Ophthalmology segment would be the most lucrative segment for investment in the ablation devices market for the new as well as existing players. This is because there are numerous players, products, and patents already available in the market for cancer and cardiology ablation devices, making the competitive rivalry intense. However, ophthalmology segment has untapped areas that could provide great opportunities for new entrants as well as existing players.
Ablation Devices Market Report, published by Allied Market Research, forecasts that the global market is expected to garner $6,658 million by 2022, registering a CAGR of 11.7% during the period 2016-2022. Thermal ablation devices segment is estimated to dominate the market throughout the analysis period. About two-thirds of the world ablation devices market share was captured by cardiovascular and cancer segment in 2015.
The ablation devices market is growing at the steady pace due to the growth in incidence of cardiac diseases such as atrial fibrillation (AF), atrial flutter, and cardiac arrhythmias. Hence, different mid-to-large sized companies have augmented research and development (R&D) investments in this market. Moreover, even smaller companies have shifted their focus and increased their R&D activities, which has led to a surge in product developments (approvals & launches), and in turn contributing to the growth of ablation devices industry. For instance, Medtronic launched the new Barrx 360 Express radiofrequency ablation balloon catheter in April 2016, which is a self-adjusting circumferential RFA catheter to remove diseased tissues. This catheter is anticipated to aid the treatment of Barretts esophagus.
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Acquisition is another key strategy that has been adopted by key companies. Due to the presence of numerous small-sized to mid-sized companies, the larger companies acquire smaller and emergent companies to curb the competition and increase their revenue. For instance, Galil Medical, a manufacturer of cryoablation systems and needles, was acquired by BTG plc on 6th May 2016 to expand BTGs product portfolio and market share.
The report covers the analysis of ablation devices market share by technology, application, procedure, and geography. Based on technology, the market is broadly categorized into thermal and non-thermal ablation. The thermal ablation devices are further categorized into electrical, radiation, radiofrequency, light, ultrasound, microwave, and hydrothermal ablation devices; whereas the non-thermal ablation devices are sub-segmented as cryoablation and hydromechanical ablation devices. By application, the market is divided into cancer, cardiovascular, ophthalmology, gynecology, urology, and orthopedics. By procedures, the ablation devices industry is categorized as aesthetics skin rejuvenation & tightening, aesthetics body sculpting, fat reduction, and the reduction in the appearance of cellulite, benign prostatic hyperplasia, transurethral needle ablation, laser, and other energy-based therapies/holmium laser ablation/enucleation of the prostate, stress urinary incontinence, menorrhagia/ endometrial ablation, uterine fibroids, spinal decompression & denervation, varicose veins, atrial fibrillation, and tumor ablation. By function, the market is categorized into automated/robotic and conventional ablation devices.
The key players profiled in this report include St. Jude Medical, Inc., Medtronic plc, Boston Scientific Corporation, AngioDynamics, Inc., AtriCure, Inc., Conmed Corporation, Olympus Corporation, Smith & Nephew plc, BTG plc, and Johnson & Johnson. Other players in the ablation devices market include Accuray Incorporated, C.R. Bard, Inc., Varian Medical Systems, Inc., Elekta AB, Misonix, Inc., Hologic, Inc., Stryker Corporation, EDAP TMS S.A., Japan Lifeline Co., Ltd., Halyard Health, Inc., Merit Medical Systems, Inc., Integra LifeSciences Holdings Corporation, Abbott Laboratories, and Terumo Corporation.