Technology market

Ablation Technology Market Grows at a CAGR of 9.3% – Research Provides Detailed Analysis of Trends, Growth and Forecasts

“Major players in the ablation technology market include Medtronic, plc. (Ireland), Johnson & Johnson (USA), Abbott (USA), Boston Scientific Corporation (USA) and CONMED Corporation (USA).

In January 2021, AtriCure announced FDA approval to expand labeling claims for cryo nerve block therapy (cryoNB) to include the treatment of adolescent patients (12-21 years old).

The Ablation Technology Market is expected to reach USD 8.1 billion by 2026, from USD 5.2 billion in 2021, at a CAGR of 9.3% during the forecast period.

Increase in demand for minimally invasive/non-invasive procedures;

In recent years, the demand for minimally invasive procedures has seen a significant increase due to the advantages offered by these procedures over traditional treatment procedures – fewer operative complications, shorter hospital stay, less pain, smaller incisions and more esthetic, a lower risk of infection, reduced postoperative care and faster recovery. Minimally invasive procedures use advanced technologies to diagnose and treat various diseases, including cancer. These procedures are used to remove cancerous tumors and lymph nodes without leaving scars. Minimally invasive techniques also help surgeons collect tissue for biopsy and accurate staging studies. This helps surgeons establish appropriate and accurate cancer treatment plans.

The adoption of minimally invasive techniques also results in significant cost savings. A news article published on March 25, 2015 in the JAMA (Journal of the American Medical Association) stated that research conducted by researchers from Johns Hopkins Medicine, a division of Johns Hopkins University (USA), showed that American hospitals could collectively save between $280 million and $340 million annually by performing MIS procedures instead of traditional surgeries. Since ablation is one of the most frequently used minimally invasive techniques to treat tumors, AF and uterine fibroids, the growing demand for minimally invasive surgical procedures will increase procedure volumes and contribute to the market growth.

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The growing elderly population has also driven the incidence of target conditions and contributed to the demand for effective treatment. However, device reuse and reprocessing in developed countries and unfavorable regulatory scenario are key factors limiting the growth of this market. Product recalls and therapeutic challenges related to the efficacy of ablation products are the major challenges faced by industry players in the global market.

On the basis of applications, the ablation technology market is categorized into major segments: Cardiovascular Disease Treatment, Cancer Treatment, Ophthalmic Treatment, Pain Management, Gynecological Treatment, Urological Treatment, Orthopedic Treatment, Aesthetic/Cosmetic Surgery and other applications. The increasing prevalence of diseases and technological advancements in this field will drive the growth of the market.

Based on the product, the global ablation technology market is categorized into light/laser ablators, radio frequency ablators, ultrasonic ablators, electrical ablators, cryoablation devices, microwave ablators, and hydrothermal ablators/hydromechanical ablators. Each product class is then segmented according to its applications or energy source. The large share of radio frequency ablators segment is attributed to new product introductions by major market players and increasing adoption of RF ablation technology to treat various conditions, such as cancer, heart disease and ophthalmic diseases.

According to the type of energy source, the global ablation technologies market is categorized into light/laser, radio frequency (RF), electrical, ultrasound, microwave, cryotherapy, and hydrothermal/hydromechanical ablation technologies. The lower cost of radiofrequency ablation, its ease of use, and the increase in the geriatric population are fueling the growth of the radiofrequency ablation market.

The ablation technology market, by end user, is segmented into hospitals, surgical centers and ablation centers, ambulatory surgical centers (ASCs), medical spas and aesthetic centers and other end users. The increasing incidence of cancer, sports injuries and heart disease is driving the growth of the hospital, surgical center and ablation center market.

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North America led the global ablation technology market in 2020

The North American market dominated the market. The growth of the market in North America can be attributed to the early introduction of ablation technology in this region. A large number of ablation product manufacturers and high adoption of ablation treatment are key factors in increasing the customer base in the region.

Major players in the ablation technology market include Medtronic, plc. (Ireland), Johnson & Johnson (USA), Abbott (USA) and Boston Scientific Corporation (USA) and CONMED Corporation (USA), AngioDynamics, Inc. (USA), AtriCure, Inc. (US), Smith & Nephew plc (UK), Olympus Corporation (Japan), Varian Medical Systems (UK), Stryker (US), Dornier MedTech (Germany), Cynosure (US ) and InMode (USA), among others.

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