14-Apr-2022 | Zion Market Research
The global ablation technology market 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 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 expected to see good growth over the forecast period owing to the rising focus on healthcare and the increasing use of technology in healthcare infrastructure. The demand for novel innovative treatment procedures is anticipated to have a major positive impact on the ablation technology market growth in the long run.
The increasing geriatric population, rising number of diseases, increasing instances of cancer and cardiovascular diseases, increasing popularity of minimally invasive procedures, increasing focus on the development of healthcare infrastructure, and rising technological proliferation are major factors that will be driving the ablation technology market growth over the forecast period.
Stringent regulatory compliance practices, product recalls, and uncertainty about the efficacy of ablation technology treatment procedures are some major factors that will be restricting the ablation technology market growth through 2028. Ablation technology treatment product recalls have also had a negative impact on the ablation technology market growth. Ablation technology providers are focusing on changing these adverse factors and are striving to create products that will see worldwide acceptance.
Lack of awareness will also hamper the ablation technology market growth but government initiatives to increase awareness are expected to change this trend over the forecast period. Preference for alternative procedures like chemotherapy will also restrain the adoption of ablation technology in the healthcare industry.
The COVID-19 pandemic had a negative impact on the ablation technology marketplace and this trend incurred losses for ablation technology providers in 2020. Disrupted research and development activities lack of focus on other health conditions and lack of resources for treatment in the COVID-19 pandemic were some other factors that further constrained the ablation technology market potential in this era.
The ablation technology market is expected to rise at a high CAGR in the post-pandemic era owing to increasing diagnostic and scheduling of multiple treatment therapies that were delayed due to the onset of the COVID-19 pandemic. The market is expected to make a speedy recovery through 2028
The global Ablation Technology market is segregated based on product, type, application, end user, and region. Based on type, the global market is distinguished into Radiofrequency Ablation, Laser/Light Ablation, Ultrasound Ablation, Electrical Ablation, Cryoablation, Microwave Ablation, and Hydrothermal/Hydromechanical Ablation. The Radiofrequency Ablation segment is expected to lead the global ablation technology marketplace owing to its cost-effective nature which is increasing its adoption by ablation technology providers as well as patients.
Browse the full “Ablation Technology Market By Application (Cardiovascular Disease Treatment, Cancer Treatment, Ophthalmologic Treatment, Pain Management, Gynecological Treatment, Urological Treatment, Orthopedic Treatment, Cosmetic/ Aesthetic Surgery, Other Treatments), By Product Type (Radiofrequency Ablators, Laser/Light Ablators, Ultrasound Ablators, Electrical Ablators, Cryoablation Devices, Microwave Ablators, Hydrothermal/Hydromechanical Ablators), By Type (Radiofrequency Ablation, Laser/Light Ablation, Ultrasound Ablation, Electrical Ablation, Cryoablation, Microwave Ablation, Hydrothermal/Hydromechanical Ablation), By End User (Hospitals, surgical centers, and ablation centers, Ambulatory Surgical Centers, Medical Spas & Aesthetic clinics, Other End Users), and By Region – Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2022 – 2028.” Report at https://www.zionmarketresearch.com/report/ablation-technology-market
Asia Pacific region will provide lucrative opportunities owing to its developing healthcare infrastructure and rising focus on healthcare. The ablation technology market in this region will also be driven by increasing support from governments to bolster healthcare offerings and high use of technology in healthcare as well. The developing economies of India and China are anticipated to be the most lucrative markets for ablation technology in this region over the forecast period. Rising instances of cancer are expected to be a prominent driver for the ablation technology market in these economies.
The presence of developed healthcare infrastructure in North America will boost ablation technology market potential in this region and the United States is expected to be the leading market in this region through 2028.
Key players functioning in 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).
Global Ablation Technology market is segmented as follows:
By Product Type
By End User
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