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.
Ablation Technology Market
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 through 2028.
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.
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.
|2016 - 2020
|2021 - 2028
|By Product Type, By Application, and By End Use
|Value (USD Billion), and Volume (Units)
|Revenue in USD million/billion and CAGR from 2021 to 2028
|North America, Europe, Asia Pacific, Latin America, and MiddleEast & Africa, and Rest of World
|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
|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.
|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).
By Product Type
By End User
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).