Ablation Technology Market - Emerging Trends are Expected to Boost Global Revenue


Posted June 2, 2022 by mmvaidya

The research process involved the study of various factors affecting the industry to identify the segmentation types, industry trends, key players, competitive landscape, fundamental market dynamics, and key player strategies.
 
Ablation Technology Market - Global Growth Dynamics

Driver: increasing demand for minimally invasive/non-invasive procedures

In recent years, the demand for minimally invasive procedures has witnessed a significant increase 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 quicker recovery. Minimally invasive procedures make use of advanced technologies to diagnose and treat various diseases, including 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. This helps surgeons make appropriate and exact cancer treatment plans.

The adoption of minimally invasive techniques also results in significant cost savings. A news article published on March 25, 2015, in JAMA (Journal of the American Medical Association) stated that research conducted by investigators at John Hopkins Medicine, a division of the John Hopkins University (US), showed that American hospitals could collectively save between USD 280 million and USD 340 million a year by performing MIS procedures instead of traditional surgeries. Since ablation is one of the most frequently used minimally invasive techniques for treating tumors, AF, and uterine fibroids, the increasing demand for minimally invasive surgical procedures will increase procedural volumes and contribute to market growth.

Expected Revenue Gains:

The ablation technology market is projected to reach USD 8.1 Billion by 2026 from USD 5.2 Billion in 2021, at a CAGR of 9.3% during the forecast period.

Downlaod PDF [email protected]
https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=791

Restraint: Strong market positioning 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 key restraint to market growth. For instance, therapies such as surgery, chemotherapy, and radiation therapy are preferred in cancer treatment due to the high awareness among individuals about traditional cancer treatments, the low adoption of advanced treatment options (especially in developing countries), and the reluctance among oncologists to shift from conventional treatment options.

Opportunity: Growth potential in emerging economies

Emerging markets, including India, China, Mexico, and Brazil, offer significant growth opportunities in the ablation technology market, owing 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. Moreover, these regions have reported growth in the incidence and prevalence of lifestyle diseases such as cardiac diseases and cancer.

Challenge: Reuse and reprocessing of devices

As per the FDA and EU guidelines, ablation catheters are labeled as single-use devices (SUDs). However, the high per-unit cost and limited reimbursement have led to reprocessing and reuse in hospitals with budget constraints. The cost incurred by a hospital/surgical center for reprocessing and reuse is less than 10% compared to the cost of a new ablation device, reducing the overall procedural cost by around 50%. Germany is among the key European countries that allow the reuse of SUDs (including ablation catheters), provided the devices are reprocessed as per regulatory guidelines. Furthermore, the US has also looked favorably on reprocessing SUDs—according to current FDA clearances, fully leveraging single-use device reprocessing can save US healthcare more than USD 700 million (Source: MPO Summit, 2021).

COVID-19 Impact on the global Ablation Technology Market

The impact of the coronavirus pandemic and the lockdown it triggered is visible in various industries, including the ablation technology market. The overall growth of various sectors has been heavily impacted, specifically in countries with a high incidence rate of COVID-19, such as China, the US, and several European countries (Russia, Italy, and Spain, among others). While industries such as oil and petroleum, aeronautics, and mining are experiencing a steep fall in revenues, the healthcare, biotechnology, and pharmaceutical industries are optimizing this situation to serve the maximum number of patients and healthcare professionals.

Request Sample [email protected]
https://www.marketsandmarkets.com/requestsampleNew.asp?id=791
-- END ---
Contact Email [email protected]
Issued By Makarand Vaidya
Country United States
Categories Industry , Medical , News
Tags ablation technology , ablation technology market
Last Updated June 2, 2022