Ablation Technologies Market by Product (Radiofrequency, Ultrasound, Irreversible Electroporation, Cryotherapy, Microwave) & Application (Cardiovascular, Cancer, Pain Management, Cosmetic Surgery, Ophthalmology, Gynecology) - Global Forecasts to 2020
The global ablation technologies market is estimated to grow at a CAGR of 10.5% from 2015 to 2020 and will be valued at USD 4.44 billion. Although mature markets (such as the U.S., Germany, France, and the U.K.) held larger shares in the ablation technologies market in 2015, the Asia-Pacific region is poised to grow at the highest CAGR in the next five years. Factors such as growing popularity of minimally invasive surgeries, government efforts to increase population access for elective surgeries, rising focus of global players, large population base and improving healthcare infrastructure and the rising focus of international and domestic players on the Asia-Pacific ablation technologies market are propelling its growth.
The growth of the ablation technologies market is driven by factors such as increasing number of ablation procedures, rising incidence of cancer, growing prevalence of cardiovascular diseases, emergence of next-generation ablation products and technologies, growing adoption of minimally-invasive procedures, increasing number of hospitals, surgical, and ablation centers and improving reimbursement scenario in established markets. However, factors such as reuse and reprocessing of devices in developing countries, Healthcare cost-containment measures, and ongoing healthcare reforms in the U.S. are restraining the growth of the market. Increasing funding for the development of novel ablation devices, emerging markets such as China, India, and Mexico are creating opportunities for the players involved in the ablation technologies market.
In this report, the global ablation technologies market has been segmented on the basis of type of product (light/laser ablators, radiofrequency ablators, electrical ablators, ultrasound ablators, microwave ablators, cryoablation devices, and hydrothermal ablators), type of technology (light/laser, radiofrequency, electrical, ultrasound, microwave, cryoblation, and hydrothermal technologies), and type of application (cancer, cardiovascular, gynecological, ophthalmological, urological, orthopedic, pain management and cosmetic surgery). The radiofrequency ablators market is estimated to account for the largest share of the global ablation technologies market in 2015, followed by the light/laser ablators market. Use of RF ablators in primary interventional therapy for the treatment of many cardiac arrhythmias is a key factor driving the segment. Better temperature control by RF ablators as compared to other ablation products (such as electrical and microwave ablators), clinical advantages offered by temperature-controlled RF ablators over traditional ablation approaches are further supporting the growth of the segment.
The microwave ablators segment is estimated to grow at the highest CAGR from 2015 to 2020. This high growth is primarily due to its high success rate in cancer treatment as well as advantages offered by microwave ablation over RF ablation (for example, microwave ablation devices can produce larger ablation zones and do not suffer as much from the heat sink effect that can handicap RF ablation).
Geographically, North America (comprising the U.S. and Canada) commands the largest share of the global ablation technologies market in 2015, followed by Europe. The ablation technologies market in North America is primarily driven by various factors including presence of a large number of ablation product manufacturers, significant rate of adoption of ablation treatment, large patient population base, growing demand for minimally invasive surgical procedures and continuously rising prevalence of chronic disorders such as cancer and heart diseases (especially atrial fibrillation).
The global ablation technologies market is highly competitive, with a large number of global and local players. As of 2014, the global ablation technologies market was dominated by Medtronic, Inc. (Ireland), Biosense Webster, Inc. (U.S.), St. Jude Medical, Inc. (U.S.), and Boston Scientific Corporation (U.S.), which together accounted for ~50% of the market. New product launches, pipeline product enhancements, and partnerships, agreements, and joint ventures are the major strategies adopted by most of the market players to achieve growth in the ablation technologies market.
Reasons to Buy the Report:
From an insight perspective, this research report has focused on various levels of analysis —industry analysis (industry trends, PEST analysis, and Porter’s five force model), market share analysis of top ten players, and company profiles, which together comprise and discuss basic views on the competitive landscape, emerging and high-growth segments of the ablation technologies market, high-growth regions and countries and their respective drivers, restraints, challenges, and opportunities.
The report will enrich both established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn will help firms in garnering a greater market share. Firms purchasing the report could use any one or combination of the below mentioned five strategies (market penetration, product development/innovation, market development, market diversification, and competitive assessment) for strengthening their market share.
The report provides insights on the following pointers:
Market Penetration: Comprehensive information on ablation devices offered by the top 10 players in the ablation technologies market. The report analyzes the ablation technologies market by type of product, technology, and application across geographies
Product Development/Innovation: Detailed insights on upcoming technologies, research and development activities, and new product launches in the ablation technologies market
Market Development: Comprehensive information about lucrative emerging markets. The report analyzes the markets for various ablation devices across geographies
Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the ablation technologies market
Competitive Assessment: In-depth assessment of market shares, strategies, products, distribution networks, and manufacturing capabilities of leading players in the ablation technologies market
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