Global Ablation Technology Market Highlights over 2021-2029
The ablation technology market is estimated to grow with a moderate CAGR during the forecast period, i.e., 2021-2029. Across the globe, ablation procedures are gaining rapid popularity since they are used in minimally invasive ablation procedures. Lower risk of damage to tissues, less risk of infection, quick recovery, and cost-effectiveness of ablation are some of the primary drivers of this market. Growing adoption of ablation procedures in emerging economies such as India, China, Russia, and Brazil, owing to the presence of high unmet medical needs and rising per capita healthcare expenditure in these countries, is estimated to fuel the market growth. The increasing incidence of chronic diseases such as cancer, cardiovascular diseases, and others also contributes to the market's growth. According to the World Health Organisation data, cancer accounted for nearly 10 million deaths in 2020, and 17.9 million people die each year from cardiovascular diseases.
The market is segmented on type into radiofrequency, laser/light, ultrasound, electrical, cryoablation, microwave, hydrothermal, and others, out of which, the laser segment is anticipated to grab the largest share by the end of 2021 on account of being one of the minimally invasive procedures, the laser ablation technique is comparatively less painful to other surgical treatment options. This technique also causes very little damage to the surrounding tissues compared to other techniques. Moreover, technological developments are expected to drive the global laser ablation technology market.
Based on application, the cardiovascular disease treatment segment is projected to grow with a significant CAGR over the forecast period. The rising incidence of atrial fibrillation across the globe, coupled with the development of novel ablation technologies for the treatment of atrial fibrillation, is the major factor driving the market's growth.
Global Ablation Technology Market Regional Synopsis
Geographically, the market is segmented into North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa region. The Asia Pacific market is predicted to grow at the highest CAGR over the forecast period due to various factors such as growing awareness, growing population, increasing income, eating habits, changing lifestyles, etc. Furthermore, North America overtops the overall market in terms of market share due to the growing demand for minimally invasive procedures and increasing usage rates of ablation procedures. Along with this, North America also leads in terms of ongoing clinical trials, which is also expected to contribute to the region's market growth. As per the analysis of Centres for Disease Control and Prevention, U.S, in 2018, Atrial Fibrillation was mentioned on 175,326 death certificates and was the underlying cause of death in 25,845 of those deaths.
The global ablation technology market is further classified on the basis of region as follows:
- North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
- Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Opportunity Analysis
- Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth & Opportunity Analysis
Market Segmentation
Our in-depth analysis of the global ablation technology market includes the following segments:
By Type
- Radiofrequency
- Laser/light
- Ultrasound
- Electrical
- Cryoablation
- Microwave
- Hydrothermal
- Others
By Application
- Cardiovascular disease treatment
- Ophthalmologic treatment
- Pain management
- Gynecological treatment
- Orthopedic treatment
- Others
Growth Drivers
- Emergence of Next-Generation Ablation Products and Technologies
- Rising Incidence of Cancer and Cardiovascular Diseases
Challenges
- Healthcare Cost-Containment Measures
- Unfavorable Regulatory Scenario
Top Featured Companies Dominating the Ablation Technology Market Market
- Medtronic PLC
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- Biosense Webster, Inc.
- St. Jude Medical, Inc.
- Boston Scientific Corporation
- Angiodynamics, Inc.
- Atricure, Inc.
- Conmed Corporation
- Olympus Corporation
