The global ablation technologies market size is estimated to be USD 4640.8 Million in 2022 and to be worth USD 8077 Million by 2027, growing at a CAGR of 11.72% during the forecast period.
Ablation technology is a beneficial procedure in removing tumor cells from the specified cells. The patient can quickly recover in a short period as this procedure causes less damage to the surrounding cells.
According to the American Heart Association, cardiac arrest incidences rise from 326,200 in 2014 to 23.6 million by 2030. The market size hits the highest CAGR in coming years due to a surge in these incidences.
Collaborations, joint agreements, and companies' acquisitions are essential to establishing new strategies or product launches. The addition between BTG Plc and Galil Medical, a leading company in manufacturing cryoablation systems and needles, has helped the companies expand their portfolios.
MARKET DRIVERS:
Growing incidences of chronic diseases are expected to favor the global ablation technologies market growth.
An increase in the number of people suffering from long-term diseases like cancer, cardiac ailments, and others is a significant factor propelling the market's demand. Adopting sedentary lifestyles and food habits changes are the primary reasons for the rise in chronic disease incidences. Constantly growing economy in developed and developing technology is making the market size move forward. Also, increasing support from the government through investments is escalating the demand for the ablation technologies market.
The prevalence of minimal and non-invasive procedures is a positive signal to the growth rate of the market to hike further.
Ablation techniques are beneficial when compared to chemotherapy as they show significantly fewer side effects. People's interest in minimally non-invasive procedures is significantly influencing the demand for the ablation technologies market.
The launch of innovative techniques in healthcare is estimated to help the market growth.
The emergence of the latest techniques in the healthcare sector is escalating the demand of the market. The launch of innovative products in favor of the end-users is solely to propel the growth rate of the Ablation Technologies Market.
MARKET RESTRAINTS:
The high cost of ablation procedures is expected to limit the market growth during the forecast period.
Ablation procedures require massive amounts where ordinary people cannot afford is slowly to restrain the market demand. Besides, the lack of reimbursement in some areas impedes the growth rate of the ablation technologies market. The government is taking strict measures to support the public in approving the new products, degrading the market demand.
People in rural areas are less aware of these procedures, and this is impeding the demand of the market. Creating awareness through campaigns and digital advertisements may positively impact the growth of the ablation technologies market.
Impact of COVID-19 on the global ablation technologies market:
The global ablation technologies market growth had a downfall during the first quarter of 2020. The outbreak of Covid-19 has disrupted the market growth of ablation technologies due to the nationwide lockdown. The government and healthcare professionals' primary focus was to fight the COVID-19 postponing all the ablation procedures. The ablation procedure has accelerated after the decline in the covid-19 increase rate. The decline in the cases has led to the uplift of lockdown globally. Now that most of the world has started resuming all its operations, the market is expected to see an acceleration in the coming days and forecast to be on its right path by the end of 2021.
REPORT COVERAGE:
|
REPORT METRIC |
DETAILS |
|
Market Size Available |
2021 to 2027 |
|
Base Year |
2021 |
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Forecast Period |
2022 to 2027 |
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Segments Covered |
Based on the Product, Application, and Region |
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Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, Drivers, Restraints, Opportunities, Challenges, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities |
|
Regions Covered |
North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
This research report on the global ablation technologies market has been segmented and sub-segmented based on the product, type, application, and region.
Ablation Technologies Market - By Product:
Based on product type, the radiofrequency products hold most of the shares due to the minimal costs associated with ablation procedures.
Light/Laser ablation product type is next to radiofrequency products holding the highest shares in the market with the increasing number of surgeries. The growing prevalence of chronic incidences is also leveling up the growth rate of the market. Escalating expenditure on healthcare is also one of the factors for the growth of this segment.
Ablation Technologies Market - By Type:
Based on type, the microwave ablation segment leads the global Ablation Technologies Market due to its high efficiency in treating cancer.
Ablation Technologies Market - By Application:
Based on application, the cardiovascular diseases treatment segment is ruling with dominant shares of the market owing to the rise in the risk of cardiac arrest and growing demand to promote new techniques. Cancer treatment is to have the highest CAGR in foreseen years with the growing need to improve healthcare infrastructure. Ophthalmologic and gynecologic treatment segments to show a steady growth rate in the forecast period.
Ablation Technologies Market - By Region:
In 2019, North America was the market leader in the global ablation technologies market.
North America is holding a significant growth rate for the past few years and is expected to continue the same flow in the coming years. The U.S. is the one with the most significant shares in this region with adopting the medical sector's latest technologies. They are increasing healthcare centers with the new ablation technology to fuel the market demand in North America. Europe is following North America in leading dominant shares of the market with the growing prevalence for the adoption of safe and efficient techniques. Asia Pacific to hit the highest CAGR in the foreseen years. Countries like India and China are playing a pivotal role in enhancing the growth rate of this market. The increasing elderly population is undoubtedly a significant factor for the market to grow in this region.
KEY MARKET PLAYERS:
Some of the promising competitors in the global ablation technologies market profiled in this report are Biosense Webster, Inc., St. Jude Medical, Inc., Boston Scientific Corporation, AngioDynamics, Inc., AtriCure, Inc., Smith & Nephew plc, Galil Medical Inc., CONMED Corporation, Olympus Corporation, Covidien PLC, Medtronic, Inc., and BSD Medical Corporation.
Key market leaders in the global ablation technologies market like Biosense Webster, Inc. and Metronic, Inc. are using acquisitions, new product launches, high investments in R&D, and technology innovations as their strategies to strengthen their position in the market.
RECENT MARKET HAPPENINGS:
In May 2019, Cartonet Analytics Software for Electrophysiology was launched by Biosense Webster, which will improve procedural efficiency. Electrophysiologists can review, analyze, and share atrial fibrillation case data through the cloud-based network provided by the software.
In March 2017, Abbott received U.S Food and Drug Administration (FDA) approval for FlexAbility cardiac ablation catheter. This product is highly efficient in treating patients with complex cardiac arrhythmias. The sensor-enabled product will allow the physicians to map the systems accurately and reduce the time for diagnosis.
1.Introduction
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.1 Introduction
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3. Overview
3.1 Executive Summary
3.2 Key Inferences
3.3 Epidemology
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1 Product
5.1.1 Introduction
5.1.2 Light/Laser ablators
5.1.2.1 Excimer laser ablators
5.1.2.2 Cold laser ablators
5.1.3 Radiofrequency (RF) ablators
5.1.3.1 Temperature-controlled RF ablators
5.1.3.2 Fluid-cooled RF ablators
5.1.3.3 Robotic catheter manipulation systems
5.1.4 Electrical ablators
5.1.4.1 Argon plasma/beam coagulators
5.1.4.2 Irreversible electroporation ablators
5.1.5 Ultrasound ablators
5.1.5.1 High-intensity focused ultrasound (HIFU) ablators
5.1.5.2 Magnetic resonance guided focused ultrasound (MRGFUS) ablators
5.1.5.3 Ultrasonic surgical ablation systems
5.1.5.4 Extracorporeal shockwave lithotripsy systems
5.1.6 Microwave ablators
5.1.6.1 Microwave thermotherapy ablators
5.1.7 Cryoablation devices
5.1.7.1 Tissue contact probe ablators
5.1.7.2 Tissue spray probe ablators
5.1.7.3 Epidermal and subcutaneous cryoablation systems
5.1.8 Hydrothermal ablators
5.1.8.1 Endothermal hydrothermal balloon ablation devices
5.1.9 Y-o-Y Growth Analysis, By Product
5.1.10 Market Attractiveness Analysis, By Product
5.1.11 Market Share Analysis, By Product
5.2 Type
5.2.1 Introduction
5.2.2 Light/Laser Ablation
5.2.3 Radiofrequency Ablation
5.2.4 Electrical Ablation
5.2.5 Ultrasound Ablation
5.2.6 Cryoablation
5.2.7 Microwave Ablation
5.2.8 Hydrothermal Ablation
5.2.9 Y-o-Y Growth Analysis, By Type
5.2.10 Market Attractiveness Analysis, By Type
5.2.11 Market Share Analysis, By Type
5.3 Application
5.3.1 Introduction
5.3.2 Cardiovascular Disease Treatment
5.3.3 Cancer Treatment
5.3.4 Ophthalmologic Treatment
5.3.5 Gynecologic Treatment
5.3.6 Pain Management
5.3.7 Urologic Treatment
5.3.8 Orthopedic Treatment
5.3.9 Cosmetic Surgery
5.3.10 Other Treatments
5.3.11 Y-o-Y Growth Analysis, By Application
5.3.12 Market Attractiveness Analysis, By Application
5.3.13 Market Share Analysis, By Application
6. Geographical Analysis
6.1 Introduction
6.1.1 Regional Trends
6.1.2 Impact Analysis
6.1.3 Y-o-Y Growth Analysis
6.1.3.1 By Geographical Area
6.1.3.2 By Product
6.1.3.3 By Type
6.1.3.4 By Application
6.1.4 Market Attractiveness Analysis
6.1.4.1 By Geographical Area
6.1.4.2 By Product
6.1.4.3 By Type
6.1.4.4 By Application
6.1.5 Market Share Analysis
6.1.5.1 By Geographical Area
6.1.5.2 By Product
6.1.5.3 By Type
6.1.5.4 By Application
6.2 North America
6.1.1 Introduction
6.1.2 United States
6.1.3 Canada
6.3 Europe
6.2.1 Introduction
6.2.2 U.K
6.2.3 Spain
6.2.4 Germany
6.2.5 Italy
6.2.6 France
6.4 Asia-Pacific
6.3.1 Introduction
6.3.2 China
6.3.3 India
6.3.4 Japan
6.3.5 Australia
6.3.6 South Korea
6.5 Latin America
6.4.1 Introduction
6.4.2 Brazil
6.4.3 Argentina
6.4.4 Mexico
6.4.5 Rest of Latin America
6.6 Middle East & Africa
6.5.1 Introduction
6.5.2 Middle-East
6.5.3 Africa
7.Strategic Analysis
7.1 PESTLE analysis
7.1.1 Political
7.1.2 Economic
7.1.3 Social
7.1.4 Technological
7.1.5 Legal
7.1.6 Environmental
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8.Market Leaders' Analysis
8.1 Biosense Webster, Inc.
8.1.1 Overview
8.1.2 Product Analysis
8.1.3 Financial analysis
8.1.4 Recent Developments
8.1.5 SWOT analysis
8.1.6 Analyst View
8.2 St. Jude Medical, Inc.
8.3 Boston Scientific Corporation
8.4 AngioDynamics, Inc.
8.5 AtriCure, Inc.
8.6 Smith & Nephew plc
8.7 Galil Medical Inc.
8.8 CONMED Corporation
8.9 Olympus Corporation
8.10 Covidien PLC
8.11 Medtronic, Inc.
8.12 BSD Medical Corporation
9.Competitive Landscape
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10.Market Outlook and Investment Opportunities
Appendix
a) List of Tables
b) List of Figures
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