Ablation Technology Market Analysis and Forecast to 2031: By Technology (Radiofrequency Devices, Laser/Light Ablation, Ultrasound Devices, Cryoablation Devices, Others), Application (Cancer Treatment, Cardiovascular Disease Treatment, Ophthalmologic Treat

Ablation Technology Market Analysis and Forecast to 2031: By Technology (Radiofrequency Devices, Laser/Light Ablation, Ultrasound Devices, Cryoablation Devices, Others), Application (Cancer Treatment, Cardiovascular Disease Treatment, Ophthalmologic Treatment, Urological Treatment, Cosmetic Surgery), End User (Hospitals, Ambulatory Surgical Centres) and Region

Global Ablation Technology Market is expected to reach $10.8bn by 2031 growing at a CAGR of 8.7% between 2021 and 2031.

Ablation therapies can be used for the treatment of various diseases across several medical fields such as ophthalmology, cancer, gynaecology, and cardiovascular. It is less painful than conventional surgical operations, and it is a minimally invasive procedure, leading to a shorter recovery time. Adding to that, it causes very little damage to the surrounding tissues. Even though it lowers the side effects, it also has some disadvantages. For example, large and bulky tissues cannot be treated with ablation, such as bone and neck nodules. Also, the availability of ablation treatment in remote locations is quite restricted.

Scope of the Report

Market Drivers

Growing demand for minimally invasive/non-invasive procedures

In current times, the demand for minimally invasive procedures has witnessed a significant raised owing to the advantages offered by these procedures over traditional treatment procedures—fewer operative complications, shorter hospitalization, less pain, smaller & more cosmetic incisions, lower risk of infection, reduced post-operative care, and rapid recovery. Minimally invasive procedures make use of advanced technologies to diagnose and manage various diseases, comprising cancer. These procedures are used to remove cancer tumors and lymph nodes without scarring. Minimally invasive techniques also assist surgeons in collecting tissues for biopsy and accurate staging studies.

Market OpportunitiesGrowth capabilities of emerging economies

Emerging economies, such as India, China, Mexico, and Brazil, offer significant growth opportunities in the ablation technology market, due to factors such as initiatives undertaken by stakeholders across these countries, low regulatory barriers for trade, continuous improvements in the healthcare infrastructure, growing patient population, the relatively low procedural cost for disease treatment (compared to developed countries), less stringent regulatory policies, low competition, and rising healthcare expenditure. Additionally, these regions have reported growth in the incidence and prevalence of lifestyle diseases such as cardiac diseases and cancer, which is also likely to boost the growth of the market.

Market RestraintsStrong market standing of alternative therapies

The availability of effective conventional first-level therapies for the treatment of liver cancer, uterine fibroids, hemorrhagic stroke, and other hemorrhagic conditions is a major restraint to market growth. For example, therapies such as surgery, chemotherapy, and radiation therapy are preferred in cancer treatment owing to the high awareness among individuals about traditional cancer treatments, the low adoption of advanced treatment options (majorly in developing countries), and the hesitance among oncologists to shift from conventional treatment options.

Impact of COVID-19 on Ablation Technology Market

The impact of the COVID-19 pandemic and the lockdown it triggered is witnessed in various industries, comprising the ablation technology market. The overall growth of various sectors has been heavily impacted, specifically in countries with a high incidence rate of COVID-19, such as China, the US, and several European countries (Russia, Italy, and Spain, among others). While industries such as oil and petroleum, aeronautics, and mining are experiencing a steep fall in revenues, the healthcare, biotechnology, and pharmaceutical activities are optimizing this situation to serve the maximum number of patients and healthcare experts.

The ablation technology market witnessed a loss of business owing to unfavourable changes in regulations and guidelines. Major regulatory authorities across the globe (such as CDC, WHO, MHRA, TGA, and EMA) have acknowledged that cancer patients are at greater risk of COVID-19 infection than healthy adults. So, screening, diagnostic exams, and surgical procedures are severely restricted or postponed at hospitals and cancer care centers. This is likely to cause disruptions in the ablation technology market.

Market Segmental Analysis

The global ablation technology market is segmented into technology, application, and end-users.

Global Ablation Technology Market by Technology

The various technologies comprised in the global ablation technology market are radiofrequency devices, laser/light ablation, ultrasound devices, cryoablation devices, and others such as electrical, microwave, hydrothermal/hydromechanical.

The radiofrequency devices segment is likely to dominate the market and continue its growth with a CAGR of XX% during the projection period. The key factors such as rising adoption of RF ablation technology to cure various conditions like cancer, cardiac diseases, and ophthalmic diseases.

Global Ablation Technology Market by Application

The various applications such as cancer treatment, cardiovascular diseases treatment, ophthalmic diseases treatment, gynecological treatment, urological treatment, and cosmetic surgery are comprised in the global ablation technology market.

The cancer treatment segment is estimated to dominate the market with a growth rate of XX% during the forecast period. The key factors such as the rising prevalence of cancer and technological advancements in the healthcare industry are propelling the growth of the segment.

Global Ablation Technology Market by End User

Based on end-user, the global ablation technology market is segmented into hospitals and ambulatory surgical centres.

The hospital segment is likely to dominate the market at a constant rate of XX% during the projection period. The key factors such as the growing incidence of cancer, sports injuries, and cardiac conditions are boosting the growth of the segment.

Geographic Analysis of Global Ablation Technology Market

The global ablation technology market is studied for various key countries of regions such as North America, Europe, Asia Pacific, and the Rest of the World.

The Asia Pacific is expected to dominate the market during the forecast period. The key factors such as increasing incidences coupled with the prevalence of cancer and cardiac conditions, technological advancements in ablation products and technology, raising awareness of minimally invasive techniques, and growth opportunities in the emerging economies.

Market Players of Global Ablation Technology Market

Key Developments in Global Ablation Technology Market

• April 2021: Olympus opens new global HQ for therapeutic solutions division and U.S. Medical Business.
• January 2021: Atri Cure announced labelling expansion for Cryo Nerve block therapy.

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