Ablation Devices Market to Reach $16 Billion by 2028, Says
Selbyville, Delaware, March 8, 2022 (GLOBE NEWSWIRE) —
Global ablation devices market value is expected to reach USD 16 billion by 2028, according to a new research report by Global Market Insights Inc. Advancements in technologies for the treatment of various chronic diseases will fuel the overall growth of the industry.
Rising prevalence of several chronic diseases including cancer and cardiovascular diseases across the globe will drive the market demand over the forecast period. A significant increase in the prevalence of cancer has been observed in recent years. Radiofrequency ablation is primarily used for the treatment of cancer patients who have a tumor less than an inch and a half in diameter. Thus, the increase in the number of cases and the efficiency of ablation procedures will have a positive impact on the expansion of the activity.
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The ablation device industry is further boosted by the growing preference for minimally invasive technologies, especially in developed countries. Several benefits associated with minimally invasive procedures such as shorter stay in hospitals, quick recovery and effective post-surgical pain management are accelerating the demand for the procedures, which positively impacts market revenue .
Some of the key findings of the Ablation Devices Market report include:
- The growing attention and preference for minimally invasive procedures due to its many benefits will drive the expansion of the industry.
- The increase in the patient population with chronic diseases, especially cancer and cardiovascular disease, will fuel the demand for ablation devices.
- Continued product innovations to deliver safe and effective treatment will have a significant impact on market statistics.
- Improved reimbursement scenario and advancements in healthcare technology will boost the industry revenue.
Browse key industry information spread over 150 pages with 171 market data tables and 14 report figures and graphs, “Ablation Devices Market Statistics, By Technology (Radio Frequency Devices, Laser/Light Ablation, Ultrasound Devices, Cryoablation Devices), Application (Cardiology, Oncology, Ophthalmology, Gynecology, Urology, Cosmetic Surgery), End Use (Hospitals) , Ambulatory Surgery Centers), Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share and Forecast, 2022-2028in detail with the table of contents:
The radio frequency devices segment was valued at over USD 3.5 billion in 2021. Radio frequency devices are widely used in the fields of cardiology, oncology, gynecology, cosmetology and skin management. pain. The increasing prevalence of cardiovascular diseases, primarily atrial fibrillation, has led to an increase in demand for radio frequency devices. The high success rate of procedures using radio frequency devices in the treatment of atrial fibrillation has increased the rate of product adoption which will boost the commercial landscape.
The gynecology segment ablation devices market held 6% revenue share in 2021 and is expected to grow at a lucrative rate during the forecast period. The increasing prevalence of several gynecological disorders, including uterine endometrial mucosal damage, is expected to increase the demand for ablation devices. The preference for minimally invasive procedures involving less scarring and faster recovery in the treatment of gynecological disorders is expected to drive the expansion of the industry.
The hospital segment accounted for more than USD 3.5 billion in 2021. Developed infrastructure and availability of advanced devices represent the major factors impacting the market outlook. In addition, the increasing number of patient visits leads to a high rate of disease treatment in hospitals, which will drive the demand for ablation devices in institutions. In addition, increased focus by industry players on expanding product availability in hospitals to cater to a large patient population will result in rapid adoption of advanced devices in hospitals that will drive the market expansion.
The Asia-Pacific ablation device market is expected to grow at a CAGR of 12.6% during the forecast period. Growing awareness of the availability of advanced treatment options coupled with the growing prevalence of cardiovascular disease will result in rapid adoption of the products across the region. Additionally, several industry players are involved in the development of advanced products for the treatment of atrial fibrillation. These product introductions by industry players in the region are expected to boost the adoption rate.
Major players operating in the ablation devices market include Abbott Laboratories, Alcon Laboratories, AngioDynamics, AtriCure, Inc, Bausch & Lomb Incorporated, Biotronik SE & Co. KG, Boston Scientific Corporation, CONMED Corporation, Elekta AB, Olympus Corporation, Varian, Medtronic plc, and Ethicon, Inc (Johnson & Johnson) among others. These players implement various strategies such as collaborations, new product launches, and partnerships to gain competitive advantage.
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About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, USA, is a global provider of market research and advisory services, offering syndicated and custom research reports as well as consulting services. growth. Our business intelligence and industry research reports provide clients with in-depth insights and actionable market data specially designed and presented to aid in strategic decision-making. These comprehensive reports are designed using proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.