Ablation has become extremely popular around the world
because it provides minimally invasive options for removing tissues or tumours
with minimum pain and a shorter recovery time than open surgical procedures.
Ablation device demand is predicted to rise as the global incidence of chronic
diseases, particularly tumorigenic cancer and other cardiovascular conditions,
rises. According to the World Health Organization, chronic diseases are the
leading cause of death, accounting for approximately 38 million deaths
worldwide in 2015. (WHO).
Market Analysis and
Insights
One of the primary factors driving the growth of the ablation
devices market is the rising prevalence of chronic and cardiovascular
diseases. The increase in the senior population prone to diseases, as well as
the rise in consumer inclination towards minimally invasive operations due to
their many benefits such as faster recovery and reduced discomfort, are driving
the ablation devices market expansion. The growing popularity of RF ablation in
cancer treatment, as well as the introduction of next-generation ablation
products and technologies, have a positive impact on the ablation devices
industry. Furthermore, the ablation devices market benefits from increased
private and public sector healthcare financing, acceptance of sophisticated
technologies, increased healthcare expenditure, research and development
efforts, and increased investments. Furthermore, in the forecast period of 2021
to 2028, technical advancements and new product releases provide profitable
opportunities for ablation devices market players.
On the other hand, the ablation devices market is projected
to be hampered by an unfavourable regulatory environment as well as concerns
with device reuse and reprocessing in underdeveloped nations. In the forecast
period of 2021-2028, product recalls are expected to pose a challenge to the
ablation devices market.
Global Ablation
Devices Market - Restraints
Increased FDA recalls are projected to stifle growth in the
ablation devices market over the forecast period. For example, the United
States Food and Drug Administration (USFDA) recalled the Cardiac Ablation
Percutaneous Catheter developed by Boston Scientific Corporation in November
2018 under a Class 3 Device Recall because the supplier had changed its resin
sub-suppliers three (3) times without notifying Boston Scientific Corporation.
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