Market players are shifting their focus on R&D activities prompting a rise in product developments (launches &approvals), and consecutively contributing to the market expansion.
Future Market Insights, Dubai: The global ablation devices market is projected to exhibit a robust CAGR of 11% over the forecast period (2019-2029). This is ascribed to the growing adoption of minimally invasive and ablation procedures, increasing geriatric population, as well as growing cases of cancer. Moreover, rising healthcare awareness across the globe and amid developing nation will augment market growth.
“The advent of microwave ablation methods, which is very alike to the RFA system and is utilized as a substitute for wiping out the cancer cells. Initiation of these techniques is anticipated to foresee robust growth in the approaching years.” says an FMI analyst.
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Ablation Devices Market – Important Highlights
- The advanced ablation catheters will remain lucrative among other product types amid the assessment period.
- Hospitals hold their prominence owing to the ease of accessibility of ablation devices and skilled personnel for enhanced clinical management of various ailments.
- Radiofrequency technology will remain key beneficiary among others because of lesser side effects and possible threat, and lesser recovery period.
- Automated robotics functional category is projected to grow at an impressive rate amid the forecast period.
- North America will spearhead amid other regions, trailed by Europe due to huge investments by government in healthcare infrastructure to address the growing patient pool of oncological and cardiac disorders.
Ablation Devices Market – Drivers
- Increased adoption in clinical setting based on effective treatment over several medical applications, and shorter recovery time with minimal invasive procedures will bolster growth in the market.
- Growing prevalence of chronic ailments such as tumors and cardiovascular diseases will provide impetus to market expansion.
- Rising ablation procedures and growing implementation of minimally invasive methods are likely to bolster the growth in the market.
Ablation Devices Market – Restraints
- High cost associated with the ablation devices have prompted frequent device reuse in developing nations, which in turn, reduces their market size, increases the blood-borne infections threat among patients, along with device malfunction.
- Stringent government approval and complications related to ablation procedures, might limit the market growth.
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COVID-19 Impact on the Market
The COVID-19 outbreak has presented a challenging circumstance for companies in the ablation devices market due to supply chain disruptions and travel ban. However, ablation devices are gathering momentum amid the crisis, due to their verified procedural efficacy, enhanced safety profiles, as well as awareness in this present asymptomatic procedure-related crisis. On the other hand, as the healthcare sector is gearing up with the vaccination development, market players are gearing up for post- pandemic strategies.
Competitive Landscape
Major companies identified in the global market are Hologic, Inc., AtriCure, Inc., CathRx Ltd, Japan Lifeline Co., Biotronik SE & Co. KG., AngioDynamics Inc., Johnson and Johnson, Abbott Laboratories, Strategy Overview, Medtronic plc and Boston Scientific Corporation
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Incessant product launches and upgradation in the ablation devices market are boosting the intense competition amid the market players. Players are engaged on product approvals for ablation devices. Local and regional players are further implementing these distinguishing strategies to withstand their competitiveness.
About the Study
The study offers readers a comprehensive assessment of the Ablation Devices market. Global, regional and national-level analysis of the latest trends influencing the market is covered in this FMI report. The study provides insights on the basis of product type (bipolar energy ablation devices, cryotherapy ablation devices, hydrothermal ablation (HTA) devices, microwave endometrial ablation devices, thermal balloon ablation devices, advanced ablation catheters, standard ablation catheters, and MRI guided neurosurgical ablation), technology (lasers, radiofrequency, microwave, and ultrasound), application (cardiovascular, cancer, urological, ophthalmic, and others), functional (automated and conventional), and end user (hospitals, ambulatory surgical centers, and clinics), , across key regions (North America, Latin America, Europe, China, Asia Pacific, Middle East & Africa).
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