PORTLAND, Oregon and PUNE, India, June 27, 2018 /PRNewswire/ --
According to a new report published by Allied Market Research, titled, "Endometrial Ablation Devices Market, by Technology and End User: Global Opportunity Analysis and Industry Forecast, 2018 to 2024," the market was valued at $882 million in 2017, and is expected to reach $1,299 million by 2024, growing at a CAGR of 5.6% from 2018 to 2024.
Endometrial ablation devices are used to remove the endometrium, which is the lining of the uterus. This procedure used for treatment of menorrhagia when it is not controlled with the help of medications. Increase in prevalence of menstrual disorders and rise in awareness about endometrial ablation devices majorly drive the growth of the endometrial ablation devices market. In addition, endometrial ablation offers some advantages, such as speed of treatment, efficiency, and minimal invasive procedure. These fuel the market growth globally.
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Based on technology type, the market is segmented into radiofrequency ablation, cryoablation, hydrothermal ablation, thermal balloon, hysteroscopic ablation, and others. At present, the radiofrequency ablation segment generates the major share of revenue due to speed of procedure and efficiency. On the other side, thermal balloon technology segment is anticipated to show the fastest growth during the forecast period primarily owning to its safety and procedure convenience.
Based on end user, the clinic segment occupied the largest share in 2017, and is anticipated to continue its dominance during the forecast period, due to availability of portable and easy to use endometrial ablation devices. However, the ambulatory surgery center segment is anticipated to exhibit the fastest market growth during the forecast period owing to a convenient environment as well as rise in number of ambulatory surgery centers.
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Key Findings of the Endometrial Ablation Devices Market:
- Based on technology, the thermal balloon segment is expected to show the fastest market growth, at a CAGR of 6.8% from 2018 to 2024.
- Based on technology, the radiofrequency ablation segment held more than one-third share in 2017 and is expected to remain dominant throughout the forecast period.
- Based on end user, the ambulatory surgery segment exhibited fastest growth at a CAGR of 6.2% from 2018 to 2024.
- Asia-Pacific is expected to experience growth at the highest rate, registering a CAGR of 6.8% during the forecast period.
North America accounted approximately half in 2017 and is expected to remain dominant throughout the forecast period due to increase in awareness about endometrial ablation technology and rise in prevalence menorrhagia in the region, well-developed healthcare infrastructure, and strong presence of key players. On the other hand, Asia-Pacific is expected to experience the highest growth rate during the forecast period majorly due to surge in health care expenditure, rise in health awareness and increase in demand for minimally invasive procedures.
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SOURCE Allied Market Research