According to the New Market Research Report “Ablation Technology Market by Product (Radio Frequency, Laser, Ultrasound (ESWL, HIFU), Microwave, Electric), Application (Cardiovascular, Cancer, Gynecological, Cosmetic, Management of pain), end user (hospitals, ASC, Medical Spas) – Global Forecast to 2026 “, published by MarketsandMarkets ™, the market is expected to reach USD 8.1 billion by 2026 compared to USD 5.2 billion in 2021, at a 9.3% CAGR over the forecast period.
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The growing elderly population has also resulted in the incidence of target conditions and contributed to the demand for effective treatment. However, the reuse and reprocessing of the devices in developed countries and an unfavorable regulatory scenario are key factors limiting the growth of this market. Product recalls and therapeutic challenges related to the effectiveness of ablation products are key challenges facing industry players in the global market.
On the basis of application, the Ablation Technology market is categorized into major segments: Cardiovascular Disease Treatment, Cancer Treatment, Ophthalmic Treatment, Pain Management, Gynecologic Treatment, Urologic Treatment, Orthopedic Treatment, Cosmetic Surgery / aesthetics and other applications. The increasing prevalence of the disease 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 laser / light ablators, radio frequency ablators, ultrasonic ablators, electric ablators, cryoablation devices, microwave ablators, and hydrothermal / hydromechanical ablators. Each product class is then segmented according to its applications or its energy source. The large share of the radiofrequency ablator segment is attributed to the introduction of new products by the major market players and the increasing adoption of RF ablation technology to treat various ailments, such as cancer, heart disease. and ophthalmic diseases.
Based on the type of power source, the global ablation technology market is categorized into light / laser, radio frequency (RF), electric, ultrasonic, microwave, cryotherapy, and hydrothermal / hydromechanical ablation technologies. Lower cost of radiofrequency ablation, ease of use, and increasing geriatric population are fueling the growth of radiofrequency ablation market.
The ablation technology market, by end user, is segmented into hospitals, surgical centers and ablation centers, outpatient surgical centers (ASCs), medical spas and aesthetic centers and other end users. Rising incidence of cancer, sports injuries and heart disease is driving the growth of hospital, surgical center and ablation center market.
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North America to Dominate the Global Ablation Technology Market in 2020
The North American market dominated the market. The market growth in North America can be attributed to the early introduction of ablation technology in this region. A large number of manufacturers of ablation products and the high adoption of ablation treatment are key factors in increasing customer base in the region.
The major players in the ablation technology market are Medtronic, plc. (Ireland), Johnson & Johnson (United States), Abbott (United States), and Boston Scientific Corporation (United States) and CONMED Corporation (United States), AngioDynamics, Inc. (United States), AtriCure, Inc. (United States), Smith & Nephew plc (United Kingdom), Olympus Corporation (Japan), Varian Medical Systems (United Kingdom), Stryker (United States), Dornier MedTech (Germany), Cynosure (United States United States) and InMode (United States), among others.
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