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Thermal Ablation Devices Market growing at a CAGR of 6.7% By 2025
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Global Thermal Ablation Devices Market: Segmental Insights
The global thermal ablation devices market has been segmented by components, by end user and by region.
By region, Europe is expected to portray high lucrativeness in the coming years. The thermal ablation devices market in Europe is estimated to reach a higher value of more than US$ 2.3 Bn by the end of the assessment year. Asia pacific region also radiates high potential. The market in Asia Pacific is expected to be the second largest compared to the market in North America, Latin America and MEA and is projected to grow at the highest pace during the forecast period to register a CAGR of 7.2%
By components, the probes segment is the leading segment as it showcases higher valuation by the end of the assessment year. The probes segment is poised to grow at a higher CAGR of 6.8% throughout the period of assessment, 2017-2025
By end user, hospitals have shown increased adoption of thermal ablation devices since past couple of years. This segment is highly attractive and is estimated to be the largest end user segment in the coming years. The hospitals segment is projected to grow at a high CAGR of 6.8% throughout the period of forecast
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Global Thermal Ablation Devices Market: Forecast Analysis
The global thermal ablation devices market is expected to grow at a high pace in the future. The global market is anticipated to reach a value of more than US$ 8 Bn by the end of the forecast period from a value of around US$ 4.7 Bn in 2017, growing at a CAGR of 6.7% throughout the period of assessment.
Global Thermal Ablation Devices Market: Growth Influencing Factors
Factors such as increasing demand for minimally invasive procedures, technological advancements expanding the scope of thermal ablation products, higher prevalence of atrial fibrillation, emergence of next generation thermal ablation products and technologies, favorable reimbursement scenario, high safety associated with thermal ablation procedure, rising economic condition and improvement in healthcare infrastructure, high prevalence of cancer, increasing partnerships, adoption of advanced thermal ablation devices, rising mergers and acquisitions to enhance thermal ablation device product portfolios, rising adoption of radiofrequency ablation for pain management, enhanced product distribution network, increasing adoption of smart catheters and growing use of microwave ablation are supporting the growth of the global market for thermal ablation devices. Also, factors like high costs associated with the thermal ablation devices, less availability of pain management therapeutics at low cost and development of advanced alternative therapeutics are posing hindrances to the growth of the global thermal ablation devices market.
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Global Thermal Ablation Devices Market: Competitive Landscape
Research study on thermal ablation devices market includes profiles of key players such as Medtronic Plc., Boston Scientific Corp., Smith & Nephew Plc., AngioDynamics, Inc., Abbott Laboratories, Stryker Corporation, Atricure, Inc., Halyard Health, Inc., Hologic, Inc., Johnson & Johnson and Olympus Corporation.
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