Ablation Technology Market Worth Over USD 6.7 Billion By 2024: ZMR Report

Zion Market Research has published a new report titled “Ablation Technology Market by Product Type (Hydrothermal, Microwave, Cryotherapy, Electrical, Laser, Ultrasound, and Radiofrequency), by Application (Cancer, Cardiovascular, Orthopedics, Pain Management, Urology, Gynecology, and Others), and by End-Use (Hospitals, Clinics, and Others): Global Industry Perspective, Comprehensive Analysis and Forecast, 2017 – 2024”. According to the report, global ablation technology market was valued at approximately USD 3.2 billion in 2017 and is expected to generate revenue of around USD 6.7 billion by end of 2024, growing at a CAGR of around 10.8% between 2018 and 2024.

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Minimum invasion technique along with the negligible effect on the tissues and organs surrounding the infected organ has to lead to the easy dependability of the healthcare industry on the ablation technology and it is estimated to penetrate further in the global market over the estimated period.

The global ablation technology market is primarily driven by growing prevalence of life-threatening diseases such as cancer and cardiovascular disorders across the globe. This has resulted in the upsurge need for advanced technology treatment which involves minimum invasion and has minimum side effects. These factors are anticipated to drive the ablation technology market over the forecast period. However, ablation technology can’t be used for the treatment of large tumors and its use is restricted in the remote area. These are the restraints that may affect the growth of the market. Nonetheless, growing awareness about advantages of ablation technology over conventional methods for treatment coupled with a prominent investment in ablation technology across the globe is likely to disclose the new platform for ablation technology market in the near future.

The ablation technology market is segmented on the basis of product type into hydrothermal, microwave, cryotherapy, electrical, laser, ultrasound, and radiofrequency. By product, the radiofrequency segment is estimated to cover maximum market value share due to its comparatively lower price as compared to the other technologies which make it more preferable for the patients.

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Based on application, ablation technology is segmented as cancer, cardiovascular, orthopedics, pain management, urology, gynecology, and others. By application, cancer is expected to occupy the largest market value share due to the increasing cases of cancer which has created the upsurge need for the treatment.

Based on end use, ablation technology is segmented as hospitals, clinics, and others. By end user, the hospital division is estimated to be the prominent segment and will show significant CAGR growth over estimated time.

North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa are the primary regional segments of global ablation technology market. North America is expected to remain the leading region over the forecast period in the ablation technology market. North America will witness prominent demand of ablation technology especially in the U.S. North America is anticipated to be followed by Europe. The Asia Pacific is expected to be the significantly growing region for ablation technology market during the forecast period. Moreover, the Middle East & Africa and Latin America are also estimated to show low to moderate growth for this market in the years to come.

Some of the key players in ablation technology market include among Johnson & Johnson, Boston Scientific Corporation, Medtronic plc, Medical, Inc., Olympus Corporation, Conmed Corporation, AtriCure, Inc., AngioDynamics, Inc., BTG plc, Stryker Corporation, Hologic, Inc., Misonix, Inc., Elekta AB., EDAP TMS S.A., Terumo Corporation, Abbott Laboratories, Integra Life Sciences Holdings Corporation, Merit Medical Systems, Halyard Health, Inc., and Japan Lifeline Co., Ltd., among others.

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