Ablation devices are gaining importance worldwide due to their proven procedural efficacy, improved safety profiles, and awareness of current asymptomatic procedural events. in the last decade, ablation devices have undergone significant technical improvements. These devices offer the benefits of improved quality of life, patient safety, and clinical efficiency, and are used as first-line therapy.
The decrease in long-term hospitalizations and minimal invasion are crucial factors that are expected to drive the growth of the ablation devices market in the coming years. Ablation devices have gained clinical importance due to effective treatment in various medical applications, as well as shorter recovery times with affordable, minimally invasive procedures. In addition, the increasing prevalence of chronic diseases such as cardiovascular diseases and tumors are expected to boost the market growth.
However, the coronavirus (COVID-19) pandemic has presented a challenging situation for the players in the ablation device market. The speed at which the pandemic is spreading and the resulting humanitarian toll are making it difficult for market participants to respond appropriately. As the healthcare industry tackles the pandemic along with ever-changing patient expectations, market participants are developing forward-thinking strategies to prepare for the humanitarian and economic concerns to come.
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Global Ablation Devices Market was valued at US$2.7 Billion in 2021 and is expected to register a CAGR of 11% during the forecast period (2022-2029).
Key insights from the Ablation Devices market study
- Advanced ablation catheters have become the largest segment by product type, accounting for 68% of total ablation device market revenue in 2021. This is attributed to the fact that it is a viable alternative management strategy and that it is often used in…