According to the latest report published by Credence Research, Inc. “Ablation Devices industry (Electrical, Radiofrequency, Cryoablation, Radiation, Laser, Ultrasound, Microwave & Hydrothermal Ablation; Device Types & Applications) : Growth, Future Prospects & Competition Assessment, 2016-2023,” the global ablation devices industry was valued at USD10.6 Bn in 2015, and is expected to reach USD21.3 Bn by 2023, expanding at a CAGR of 9% from 2016 to 2023.
Ablation is a minimally invasive therapeutic procedure used for destruction and dissection of diseased tissue. Ablation is commonly used for treatment of conditions such as cancer, ophthalmic disorders urologic diseases, gynecological conditions and orthopedic disorders. Based on device type, this report categorizes ablation devices industry into generators, catheters and probes, and disposables and accessories. Generators due to their higher prices and augmenting installation base is the largest device segment in the industry.ablation-devices-industry-by-device
Browse the full report Ablation Devicesindustry – Growth, Future Prospects, Competition Assessment, 2016–2023 report at http://www.credenceresearch.com/report/ablation-devices-market
The overall ablation devices industry is technologically driven. Other major drivers of this industry are growing incidence of chronic target diseases such as cancer and CVD, technological advancements, growing demand for minimally invasive procedures, and rapid growth in the pool of high-risk geriatric population. Conversely, stringent approval requirements and high cost of equipment are the major set of challenges faced towards the industry progression. Ablation devices industry is highly competitive with existence of a multitude of players closely competing to augment their foothold in the industry.
Among the energy types used for delivering ablation, radiofrequency is the most sought technology and has the highest number of products commercially available. Other key segments include ultrasound ablation, laser ablation and electrical ablation. High safety of RF ablation is the key factor contributing to the dominance of RF ablation devices in the global industry. However, with the emergence of novel technologies such as cryoablation and microwave ablation, the demand for RF ablation will experience a slight competition, yet not a complete upset in the overall industry situation. The growth of microwave ablation segment is high primarily due to high successful treatment outcomes in cancer and efficiency in producing larger ablation zones as against RF ablation.
Ablation devices are widely used in cardiovascular applications, and their demand in cardiology is anticipated to further grow during the forecast period. Domination of this segment is due to perpetual growth in incidence of cardiovascular diseases such as atrial fibrillation worldwide and introduction of novel ablation techniques for atrial fibrillation treatment. North America and Europe together are the largest regional industrys for ablation devices. Favorable reimbursement scenario, early product introductions, better awareness and high incidence of chronic diseases are the key factors that drive the dominance of North America and Europe on the global front. On the other hand, growing government healthcare expenditure, rapid evolution of healthcare infrastructure and proliferation of medical tourism will render the swift industry growth in Asia Pacific.
This industry is highly competitive and is characterized by presence of several existing players and continuous influx of new industry entrants. The existing players are increasingly focusing their growth strategies towards establishing their foothold in emerging industrys of Asia Pacific and Middle East and Africa. Key players in the global ablation devices industry are but not limited to Medtronic, Inc., St. Jude Medical, Inc., Boston Scientific Corporation, AngioDynamics, Olympus Corporation, Atricure, Smith & Nephew PLC and others.
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