The Global Ablation Technologies Market size has been estimated at US 4154 Million in 2019 and will reach USD 7229 Million by 2024, at a CAGR of 11.72% during the forecast period from 2019 to 2024.
Ablation technology is a beneficial procedure in removing tumour cells from the specified cells. The patient can quickly recover in a short period as this procedure causes less damage to the surrounding cells.
According to the American Heart Association, the incidences of cardiac arrest is to rise from 326,200 in 2014 to 23.6 million by 2030. The market size is to hit the highest CAGR in coming years due to surge in these incidences.
Collaborations, joint agreements and acquisition of the companies are highly essential to establish new strategies or product launches. The addition between the BTG Plc and Galil Medical, a leading company in manufacturing cryoablation systems and needles has helped the companies to expand their portfolio.
MARKET GROWTH DRIVERS
Growing incidences of chronic diseases
Increase in the number of people suffering from long term diseases like cancer, cardiac ailments and others is a significant factor propelling the demand of the market. Adoption of sedentary lifestyles and changes in food habits are the primary reasons for the rise in the incidences of chronic diseases.
Economic Growth
Constantly growing economy in developed and developing technology is making the market size to move forward. Also, increasing support from the government through investments is escalating the demand for the ablation technologies market.
Prevalence of minimal and non-invasive procedures
Ablation techniques are beneficial when compared to chemotherapy as they show very fewer side effects. People interest in minimally non-invasive procedures is significantly influencing the demand for the ablation technologies market.
Launch of innovative techniques in healthcare
The emergence of the latest techniques in the healthcare sector is escalating the demand of the market. Launch of innovative products in favour of the end-users is solely to propel the growth rate of the Ablation Technologies Market.
MARKET RESTRAINTS
The high cost of ablation procedures
Ablation procedures require massive amounts where ordinary people cannot afford is slowly to restrain the demand of the market. Besides, the lack of reimbursement in some areas is impeding the growth rate of the ablation technologies market.
Stringent rules and Regulations by government
The government is taking strict measures to support in concern to the public in approving the new products, which is degrading the demand of the market.
Lack of proper Knowledge
People in rural areas are less aware of these procedures, and this is impeding the demand of the market. Creating awareness through campaigns and digital advertisements may impact positively on the growth of the ablation technologies market.
Recent Market Developments
In May 2019, Cartonet Analytics Software for Electrophysiology launched by Biosense Webster, which will improve procedural efficiency. Electrophysiologists can review, analyze and share atrial fibrillation case data through the cloud-based network provided by the software.
In March 2017, Abbott received U.S Food and Drug Administration (FDA) approval for FlexAbility cardiac ablation catheter. This product is highly efficient in treating patients with complex cardiac arrhythmias. The sensor-enabled with the product will allow the physicians to map the systems accurately and hence reduced the time for diagnosis.
This research report on the global ablation technologies market has been segmented and sub-segmented based on product, type, application and region.
Ablation Technologies Market - By Product
Based on product type, the radiofrequency products are holding the majority of the shares due to the minimal costs associated with ablation procedures.
Light/Laser ablation product type is next to radiofrequency products holding the highest shares in the market with the increasing number of surgeries. Growing prevalence of chronic incidences is also levelling up the growth rate of the market. Escalating expenditure on healthcare is also one of the factors for the growth of this segment.
Ablation Technologies Market - By Type
Based on type, the microwave ablation segment to lead the global Ablation Technologies Market due to its high efficiency in treating cancer.
Ablation Technologies Market - By Application
Based on application, the cardiovascular diseases treatment segment is ruling with dominant shares of the market by owing to the rise in the risk of cardiac arrest and growing demand to promote new techniques. Cancer treatment is to have the highest CAGR in foreseen years with the growing need to improve healthcare infrastructure. Ophthalmologic and gynecologic treatment segments to show a steady growth rate in the forecast period.
Regional Analysis
In 2019, North America was the market leader in the global ablation technologies market.
North America is holding a significant growth rate from the past few years and expected to continue the same flow in the coming years. The U.S. is the one with the most significant shares in this region with the adoption of the latest technologies in the medical sector. They are increasing healthcare centres with the new ablation technology to fuel the demand of the market in North America. Europe is following North America in leading dominant shares of the market with the growing prevalence for the adoption of safe and efficient techniques. Asia Pacific to hit the highest CAGR in the foreseen years. Countries like India and China are playing a pivotal role in enhancing the growth rate of this market. The increasing elderly population is undoubtedly a significant factor for the market to grow in this region.
List of key competitors in the global ablation technologies market profiled in this report are:
Key market leaders in the global ablation technologies market like Biosense Webster, Inc. and Metronic, Inc. are using acquisitions, new product launches, high investments in R&D and innovations with technology as their strategies to strengthen their position in the market.
1.Introduction
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.1 Introduction
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3. Overview
3.1 Executive Summary
3.2 Key Inferences
3.3 Epidemology
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1 Product
5.1.1 Introduction
5.1.2 Light/Laser ablators
5.1.2.1 Excimer laser ablators
5.1.2.2 Cold laser ablators
5.1.3 Radiofrequency (RF) ablators
5.1.3.1 Temperature-controlled RF ablators
5.1.3.2 Fluid-cooled RF ablators
5.1.3.3 Robotic catheter manipulation systems
5.1.4 Electrical ablators
5.1.4.1 Argon plasma/beam coagulators
5.1.4.2 Irreversible electroporation ablators
5.1.5 Ultrasound ablators
5.1.5.1 High-intensity focused ultrasound (HIFU) ablators
5.1.5.2 Magnetic resonance guided focused ultrasound (MRGFUS) ablators
5.1.5.3 Ultrasonic surgical ablation systems
5.1.5.4 Extracorporeal shockwave lithotripsy systems
5.1.6 Microwave ablators
5.1.6.1 Microwave thermotherapy ablators
5.1.7 Cryoablation devices
5.1.7.1 Tissue contact probe ablators
5.1.7.2 Tissue spray probe ablators
5.1.7.3 Epidermal and subcutaneous cryoablation systems
5.1.8 Hydrothermal ablators
5.1.8.1 Endothermal hydrothermal balloon ablation devices
5.1.9 Y-o-Y Growth Analysis, By Product
5.1.10 Market Attractiveness Analysis, By Product
5.1.11 Market Share Analysis, By Product
5.2 Type
5.2.1 Introduction
5.2.2 Light/Laser Ablation
5.2.3 Radiofrequency Ablation
5.2.4 Electrical Ablation
5.2.5 Ultrasound Ablation
5.2.6 Cryoablation
5.2.7 Microwave Ablation
5.2.8 Hydrothermal Ablation
5.2.9 Y-o-Y Growth Analysis, By Type
5.2.10 Market Attractiveness Analysis, By Type
5.2.11 Market Share Analysis, By Type
5.3 Application
5.3.1 Introduction
5.3.2 Cardiovascular Disease Treatment
5.3.3 Cancer Treatment
5.3.4 Ophthalmologic Treatment
5.3.5 Gynecologic Treatment
5.3.6 Pain Management
5.3.7 Urologic Treatment
5.3.8 Orthopedic Treatment
5.3.9 Cosmetic Surgery
5.3.10 Other Treatments
5.3.11 Y-o-Y Growth Analysis, By Application
5.3.12 Market Attractiveness Analysis, By Application
5.3.13 Market Share Analysis, By Application
6. Geographical Analysis
6.1 Introduction
6.1.1 Regional Trends
6.1.2 Impact Analysis
6.1.3 Y-o-Y Growth Analysis
6.1.3.1 By Geographical Area
6.1.3.2 By Product
6.1.3.3 By Type
6.1.3.4 By Application
6.1.4 Market Attractiveness Analysis
6.1.4.1 By Geographical Area
6.1.4.2 By Product
6.1.4.3 By Type
6.1.4.4 By Application
6.1.5 Market Share Analysis
6.1.5.1 By Geographical Area
6.1.5.2 By Product
6.1.5.3 By Type
6.1.5.4 By Application
6.2 North America
6.1.1 Introduction
6.1.2 United States
6.1.3 Canada
6.3 Europe
6.2.1 Introduction
6.2.2 U.K
6.2.3 Spain
6.2.4 Germany
6.2.5 Italy
6.2.6 France
6.4 Asia-Pacific
6.3.1 Introduction
6.3.2 China
6.3.3 India
6.3.4 Japan
6.3.5 Australia
6.3.6 South Korea
6.5 Latin America
6.4.1 Introduction
6.4.2 Brazil
6.4.3 Argentina
6.4.4 Mexico
6.4.5 Rest of Latin America
6.6 Middle East & Africa
6.5.1 Introduction
6.5.2 Middle-East
6.5.3 Africa
7.Strategic Analysis
7.1 PESTLE analysis
7.1.1 Political
7.1.2 Economic
7.1.3 Social
7.1.4 Technological
7.1.5 Legal
7.1.6 Environmental
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8.Market Leaders' Analysis
8.1 Biosense Webster, Inc.
8.1.1 Overview
8.1.2 Product Analysis
8.1.3 Financial analysis
8.1.4 Recent Developments
8.1.5 SWOT analysis
8.1.6 Analyst View
8.2 St. Jude Medical, Inc.
8.3 Boston Scientific Corporation
8.4 AngioDynamics, Inc.
8.5 AtriCure, Inc.
8.6 Smith & Nephew plc
8.7 Galil Medical Inc.
8.8 CONMED Corporation
8.9 Olympus Corporation
8.10 Covidien PLC
8.11 Medtronic, Inc.
8.12 BSD Medical Corporation
9.Competitive Landscape
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10.Market Outlook and Investment Opportunities
Appendix
a) List of Tables
b) List of Figures
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