Market Trends of APAC Ablation Devices Industry
This section covers the major market trends shaping the APAC Ablation Technologies market according to our research experts:
Cancer Treatment Segment is Expected to Hold Significant Market Share Over the Forecast Period
Ablation devices are being increasingly used for the treatment of cancer. Tumor ablation devices have been widely used as it helps in effectively removing a tumor. The increasing prevalence of Cancer in the Asia-Pacific region and the rising geriatric population associated with the increasing incidence of cancer are the major factors driving the growth of the segment.
The increasing prevalence of cancer is a major factor driving the growth of the segment. For instance, according to the data published by National Cancer Center Japan in June 2022, an estimated 1,019,000 new cases of cancer are expected in Japan in 2022, out of which 158,200 new cases of colon/rectum cancer, 132,100 cases of stomach cancer, 128,800 cases of lung/trachea cancer, 96,400 cases of prostate cancer, and 95,000 cases of breast cancer are expected.
Furthermore, according to a report published by the ICMR-National Centre for Disease Informatics and Research in 2021, Leukemia accounted for nearly half of all childhood cancers in both genders in the 0-14 years age group in India, it had a prevalence of 46.4% in boys and 44.3% in girls in 2021. The other common childhood cancer in boys was found to be lymphoma (16.4%), while in girls, it was a malignant bone tumor (8.9%).
Moreover, according to the data updated by the Australian Institute of Health and Welfare in October 2022, it is estimated that around 162,000 new cases of cancer will be diagnosed in Australia during 2022, and 158,350 new cases of cancer were reported in 2021. Similarly, according to a report published by NCBI in March 2022, it is estimated that 274,488 new cancer cases and 81,277 cancer deaths are going to occur in South Korea in 2022. The most common cancer types are expected to be thyroid cancer, followed by lung cancer, colon and rectum cancer, breast cancer, and stomach cancer. These five types of cancer are expected to represent half of the overall burden of cancer in South Korea.
Thus, owing to the increasing prevalence of cancer and the increasing geriatric population, the segment is expected to witness a high growth rate over the forecast period.
China is Expected to Hold Significant Market Share Over the Forecast Period
China is expected to hold a significant share of the market due to the increasing prevalence of ablation surgery requiring diseases such as cancer, atrial fibrillation, and cataract among others. Moreover, the rising geriatric population and the increasing product launches in the country are also expected to boost the market growth.
The increasing prevalence of cancer in the country is a major factor driving the adoption of ablation devices. For instance, as per the report published by the Chinese Medical Journal in March 2022, China is experiencing a greater incidence of cancers. In 2022 it is expected that there will be approximately 4,820,000 new cancer cases in China, in which the most common is lung cancer.
Furthermore, the rising prevalence of diseases such as atrial fibrillation and cataract are also enhancing the market growth. For instance, according to an article published by the Lancet Regional Health in June 2022, a study was conducted in China which showed that the prevalence of atrial fibrillation was 1.6% in the Chinese adult population and it increased with age, and older age, male sex, and cardiovascular disease were some of the factors associated with atrial fibrillation. Similarly, according to an article published by the International Journal of Ophthalmology in January 2022, a study was conducted in China which showed that the overall prevalence of cataracts in Chinese people over 50 years old was 27.45%. Thus, with the rising prevalence of diseases such as atrial fibillation and catracts in China, the usage of ablation devices is expected to increase, as ablation procedures is a preferred treatment option for these diseases.
Hence, due to the abovementioned factors such as the rising prevalence of ablation surgery requiring diseases and the rising geratric population is expected to drive the grwoth of the market in the country.
