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Kenneth Research has evaluated the current market opportunities in Ablation Devices Market in the healthcare industry for the forecast period 2022-2031, which also includes the ongoing industry trends and innovations that will help industry players to attain their business targets. Apart from that, the inclusive data on market size, market share and forecast, growth opportunities and challenges for the market players, along with the worldwide analysis on regions- North America, Latin America, Europe, Asia Pacific and Middle East & Africa, has also been provided in the report.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Ablation Devices Market products.
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According to a report by the World Health Organization (WHO), the total health spending is growing with an annual average rate of 6% in the low- and middle-income nations, and close to 4% in the high-income countries. Further, in the year 2016, the expenditure made on health reached close to 10% of the GDP of the world and crossed a value of USD 7 trillion.
Global Ablation Devices Market – Drivers, Opportunities, Trends, and Forecasts: 2017–2023
Overview: Ablation refers to the surgical removal of a body tissue in the form of transferring heat to the target tissue. The process is used to remove a tiny or large quantity of tissue. There are many types of ablations and have multiple techniques, which are used to perform the removal of tissue, depending on the type of tissue. A specially equipped needle is inserted near the site with image-guided modalities such as computed tomography (CT), ultrasonography, and magnetic resonance imaging (MRI). The needle is subjected to various form of electrical tests depending on the type of technology used. The techniques such as radiofrequency with radio waves, cryoablation by liquid nitrogen, and laser ablation by laser beam have proven to be beneficial for individuals who have critical medical conditions such as cardiac arrhythmias, prostate tissue, corneal surface laser ablation, tumors, and chronic pain. Based on the type, the products are classified into different categories such as radiofrequency, ultrasound, electrical, cryoablation, hydrothermal ablation, microwave ablation, and laser.
The rise in awareness about minimally invasive surgeries or procedures has created high adoption as it is less painful, performed as an outpatient procedure, and unlike traditional open surgeries, they require less cost. Minimally invasive surgeries are emerging as potential replacements for conventional therapeutic cancer surgeries for the treatment of various tumors of prostate gland, lungs, and liver. Further, robotic navigation technologies that perform ablation procedures more accurately are being incorporated to increase the popularity of these surgeries. The cost of tissue ablation treatment is directly proportional to the size of the tissue/tumor and the number of probes required for the surgery.
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The major products in the market include:
• Endostat III Bipolar/Monopolar Electrosurgical Generator
• MAESTRO 4000 Cardiac Ablation System
• Cool-tip RF Ablation System E Series
• Barrx Radiofrequency Ablation System
• Cardioblate iRF Irrigated Radiofrequency Surgical Ablation System
• Cardioblate 68000 Surgical Ablation System Generator
• CARTO 3 System
• Ethicon Endo-Surgery Generator
• GYNECARE THERMACHOICE III Uterine Balloon Therapy System
• VAPR VUE Radiofrequency System – Johnson & Johnson
• AtriCure Ablation Sensing Unit (ASU)
• BLAZER PRIME Temperature Ablation Catheter
• INTELLANAV XP & INTELLANAV MIFI XP Temperature Ablation Catheter Family
• Cardioblate MAPS Device
• Cardioblate CryoFlex Surgical Ablation Probes
• THERMOCOOL Bi-Directional Catheter
• TactiCath Quartz Contact Force Ablation Catheter
• FlexAbility Irrigated Ablation Catheter
• ViewFlex Xtra Intracardiac Echocardiography Catheter
• Monopolar Sealers PlasmaBlade Soft Tissue Dissection Devices
The market is dominated by Medtronic, St. Jude Medical (now Abbott Laboratories), Boston Scientific, Johnson & Johnson, and AngioDynamics which has more than 75% market share in the Global Ablation Devices market. The market is highly fragmented with the presence of many global and local players. The factors such as increased prevalence of chronic disorders, growing popularity about minimally invasive surgeries, focus on early prevention, and increase in disposable income are driving the market growth.
Market Analysis: The“Global Ablation Devices Market” is estimated to witness a CAGR of 10.61% during the forecast period 2017–2023. The market is analyzed based on three segments – product type, end-users, and regions.
Regional Analysis: The regions covered in the report are North America, Europe, Asia Pacific, and Rest of the World (ROW). The Americas is set to be the leading region for the ablation devices market growth followed by Europe. Asia Pacific and ROW are set to be the emerging regions. Brazil is set to be the most attractive destination, and in Latin America, the popularity and the usage of ablation procedures are expected to increase in the coming years.
Product Analysis: Consumables are the fastest growing segment and dominates the global ablation market with 47% of the total market. Cardiac arrhythmias are the most popular ablation treatment followed by cancer ablation methods in all ablation types. The increase in the prevalence of chronic disorders and growing number of ablation procedures are expected to drive the consumable market during the forecast period. The ablation catheters segment is growing at a steady rate and stands second in the global ablation market. The generator/electrosurgical unit segment is growing at a moderate growth rate and is expected to see a significant growth in the emerging markets.
Key Players: Abbott Laboratories, Boston Scientific, AngioDynamics, Johnson & Johnson, Medtronic, and other predominate & niche players.
Competitive Analysis: The Global Ablation Devices market is highly fragmented and has immense growth opportunities for vendors, especially in the developed regions. The presence of large, small, and local vendors in the market possess high competition. The vendors have a strong focus on acquiring smaller companies and expanding their business operations by leveraging their products portfolio across the globe. The competitive environment in the market will intensify further with an increase in product/service extensions, product innovations, and M&As. They form strategic alliances for the marketing or manufacturing of ablation devices products.
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Benefits: The report provides complete details about the usage and adoption rate of ablation devices for the treatment of various chronic disorders. With that, key stakeholders can know about the major trends, drivers, investments, vertical player's initiatives, government initiatives towards the ablation devices adoption in the upcoming years along with the details of pureplay companies entering the market. Moreover, the report provides details about the major challenges that are going to impact on the market growth. Additionally, the report gives the complete details about the key business opportunities to key stakeholders to expand their business and capture the revenue in the specific verticals to analyze before investing or expanding the business in this market.
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Kenneth Research provides scheduled syndicated reports that help industry professionals and organizations decipher market trends to take significant decisions and plan strategies. We cater to a wide range of industries including healthcare & pharmaceuticals, ICT & telecom, automotive & transportation, energy & power, chemicals, FMCG & food, aerospace & defense, among others. Our research team ensures to track and analyze the industry on a regular basis to offer strategic business consultancy services on a global level. We, at Kenneth Research are adept at capturing descriptive insights on crucial topics to help our clients make their informed decisions.
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James Bullock
James Bullock is a Research Expert with a demonstrated history of working in the professional training & coaching industry. Strong professional skilled in business strategy , Strategic Planning, Research Strategy, and Marketing. also have interest in new innovations and technology
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