The global ablation technology market Size was worth around USD 4,921.70 million in 2021 and is estimated to grow to about USD 8,299.72 million by 2028, with a compound annual growth rate (CAGR) of approximately 9.1 percent over the forecast period.
The global ablation technology market was worth around USD4,921.70 million in 2021 and is estimated to grow to about USD8,299.72 million by 2028, with a compound annual growth rate (CAGR)of approximately 9.1 percent over the forecast period. The report analyzes the Ablation Technology market’s drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the Ablation Technology market.
Ablation Technology is widely used for the treatment of cancer patients and is a relatively new technology in the world of cancer treatments. Rising focus on improving the global healthcare infrastructure and increasing technological proliferation in healthcare are expected to be major trends driving the ablation technology market growth in the long run.
The rising geriatric population, increasing research and development activity in the healthcare industry, growing instances of cancer among the population, and increasing demand for minimally invasive procedures are some major factors that will propel ablation technology market growth over the forecast period.
However, the lack of awareness, concerns regarding the efficacy of the ablation technology, and frequent product recalls of ablation technology treatment products are expected to have a hindering effect on the ablation technology market potential through2028.
The COVID-19 pandemic revolutionized the healthcare industry and caused the world to rethink its complete healthcare infrastructure. As coronavirus infections spread like wildfire the focus on treating and containing the spread of these infections became the prime focus of the healthcare industry and resulted in a negative growth trend for all other aspects such as the ablation technology market.
The drop in research and development activities, drop in the use of ablation technologies, and multiple changes to pharmaceutical and healthcare industries also further slowed down the ablation technology market growth in 2020. Lack of diagnostic opportunities and lack of resources for treatment were also factors hampering ablation technology market potential in the pandemic.
The ablation technology market is expected to make a good recovery in the post-pandemic era and is expected to see good growth through the forecast period as technological proliferation in healthcare increases at a prominent pace.
Increasing Popularity of minimally invasive procedures
Minimally invasive surgeries and procedures have gained massive popularity over recent years owing to the fast recovery and less inconvenience that they offer against invasive procedures. Increasing preference of patients for less hospitalization, rising focus on patient safety, and increasing instances of hospital-acquired infections are some factors that will favor the ablation technology market growth over the forecast period.
The use of ablation technology will also reduce the costs of surgeries and hence will be a major factor that will positively influence the ablation technology market growth in the long run.
Ablation Technology Market: Restraints
Presence of alternative treatment procedures
Ablation Technology is not as popular as the alternative procedures that are present for cancer treatment are more preferred by patients owing to high awareness and proven efficacy in treatment. Lack of awareness, less availability, and regulatory concerns regarding the use of ablation technology in treatment are expected to majorly hamper the ablation technology market growth.
Ablation technology companies can focus on creating awareness and boosting their revenue potential over the forecast period. Government initiatives to boost awareness for use of novel treatments will also help the ablation technology market to overcome these restraints through 2028
The global Ablation Technology market is segregated based on product, type, application, end-user, and region.
By Product, the market is divided into Radiofrequency Ablators, Laser/Light Ablators, Ultrasound Ablators, Electrical Ablators, Cryoablation Devices, Microwave Ablators, and hydrothermal/Hydromechanical Ablators. The radiofrequency ablators segment is expected to have a dominant outlook over the forecast period owing to rapid adoption by multiple ablation technology companies.
By Application, the Ablation Technology market is segmented into Cardiovascular Disease Treatment, Cancer Treatment, OphthalmologicTreatment, Pain Management, Gynecological Treatment, Urological Treatment, Orthopedic Treatment, Cosmetic/ Aesthetic Surgery, and Other Treatments. The cardiovascular treatment segment is expected to have a bright outlook over the forecast period. Increasing instances of cardiovascular diseases and increasing advancements in cardiovascular treatments are expected to propel this segment growth through 2028.
|Historic Years||2016 - 2020|
|Forecast Years||2021 - 2028|
|Segments Covered||By Product Type, By Application, and By End Use|
|Forecast Units||Value (USD Billion), and Volume (Units)|
|Quantitative Units||Revenue in USD million/billion and CAGR from 2021 to 2028|
|Regions Covered||North America, Europe, Asia Pacific, Latin America, and MiddleEast & Africa, and Rest of World|
|Countries Covered||U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain,China, India, Japan, South Korea, Brazil, Argentina, GCC Countries,and South Africa, among others|
|Number of Companies Covered||10 companies with scope for including an additional 15 companies upon request|
|Report Coverage||Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.|
|Customization Scope||Avail of customized purchase options to meet your exact research needs.|
The Asia Pacific region will provide highly lucrative opportunities for the Ablation Technology market over the forecast period. The increasing prevalence of multiple diseases, increasing focus on healthcare, and increasing use of technology are expected to be the major factors propelling the ablation technology market growth in this region through 2028. India and China are expected to be the most prominent markets in this region.
The ablation technology market in North America is also anticipated to have a bright outlook owing to the presence of developed healthcare infrastructure and the rising popularity of minimally invasive surgeries will drive the market growth. The United States will be the most prominent market in this region over the forecast period.
Some of the main competitors dominating the global AblationTechnology market include - Medtronic, plc. (Ireland), Johnson &Johnson (US), Abbott (US), and Boston Scientific Corporation (US)and CONMED Corporation (US), AngioDynamics, Inc. (US), AtriCure,Inc. (US), Smith & Nephew plc (UK), Olympus Corporation (Japan), Varian Medical Systems (UK), Stryker (US), Dornier MedTech(Germany), Cynosure (US), and InMode (US).
The global Ablation Technology market is segmented as follows:
By Product Type
By End User
The ablation technology is used for the treatment of several healthcare problems which include cancer, cardiovascular problems, orthopedics, pain management, urology, gynecology, and many others. The treatment based on the ablation technology involves negligible invasion along with the minimum damage to the tissues and organs surrounding the infected organ. The inclination of the patients towards the advanced technology based treatment which gives instant results with minimum side effects are projected to drive the ablation technology market over the forecast period.
As per the World Health Organization, cardiovascular diseases are one of the main causes of death worldwide. About 17.5 million people died due to cardiovascular disease in 2015 representing 31% of all global deaths. Additionally, as per the World Health Organization estimates, 8.8 million deaths resulted due to cancer in 2015. Globally, approximately 1 in 6 deaths is because of cancer. Also, the global burden of these disorders is increasing further owing to the increasing geriatric population base across the world. According to the World Health Organization, the number of people who aged 60 or above is expected to be doubled by 2050 growing from 962 million globally in 2017 to 2.1 billion in 2050. Thus, ablation technology market has vast potential in terms of large patient pool and upsurge need for significant treatment.
The ablation technology market is segmented on the basis of product type as hydrothermal, microwave, cryotherapy, electrical, laser, ultrasound and the radiofrequency. By product, the radiofrequency segment is estimated to cover the maximum market value share due to its comparatively lower price as compared to the other technologies which make it more preferable for the patients.
Based on application, ablation technology is segmented as cancer, cardiovascular, orthopedics, pain management, urology, gynecology, and others. By application, cancer is expected to occupy the largest market value share due to the increasing cases of cancer which has created the upsurge need for the treatment.
Based on end-use, ablation technology is segmented as hospitals, clinics, and others. By end user, the hospital segment is estimated to be the prominent segment and will show significant CAGR growth over estimated time.
North America is anticipated to be the dominant region in the ablation technology market over the forecast period. Favorable government policies supporting the invasion of new and advanced procedures for the treatment, development in the healthcare infrastructure, and research granted by the government and ruling authorities are expected to propel the growth of the ablation technology market in this region. Europe is the second largest market followed by the Asia Pacific. Increasing geriatric population base in the Asia Pacific region, especially India, China, and Japan is the significant accelerating factor for the growth of the ablation technology market in this region. Asia Pacific is expected to show the fastest CAGR growth during the forecast period while Latin America market is projected to grow at a low to moderate rate during the forecast period. The Middle East and Africa are also expected to cover the prominent market value share in the ablation technology global market.
Some of the key players in ablation technology market include Johnson & Johnson, Boston Scientific Corporation, Medtronic plc, Medical, Inc., Olympus Corporation, Conmed Corporation, AtriCure, Inc., AngioDynamics, Inc., BTG plc, Stryker Corporation, Hologic, Inc., Misonix, Inc, Elekta AB., EDAP TMS S.A., Terumo Corporation, Abbott Laboratories, Integra Life Sciences Holdings Corporation, Merit Medical Systems, Halyard Health, Inc. and Japan Lifeline Co., Ltd., among others.
Increasing demand focus on healthcare, rising cancer patients, and increasing demand for minimally invasive procedures are some major trends that guide Ablation Technology market growth.
According to the Zion Market Research report, the global Ablation Technology market was worth about US$ 4,921.70 million in 2021 and is predicted to grow to around US$ 8,299.72 million by 2028, with a compound annual growth rate (CAGR) of around 9.1 percent.
The Asia Pacific region will provide highly lucrative opportunities for the Ablation Technology market over the forecast period. The increasing prevalence of multiple diseases, increasing focus on healthcare, and increasing use of technology are expected to be the major factors propelling the ablation technology market growth
Some of the main competitors dominating the global Ablation Technology market include -- Medtronic, plc. (Ireland), Johnson & Johnson (US), Abbott (US), and Boston Scientific Corporation (US) and CONMED Corporation (US), AngioDynamics, Inc. (US), AtriCure, Inc. (US), Smith & Nephew plc (UK), Olympus Corporation (Japan), Varian Medical Systems (UK), Stryker (US), Dornier MedTech (Germany), Cynosure (US) and InMode (US).