Ablation Technologies Market - Growth, Trends, and Forecast (2020 - 2025)

Rising incidences of diseases such as cancer and cardiac ailments are expected to boost the demand for ablation procedures. The technological advancements to design high-end products and a growing demand for treatment procedures, which are minimally invasive are also expected to boost the ablation technologies market. Furthermore, the rising number of the aging population having a higher risk of target diseases is another vital factor driving the demand for ablation procedures.

However, product recalls by companies are also hindering the growth of the market. Stringent regulatory framework leading to an increase in the gestation period for product launches is also a market challenge.

Key Market Trends

Application of Ablation Devices in Cancer Treatment is Expected to register a High CAGR

Increase in numbers of cancer patients has driven the market growth. According to World Health Organization (WHO) 2018 data on cancer, the global cancer burden is estimated to have risen to 18.1 million new cases and 9.6 million deaths in 2018. Moreover, Cancer Research UK suggests that the population suffering from cancer is expected to increase in the future. As per the report, if recent trends in incidence of major cancers and population growth are consistent, it is predicted there will be 27.5 million new cancer cases worldwide each year by 2040. This is an increase of 61.7% from 2018.

Cancer ablation is a minimally invasive surgical method to treat solid cancers. Special probes are used to “burn” or “freeze” cancers without the usual surgery. Computed Tomography (CT), Ultrasound (US) or Magnetic Resonance Imaging (MRI) is used to guide and position the needle probe into the tumor. Therefore as the demand for minimally invasive surgeries is increasing, the demand for this alternative to cancer treatment is also increasing. Hence all these factors are expected to dominate the market.

North America is Expected to Dominate the Ablation Technologies Market

The North American countries of the United States (US) and Canada have a developed and well-structured health care system. These systems also encourage research and development. These policies encourage global players to enter USA and Canada. Moreover, the adoption rate of newer technologies and deamand for miniamally invasive treatments is also high in these countries.

North America is also found to be the largest consumer of ablation technology due to introduction of ablation technology in earlier stages. Increased awareness regarding various treatments using ablation technologies has helped this market to grow. As a result, these countries enjoy the presence of many global market players. As high and increasing demand is met by the presence of global players in the region, the market is further expected to increase.

Competitive Landscape

Majority of the ablation technologies are being manufactured by the global key players. Market leaders are increasing fundings for research & development and have retained their position in the market. Moreover, Asia-pacific is witnessing an emergence of some small players due to the lucrative growth rate and opportunities of this market. This has also helped the market grow.

Reasons to Purchase this report:

• The market estimate (ME) sheet in Excel format.
• Report customization as per the client's requirements.
• 3 months of analyst support.

This product will be delivered within 2 business days.