Ablation Devices Market growing a CAGR of 11.7% Projected to Reach $6,658 million by 2022

Ablation is a minimally invasive procedure that treats various chronic diseases such as cancer and pulmonary conditions, as well as used for aesthetic procedures. The market is expected to grow at a significant rate due to various advantages of ablation procedures (short time duration, minimized blood loss and damage to healthy organs and tissues, operator friendly) over conventional methods such as chemotherapy, as it has high side-effects.

The introduction of innovative and advanced ablation technologies and the increase in the prevalence of chronic diseases and awareness about the procedure would contribute towards the market growth. However, the market growth is hindered by unstable reimbursement policies, stringent government regulations, limited awareness, and high cost of the procedure.

Ablation Devices Market Report, published by Allied Market Research, forecasts that the global market is expected to garner $6,658 million by 2022, registering a CAGR of 11.7% during the period 2016-2022. Thermal ablation devices segment is estimated to dominate the market throughout the analysis period. About two-thirds of the world ablation devices market share was captured by cardiovascular and cancer segment in 2015.

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Presently, North America and Europe have the highest growth potential due to established reimbursement policies, high buying power, rapid adoption of minimal-invasive therapies, rise in the count of aging population, and increasing prevalence of patients with chronic illnesses. However, the market would gain traction in the developing regions of Asia-Pacific and Latin America as well, due to the increase in urbanization & disposable income, large number of undiagnosed patients, and growing awareness about ablation devices.

Key findings of the Ablation Devices Market:

• Varicose veins segment is estimated to exhibit a CAGR of 15.6%, among procedure types.
• Cardiovascular is anticipated to be the fastest growing segment throughout the analysis period.
• Epidermal and subcutaneous cryoablation devices are the fastest growing sub-markets from cryoablation devices segment.
• Turkey ablation devices market is projected to grow at a CAGR of 10.8%.
• Automated/robotic ablation devices market is projected to grow at a CAGR of 14.3%.

By procedure, tumor ablation segment occupies the largest share in the ablation device market and is expected to maintain its lead throughout the analysis period. The number of cancer cases are increasing and it is one of the leading causes of morbidity and mortality in the world. For instance, in 2012, there were about 14 million new cases and 8.2 million cancer-related deaths.

Key players in the market:

• Boston Scientific Corporation
• AngioDynamics Inc.
• AtriCure Inc.
• St. Jude Medical Inc.
• Medtronic plc
• Conmed Corporation
• Olympus Corporation
• Johnson & Johnson
• Smith & Nephew plc
• BTG plc.

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