BANGALORE, India, July 15, 2021
BANGALORE, India, July 15, 2021 /PRNewswire/ -- The Ablation Technology Market is Segmented by Type (Electrical, Ultrasound, Radiation, Radiofrequency), by Application (Cancer, Cardiovascular, Ophthalmology, Orthopaedics, Urology). The report covers global opportunity analysis and industry forecasts from 2021 to 2026. It is published in Valuates Reports Under the Medical Devices & Equipment Category.
The global Ablation Technology market size is projected to reach USD 6352.7 Million by 2026, from USD 3364.1 Million in 2019, at a CAGR of 9.4% during the forecast period 2021-2026.
Major factors driving the growth of the ablation technology market are:
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TRENDS INFLUENCING THE GROWTH OF ABLATION TECHNOLOGY MARKET
The introduction of next-generation ablation devices, as well as widespread use of minimally invasive techniques and an increase in the number of ablation procedures, are propelling the growth of the ablation technologies market.
Minimally invasive surgeries are becoming more popular around the world as they are safer and have lower mortality and complication rates than open surgeries. This shift in trend in patients preference is expected to drive the ablation technology market. Patients benefit from minimally invasive procedures since they cause less discomfort, scars, and recovery time. Furthermore, these techniques are less expensive than typical surgical procedures.
Rising incidences of cancer & cardiovascular diseases along with the increasing elderly population is expected to fuel the ablation technology market size. Ablation operations are rising in popularity around the world due to their ability to cure a variety of disorders, including cancer, cardiovascular disease, gynecology, and ophthalmology. Ablation therapies are less painful and take less time to recover from than typical surgical treatments.
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ABLATION TECHNOLOGY MARKET SHARE ANALYSIS
Due to the lower cost of radiofrequency ablation procedures compared to other ablation techniques, as well as their high safety, efficacy, and short procedural duration for the treatment of cancer, atrial fibrillation, and pain management, the radiofrequency ablation segment is expected to be the most lucrative during the forecast period.
Due to the early introduction of ablation technology, North America held the largest ablation technology market share during the forecast period. North America's ablation technology industry has grown as people have become more aware of the many treatments that can be done with ablation technologies.
On the other hand, the Asia Pacific region is expected to be the fastest-growing regional market over the forecast period. This is due to the availability of a large pool of patients, increased spending capacity of patients, increasing preference for ablation over surgery, geographical expansion of key market players, and increasing government investment in the healthcare sector.
Based on application, the cardiovascular disease segment is expected to be the most lucrative segment. The market is being driven by the rising incidence of atrial fibrillation around the world, as well as the development of novel ablation technologies for the treatment of atrial fibrillation.
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Major Players in the Ablation Technology Market
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- The global Medical Ablation Technology market size is projected to reach USD 170.4 Million by 2027, from USD 122 Million in 2020, at a CAGR of 5.3% during 2021-2027.
- Cardiac Ablation Technology Market contains segmentation By Type (Radiofrequency, Cryoablation, Laser, Ultrasound, Microwave, Others), By Application (Cardiac Arrhythmia, Atrial Fibrillation, Tachycardia, Open Surgery)
- The global Cryotherapy market size is projected to reach USD 644.8 Million by 2027, from USD 369.8 Million in 2020, at a CAGR of 8.2% during 2021-2027.
- The global Electrosurgery market size is projected to reach USD 4630.6 Million by 2026, from USD 3966.2 Million in 2019, at a CAGR of 2.2% during 2021-2026. The growth of this market is being propelled by the increasing usage of electronic components in the end products by OEMs, as well as the ability of this coating to help manufacturers to provide end products with higher levels of reliability.
- The global Tumor Ablation market size was valued at USD 457.6 Million in 2019 and is expected to reach USD 878.5 Million by the end of 2026, growing at a CAGR of 10.5% during 2021-2026. Tumor Ablation is application in Liver Cancer, Lung Cancer, Kidney Cancer and Other cancers. The most proportion of Tumor Ablation is used in Lung Cancer, and the market share in 2019 is about 20%.North America is the largest consumption place, with a revenue market share nearly 38% in 2019. Following North America, Europe is the second largest consumption place with the revenue market share of about 28% in 2019.
- The global smoke evacuation system market size was valued at USD 128.6 Million in 2019, and is projected to reach USD 196.4 Million by 2027 at a CAGR of 10.5% from 2020 to 2027.
- The global ablation devices market size was USD 3,047 Million in 2015 and is estimated to reach USD 6,658 Million by 2022, growing at a CAGR of 11.7% from 2016 to 2022.
- Laser Ablation Technology Market contains segmentation By Type (YAG Laser Type, CO2 Laser Type, Others), By Application (Hospitals, Ambulatory Surgical Centers, Clinics, Others)
- Temperature-Controlled RF Ablation Technology Market contains segmentation By Type (Ultrasound, Laser, Electrical, Cryotherapy, Microwave, Hydrothermal), By Application (Cardiovascular, Cancer, Pain, Orthopedics, Others)
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