28 Jun Cutting-Edge Radiofrequency Ablation Slated to Be a Multi-Billion Dollar Industry
If you haven’t heard of radiofrequency ablation yet, a popular alternative pain treatment offered by Dr. Nikesh Seth at Integrated Pain Consultants, you will soon. By using an electrical current in a non-invasive manner, radiofrequency ablation can effectively reduce pain signals in the body for 6 – 12 months. Considered a semi-permanent solution, and a means of reducing dependency on drugs like opioids, it’s no wonder this technique is considered a state of the art treatment.
Radiofrequency Ablation and Pain Management
In May 2018, Transparency Marker Research (TMR) released a business intelligence report highlighting how radiofrequency ablation is starting to dominate the pain management market—and with good reason. Non-invasive and requiring no drugs, radiofrequency ablation is the epitome of effective alternative pain treatment. TMR estimates that the radiofrequency ablation devices market will be valued at $1,145 million by 2024, an increase of 12.9 percent from its current value. Unsurprisingly, North American and Europe have the highest demand, followed by the Asia Pacific region.
According to the report, one of the biggest driving factors for increased demand is an aging population. Radiofrequency ablation can treat a variety of pains, including joint disorders like arthritis. In 2017, people 60+ made up 13 percent of the global population, and that percentage will just continue to rise. Simultaneously, knowledge about the dangers of medication for pain has drastically risen in recent years. People are seeking out safer alternative therapies and enjoying great success with radiofrequency ablation.
Does this mean the patient cost for radiofrequency ablation will rise along with its popularity? The opposite is more likely to be true. As demand increases, pain clinics will be able to better justify the costs of such devices—not to mention that increased demand will decrease the production costs of these devices. There is also the possibility that alternative therapies will be more widely included in insurance policies (though every patient should closely examine their own policy to determine any coverage).
Radiofrequency Ablation and Other Alternative Pain Management Therapies
We’re on the verge of a new era of healthcare where current alternative treatments might not remain in the “alternative” category for much longer. If you’d like to talk with Dr. Nikesh Seth and get more information on radiofrequency ablation at Integrated Pain Consultants, contact us today.