The ablation devices market share is expected to increase substantially in the forthcoming years, owing to the rising prevalence of cancer cases and cardiovascular ailments across the globe. Proliferating demand for minimally invasive treatments in myriad medical conditions including cardiology issues, cancer and pain management among others is also likely to fuel industry trends.
According to the National Cancer Institute, the national cancer care expenditure in the U.S. was nearly US$147.3 billion in 2017. These numbers are likely to further increase in the forthcoming years on account of a growing geriatric population and rising number of cancer cases. As per a report by the Centers for Disease Control and Prevention (CDC), cardiovascular disorders, diabetes, and cancer are among the leading causes of death and disability in the U.S. These chronic diseases jointly contribute to an annual healthcare expenditure of US$3.5 trillion in the United States.
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Growing health consciousness, a large elderly population base, and the rising incidence of cardiovascular diseases will augment the demand for ablation devices. The incorporation of advanced technologies has amplified the efficiency and reliability of the devices, which play an integral role in many surgical procedures. Various types of ablation devices are utilized in different medical procedures such as gynecology, cosmetology, oncology, cariology, and pain management.
The oncology ablation devices market outlook is expected record growth of over 9.7% through the projected timeline, attributed to better potential advantages and shorter recovery periods as compared to open surgeries. Ablation devices used in oncology applications are designed to treat malignant tumors via burning or freezing.
The ablation devices market, based on technology, is categorized into hydro-mechanical, microwave, thermal, cryotherapy, ultrasound, light, radiofrequency, radiation, and electrical technologies. The radiofrequency segment accounted for a market share of over 20% in 2018 and is estimated to grow at a steady pace in the coming years. Factors such as high efficiency, ease of use, and the high adoption rate of these devices will boost overall ablation devices industry expansion.
The U.S. ablation devices market is estimated to grow significantly at a 10.5% CAGR up to 2025. The presence of favorable reimbursement policies and an expanding geriatric population base should fuel the demand for ablation devices in the country. Also, the rise in healthcare expenditure and extensive investments by ablation devices manufacturing companies will augment industry growth in the region.
Leading companies which are part of global ablation devices market include Johnson and Johnson, Alcon Laboratories, Abbott Laboratories, Atricure, Angiodynamics, CONMED, Biosense Webster, Varian, Elekta AB, Boston Scientific, and Medtronic Plc. These firms dominate the market share on account of superior brand recognition and a strong foothold in terms of financial position.
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Partial Chapter of the Table of Content
Chapter 6. Ablation Devices Market, By Product
6.1. Global market share, by product, 2018 & 2025
6.2.1. Market size, by region, 2014 – 2025 (USD Million and Units)
6.3.1. Market size, by region, 2014 – 2025 (USD Million and Units)
6.4.1. Market size, by region, 2014 – 2025 (USD Million and Units)
Chapter 7. Ablation Devices Market, By End-use
7.1. Global market share by end-use, 2018 & 2025
7.2.1. Market size, by region, 2014 – 2025 (USD Million and Units)
7.3. Ambulatory surgical centers
7.3.1. Market size, by region, 2014 – 2025 (USD Million and Units)
7.4.1. Market size, by region, 2014 – 2025 (USD Million and Units)
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