Ablation Devices Market Size By Technology (Electrical {Electrical Ablators, Electrical Brachytherapy}, Radiation {Brachytherapy, Stereotactic Radiotherapy and Radiosurgery, Image Guided Radiation Therapy, Intensity Modulated Radiation Therapy, Stereotactic Body Radiation Therapy, Proton Beam Therapy} Radiofrequency, Light {Cold Laser, Excimer Laser}, Ultrasound {High Intensity Focused Ultrasound, Magnetic Resonance Imaging Guided Focused Ultrasound, Ultrasonic Surgical System, Shock Wave Lithotripsy}, Cryotherapy {Tissue Contact Probe, Cryogen Spray Probe, Epidermal and Subcutaneous Cryoablation Device}, Thermal, Microwave, Hydromechanical), By Product (Disposable, Capital, Reusable), By Application (Cardiology, Oncology, Ophthalmology, Pain Management, Gynaecology, Urology, Orthopaedic Treatment, Cosmetic Surgery), By End Use (Hospitals, Ambulatory Surgical Centers, Others), Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2025

Industry Trends

Ablation Devices Market size was valued at USD 12.7 billion in 2018 and is expected to witness 10.4% CAGR from 2019 to 2025. Increasing adoption of minimally invasive techniques, increasing ablation procedures, growing geriatric population, rising cases of cancer coupled with growing healthcare awareness will augment the market growth. Moreover, improving medical reimbursements and advancement in healthcare technology are factors fueling the market growth. 
 

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However, stringent government approval is one of the major reasons hindering the adoption rates. Also, complications related to ablation procedures, reuse of ablation devices in developing economies and high cost associated with ablation procedures might hamper the market growth in certain emerging regions.
 

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Ablation Devices Market, By Application

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Pain management segment is projected to expand at a CAGR of 10.8% over the estimation period from 2019 to 2025. Pain management ablation is a minimally invasive procedure in which the nerve fibers carrying pain signals to the brain are destroyed to reduce or stop the pain. This procedure provides relief for people with chronic pain in parts such as arthritic joints, lower back and neck, hence propelling the ablation devices industry growth.
 

Oncology ablation devices market was valued at USD 4,173.8 million in 2018 and is estimated to witness a considerable growth in the future. The market growth is attributed to better potential benefits than other medical treatments of cancer and lower post procedure stay in hospital in comparison to open surgery. 
 

By Product

Disposable product segment was valued at USD 5158.9 million in 2018. This segment is expected to grow at the highest CAGR during the forecast period due to low cost and repeated demand from end-users for ablation procedures. 
 

Reusable ablation devices market will grow at 10.3% through 2025. This growth is attributed to factors such as reduction in medical waste associated with reusable ablation devices and lower costs. 
 

By End-use

Application of ablation devices are the highest in hospitals resulting in major market share. The hospitals segment accounted for USD 7,912.5 million revenue in 2018. A substantial proportion of ablation procedures happen in hospital settings with the budget of hospitals being higher than other healthcare settings. During the forecast period, the hospitals end-use segment will continue to remain the largest market, owing to increasing ablation procedures in hospital settings coupled with rising supply agreements of ablation devices between manufacturing firms and hospitals. 
 

Ambulatory surgical centers are forecast to expand at 11% CAGR up to 2025. These are the most preferred setting in developed as well as developing countries. Others segment includes private clinics and other similar establishments run by single or a group of doctors. This segment has lowest market share as the budget is lower as compared to hospitals and ambulatory surgical centers. 
 

Regional Insights

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U.S. dominated the North America ablation devices market, valued at USD 4,902.1 million in the year 2018. High disposable income and various reimbursement policies will enable patients to opt for ablation procedures. Growing influence for minimally invasive medical devices will aid the growth of ablation devices business. Moreover, rising prevalence of cancer will foster country growth in foreseeable years. In future years, costs are likely to increase as the population ages and cancer prevalence increases. 
 

Asia Pacific will observe rapid growth rate of 11.2% through 2025. Emerging economies like India and China will boost the overall market growth owing to favorable government policies, growing healthcare awareness and increasing healthcare expenditure.  

Competitive Market Share

Medtronic Plc, Boston Scientific, Abbott Laboratories, Alcon Laboratories, Angiodynamics, Atricure, Biosense Webster, CONMED, Elekta AB, Varian, Johnson and Johnson are some of the major players operating effectively in the ablation devices market share. These key market participants will hold majority market share owing to strong financial position and better brand recognition. Major strategies implemented by these companies in the market include new product launches, expansion strategy, acquisition strategy, etc. with the aim to gain competitive advantage over its peers. For instance, in October 2015, AtriCure Inc. announced definitive merger agreement under which Atricure had agreed to acquire nContact Inc., a privately-held developer of innovative cardiac ablation products. 
 

Ablation devices have been in use for percutaneous coronary intervention and peripheral vascular intervention since late 1980’s and numerous upgradations have been done for optimal results. Ablation is a medical procedure for the removal of tissue by less invasive techniques. It is used to treat several medical conditions ranging from serious to cosmetic. The devices used in these procedures are called ablation devices. This industry is rapidly growing in both developed as well as developing economies. The market is growing at immense pace in developed countries owing to various technological advancements and increasing cases of cancer.
 

Demographic changes and high incidence of cancer and cardiovascular diseases across the globe will propel the growth of global market. The industry is witnessing large number of new entrants that are engaged in the development of advanced ablation devices with miniaturization to generate higher revenue. With advancements in existing technologies and rising demand of minimally invasive surgical procedures, ablation devices industry will offer promising growth opportunities in the near future.