However, the coronavirus (COVID-19) pandemic has brought forth a challenging situation for players in the ablation device market. The rate at which the pandemic is spreading and the resulting humanitarian toll prevent market players from reacting accordingly. As the healthcare industry grapples with the pandemic and ever-changing patient expectations, market players are developing future-ready strategies to prepare for the humanitarian and economic concerns ahead.
The global ablation devices market was valued at USD 2.7 billion in 2018 and is expected to witness a CAGR of 11% during the forecast period (2019-2029).
“Significant reduction in morbidity, rapid discharge from hospital, minimally invasive alternatives to traditional surgical treatment, and fewer risks associated with procedures are key factors driving healthcare providers to switch to ablation devices. “.
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Key Takeaways from the Ablation Devices Market Research
- The advanced ablation catheters have become the largest segment by product type, accounting for 68% ablation devices market’s total turnover in 2018. This is attributed to the fact that this is a viable alternative management strategy and their frequent use in the clinical management of paroxysmal atrial fibrillation. In addition, improved clinical outcomes through new ablation technologies for treating most arrhythmias and certain types of structural heart diseases are responsible for their significant market share.
- Hospitals accounted for a 52% revenue share, thanks to the availability of ablation devices and trained personnel for better clinical management of various diseases in several medical fields.
- Radiofrequency has captured a major value share in the technology segment, owing to its lower potential risk and side effects, less recovery time, and effective application on patients with multiple tumors.
- By functionality, automated or robotic ablation devices are expected to grow at an impressive rate; these accounted for approximately one-third of the global ablation device market in 2018.
- Cumulatively, North America and Europe hold a major share of the global ablation devices market, with the former holding a notable share, and is expected to grow at a high CAGR during the forecast period.
- Growing prevalence of chronic diseases, high purchasing power, technological advancements and government support for quality healthcare contribute to North America’s hegemony in the ablation device market, in terms of valuable.
Ablation device manufacturers will focus on new product launchesContinuous upgrading and product launches in the ablation devices market are driving intense competition among market players. Several companies are focused on approving new products for ablation devices. For example, in February 2017, Hologic, Inc. launched a next-generation NovaSure ADVANCED global endometrial ablation (GEA) system in the United States. This system has been approved by the Food and Drug Administration (FDA). Regional and local players also implement these differentiating strategies to support their competitiveness.
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Want more information?Future Market Insights brings comprehensive research report on projected revenue growth at global, regional and country level, and provides analysis of latest industry trends in each of the sub-segments from 2014 to 2029. ablation is segmented in detail to cover all aspects of the market and present the reader with a comprehensive approach to market intelligence. The study provides compelling insights into the Ablation Devices Market based on Product Type (Bipolar Energy Ablation Devices, Cryotherapy Ablation Devices, Hydrothermal Ablation (HTA) Devices, Ablation Devices microwave endometrial ablation, thermal balloon ablation devices, advanced ablation catheters, standard ablation catheters, and MRI-guided neurosurgical ablation), technology (lasers, radiofrequency, microwave, and ultrasound), application (cardiovascular , cancer, urological, ophthalmic and other), functional (automated and conventional) and end-user (hospitals, ambulatory surgery centers, and clinics), in seven major regions.
ABLATION DEVICES MARKET TAXONOMYGlobal Ablation Devices are segmented in detail to cover all aspects of the market and present the reader with a comprehensive approach to market intelligence.
type of product
- Bipolar Energy Ablation Devices
- Cryotherapy ablation devices
- Hydrothermal Ablation (HTA) Devices
- Thermal Balloon Ablation Devices
- Advanced Ablation Catheters
- Cryoablation catheters
- Irrigated Tip RF Ablation Catheters
- Laser ablation catheters
- Standard Ablation Catheters
- Conventional radiofrequency ablation catheters
- MRI-guided neurosurgical ablation
- MRI Guided Laser Therapy Systems
- MRI-guided RF ablation systems
- MRI Guided Focused Ultrasound Systems
- Radio frequency
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