Ablation is a minimally invasive procedure that treats various chronic diseases such as cancer and lung disease and is also used for aesthetic procedures. The market is expected to grow at a rapid pace because of the many benefits of ablation procedures over conventional methods, such as chemotherapy, because of its high side effects.
Ablation Devices Market Size and Growth Rate:
The size of the global ablation devices market was estimated at $9.78 billion in 2014 and is expected to have an annual compound rate of 11.46% during the forecast period 2014 to 2023 to reach USD 25.96 billion by 2023.
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Key findings of the Ablation Devices Market:
- Varicose veins segment is estimated to exhibit a CAGR of 14.8%, among procedure types.
- Cardiovascular is anticipated to be the fastest growing segment throughout the analysis period.
- Epidermal and subcutaneous cryoablation devices are the fastest growing sub-markets from cryoablation devices segment.
- Turkey ablation devices market is projected to grow at a CAGR of 9.75%.
- Automated/robotic ablation devices market is projected to grow at a CAGR of 13.85%.
Ablation Devices Market Growth Drivers and Restraints:
In addition, the growing number of ablation devices, hospitals, surgical centers and ablation centers, as well as the emergence of new generation ablation products and technologies, contributes to the growth prospects of this sector.
This method is advantageous compared to other techniques, in terms of efficiency in the treatment of tumors. It offers benefits, such as greater tumor removal volume, high temperature consistency, shorter duration, reduced pain in the procedure, and optimal cystic mass heating that generates many opportunities on the market.
Geographic Overview of Ablation Devices Market:
Asia-Pacific region is expected to experience the highest growth rate over the forecast period. Market growth in the Asia-Pacific region can be attributed to the growing interest of global market players, the large population, improved health care infrastructure, and increasing prevalence of cancer.
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Key Players of Ablation Devices Market:
Some of the leading market players of Ablation Devices Market are St. Jude Medical, CONMED Corporation, Smith & Nephew, Johnson & Johnson, AtriCure, Boston Scientific, Olympus Corporation, Medtronic, AngioDynamics and others.
Ablation Devices Market Segmentation:
By Technology:
- Thermal
- Non-thermal ablation
By Application:
- Cardiovascular
- Cancer
- Gynaecology
- Ophthalmology
- Urology
- Orthopaedics
By Procedure:
- Aesthetics-Body Sculpting
- Transurethral Needle Ablation
- Stress Urinary Incontinence
- Uterine Fibroids
- Varicose Veins
- Tumour Ablation
- Aesthetics-Skin Rejuvenation and Tightening
- Benign Prostatic Hyperplasia
- Spinal Decompression and Denervation
- Atrial Fibrillation
By Function:
- Automated/Robotic
- Conventional
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East and Africa
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