The ablation technology market is projected to grow with a moderate CAGR during the forecast period, i.e., 2021-2029.
Research Nester released a report titled "Ablation Technology Market: Global Demand Analysis & Opportunity Outlook 2029" which delivers detailed overview of the global ablation technology market in terms of market segmentation by type, application, and region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The ablation technology market is projected to grow with a moderate CAGR during the forecast period, i.e., 2021-2029, on account of the prevalence of chronic diseases such as cancer and cardiovascular diseases. According to the World Health Organization data, cancer accounted for nearly 10 million deaths in 2020, and 17.9 million people die each year from cardiovascular diseases.
The market is segmented on type into radiofrequency, laser/light, ultrasound, electrical, cryoablation, microwave, hydrothermal, and others, out of which, the laser segment is anticipated to grab the largest share by the end of 2021 on account of being one of the minimally invasive procedures, comparatively, the laser ablation technique is less painful to other surgical treatment options.
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Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa, out of which, the market in the Asia Pacific is predicted to grow at the highest CAGR over the forecast period due to various factors such as increasing awareness about ablation technology, growing population, increasing income, eating habits, changing lifestyles, etc. Furthermore, North America overtops the overall market in terms of market share due to the growing demand for minimally invasive procedures and increasing usage rates of ablation procedures.
Increasing Incidence of Chronic diseases such as Cancer and Cardiovascular diseases to Drive the Market Growth
As per the analysis of Centers for Disease Control and Prevention, U.S, in 2018, Atrial Fibrillation was mentioned on 175,326 death certificates and was the underlying cause of death in 25,845 of those deaths.
Ablation procedures are gaining rapid popularity across the globe since they are used in minimally invasive ablation procedures. Lower risk of damage to tissues, lower risk of infection, quick recovery, and cost-effectiveness of ablation are some of the major drivers of this market. Moreover, rising incidence of cancer, growing prevalence of cardiovascular diseases such as atrial fibrillation, and increasing number of ablation procedures are the major factors driving the ablation technology market growth during the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global ablation technology market which includes company profiling of Medtronic, plc (Ireland), Biosense Webster, Inc. (U.S.), St. Jude Medical, Inc. (U.S.), Boston Scientific Corporation (U.S.), CONMED Corporation (U.S.), AngioDynamics, Inc. (U.S.), AtriCure, Inc. (U.S.), Smith & Nephew plc (U.K.), and Olympus Corporation (Japan). The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global ablation technology market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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