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European Ablation Device Market revenue to reach $4.5 Bn by 2028
Published Date: 2022-03-29
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European Ablation Device Market size is estimated to cross USD 4.5 billion by 2028, according to a latest forecast report by Graphical Research.
Increasing elderly population base coupled with continuous developments in ablation devices for chronic disease treatment is expected to stimulate the industry growth. The geriatric population is more susceptible to several chronic diseases such as ophthalmic disorders, heart diseases cancer, and several others. As per the European Commission’s Eurostat Statistic report, in 2019, more than 90 million individuals aged 65 years and above are living in Europe. In addition, aging produces numerous changes in the body that might lead to risks of leading chronic diseases. Thus, ablation devices have been demonstrated to be a safe and effective treatment for chronic diseases. Thus, the rising chronic disease burden in baby boomers will lead to an enhanced number of treatment procedures thereby, accelerat the market demand.
High adoption of advanced ablation technologies for the treatment of chronic diseases in developing countries will offer the market growth opportunities. With a growing target patient population in developing countries, the number of surgical procedures has been increasing steadily. Furthermore, advancements in product developments have improved the safety and efficiency of ablation treatments, resulting in greater procedural volume will propel the industry demand. Moreover, the strong presence of companies focusing on business expansion to enhance the availability and accessibility of new technologies in the region will boost the industry growth potential.
The laser/light ablation devices segment accounted for 10% market share in 2021 due to the high success rate of the treatment and reduced procedural time. Moreover, rising patient preference towards minimally invasive treatments will augment the market expansion. Increasing demand for laser ablation treatment in cancer patients for better precision will offer enormous growth opportunities with the surge in cancer disease patients in the region. Furthermore, technological advancements of laser/light ablation devices are expected to fuel the market size.
The oncology segment will to grow at 11.4% CAGR during the estimated period on account of rising prevalence rate of cancer in the region. For instance, according to the World Health Organization, cancer is the second most disease cause of death in European countries with more than 3.7 million new cases and 1.9 million deaths every year. Excessive tobacco consumption and smoking habits, obesity, physical inactivity are some of the causes contributing to the existing disease burden. To cater increasing cancer patient pool, several market participants are introducing advanced technologies thereby augment the market revenue share. Moreover, healthcare facilities are focusing on the development of sophisticated infrastructure and integration of novel technology in the settings.
Browse detailed statistical insights from the report, “Europe Ablation Devices Market Forecast 2028 By End-use (Hospitals, Ambulatory Surgical Centers), By Technology (Radiofrequency Devices, Laser/Light Ablation, Ultrasound Devices, Cryoablation Devices), By Application (Cardiology, Oncology, Ophthalmology, Gynecology, Urology, Cosmetic Surgery), Research Report, Country Outlook (Germany, UK, France, Italy, Spain, Russia, Ukraine, Poland, Switzerland, Belgium, Greece, Czech Republic, Netherlands, Sweden), COVID-19 Impact Statistics, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share” along with the table of contents (ToC) @
The ambulatory surgical center's segment held around USD 500 million revenue in 2021. Expanding the network of sophisticated facilities to cater to large patient pools in the region will accelerate the market demand. Moreover, the growing availability of a highly-skilled workforce and accessibility to advanced technologies have resulted in high patient preference for these facilities. Additionally, favorable reimbursement scenarios and the cost-effective nature of treatments in ASCs will impel the product adoption rate in near future.
UK ablation device industry will witness 10.5% CAGR through 2028 credited to growing demand for minimally invasive procedures. Further, the increasing prevalence of several chronic diseases across the nation is expected to stimulate the adoption rate of ablation procedures. Furthermore, increasing healthcare expenditure in the country is expected to augment the industry growth.. Thus, increasing healthcare spending will spur treatment accessibility. Thus, along with chronic disease, enhanced availability of advanced ablation technologies in the country.
The European ablation device market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD million from 2017 to 2028, for the following segments:
Europe Market, By Technology
- Radiofrequency devices
- Laser/light devices
- Ultrasound devices
- Cryoablation devices
Europe Market, By Application
- Cosmetic surgery
Europe Market, By End-use
- Ambulatory Surgical Centers
The above information has been provided for the following countries:
- Czech Republic
- The Netherlands