According to the latest report published by Credence Research, Inc. “Ablation Devices Market - Growth, Future Prospects & Competition Assessment, 2016-2023,” the global ablation devices market was valued at USD10.6 Bn in 2015 and is expected to reach USD21.3 Bn by 2023, expanding at a CAGR of 9% from 2016 to 2023.
Market Insights
Ablation is a minimally invasive therapeutic procedure used for destruction and dissection of diseased tissue. Ablation is commonly used for the treatment of conditions such as cancer, ophthalmic disorders urologic diseases, gynecological conditions, and orthopedic disorders. Based on device type, this report categorizes ablation devices market into generators, catheters and probes, and disposables and accessories. Generators due to their higher prices and augmenting installation base are the largest device segment in the market.
Browse Full Report Originally Published by Credence Research at https://www.credenceresearch.com/report/ablation-devices-market
The overall ablation devices market is technologically driven. Other major drivers of this market are the growing incidence of chronic target diseases such as cancer and CVD, technological advancements, growing demand for minimally invasive procedures, and rapid growth in the pool of a high-risk geriatric population. Conversely, stringent approval requirements and high cost of equipment are the major set of challenges faced towards the market progression. Ablation devices market is highly competitive with the existence of a multitude of players closely competing to augment their foothold in the market.
Among the energy types used for delivering ablation, radiofrequency is the most sought technology and has the highest number of products commercially available. Other key segments include ultrasound ablation, laser ablation, and electrical ablation. High safety of RF ablation is the key factor contributing to the dominance of RF ablation devices in the global market. However, with the emergence of novel technologies such as cryoablation and microwave ablation, the demand for RF ablation will experience a slight competition, yet not a complete upset in the overall market situation. The growth of the microwave ablation segment is high primarily due to high successful treatment outcomes in cancer and efficiency in producing larger ablation zones against RF ablation.
Ablation devices are widely used in cardiovascular applications, and their demand in cardiology is anticipated to further grow during the forecast period. Domination of this segment is due to perpetual growth in the incidence of cardiovascular diseases such as atrial fibrillation worldwide and the introduction of novel ablation techniques for atrial fibrillation treatment. North America and Europe together are the largest regional markets for ablation devices. Favorable reimbursement scenario, early product introductions, better awareness and high incidence of chronic diseases are the key factors that drive the dominance of North America and Europe on the global front. On the other hand, growing government healthcare expenditure, the rapid evolution of healthcare infrastructure and the proliferation of medical tourism will render swift market growth in the Asia Pacific.
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This market is highly competitive and is characterized by the presence of several existing players and a continuous influx of new market entrants. The existing players are increasingly focusing their growth strategies towards establishing their foothold in emerging markets of the Asia Pacific and the Middle East and Africa.
Key players in the global ablation devices market are but not limited to Medtronic, Inc., St. Jude Medical, Inc., Boston Scientific Corporation, AngioDynamics, Olympus Corporation, Atricure, Smith & Nephew PLC and others.
Report Scope by Segments
By Applications Type
- Tumor Management
- General Surgery
- Cardiology (Cardiac Rhythm Management and Hypertension Treatment)
- Pain Management
- Aesthetics
- Gynecology
- Others
By Device Type
- Generators
- Catheters and Probes
- Disposables and Accessories
By Energy Type
- Electrical
- Radiofrequency
- Cryoablation
- Radiation
- Laser
- Ultrasound
- Microwave
- Hydrothermal
By Geography Segment
- North America (the U.S., Rest of North America)
- Europe (U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, Japan, India, Rest of Asia Pacific)
- Rest of the World (the Middle East & Africa, Latin America)
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