Asia Pacific Ablation Devices Market size valued at USD 1.5 billion in 2021 and is expected to exhibit around 12.6% CAGR from 2022 to 2028.
Ablation devices are medical devices that provides minimal invasive treatments to remove aberrant tissues from the body. These devices utilize the heat generated through radiofrequency, extreme cold, energy, laser to persuade minor burns. Ablation devices are used as alternative surgical treatments in ophthalmology, cancer, gynecology, and cardiovascular disorders for better procedural efficacy.
Get more details on this report - Request Free Sample PDF
Growing prevalence of several chronic diseases is one of the major factors augmenting the industry growth. Further, several governments undertaking initiatives to broaden treatment availability and accessibility to cater increasing patient population will contribute to the market growth. Furthermore, increase in patient preference towards minimally invasive procedures coupled with growing awareness regarding advanced treatment procedures will positively influence the market demand.
Although the COVID-19 pandemic has negatively influenced the sales of ablation devices. The market garnered attention as the frequency of COVID-19 cases declined in 2021. The availability of treatment and preventive care for COVID-19 virus leading to a lower mortality and infection severity has permitted regular practise of elective procedures in healthcare organisations. Thus, the growing number of patient admissions for elective procedures in clinical settings had favourable impact the industry demand.
The Asia Pacific ablation devices market from radiofrequency devices segment accounted for more than USD 800 million revenue in 2021, owing to the increasing prevalence rate of chronic diseases, rising availability of advanced technology enabled devices and growing demand for minimally invasive procedures. Additionally, rising awareness initiatives about advanced treatment procedural alternatives in developing nations such as China and India will offer substantial segment growth opportunities. Moreover, Radiofrequency devices offers several benefits including minimal scarring, enhanced recovery rate, reduced side effects, and minimal damage to the surrounding tissues.
The cardiology segment will surpass USD 1,500 million revenue by 2028, due to the high incidence rate of cardiovascular disorders such as atrial fibrillation, hypertension, tachycardia, and cardiac arrhythmia. Growing adoption of several risk factors such as smoking, alcohol intake, unhealthy lifestyle and obesity are considerably contributing to the cardiovascular disease burden. Moreover, rapid growth of geriatric population in developing nations leads to the higher incidence of cardiovascular diseases.
Get more details on this report - Request Free Sample PDF
The hospitals segment held over 50% Asia Pacific ablation devices market share in 2021, attributed to the increasing adoption of advanced ablation devices in the settings. Also rising government funding for hospital infrastructure leads to surge in spending ability of hospital settings on technologically advanced products. Moreover, presence of skilled personnel and availability of advanced equipment for screening, diagnostic and treatment of several chronic diseases will propel patient preference for hospital.
China ablation devices market dominated around 27% revenue share in 2021. Increasing geriatric population is expected to enhance demand for ablation treatment procedures. Moreover, higher chronic disease burden in the country will fuel the procedural volume thereby, accelerating demand for ablation devices. Furthermore, increasing awareness initiatives to expand treatment accessibility in remote areas will contribute to the industry expansion. Further, high disposable income, developing healthcare infrastructure, high healthcare spending will drive the market growth.
Major players involved in the Asia Pacific ablation devices market include Alcon Laboratories, Abbott Laboratories, AngioDynamics, Bausch & Lomb Incorporated, AtriCure, Inc, Biotronik SE & Co. KG, CONMED Corporation, Boston Scientific Corporation, Elekta AB, Varian, Medtronic plc, Olympus Corporation, and Ethicon, Inc (Johnson & Johnson) among others.
These companies are continuously implementing several growth strategies such as acquisitions & merger, product launches, partnerships and collaborations to strengthen product portfolio and cater large patient pool. For instance, in November 2021, Medtronic plc. launched the Arctic Front cardiac cryoablation catheter system to treat atrial fibrillation in India. These has strengthened company’s product offerings in the market.