Friday, April 8, 2022

Ablation Technology Market - Emerging Trends & Global Future Forecasts

 Overview:


This study involved the extensive use of both primary and secondary sources. 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.

Projected Revenue Surge:

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.

Growth Influencing Factors:

The growing elderly population has also driven the incidence of target conditions and contributed to the demand for effective treatment. However, the reuse and reprocessing of devices in developed countries and unfavorable regulatory scenario are key factors limiting the growth of this market. Product recalls and therapeutic challenges related to the efficacy of ablation products are key challenges faced by industry players in the global ablation technology market.

Download PDF Brochure@ 
https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=791

Research Methodologies Followed for This Study:

Primary Research:

Primary research was conducted after acquiring extensive knowledge about the global ablation technology market scenario through secondary research. Primary interviews were conducted with market experts from both the demand-side (such as hospitals, research universities, academic institutions, and government institutions, among others) and supply-side respondents (such as presidents, CEOs, vice presidents, directors, general managers, heads of business units, and senior managers) across five major geographies, namely, North America, Europe, the Asia Pacific, Latin America, and the Middle East, and Africa.

Approximately 30% of the primary interviews were conducted with stakeholders from the demand side, while those from the supply side accounted for the remaining 70%. Primary data for this report was collected through questionnaires, emails, and telephonic interviews.

Secondary Research:

The secondary research process involves the widespread use of secondary sources, directories, databases (such as Bloomberg Businessweek, Factiva, and D&B), white papers, annual reports, companies house documents, investor presentations, and SEC filings of companies. Secondary research was used to identify and collect information useful for the extensive, technical, market-oriented, and commercial study of the ablation technology market. A database of the key industry leaders was also prepared using secondary research.

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%. 

Request Sample Pages@ 
https://www.marketsandmarkets.com/requestsampleNew.asp?id=791

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)

No comments:

Post a Comment