Endometrial Ablation Market to Witness CAGR of over 5.50% by 2024
Posted: Jun 08, 2019
Albany, New York, April 05, 2019 (GLOBE NEWSWIRE) — As stated by TMR analysts, the global endometrial ablation market was valued at US$0.8 bn in 2015. The global market is projected to grow at a healthy 5.50% CAGR during the forecast period of 2016-2024 and reach US$1.3 bn by the end of 2024. North America will lead the gain the maximum share of the global endometrial ablation market in the forthcoming years. The rising requirement for thermal balloon endometrial ablation devices in hospitals is major factor responsible for the high growth of the endometrial ablation market.
As stated by WHO, cancer is the leading reasons of mortality and morbidity globally. Near about 14 mn individuals were suffering from cancer from 2012, and the numbers are still growing. WHO added that in every six mortality cases, one is because of cancer. There are several new cases that are projected to grow by near about 70% in the forthcoming years, also it recorded that there are 8.8 mn deaths in the year 2015. Moreover, cancer has recorded for 13% deaths globally. This, along with other factors, such as occurrence of innovative ablation technology and products and rising occurrence of cardiovascular disorders will boost the endometrial ablation market.
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Based on devices, the global endometrial ablation market is divided into radiofrequency device, hydrothermal ablation device, electrical ablation device, cryoablation devices, thermal balloon ablation devices, hysteroscopy devices, and microwave endometrial ablation devices. Among these, radiofrequency device category is projected to witness maximum requirements as compared to other devices, as well as almost 58% of the total market in the forthcoming years.
Growing Occurrences of Menorrhagia a Boon for Endometrial Ablation Market
The medical procedure utilized to destroy or eliminate the endometrial lining of the uterus for treating heavy bleeding during menstruation is known as endometrial ablation. Growing occurrences of menorrhagia along with the rising requirement for minimum invasiveness in procedures are projected to drive the growth of the endometrial ablation market in the forthcoming years.
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Stringent Government Regulations to Deter Growth
Strict government regulations for the approval of procedures and devices of endometrial ablation and risks related with it are projected to restrain the growth of the market. Factors like innovations and benefits in surgical techniques help the growth of the endometrial ablation market. Furthermore, this procedure offers some benefits over other surgical procedures. Procedures like shorter operating time, quicker recovery, minimum invasiveness, and pain levels are low. These factors rises the requirement for endometrial ablation market in the forthcoming years.
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The global endometrial ablation market has a considerably strong landscape and high competition says Transparency Market Research. This is majorly due predominance of new players that are actively operating in the market. In October 2017, Acutus Medical of U.S.A stated that the United States Food and Drug Administration (FDA) approved the AcQMap high resolution and 3D imaging and mapping catheter system. Further, this system will enable doctors to map and re-map quickly, to visualize changes all through the ablation procedures. Promising innovations like this for cutting-edge competition for enterprises will drive the global endometrial ablation market. Some of the major companies in the global endometrial ablation market are Minerva Surgical Inc., Smith & Nephew Plc, Karl Storz GmbH & Co. KG, Richard Wolf GmbH, and AngioDynamics Inc.
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The study presented here is based on a Transparency Market Research report titled "Endometrial Ablation Market (Device Type – Cryoablation, Electrical Ablation, Hydrothermal Ablation, Hysteroscopy Devices, Microwave Endometrial Ablation, Radiofrequency Endometrial Ablation, Thermal Balloon Ablation, Ultrasound Transducers, and Laser Ablation; End Users – Hospitals, Clinics, and Ambulatory Surgical Centers) – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 – 2024."
Transparency Market Research (TMR) is a U.S.-based provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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