(MENAFN- GlobeNewsWire - Nasdaq) New York, May 25, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Ablation Devices: Technologies and Global Markets" -
It discusses the role of supply chain members, from manufacturers to surgeons.The report also has an in-depth analysis of key companies operating in the global ablation devices market.
The in-depth patent analysis in the report identifies extensive technological trends across years and geographies such as the U.S., Europe, and Japan.
The ablation devices market is mainly segmented into thermal and nonthermal technologies.Thermal technologies are further segmented into electrical, radiation, radio frequency, light, ultrasound, microwave and hydrothermal.
The nonthermal technology market is segmented into cryotherapy and hydromechanical.The ablation devices technology market is also segmented based on products offered.
The market is geographically segmented into North America, Europe, Asia-Pacific and RoW.For market estimates, data has been provided for 2019, 2020, 2021 (which serves as the base year) and 2022, and forecasts for 2027 are given.
The report also covers market share for major market players. It includes the company profiles of the major players with brief overviews about their business segments, financials, product portfolios, recent developments, and pipeline products. It also provides the impact of the COVID-19 pandemic on this market. Companies profiled in this report include Conmed, Siemens Healthineers, Medtronic Inc., Boston Scientific Corp., Olympus Corp., Smith & Nephew and others.
Report Includes:
- 116 data tables and 33 additional tables
- An overview of the global market and technologies for ablation devices
- Estimation of the market size and analyses of global market trends, with data from 2019-2021, estimates for 2022 and projections of compound annual growth rates (CAGRs) through 2027
- Highlights of the current and future market potential and quantification of ablation devices market based on technology, product category, therapeutic segment, procedure, and region
- Analysis of underlying technological, environmental, legal/regulatory, and political trends that may influence the size and nature of the market
- Market share analysis of the key companies of the industry and coverage of their proprietary technologies, strategic alliances, and other key market strategies
- Comprehensive company profiles of the leading players of the industry, including Conmed, Siemens Healthineers, Medtronic Inc., Boston Scientific Corp., Olympus Corp., and Smith & Nephew
Summary:
The ablation devices market is expected to grow at a healthy rate as this procedure often offers a better alternative to conventional surgeries chiefly due to its minimally invasive nature.Various technologies and devices are meant to be used for ablation therapies depending on the targeted diseases.
The factors driving the market are technological advancements, the high risk of chronic diseases, the less time required for ablation therapies, the minimum damage done to healthy tissues and lower blood loss. Various factors restraining the market are stringent regulations and insurance reimbursement issues. Recent advancements in automation (robotic catheter ablation procedures) are also boosting the
market's growth.
The increasing prevalence of surgical procedures worldwide drives the demand for ablation devices. According to the National Library of Medicine, REDACTED million major surgeries are performed yearly, witharound REDACTED to REDACTED million surgeries taking place in the U.S. alone. Also increasing prevalence of life –threatening diseases such as cancer, cardiovascular diseases (CVD) and chronic diseases is one of the keyfactors driving the growth of the market. According to theWorld Health Organization, REDACTED million deathsoccurred due to CVD in 2019. According to the estimates of the American Cancer Society 2023, approximately REDACTED million new cancer cases are expected to be diagnosed in the U.S. in 2023, and REDACTED deaths from cancer are expected in the U.S. in 2023.
Although these trends support growth, the ablation devices market faces the challenge of there being a general lack of awareness about this technology.The market has been established in North America and Europe, which currently are the leaders in revenue sharing.
However, the growth opportunities are better in emerging economies, especially Brazil, Russia, India and China (BRIC) nations, due to an increased level of awareness as well as an increase in per capita income. Moreover, the increased focus of manufacturers toward emerging economies and innovative formulas to sell in emerging markets instead of reinventing the wheel are further boosting the market's growth.
Under thermal technologies, the market is also segmented based on electrical ablation, radio frequency, ultrasound, microwave, etc.The nonthermal technologies include hydromechanical and cryoablation technologies.
Electrical ablation technology has been the market leader because of its early adoption. However, technological advancements in radio frequency, microwave and cryoablation technologies can expect a sustainable growth rate.
Other market segments are classified according to the procedures and therapies that use ablation technologies and products to treat various diseases. The procedures market is segmented into aesthetics-skin rejuvenation and tightening, aesthetics-body sculpting, fat reduction, the reduction in the appearance of cellulite, benign prostatic hyperplasia, transurethral needle ablation, laser- and other energy-based therapies/holmium laser ablation/enucleation of the prostate, photoselective vaporization of the prostate, atrial fibrillation, cancer/tumor ablation, menorrhagia/endometrial ablation, spinal decompression and denervation, stress urinary incontinence, varicose vein ablation, uterine fibroids and others.
Read the full report:
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