Thermal ablation devices are used to treat various medical conditions by using heat to destroy diseased tissues. These devices are used to treat cancer, uterine fibroids, and other conditions. The global thermal ablation devices market is expected to witness significant growth during the forecast period due to the increasing prevalence of cancer and other diseases, technological advancements, and rising healthcare expenditure.
Market Segmentation:
The global thermal ablation devices market is segmented based on technology, application, and region.
Based on technology, the market is segmented into radiofrequency ablation, microwave ablation, ultrasound ablation, and others. The radiofrequency ablation segment accounted for the largest market share in 2020 due to its high adoption in cancer treatment.
Based on application, the market is segmented into cancer, cardiac conditions, gynecological conditions, pain management, and others. The cancer segment accounted for the largest market share in 2020 due to the increasing prevalence of cancer worldwide.
Based on region, the market is segmented into North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. North America accounted for the largest market share in 2020 due to the presence of a large number of key players and increasing investments in R&D activities.
Key Players:
The key players operating in the global thermal ablation devices market include Medtronic plc, Boston Scientific Corporation, AngioDynamics, Inc., Johnson & Johnson, Abbott Laboratories, Hologic, Inc., EDAP TMS S.A., Merit Medical Systems, Inc., Stryker Corporation, and Smith & Nephew plc.
Recent Developments:
In December 2020, Medtronic plc announced the launch of its new RF Ablation Platform, the Accurian RF Ablation Platform, in the U.S. market.
In September 2020, AngioDynamics, Inc. announced the launch of its new Solero Microwave Tissue Ablation System for the treatment of soft tissue lesions.
In July 2020, Boston Scientific Corporation announced the completion of its acquisition of the global surgical business of Lumenis Ltd., a leading player in the field of laser and energy-based medical devices.
Conclusion:
The global thermal ablation devices market is expected to witness significant growth during the forecast period due to the increasing prevalence of cancer and other diseases, technological advancements, and rising healthcare expenditure. The radiofrequency ablation segment accounted for the largest market share in 2020, and North America accounted for the largest market share in the same year. Key players operating in the market are focusing on product launches, partnerships, and acquisitions to strengthen their market presence.