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Ablation Devices Market– Insights

Ablation has gained immense popularity all over the world as it offers minimally invasive solutions for the removal of tissues or tumors with bearable pain, and a lesser recovery period compared to open surgical procedures. Demand for ablation devices is expected to increase owing to increasing incidence of chronic diseases, mainly tumorigenic cancer and other cardiovascular disorders, across the globe. Chronic diseases are the major cause of mortality which resulted in over 38 million deaths worldwide in 2015, according to the World Health Organization (WHO).

Moreover, according to the WHO, in 2015, cancer was one of the leading causes of death, accounting for up to 8.8 million deaths. According to the Centers of Disease Control and Prevention (CDC), in 2016, an estimated 2.7 to 6.1 million people in the U.S. suffered from atrial fibrillation. Moreover, the same fact sheet states that around 2% of people younger than the age of 65 years are affected with atrial fibrillation. High prevalence of such diseases is expected to boost the growth of global ablation devices market.

As Ablation are performed in the removal of certain biological substances from internal parts of the body with the help of ablation devices through various techniques such as vaporization, laser, thermal treatments, cryo-treatments, and radiation procedures among others. In the medical sector, ablation is performed usually through surgical methods for removal of biological substances such as small tumors. Other techniques adopted for the removal of infected biological tissues include chemical ablation and radiofrequency ablation.

The global ablation devices market was valued at US$ 4,290.8 million in 2019, and is expected to witness a CAGR of 10.9% over the forecast period (2019 – 2027).

Global Ablation Devices Market Share (%) Analysis, By Technology Type, 2019

Source: Coherent Market Insights Analysis (2019)

Increasing number of product launches is expected to drive growth of the global ablation devices market

Various companies are focusing on launching innovative and technologically advanced products to meet consumer demand, which is expected to drive the ablation devices market growth over the forecast period. For instance, in 2016, Medtronic Plc, launched the new Barrx 360 Express radiofrequency ablation (RFA) balloon catheter for treatment of Barrett's esophagus.

Global Ablation Devices Market - Restraints

Growth of the ablation devices market is expected to be hampered over the forecast period owing to increasing FDA recalls. For instance, in November 2018, the food and drug administration (USFDA) recalled the Cardiac Ablation Percutaneous Catheter under Class 3 Device Recall developed by Boston Scientific Corporation, as the supplier had changed its resin sub-suppliers three (3) times without notifying Boston Scientific Corporation.

Global Ablation Devices Market - Regional Insights

On the basis of region, the global ablation devices market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. North America holds a dominant position in the global ablation devices market owing to increasing launches of ablation systems. For instance, in 2016, Medtronic Plc. launched the OsteoCool radiofrequency ablation system in the US. OsteoCool RF Ablation system is a cooled radiofrequency (RF) ablation technology. It offers simultaneous, dual-probe capabilities for treating painful bone tumors.

Asia Pacific is the fastest growing region in the global ablation devices market owing to increasing prevalence of cancer in the region. For instance, according to cancer statics, 2018, around 2.25 million people are living with cancer in India.

Global Ablation Devices Market Value (US$ Mn) & Y-o-Y Growth (%), 2016-2027

Source: Coherent Market Insights Analysis (2019)

Global Ablation Devices Market Competitive Landscape

Key players operating in the global ablation devices market include Arthrex, Boston Scientific Corporation, Medtronic Plc., Intuitive Surgical, Inc., Johnson & Johnson, Inc., Halyard Health, Abbott Laboratories, EDAP TMS S.A., AtriCure, Inc., and Smith & Nephew.