Rise in prevalence of thyroid cancer and thyroid nodules, demand for minimally invasive procedures, and technological advancements in ablation devices drive the growth of the global ablation devices market. However, high cost of installation and maintenance restrain the market growth. On the other hand, surge in healthcare expenditure worldwide presents opportunities in the coming years.
According to the report published by Allied Market Research “Ablation Devices Market by Technology (Thermal [Electrical, Radiation, Radiofrequency, Light, Ultrasound, Microwave, and Hydrothermal Ablation] and Non-Thermal Ablation [Cryoablation and Hydromechanical Ablation]), Application (Cancer, Cardiovascular, Ophthalmology, Gynecology, Urology, and Orthopedics), Function (Automated/Robotic and Conventional Ablation Devices) – Global Opportunity Analysis and Industry Forecast, 2022 – 2030. The report provides a detailed analysis of changing market dynamics, top segments, value chain, key investment pockets, regional scenario, and competitive landscape.
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Ablation therapies can be used for the treatment of various diseases across several medical domains such as ophthalmology, cancer, gynecology, and cardiovascular. Being a minimally invasive procedure, it is less painful than conventional surgical operations, leading to shorter recovery time. In addition, it causes very little damage to the surrounding tissues. Even though it lowers the side effects, it has some disadvantages as well. For instance, large and bulky tissues, such as bone and neck nodules, cannot be treated with ablation. Besides, the availability of ablation treatment in remote locations is quite restricted.
- The Covid-19 pandemic impacted the global ablation devices market negatively as the demand for these devices reduced due to postponement of non-elective surgeries. The surgeries were carried out only in emergency cases.
- Manufacturing activities for ablation devices were stopped partially or completely due to lockdown restrictions. Shortage of workforce and raw material supply also presented challenges in manufacturing.
The report offers detailed segmentation of the global ablation devices market based on type, application, and region.
Ophthalmology segment would be the most lucrative segment for investment in the ablation devices market for the new as well as existing players. This is because there are numerous players, products, and patents already available in the market for cancer and cardiology ablation devices, making the competitive rivalry intense. However, ophthalmology segment has untapped areas that could provide great opportunities for new entrants as well as existing players.
Based on region, North America and Europe have the highest growth potential due to established reimbursement policies, high buying power, rapid adoption of minimal-invasive therapies, rise in the count of aging population, and increasing prevalence of patients with chronic illnesses. However, the market would gain traction in the developing regions of Asia-Pacific and Latin America as well, due to the increase in urbanization & disposable income, large number of undiagnosed patients, and growing awareness about ablation devices.
The key players profiled in this report include St. Jude Medical, Inc., Medtronic plc, Boston Scientific Corporation, AngioDynamics, Inc., AtriCure, Inc., Conmed Corporation, Olympus Corporation, Smith & Nephew plc, BTG plc, and Johnson & Johnson. Other players in the ablation devices market include Accuray Incorporated, C.R. Bard, Inc., Varian Medical Systems, Inc., Elekta AB, Misonix, Inc., Hologic, Inc., Stryker Corporation, EDAP TMS S.A., Japan Lifeline Co., Ltd., Halyard Health, Inc., Merit Medical Systems, Inc., Integra LifeSciences Holdings Corporation, Abbott Laboratories, and Terumo Corporation.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains.