At 9.1% Global CAGR of Ablation Technology Market Size Worth $8,299.72 Million by 2028: Zion Market Research
NEW YORK, April 27, 2022 /PRNewswire/ -- As per Zion Market Research study, The global ablation technology market was worth around USD 4,921.70 million in 2021 and is estimated to grow to about USD 8,299.72 million by 2028, with a compound annual growth rate (CAGR) of approximately 9.1 percent over the forecast period. The report analyzes the ablation technology market's drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the ablation technology market.
Key Industry Insights & Finding of the Ablation Technology Market Reports:
- As per the analysis shared by our research analyst, the Ablation Technology Market is expected to grow annually at a CAGR of around 9.1% (2022-2028).
- Through the primary research, it was established that the Ablation Technology Market was valued approximately USD 4,921.70 Million in 2021 and is projected to reach to roughly USD 8,299.72 Million by 2028.
- The ablation technology market in North America is also anticipated to have a bright outlook owing to the presence of developed healthcare infrastructure and the rising popularity of minimally invasive surgeries will drive the market growth.
- The increasing prevalence of multiple diseases, increasing focus on healthcare, and increasing use of technology are expected to be the major factors propelling the ablation technology market growth in this region through 2028.
Ablation Technology Market: Overview
Ablation Technology is widely used for the treatment of cancer patients and is a relatively new technology in the world of cancer treatments. Rising focus on improving the global healthcare infrastructure and increasing technological proliferation in healthcare are expected to be major trends driving the ablation technology market growth in the long run.
The rising geriatric population, increasing research and development activity in the healthcare industry, growing instances of cancer among the population, and increasing demand for minimally invasive procedures are some major factors that will propel ablation technology market growth over the forecast period.
However, the lack of awareness, concerns regarding the efficacy of the ablation technology and frequent product recalls of ablation technology treatment products are expected to have a hindering effect on the ablation technology market potential through2028.
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Industry Dynamics:
Ablation Technology Market: Growth Dynamics
- Increasing Popularity of minimally invasive Procedures
Minimally invasive surgeries and procedures have gained massive popularity over recent years owing to the fast recovery and less inconvenience that they offer against invasive procedures. Increasing preference of patients for less hospitalization, rising focus on patient safety, and increasing instances of hospital-acquired infections are some factors that will favor the ablation technology market growth over the forecast period.
The use of ablation technology will also reduce the costs of surgeries and hence will be a major factor that will positively influence the ablation technology market growth in the long run.
Ablation Technology Market: Restraints
- Presence of alternative treatment procedures
Ablation Technology is not as popular as the alternative procedures that are present for cancer treatment are more preferred by patients owing to high awareness and proven efficacy in treatment. Lack of awareness, less availability, and regulatory concerns regarding the use of ablation technology in treatment are expected to majorly hamper the ablation technology market growth.
Ablation technology companies can focus on creating awareness and boosting their revenue potential over the forecast period. Government initiatives to boost awareness for use of novel treatments will also help ablation technology market to overcome these restraints through 2028
Ablation Technology Market: Segmentation
- The global Ablation Technology market is segregated based on product, type, application, end user, and region.
By Product, the market is divided into Radiofrequency Ablators, Laser/Light Ablators, Ultrasound Ablators, Electrical Ablators, Cryoablation Devices, Microwave Ablators, hydrothermal/Hydromechanical Ablators. The radiofrequency ablators segment is expected to have a dominant outlook over the forecast period owing to rapid adoption by multiple ablation technology companies.
By Application, the Ablation Technology market is segmented into Cardiovascular Disease Treatment, Cancer Treatment, Ophthalmologic Treatment, Pain Management, Gynecological Treatment, Urological Treatment, Orthopedic Treatment, Cosmetic/ Aesthetic Surgery, and Other Treatments. The cardiovascular treatment segment is expected to have a bright outlook over the forecast period. Increasing instances of cardiovascular diseases and increasing advancements in cardiovascular treatments are expected to propel this segment growth through 2028.
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Recent Developments
- In June 2021 – Boston Scientific, a leading name in the healthcare industry announced the acquisition of FARAPULSE whose notable pulsed-field ablation technology will now be a part of Boston's product portfolio.
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List of Key Players of Ablation Technology Market:
- Medtronic plc. (Ireland)
- Johnson &Johnson (US)
- Abbott (US)
- and Boston Scientific Corporation (US)
- CONMED Corporation (US)
- Angio Dynamics Inc. (US)
- AtriCure,Inc. (US)
- Smith & Nephew plc (UK)
- Olympus Corporation (Japan)
- Varian Medical Systems (UK)
- Stryker (US)
- Dornier MedTech(Germany)
- Cynosure (US)
- InMode (US).
Key questions answered in this report:
- What are the growth rate forecast and market size for Ablation Technology Market?
- What are the key driving factors propelling the Ablation Technology Market forward?
- What are the most important companies in the Ablation Technology Market Industry?
- What segments does the Ablation Technology Market cover?
- How can I receive a free copy of the Ablation Technology Market sample report and company profiles?
Report Scope:
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Regional Dominance:
The Asia Pacific region will provide highly lucrativeopportunities for the Ablation Technology market over the forecastperiod. The increasing prevalence of multiple diseases, increasingfocus on healthcare, and increasing use of technology are expectedto be the major factors propelling the ablation technology marketgrowth in this region through 2028. India and China are expected tobe the most prominent markets in this region.
The ablation technology market in North America is alsoanticipated to have a bright outlook owing to the presence ofdeveloped healthcare infrastructure and the rising popularity ofminimally invasive surgeries will drive the market growth. TheUnited States will be the most prominent market in this region overthe forecast period.
Global Ablation Technology Market is segmented as follows:
Ablation Technology Market: By Application Outlook (2022-2028)
- Cardiovascular Disease Treatment
- Cancer Treatment
- Ophthalmologic Treatment
- Pain Management
- Gynecological Treatment
- Urological Treatment
- Orthopedic Treatment
- Cosmetic/ Aesthetic Surgery
- Other Treatments
Ablation Technology Market: By Product Type Outlook (2022-2028)
- Radiofrequency Ablators
- Laser/Light Ablators
- Ultrasound Ablators
- Electrical Ablators
- Cryoablation Devices
- Microwave Ablators
- Hydrothermal/Hydromechanical Ablators
Ablation Technology Market: By Type Outlook (2022-2028)
- Radiofrequency Ablation
- Laser/Light Ablation
- Ultrasound Ablation
- Electrical Ablation
- Cryoablation
- Microwave Ablation
- Hydrothermal/Hydromechanical Ablation
Ablation Technology Market: By End User Outlook (2022-2028)
- Hospitals, surgical centers, and ablation centers
- Ambulatory Surgical Centers
- Medical Spas & Aesthetic clinics
- Other End Users
Ablation Technology Market: By Region Outlook (2022-2028)
North America
- The U.S.
- Canada
Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
Latin America
- Brazil
- Mexico
- Rest of Latin America
Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
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