Market Definition
Ablation therapies can be used for the treatment of various diseases across several medical fields such as ophthalmology, cancer, gynaecology, and cardiovascular. It is less painful than conventional surgical operations, and it is a minimally invasive procedure, leading to a shorter recovery time. Adding to that, it causes very little damage to the surrounding tissues. Even though it lowers the side effects, it also has some disadvantages. For example, large and bulky tissues cannot be treated with ablation, such as bone and neck nodules. Also, the availability of ablation treatment in remote locations is quite restricted.
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Market Outlook
Growing demand for minimally invasive/non-invasive procedures
In current times, the demand for minimally invasive procedures has witnessed a significant raised owing to the advantages offered by these procedures over traditional treatment procedures—fewer operative complications, shorter hospitalization, less pain, smaller & more cosmetic incisions, lower risk of infection, reduced post-operative care, and rapid recovery. Minimally invasive procedures make use of advanced technologies to diagnose and manage various diseases, comprising cancer. These procedures are used to remove cancer tumors and lymph nodes without scarring. Minimally invasive techniques also assist surgeons in collecting tissues for biopsy and accurate staging studies.
Market Opportunities
Growth capabilities of emerging economies
Emerging economies, such as India, China, Mexico, and Brazil, offer significant growth opportunities in the ablation technology market, due to factors such as initiatives undertaken by stakeholders across these countries, low regulatory barriers for trade, continuous improvements in the healthcare infrastructure, growing patient population, the relatively low procedural cost for disease treatment (compared to developed countries), less stringent regulatory policies, low competition, and rising healthcare expenditure. Additionally, these regions have reported growth in the incidence and prevalence of lifestyle diseases such as cardiac diseases and cancer, which is also likely to boost the growth of the market.
Market Restraints
Strong market standing of alternative therapies
The availability of effective conventional first-level therapies for the treatment of liver cancer, uterine fibroids, hemorrhagic stroke, and other hemorrhagic conditions is a major restraint to market growth. For example, therapies such as surgery, chemotherapy, and radiation therapy are preferred in cancer treatment owing to the high awareness among individuals about traditional cancer treatments, the low adoption of advanced treatment options (majorly in developing countries), and the hesitance among oncologists to shift from conventional treatment options.
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Research Objectives
• Estimates and forecast the overall market size for the total market, across product, service type, type, end-user, and region
• Detailed information and key takeaways on qualitative and quantitative trends, dynamics, business framework, competitive landscape, and company profiling
• Identify factors influencing market growth and challenges, opportunities, drivers and restraints
• Identify factors that could limit company participation in identified international markets to help properly calibrate market share expectations and growth rates
• Trace and evaluate key development strategies like acquisitions, product launches, mergers, collaborations, business expansions, agreements, partnerships, and R&D activities
• Thoroughly analyze smaller market segments strategically, focusing on their potential, individual patterns of growth, and impact on the overall market
• To thoroughly outline the competitive landscape within the market, including an assessment of business and corporate strategies, aimed at monitoring and dissecting competitive advancements.
• Identify the primary market participants, based on their business objectives, regional footprint, product offerings, and strategic initiatives
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Market Segmental Analysis
The global ablation technology market is segmented into technology, application, and end-users.
Market Players of Global Ablation Technology Market
The key players in the global ablation technology market are Medtronic, plc., Johnson & Johnson, Abbott, Boston Scientific Corporation, CONMED Corporation, AngioDynamics, Inc., AtriCure, Inc., Smith & Nephew plc, Olympus Corporation, Varian Medical Systems, Stryker, Dornier MedTech, Cynosure, and InMode among others.
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Research Scope
• Scope – Highlights, Trends, Insights. Attractiveness, Forecast
• Market Sizing – Product Type, End User, Offering Type, Technology, Region, Country, Others
• Market Dynamics – Market Segmentation, Demand and Supply, Bargaining Power of Buyers and Sellers, Drivers, Restraints, Opportunities, Threat Analysis, Impact Analysis, Porters 5 Forces, Ansoff Analysis, Supply Chain
• Business Framework – Case Studies, Regulatory Landscape, Pricing, Policies and Regulations, New Product Launches. M&As, Recent Developments
• Competitive Landscape – Market Share Analysis, Market Leaders, Emerging Players, Vendor Benchmarking, Developmental Strategy Benchmarking, PESTLE Analysis, Value Chain Analysis
• Company Profiles – Overview, Business Segments, Business Performance, Product Offering, Key Developmental Strategies, SWOT Analysis
• Market Size in 2021 – $4,7 bn
• Market Size in 2031 – $10.8 bn
• CAGR % – 8.7%
• Historic Period – 2015-2020
• Forecast Period – 2022-2031
• Base Year – 2021
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