The global Ablation Devices market worth US$ 8.3 Bn by 2029, growing at a CAGR of 11.3 %
The factors that have led to this expansion includes growing awareness about minimally invasive procedures or surgeries has led to higher adoption as these procedures are less painful unlike traditional open surgeries, performed as an outpatient procedure and require less cost. Minimally invasive surgeries are considered potential substitutes for conventional therapeutic cancer surgeries, treating tumors of lungs, glands and liver.
In 2017, North America led the market holding a value of xx.x% and it is projected to maintain its dominance in the upcoming years. Key factors that propel the growth include high purchasing power parity, increasing prevalence of cancers in U.S. and Canada, government support for quality healthcare and availability of reimbursement.
For expample, in U.S., the Patient Protection and Affordable Care Act (PPACA), promotes affordability and quality of health insurance and lesser cost of healthcare for government and individuals. Government initiatives like Precision Medicine Initiative creating tailored strategies on distinctive characteristics of diseases, are assisting in enhancing the overall healthcare system condition, thus booming the market growth.
The global ablation devices market share is expected to have highest value and credited to Europe. Europe’s healthcare system got reinforced with higher extent of public funding. Government support to control cancer and presence of target population base helped spur the market growth.
Asia Pacific is projected to experience lucrative growth in the upcoming years owing to improving healthcare infrastructure and supportive government initiatives. Moreover, economic developments in China and India are slated to propel the global ablation devices market share. Dense population base along with low per capita income will led to high demand for affordable treatment options.
Segmentation of global ablation devices market on the basis of technology, categories include thermal and non-thermal ablation. The thermal ablation devices are further segmented into radiofrequency, light, microwave, electrical, radiation, ultrasound, and hydrothermal ablation devices; whereas non-thermal ablation devices are sub-divided as hydromechanical and cryoablation ablation devices. In terms of application, the market is segmented into cancer, urology, ophthalmology, cardiovascular, gynecology, and orthopedics.
By procedures, the ablation devices industry is classified as aesthetics body sculpting, aesthetics skin rejuvenation & tightening, fat reduction, and the reduction in the benign prostatic hyperplasia, appearance of cellulite, laser, transurethral needle ablation, stress urinary incontinence, and other energy-based therapies/ /enucleation of the prostate/ holmium laser ablation, menorrhagia/ endometrial ablation, spinal decompression & denervation, uterine fibroids, atrial fibrillation, varicose veins, and tumor ablation. On the basis of function, the market is divided into conventional and automated/robotic ablation devices.
The key players of global ablation devices market include Medtronic plc, St. Jude Medical, Inc., Boston Scientific Corporation, AtriCure, Inc., BTG plc, AngioDynamics, Inc., Conmed Corporation, Smith & Nephew plc, Olympus Corporation and Johnson & Johnson. Other prominent players of global ablation devices industry include C.R. Bard, Inc., Accuray Incorporated, Varian Medical Systems, Inc., Misonix, Inc., Elekta AB, Hologic, Inc., EDAP TMS S.A., Stryker Corporation, Japan Lifeline Co., Ltd., Merit Medical Systems, Inc., Halyard Health, Inc., Integra LifeSciences Holdings Corporation, Terumo Corporation and Abbott Laboratories.
Ablation Devices Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2029||US$ 8.3 Bn|
|Growth Rate||CAGR of 11.3% during 2021-2029|
|Segment Covered||By Technology, Regions|
|Regions Covered||North America, Europe, Asia Pacific, South America, Middle East and Africa|
|Key Players Profiled||Varian Medical Systems Inc., Biosense Webster, Inc., Elekta AB, Medtronic, Johnson & Johnson Services, Inc., Alcon, Bausch & Lomb Pvt Ltd., EDAP TMS, Halyard, Olympus Corporation, Abbott, AngioDynamics, AtriCure, Inc., Boston Scientific Corporation and CONMED Corporation|
Key segments of ‘Global Ablation Devices Market’
Based on application, the market has been segmented into,
Based on function, the market has been segmented into,
Based on region, the market has been segmented into,
- North America (U.S., Canada)
- Latin America (Mexico, Brazil)
- Western Europe (Germany, Italy, U.K, Spain, France, Nordic countries)
- Eastern Europe (Russia, Poland, Rest Of Eastern Europe)
- Asia Pacific Excluding Japan (China, India, ASEAN, Australia & New Zealand)
- Middle East and Africa (GCC, S. Africa, Rest Of MEA)