Ablation Devices Market Size, Share, Growth, Trends and Industry Forecast 2033

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.

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This can be attributed to the innovation in technologically advanced ablation devices. Moreover, common occurrence of chronic diseases, such as cancer and atrial fibrillation, and the rise in awareness about the benefits of ablation techniques are anticipated to contribute towards the market growth.

According to Onkar Sumant, Research Analyst at Allied Market Research "Ophthalmology segment would be the most lucrative segment for investment in the ablation devices market for the new as well as existing players. This is because there are numerous players, products, and patents already available in the market for cancer and cardiology ablation devices, making the competitive rivalry intense. However, ophthalmology segment has untapped areas that could provide great opportunities for new entrants as well as existing players".

With the robotic ablation devices, the procedure can be conducted with miniaturization, precision, and smaller incisions. Hence, it is expected to be the fastest growing function segment. However, this technique is relatively new and expensive as compared to the conventional methods. Therefore, currently conventional ablation devices is the dominant segment in the ablation device market.

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 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%.

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.

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The key players profiled in this report include Boston Scientific Corporation, AngioDynamics, Inc., AtriCure, Inc., St. Jude Medical, Inc., Medtronic plc, Conmed Corporation, Olympus Corporation, Johnson & Johnson, Smith & Nephew plc, and BTG plc.

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