A new research report published by Fior Markets with the title Ablation Devices Market by Technology (Electrical, Radiation, Radiofrequency, Light, Ultrasound, Cryotherapy, Thermal, Microwave, Hydromechanical), Product (Disposable, Capital, Reusable), Application (Oncology, Cardiology, Ophthalmology, Pain Management, Gynaecology, Urology, Orthopaedic Treatment, Cosmetic Surgery), End-User (Hospitals, Ambulatory Surgical Centers, Others), Region, Global Industry Analysis, Market Size, Share, Growth, Trends, and Forecast 2020 to 2027.
The global ablation devices market is expected to grow from USD 14.39 billion in 2019 to USD 32.45 billion by 2027, at a CAGR of 10.7% during the forecast period 2020-2027. North America holds the largest market share, mainly U.S. This growth is attributed to the high disposable income, growing influence of minimally invasive medical devices, rising prevalence of cancer, and various reimbursement policies attracting patients to opt for ablation procedures. The Asia-Pacific market is anticipated to witness significant growth, owing to increasing healthcare expenditure, growing healthcare awareness, and favorable government policies.
NOTE: Our analysts monitoring the situation across the globe explains that the market will generate remunerative prospects for producers post COVID-19 crisis. The report aims to provide an additional illustration of the latest scenario, economic slowdown, and COVID-19 impact on the overall industry.
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Some of the notable players in the market are Abbott Laboratories, Atricure, Boston Scientific, Medtronic Plc, Biosense Webster, Alcon Laboratories, Johnson and Johnson, CONMED, Varian, Angiodynamics, and Elekta AB. In November 2016, HAT500 radiofrequency ablation system in Europe was launched by OSYPKA AG. This radiofrequency ablation system is used for the treatment of ventricular tachycardias.
The technology segment is classified into electrical, radiation, radiofrequency, light, ultrasound, cryotherapy, thermal, microwave, and hydromechanical. The electrical technology is segmented into electrical ablators, argon plasma/ beam coagulator, irreversible electroporation, and electronic brachytherapy. The radiation technology is segmented into brachytherapy, high-dose-rate brachytherapy, pulsed-dose-rate brachytherapy, stereotactic radiotherapy and radiosurgery, image-guided radiation therapy, intensity-molded radiation therapy, stereotactic body radiation therapy, and proton beam therapy. The light technology is segmented into cold laser and excimer laser. The ultrasound technology is segmented into high-intensity focused ultrasound, magnetic resonance imaging-guided focus ultrasound (MRI-FUS), ultrasound surgical systems, and shock wave lithotripsy. The cryotherapy technology segment is segmented into tissue contact probe, cryogen spray probe, and epidermal and subcutaneous cryoablation devices. The radiofrequency technology segment dominated the market in 2019. This growth was due to the increased demand for radiofrequency ablation devices and rise in the geriatric population. The product segment is classified into disposable, capital, and reusable. The disposable segment holds the largest share, owing to the increasing demand from end-users for ablation procedures. The reusable segment is anticipated to witness significant growth, due to reduction in medical waste associated with reusable ablation devices. On the basis of application, the market is segmented into oncology, cardiology, ophthalmology, pain management, gynecology, urology, orthopedic treatment, and cosmetic surgery. The pain management segment holds the largest market share, as it is a minimally invasive invasive procedure, where the nerve fibers carrying pain signals to the brain are destroyed to reduce the pain. The oncology segment is anticipated to witness significant growth, due to the better potential benefits offered by oncology ablation devices compared to other medical treatments of chronic disorders like cancer. The end-user segment includes hospitals, ambulatory surgical centers, and others. The hospital segment holds the largest market share, owing to the greater budget and a large number of ablation procedures that take place in these settings.
The factors influencing the market growth are rising prevalence of chronic pain disorders like osteoporosis, arthritis, improving healthcare infrastructure, growing geriatric population, and rising life expectancy. High cost incurred with these devices, lack of advanced and innovative technologies to treat cancer, and risk associated with ablation procedures are the factors hampering the market growth. Untapped markets in emerging economies and an increase in the level of awareness will provide market growth opportunities.
About the report:
The global ablation devices market is analyzed on the basis of value (USD Billion), volume (K Units), export (K Units), and import (K Units). All the segments have been analyzed on global, regional and country basis. The study includes an analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, and competitor position grid analysis.
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