LONDON--(BUSINESS WIRE)--Technavio has announced the top four leading vendors in their recent global surgical ablation market report. This market research report also lists 21 other prominent vendors that are expected to impact the market during the forecast period.
Competitive vendor landscape
According to the research analysis, the global surgical ablation market is growing at a significant rate, driven by an increase in the older population and technological advances in the treatment of AFib, liver cancer, and tumors. It is expected to witness significant growth in emerging countries such as India and China during the forecast period.
The competition among the key vendors in the market is expected to intensify during the forecast period with the enhancement of product extensions, new product launches, and M&A. Vendors need to use innovative strategies and introduce a broad portfolio to improve their positions in the market. The competitive environment in the market is largely due to the design and manufacturing cost of a product. Local vendors offer products at comparatively lesser cost as compared with key players, which allows customers to choose from a variety of low margin products.
“Customers from developing countries have low awareness of new products and owing to their low purchasing power; they prefer to source products from local vendors as they provide better after-sales support. This obliges global players to phase out their product prices leading to price wars,” says Barath Palada, a lead analyst at Technavio for orthopedics and medical devices research.
AngioDynamics, Boston Scientific, Johnson & Johnson, and Medtronic are the leading vendors in the global surgical ablation market. Vendors focus on conducting evidence-based studies to showcase the performance, efficacy, and long-term cost-effectiveness of their products. These studies are also important in convincing medical professionals to increase their adoption of these procedures. Also, many vendors conduct workshops and training programs to increase awareness about the procedure and improve physician referral for the procedure.
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Technavio market research analysts identify the following key vendors:
AngioDynamics
AngioDynamics is a medical device company, which develops and manufactures medical, surgical, diagnostic and therapeutic devices for the treatment of vascular diseases, tumors, and other non-coronary conditions. It has a broad range of product portfolio, which is used in MI and image-guided procedures. The surgical ablation products fall under the category of oncology/surgery division, which is sub-categorized as radiofrequency ablation, microwave ablation, and NanoKnife product lines.
Boston Scientific
Boston Scientific engages in the development, manufacture, and distribution of a broad range of products in interventional radiology, interventional cardiology, neuromodulation, peripheral interventions neurovascular intervention, electrophysiology, cardiac surgery, vascular surgery, endoscopy, oncology, urology, and gynecology therapy areas. The company offers the various surgical ablation products under the rhythm management segment. It offers a wide range of product lines within radiofrequency application segment.
Johnson & Johnson
Johnson & Johnson operates in three major business segments: medical devices and diagnostics, pharmaceuticals, and consumer products. The company offers a comprehensive range of surgical ablation devices that are used in bariatric, cardiovascular, colorectal, general, gynecologic, thoracic, breast, trauma, and acute surgeries. The company sells its ablation devices under the medical devices segment.
Medtronic
Medtronic offers pharmaceuticals, medical technology, services, and solutions. The company has a broad product portfolio for various therapy areas and showed growth in four groups, namely, cardiac and vascular, MI therapies, restorative therapies, and diabetes. Its surgical ablation products fall in the cardiac and vascular group which is subdivided as coronary and structural heart, cardiac rhythm and heart failure and aortic and peripheral vascular.
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