Laparoscopic Ablation Devices Market to Witness a Pronounce Growth by 2027
Global Laparoscopic Ablation Devices Market Introduction
Laparoscopic ablation is a minimally invasive surgery performed to remove or destroy abnormal tissue growth on various vital organs in the abdominal cavity. The abnormal tissues formed on vital organs such as kidney, stomach, spleen, pancreas, and liver cause chronic pain, abnormal organ activities, and create other health complications. Different types of laparoscopic ablation techniques are used to remove abnormal tissues such as radiofrequency technique, wherein tissue is destroyed or removed with the help of heat, extreme cold (cryoablation), and microwave ablation. Laparoscopic ablation devices have wide applications in oncology, urology, gynecology, neurology, and gastroenterology. Laparoscopic ablation technique offers several value added advantages over conventional surgical procedures such as minimum post-operative pain, early recovery, and shorter hospital stays.
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Global Laparoscopic Ablation Devices Market – Competitive Landscape
The global laparoscopic ablation devices market is highly consolidated, with small number of players holding majority share. Development and commercialization of laparoscopic systems and devices is one of the key trends among players in the global laparoscopic ablation devices market.
Boston Scientific Corporation
Boston Scientific Corporation develops, manufactures, and markets medical devices utilized in a broad range of interventional procedures worldwide. The company offers more than 13,000 products in medical specialties such as urology, cardiology, pulmonology, neurology, gynecology, orthopedic, interventional radiology, and vascular surgery. It is one the global leaders in the development of laparoscopic devices and holds significant share of the global laparoscopic ablation devices market.
C. R. Bard, Inc. (Becton, Dickinson and Company)
C. R. Bard, Inc. is a leading global medical devices company that develops and manufactures medical technologies in the vascular, oncology, urology, and surgical specialties. The company launched 38 products in 2015, which was the result of its extensive R&D activities. It markets products and services in over 100 countries through a wide distribution channel and employs more than 16,000 people across the globe.
Other prominent players operating in the global laparoscopic ablation devices market include Medtronic plc, B. Braun Melsungen AG, Olympus Corporation, Stryker Corporation, KARL STORZ SE & Co. KG, and CONMED Corporation.
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Laparoscopic Ablation Devices Market – Dynamics
High Prevalence and Incidence Rates of Cancer and Endometriosis to Drive Market
The global laparoscopic ablation devices market is primarily driven by high prevalence of cancer of pancreas, liver, lungs, and uterine. According to the World Cancer Research Fund, around 2 million cases of lung cancer were reported across the globe in 2018. According to the American Cancer Society, of the total number of cancer patients diagnosed every year in the U.S., around 13% had lung cancer. Moreover, the National Cancer Institute estimated that around 145,000 new colorectal cancer cases are likely to be diagnosed in 2019 and around 51,020 deaths are expected to occur in 2019. Hence, high prevalence of lung cancer and cancer of other abdominal organs is likely to fuel the growth of the global laparoscopic ablation devices market during the forecast period.