With the presence of large players, such as Hologic Corp., Boston Scientific Corp., Cooper Surgical Inc., Ethicon Inc., and Medtronic Plc at the global level, the worldwide market for endometrial ablation demonstrates a highly competitive landscape, finds a new research report by Transparency Market Research (TMR).
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The market players are focusing aggressively on developing their offerings technologically, which is likely to lead to price differentiation, resulting in intense rivalry between these participants in the near future. TMR recommends market players to shift their focus towards mergers and acquisitions over the years to come in order to increase their visibility.
As per TMR’s estimations, the global market for endometrial ablation presented an opportunity worth US$0.8 bn in 2015. Progressing at a CAGR of 5.50% during the period from 2016 to 2024, the market is anticipated to reach US$1.3 bn by the end of the forecast period. The demand for radiofrequency endometrial ablation devices is higher than other devices and are expected to remain so over the next few years.
North America to Continue to Lead Global Endometrial Ablation Market
A geographical analysis of the global endometrial ablation market has also been provided in this research study, according to which, the global market for endometrial ablation has a presence across Europe, North America, Latin America, the Middle East and Africa, and Asia Pacific. The market for endometrial ablation in North America, followed closely by Europe, has acquired the leading position, thanks to a well-established healthcare infrastructure and easy access to healthcare facilities. The regional market is projected to remain dominant throughout the forecast period and will account for a share of nearly 44% by 2024.
Asia Pacific, on the other hand, is anticipated to present highly profitable growth opportunities to market players in the near future due to the significant increase in the prevalence of gynecological disorders in this region. The rising awareness and high unmet medical needs are anticipated to drive the demand for endometrial ablation procedures in Asia Pacific substantially over the years to come. Japan, India, and China are expected to lead the Asia Pacific endometrial ablation market over the next few years, notes the research study.
Rising Prevalence of Gynecology Disorders to Boost Market Growth
“The increasing prevalence of gynecology disorders, such as abnormal vaginal bleeding and polycystic ovarian disease (PCOD), has been fueling the demand for endometrial ablation procedures remarkably across the world, resulting in a significant growth of the global market for endometrial ablation,” states an analyst at TMR. The rising incidence of cervical and endometrial cancer among women, worldwide is another important factor behind the tremendous development of this market.
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In addition to this, the increasing awareness level of consumers concerning the advantages of endometrial ablation procedures, such as minimal invasiveness, cost benefits, and shorter hospital stay, is expected to boost this market considerably in the near future. However, the presence of strict regulatory laws and policies for clinical trials, product designing, and commercialization of endometrial ablation devices may hamper the growth of this market to some extent over the years to come, reports the study.
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