Endometrial Ablation Market to Attain a Value of US$1.3 bn by 2024
Posted: Mar 23, 2019
Global Endometrial Ablation Market: Snapshot
With the rising prevalence of gynecology disorders, such as polycystic ovarian disease (PCOD), abnormal vaginal bleeding, the global adoption of endometrial ablation procedures has increased significantly, leading to an impressive rise in the worldwide endometrial ablation market. Apart from this, the upswing in the incidence rate of cervical and endometrial cancer in women is also driving the growth of this market substantially across the world.
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Over the forthcoming years, the growing awareness among consumers regarding the benefits of endometrial ablation procedures, such as cost efficiency, minimal invasiveness, and shorter hospital stay, is projected to fuel the demand for these procedures considerably, reflecting positively on this market. However, the stringent regulatory laws and regulations for clinical trials, product designing, and commercialization may create trouble for the market players in the near future.
On the whole, the global market for endometrial ablation, which was worth US$0.8 bn in 2015, is expected to progress at a CAGR of 5.50% between 2016 and 2024 and reach US$1.3 bn by the end of 2024.
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Radiofrequency Endometrial Ablation Devices to Continue Witnessing High Demand
Cryoablation device, hydrothermal ablation device, electrical ablation device, microwave endometrial ablation device, thermal balloon ablation device, radiofrequency endometrial ablation device, hysteroscopy device, and several other devices, such as ultrasound transducers and laser ablation device are the main products available in the global market for endometrial ablation.
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Among these, radiofrequency endometrial ablation devices witnesses a higher demand than other devices and are expected to remain so, occupying nearly 58% of the overall market by the end of the forecast period. The ease of usage, cost benefits, and short surgical procedures have increased the popularity of microwave endometrial ablation devices, which is likely to reflect greatly on their adoption in the near future.
Asia Pacific to Provide Highly Lucrative Opportunities to Participants
In terms of geography, the global market for endometrial ablation is classified into Europe, North America, Latin America, the Middle East and Africa, and Asia Pacific. With a well-established healthcare infrastructure and easy access to healthcare facilities, the market for endometrial ablation in North America is expected to remain leading the overall market throughout the forecast period. By 2024, this regional market is expected to account for a share of nearly 44%.
On the other hand, Asia Pacific is likely to provide more lucrative opportunities to market players over the forthcoming years. The significant rise in the prevalence of gynecological disorders due to low awareness and hygiene and high unmet medical needs are anticipated to drive the demand for endometrial ablation procedures in this region in the years to come. Japan, India, and China are expected to lead the Asia Pacific endometrial ablation market over the next few years.
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