The presence of a number of large endometrial ablation enterprises
such as Cooper Surgical Inc., Medtronic Plc, Boston Scientific Corp.,
Ethicon Inc., and Hologic Corp., has rendered the vendor landscape of
the global endometrial ablation market highly competitive, observes
Transparency Market Research in a recent report. To supersede
competitors, companies in the market are focusing on growth
strategies such as introduction of technologically advanced products
and expansion across new regional markets. Owing to these trends, the
market has witnessed a vast rise in collaborations, mergers, and
acquisitions, leading to a further intensified level of competition.
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TMR estimates that the global market for endometrial ablation will
exhibit a promising CAGR of 5.50% from 2016 to 2024, rising from an
opportunity worth US$0.8 bn in 2015 to US$1.3 bn by 2024.
North America to Continue to Command Greater Hold on Global
Market
In terms of type of devices, the segment of radiofrequency
endometrial ablation devices held the dominant share in market’s
overall revenue in. The segment is likely to also continue to lead
over the report’s forecast period. Factors such as ease of usage,
less duration required for surgery, and cost benefits will continue
to bode well for the segment over the forecast period, by the end of
which the segment is expected to account for a nearly 58% of the
overall market. In terms of geography, the market for endometrial
ablation in North America is presently the leading contributor in
terms of revenue and is likely to retain the top spot throughout the
report’s forecast, thanks to the developed healthcare
infrastructure. The regional market is projected to hold a nearly 44%
of the overall market by 2024.
Rising Rate of Incidence of Gynecological Diseases to Drive
Market
The market is expected to benefit from a number of factors, which
will be seen in its steady growth path over the course of the
report’s forecast. The key drivers of the market will be factors
such as the vast rise in the global prevalence of gynecological
disorders, the easy availability of technologically advanced
endometrial ablation devices, and high cost of ablation surgeries.
The market will also benefit from the rising population of affluent
higher middle-class people, especially across emerging economies in
regions such as Asia Pacific and Latin America, and the increased
expenditure of the world population on advanced healthcare
treatments.
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The increased rate of incidence of gynecological conditions such as
polycystic ovarian disease (PCOD), abnormal vaginal bleeding, and
endometrial and cervical cancers in the past few years has boosted
the demand for effective treatments. These factors remain at the helm
of the remarkable development achieved by the global endometrial
ablation market in the past few years and will continue to lead it
towards a healthy growth path in the near future.
Increased Preference to Non-invasive Treatments to Bode Well for
Market
Despite having healthy growth prospects in the foreseeable future,
the market faces challenges such as issues concerning
commercialization in developing and under-developed economies and
strict regulatory laws and policies in developed economies.
Nevertheless, as the global consumer becomes more educated about the
vast benefits of non-invasive treatments, in terms of faster
recovery, reduced time in hospitals, and cost of the overall
treatment, the market will continue to witness a healthy rise in
demand. The vast pool of untapped growth opportunities in emerging
economies could also act as a good opportunity for companies aspiring
to strengthen their hold on the global endometrial ablation market.
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