The global Ablation Technology Market in terms of revenue was estimated to be worth $5.2 billion in 2021 and is poised to reach $8.1 billion by 2026, growing at a CAGR of 9.3% from 2021 to 2026. The new research study consists of an industry trend analysis of the market. The new research study consists of industry trends, pricing analysis, patent analysis, conference and webinar materials, key stakeholders, and buying behaviour in the market.
The growing elderly population has also driven the incidence of target conditions and contributed to the demand for effective treatment. However, the reuse and reprocessing of devices 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 key challenges faced by industry players in the global ablation technology market.
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Ablation Technology Market Key Players
The prominent players in the 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).
In terms Application, the cardiovascular treatment segment is expected to account for the largest share of the ablation technology market in 2020.
Based on application, the ablation technology market is classified into major segments—cardiovascular disease treatment, cancer treatment, ophthalmological treatment, pain management, gynecological treatment, urological treatment, orthopedic treatment, cosmetic/aesthetic surgery, and other applications. Rising disease prevalence and technological advancement in this field will boost market growth.
In terms of product segment, radiofrequency ablators segment is expected to account for the largest share during the forecast period.
Based on product, the global ablation technology market is classified into light/laser ablators, radiofrequency ablators, ultrasound ablators, electrical ablators, cryoablation devices, microwave ablators, and hydrothermal ablators/hydromechanical ablators. Each product class is further segmented based on its applications or source of energy.The large share of radiofrequency ablators segment is attributed to the introduction of novel products by major market players and the increasing adoption of RF ablation technology to treat various conditions, such as cancer, cardiac diseases, and ophthalmic diseases.
In terms of type segment, radiofrequency ablation segment is expected to account for the largest share during the forecast period.
Based on the type of energy source, the global ablation technology market is classified into light/laser, radiofrequency (RF), electrical, ultrasound, microwave, cryotherapy, and hydrothermal / hydromechanical ablation technologies. The lower cost of radiofrequency ablation, its ease of use, and the rising geriatric population fuel the growth of the radiofrequency ablation market.
The hospitals, surgical centers, and ablation centers segment is expected to register the highest CAGR during the forecast period
The ablation technology market, by end user, is segmented into hospitals, surgical centers, and ablation centers, ambulatory surgical centers (ASCs), medical spas & aesthetic centers, and other end users. The increasing incidence of cancer, sports injuries, and cardiac conditions is driving the growth of the ablation technology market for hospitals, surgical centers, and ablation centers segment.
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Asia Pacific market is expected to grow at the highest CAGR during the forecast period.
The ablation technology market covers five key geographies—North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. In 2020, Asia Pacific region offered significant opportunities for the growth of the ablation technology market. The market growth in Asia Pacific can be attributed rising incidence and prevalence of cancer and cardiac conditions, technological advancement in ablation product and technology, increasing awareness of minimally invasive techniques and growth opportunities in the emerging markets.
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