global Radiofrequency-based Devices Market for Lower Back Pain"

BIS Research Report: https://bisresearch.com/industry-report/global-rf-based-devices-lower-back-pain-market.html

Lower back pain is one of the most prevalent types of chronic pain and is the leading cause of disability, globally. The global incidence of lower back pain was 539 million in 2015. The annual societal costs of lower back pain in the U.S. was valued at $300 billion in 2012. The massive economic burden of lower back pain was attributed to the complexities involved in diagnosis and treatment of lower back pain. More than 13% of incidence population in 2015 required surgery to overcome the severe pain. Due to the severity of pain, the consumption of painkillers such as opioids has witnessed significant growth in the past decade. The rising concerns regarding the misuse and abuse of opioids have resulted in the emergence of stringent governmental regulations abiding the prescription and sales of opioids. High mortality rate pertaining to opioid use disorders and high economic burden of pain management medication procedures, has significantly elevated the requirement of alternative cost-effective pain management procedures with a reduced risk of mortality, increased efficiency of treatment resulting in long-lasting effect, and reduced risk of pain recurrence. The technological advancements in interventional pain management procedures and neural anatomy have resulted in the emergence of pain management procedures based on radiofrequency alternating current. The specificity and ability of radiofrequency alternating current to treat chronic pain with minimal or no tissue damage have resulted in the massive adoption of pain management procedures based on radio frequency.

According to Manu Koushik, Analyst at BIS Research, "North America is the leading contributor to the global radiofrequency-based devices market for lower back pain. North America radiofrequency-based devices market for lower back pain was valued $85.1 million in 2017 and is expected to reach $165.0 million by 2026, registering a CAGR of 7.63% in the forecast period 2018-2026. The significant demand for pain management procedures among the geriatric population to avoid adverse side effects of drug-based treatment is the prominent factor propelling the growth of the North America radiofrequency-based devices market for lower back pain."

Research Highlights: 

  • The emergence of pain management procedures based on radiofrequency has enabled a reduction in opioid consumption, ensured treatment approaches to pain with no or minimal tissue damage, increased efficiency of treatment by ensuring long-lasting effect, reduced mortality risk and scope for disease recurrence, and alleviated the economic burden associated with opioid use.
  • Despite the remarkable advantages of the pain management procedures based on radiofrequency, the market growth is hampered due to the exorbitant costs of pain management therapies and lack of favorable reimbursement policies.
  • Currently, radiofrequency generators are the leading contributors to the global radiofrequency-based devices market for lower back pain. The contribution of generators was valued at $85.2 million in 2017 and is anticipated to reach $165.6 million by 2026 growing at a CAGR of 7.67% during the forecast period 2018-2026.
  • The rise in the establishment of ambulatory surgery centers and outpatient clinics globally is anticipated to boost the growth of the radiofrequency-based devices market for lower back pain pertaining to the ambulatory surgery centers and outpatient clinics. The global radiofrequency-based devices market for lower back pain, by ambulatory surgery centers and outpatient clinics, is anticipated to witness the highest CAGR of 10.20% in the forecast period 2018-2026.

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This market intelligence report provides a multidimensional view of the global radiofrequency-based devices market for lower back pain in terms of market size and growth potential. This research report aims at answering various aspects of the global radiofrequency-based devices market for lower back pain with the help of the key factors driving the market, threats that can inhibit the overall market growth, and the current growth opportunities that are going to shape the future trajectory of the market expansion.

Furthermore, the competitive landscape chapter in the report explicates the competitive nature of the global market and enables the reader to get acquainted with the recent market activities, such as product launches, regulatory clearance, and certifications, partnerships, collaborations, business expansions as well as mergers and acquisitions, among others. The research report provides a comprehensive analysis of the product sales and manufacturers and trend analysis by segments and demand analysis by regions.

This report is a meticulous compilation of research on more than 20 players in the market ecosystem and draws upon insights from in-depth interviews with the key opinion leaders of more than 15 leading companies, market participants, and vendors. The report also profiles 15 companies including several key players, such as Bramsys Indústria e Comércio Ltda, BVM Medical Limited, CONMED Corporation, Boston Scientific Corporation, Medtronic PLC, Diros Technology Inc., Epimed International, Halyard Health, Inc., joimax GmbH, Merit Medical Systems, Inc., RF Medical Co., Ltd., sfm Medical Devices GmbH, Smith & Nephew plc, Abbott Laboratories, and Stryker Corporation, among others.

Key questions answered in the report: 

• How did radiofrequency ablation technology evolve, and what is its scope in future?

• What are the key developmental strategies that are being implemented by the key players to sustain in this market?

• What are the regulations abiding radiofrequency-based devices for lower back pain management in different regions namely North America, Europe, Asia-Pacific, Latin America, and Middle-East and North Africa (MENA)?

• What are the major market drivers, challenges, and opportunities in the global radiofrequency-based devices market for lower back pain?

• What are the consumers' perceptions and their preference rates for radiofrequency-based pain management procedures in different regions namely North America, Europe, Asia-Pacific, and Middle-East and North Africa (MENA)?

• What are the leading companies dominating the global radiofrequency-based devices market for lower back pain?

• What is the future scope for expansion by the key players of the market in different regions namely North America, Europe, Asia-Pacific, Latin America, and Middle-East and North Africa (MENA)?

• What is the scale of impact on market dynamics by the operations of key players of the market?

• What is the best value chain model adopted by the leading players in the market?

• What is the best supply chain model adopted by the leading players in the market?

• What was the market value of the leading segments and sub-segments of the global radiofrequency-based devices market for lower back pain in 2017?

• How will each segment of the global radiofrequency-based devices market for lower back pain grow during the forecast period and what will be the revenue generated by each of the segments by the end of 2026?

• How will the industry evolve during the forecast period 2018-2026?

• Which geographical location will contribute to the highest sales of the radiofrequency-based devices for lower back pain management during the forecast period?

• What is the scope of expansion in the emerging economies of Asia-Pacific and Latin America?

• What are the consumers' perceptions for different offerings of key players in the market?

About BIS Research:  

BIS Research (Business Intelligence and Strategy Research) is a global B2B market intelligence and advisory firm focusing on those emerging technological trends which are likely to disrupt the dynamics of the market.

With over 150 market research reports published annually, BIS Research focuses on high technology verticals such as 3D Printing, Advanced Materials and Chemicals, Aerospace and Defense, Automotive, Healthcare, Electronics and Semiconductors, Robotics and UAV, and other emerging technologies.

Our in-depth market intelligence reports focus on the market estimations, technology analysis, emerging high-growth applications, deeply segmented granular country-level market data, and other important market parameters useful in the strategic decision-making for senior management.

What distinguishes BIS Research from the rest of the players is that we don't simply provide data but also complement it with valuable insights and actionable inputs for the success of our clients.

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