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Ablation Technology Market worth $9.62 billion by 2029 driven by Emerging Tech Innovations | MarketsandMarkets™

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CHICAGO, Aug. 23, 2024 /PRNewswire/ — The global Ablation Technology Market is valued at an estimated USD 6.11 billion in 2024 and is projected to reach USD 9.62 billion by 2029 at a CAGR of 9.5% during the forecast period. The ablation technology market is driven by expanding access to healthcare, a preference for minimally invasive treatments, and the application of ablation procedures in new fields. Key factors include rising public awareness campaigns, increasing global healthcare expenditure, and supportive reimbursement policies. Emerging markets like India and China present significant growth opportunities due to expanding private healthcare sectors and growing patient populations. However, challenges include rigorous regulatory frameworks and therapeutic complications such as adverse effects from cryogenic gases. The market is segmented by technology, with radiofrequency ablation leading in 2023 due to its safety and efficacy. Consumables dominate by product type, driven by increased oncological surgeries and the need for single-use devices. Cardiovascular disease treatment holds the largest application share, while hospitals, surgical centers, and ablation centers are the primary end users. North America, particularly the US, is expected to remain the largest market due to its technological advancements and supportive healthcare infrastructure. Major players include Johnson & Johnson, Medtronic, Boston Scientific, Abbott, and Atricure.

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Johnson & Johnson: Innovator in Ablation Technology

Johnson & Johnson (US) is a prominent player in the ablation technology market through its subsidiaries, Ethicon Inc. and Biosense Webster, Inc. The company specializes in pulsed field ablation platforms and therapeutic catheters. To expand its portfolio, Johnson & Johnson acquired Laminar, Inc. (US), enhancing its capabilities in this field. Committed to advancing patient outcomes, the company invests significantly in research and development. With 89 manufacturing facilities, primarily in the US, Johnson & Johnson offers its products globally through direct presence and various distribution channels.

Medtronic Plc: Global Leader in Ablation Solutions

Medtronic Plc (US) is a major force in the ablation technology market, operating in over 150 countries across North America, Europe, Asia Pacific, the Middle East & Africa, and Latin America. The company provides cardiac ablation solutions through its cardiac rhythm & heart failure segment and offers gastrointestinal and endoscopy ablation systems under its Medical Surgical Portfolio. Additionally, Medtronic’s neuromodulation division supplies tumor ablation systems. Its global presence and extensive reach support its robust position in the market.

Boston Scientific Corporation: Strategic Innovator in Ablation Technology

Boston Scientific Corporation (US) is a key player in the ablation technology market, focusing on innovation and strategic acquisitions. The company acquired Lumenis LTD (Israel), known for its laser systems, and strengthened its electrophysiology portfolio by purchasing Farapulse, Inc. (US) and Relievant Medsystems, Inc. (US). With 15 manufacturing facilities worldwide, including eight in the US and Puerto Rico, and distribution centers across major regions, Boston Scientific continues to drive growth through strategic investments and global presence.

Abbott: Expanding Its Ablation Technology Portfolio

Abbott (US) provides ablation devices and catheters under its electrophysiology subsegment. Operating through 291 international and 100 domestic subsidiaries, including Abbott GmbH & Co., KG (Germany) and Abbott Cardiovascular, Inc. (US), Abbott offers a wide range of products globally. The company’s acquisition of Cardiovascular Systems Inc. (US) has enhanced its portfolio with alternative solutions for vascular disease treatment. Abbott’s global reach and strategic acquisitions underline its commitment to expanding its ablation technology offerings.

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Product Segment: Consumables Dominate Ablation Technology Market

The ablation technology market is divided into two primary segments: ablation systems and consumables. In 2023, the consumables segment held the largest market share. This dominance is driven by a growing patient population, increasing awareness of early detection, and advancements in consumable technologies. These factors have significantly boosted demand for consumables in the market.

Application Segment: Cardiovascular Disease Treatment Leads Market

The market is segmented by application into cardiovascular disease treatment, cancer treatment, orthopedic treatment, cosmetic/aesthetic treatment, urological treatment, gynecological treatment, pain management, ophthalmological treatment, and other applications. In 2023, cardiovascular disease treatment was the largest segment. The segment’s growth is fueled by a rise in global cardiovascular disease cases, new product launches and approvals for cardiac ablation solutions, and supportive reimbursement policies.

End User Segment: Hospitals and Surgical Centers Lead Market

End users of ablation technology include hospitals, surgical centers, ablation centers, ambulatory surgical centers, medical spas, aesthetic clinics, dermatology clinics, and other facilities. In 2023, hospitals, surgical centers, and ablation centers held the largest market share. The increase in hospital numbers and partnerships with insurance companies allows for investment in advanced ablation technologies, leading to broader adoption and improved patient care.

Regional Insights: North America Holds Largest Market Share

The ablation technology market is segmented by region into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. In 2023, North America accounted for the largest market share, followed by Europe and Asia Pacific. Asia Pacific is anticipated to exhibit the highest growth rate from 2024 to 2029. North America’s market dominance is attributed to the presence of major players, high incidence of relevant diseases, and robust research activities.

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AI-Powered Earbuds Transforming North American Smart Offices: Exclusive Insights from viaim CPO at CES 2025

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LAS VEGAS, Jan. 10, 2025 /PRNewswire/ — At CES 2025 in Las Vegas, Liu Da, Chief Product Officer (CPO) of viaim, an AI technology hardware company deeply rooted in the smart office sector, gave an exclusive interview, sharing valuable insights into viaim’s exploration of the field of AI-powered earbuds, its innovative product concepts, and how the technology addresses common workplace challenges in North America. Mr. Liu also delved into the market potential of AI-powered earbuds and viaim’s strategic blueprint for shaping the future of smart offices, especially in the North American market.

North American business professionals have widely embraced remote and hybrid work models. The rise of multilingual communication has fostered a highly digitalized consumer landscape with diverse user needs, particularly for smart office solutions. In response, viaim is dedicated to developing practical AI solutions that alleviate repetitive and tiring office tasks. By addressing the evolving demands of North American professionals with its AI-driven innovations, viaim is advancing its global mission to transform work efficiency and productivity.

Unique advantages of AI-powered smart earbuds

In the interview, Mr. Liu said earbuds, being close to the user’s senses, are seamlessly integrated into daily life and serve as an ideal platform for AI technology. Unlike traditional office hardware, AI-powered earbuds are portable and versatile, fitting various scenarios such as remote meetings, commuting, and entertainment. He highlighted that viaim’s AI-powered smart office solutions position the Company to bridge the gap between people and devices, transforming earbuds from simple audio tools into smart office partners. 

viaim’s technology and design challenges during the R&D  phase

Mr. Liu detailed the challenges the Company faced during the R&D phase, including integrating AI computing power, storage, and sensors into earbuds with limited space while maintaining portability and battery life. He also highlighted the difficulty of balancing human auditory sensitivity with machine signal processing to ensure a natural user experience. To tackle these challenges, viaim employed multi-terminal collaboration, integrating earbuds, apps, and cloud services to ensure seamless voice processing and secure data management tailored to the needs of North American professionals.

Market potential, insights, and positioning in North America

A report from Upwork, the world’s largest work marketplace, projects 36.2 million Americans will work remotely in 2025, marking an 87% increase from pre-pandemic levels. AI-powered earbuds, with capabilities including meeting recording and follow-up task management, cater to the digitalized and multilingual North American market. As remote and hybrid work rises, AI earbuds are becoming vital for workplace efficiency and language learning. viaim stands out with a competitive strategy focused on technological innovation and market segmentation, offering unique value beyond traditional earbud brands.

Future strategy and product vision

Mr. Liu believes technology’s true value lies in solving real-world problems. “When users actively engage with our AI solutions, it demonstrates their true value,” he stated. AI earbuds remain the Company’s core focus, empowering professionals to shift their attention from routine tasks to meaningful creative endeavors. Looking ahead, viaim plans to expand its product lineup to include smart glasses and office accessories, creating a comprehensive AI office ecosystem. The Company aims to rapidly iterate based on user feedback, expanding AI earbuds from niche to mass markets and advancing industry development.

Media Contact: 

Qian Wang
+86-15321782927
wangqian@vision-intelligence.tech

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Steller Unveils Group Trip Planning

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KIRKLAND, Wash., Jan. 10, 2025 /PRNewswire/ — Steller, a video-based, travel planning platform that allows travelers to discover, connect and book based on experiences shared by creators, introduced its most requested feature yet: group trip collaboration. The feature transforms how travelers plan group trips by consolidating everything—discovery, communication, organized planning, and booking—into one platform. 

Steller launches group trip planning, streamlining discovery, communication, and booking into one collaborative platform.

Traditional Trip planning involves multiple surfaces and when traveling with others, multiple communication channels. It is difficult to stay organized when communication is spread across text messages, social DMs, email, etc.  

Steller’s new collaboration feature eliminates communication chaos and streamlines trip planning by offering a central group hub for organizing every piece of the process. Travelers can invite others to join their Trip itinerary, keeping communication, discovery, and booking in one place. With Steller’s library of more than 30 million pieces of user generated travel content, groups can share videos of activities, dining spots, attractions, add notes, and co-create custom itineraries. Flexible itinerary views—list, map, and video—give everyone a complete picture of the plan to share and edit with their travel companions.

“Collaborative trip planning has been a top request from our community.  When we launched Trips by Steller   last January, we knew it would resonate, but the response has far exceeded expectations. In a short time, over 50,000 users have planned and booked trips by incorporating their favorite user-generated travel videos into personalized itineraries. For our destination clients,  Trips by Steller has seamlessly connected travel influencer marketing to planning and commerce. Steller clients see more than 18% of viewers who engage with their influencer campaigns planning trips to their destination—a result that sets a high bar in the travel industry. Adding collaboration to the mix amplifies that impact, inspiring more people to explore, engage and transact together!” said Pete Bryant, CEO of Steller. 

How It Works  

Whether it’s a getaway for two or a large group adventure, collaboration makes organizing travel plans easy with an all-in-one solution. 

Build Your Itinerary Together: Group members can contribute by adding things to do, activities, and notes.Stay Organized: Add notes and structure by day, activity, or group to eliminate confusion.Flexible Views: View your itinerary as a detailed list, on a map, or through video for a fully customizable planning experience.Real-Time Updates: Keep track of changes, additions, and edits made by group members.On-the-Go Access: Everyone can access the itinerary on their phone.

Steller continues to lead the charge in innovative travel planning, ensuring that its platform evolves based on user feedback. Collaborative trip planning is the latest step in its mission to evolve travel. 

About Steller 

Steller, headquartered in Kirkland, Wash., is the market leading travel planning platform that guides travelers from inspiration to planning and booking through authentic experiences of their favorite creators. Steller’s patent pending platform distributes millions of pieces of bespoke, worldwide video content that can be found and booked on the Steller app. Learn more at www.steller.co  and  stellerforbusiness.com

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RAAPID Raises Series A from M12, Microsoft’s Venture Fund to Scale Next-Generation Healthcare Risk Adjustment

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Company reports 300% revenue growth in 2024 and advances partnerships with nation’s leading health systems

LOUISVILLE, Ky., Jan. 10, 2025 /PRNewswire/ — RAAPID, the industry-leading healthcare AI company, announced today a significant Series A investment from M12, Microsoft’s venture fund. This strategic funding positions RAAPID to expand its groundbreaking Neuro-symbolic AI platform that is reshaping healthcare risk adjustment.

RAAPID’s explosive growth – marked by a 300% revenue increase in 2024 – demonstrates the market’s strong validation of its advanced technology platform. The company has quickly established itself as a trusted partner for major health plans and provider., At the core of RAAPID’s success is its pioneering VisionAI technology, which tackles one of healthcare’s most pressing challenges: making sense of unstructured medical data. While over 70% of medical records exist as unstructured data when shared outside EHRs, RAAPID’s AI engine transforms this complex information into actionable insights, enabling unprecedented accuracy in risk capture and care gap identification.

“Our vision extends beyond traditional risk adjustment,” states Chetan Parikh, Founder and CEO of RAAPID. “We’re creating a future where AI augments healthcare professionals’ capabilities, leading to better patient outcomes and more accurate appropriate reimbursements. This investment from M12 accelerates our mission to transform healthcare through advanced AI.”

RAAPID’s purpose-built Risk Adjustment platform has achieved remarkable results:

Slashing chart review time by 60-80%Surpassing industry standards with 95%+ coding accuracyGenerating additional appropriate and compliant revenue per memberImproving risk capture accuracy by 25%

The HITRUST-certified platform stands out for its unique Neuro-symbolic AI approach, combining neural networks with an extensive medical knowledge graph containing over 4 million clinical entities and 50 million relationships. This sophisticated technology enables both retrospective analysis and prospective risk adjustment, helping organizations identify and address care gaps to positively impact patient health.

“Healthcare organizations are increasingly seeking innovative solutions to manage risk and improve care delivery in value-based arrangements,” said Todd Graham, Managing Partner at M12. “RAAPID’s AI-driven risk adjustment platform aligns perfectly with our investment strategy. Through M12, we are committed to providing our portfolio companies with access to Microsoft’s resources and expertise to drive significant impact in the healthcare sector.

Led by a team with over 25 years of healthcare technology expertise, RAAPID has collaborated with experts from the top 4 tech giants in developing its clinical AI solutions. RAAPID continues to push the safe boundaries of what’s possible in healthcare AI. The company’s selection as an M12 portfolio company validates its position as a leader in healthcare technology innovation.

As value-based care becomes increasingly important, RAAPID’s AI-powered solutions are becoming essential tools for healthcare organizations striving to improve timeliness and quality of care all patients expect. With this new funding, RAAPID is poised to further advance its technology and expand its positive impact on patients, providers and payers.

About RAAPID
RAAPID develops AI-powered solutions for healthcare payers, providers, and supporting organizations. The company’s cloud-based risk adjustment platform uses neuro-symbolic AI to identify chronic conditions, determine HCC codes, calculate risk scores, and analyze population health trends. RAAPID serves organizations that participate in Medicare Advantage, ACA, Medicare ACO, and Medicaid programs.

For more information about RAAPID’s AI-powered risk adjustment solutions, visit www.raapidinc.com

CONTACT:
Mayur Vyas
(502) 699-3044
388583@email4pr.com

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