Ablation Technology Market to Witness Robust Growth by 2020 | Hexa Research

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Research Report on Ablation Technology Market Size, Share, Growth, Trends, Application Analysis, Competitive Market Strategies and Forecasts, 2012 to 2020

27 February 2019, The global ablation technology market is primarily driven by high incidence of chronic illnesses, such as cancer. Rising cancer cases fuel the need for minimally invasive procedures for diagnostics purposes. Surgical removal of body tissues is carried out by minimally invasive procedures. These procedures employ ablation technologies. Besides being economical, ablation technologies ensure quick recovery and cause lesser damage to body tissues. They also ensure lower risks of infection.

Favorable government initiatives and a rapidly growing geriatric population are factors that positively impact demand. Owing to high success rates in diagnosis of chronic illnesses and minimal risks, developing economies, such as Brazil, India, Russia, and China are gradually adopting ablation technologies. It is anticipated that popularity of minimally invasive procedures and surging per capita expenditure on healthcare may propel the ablation technology market during the forecast period (2012 to 2020).

The worldwide industry is segmented on the basis of technologies, applications, and regions. Based on technologies, the Ablation Technology Market is divided into radiofrequency, ultrasound, electrical, and radiation. Due to widespread scope in cancer diagnosis, radiation technology led the global market in 2013. Other factors that may positively impact this segment in the forthcoming years are availability of different types of radiation devices and high incidence of cancer. The segment for electrical ablation may expand robustly over the forecast period. This attributes to rising prevalence of cardiovascular disorders, such as atrial fibrillation.

Ablation technologies are predominantly applied in orthopedics, ophthalmology, cardiovascular procedures, and in cancer. Use of ablation technologies in cancer diagnosis generated the highest revenues in 2013. Growing awareness about the popularity of ablation technology in cancer treatment is projected to fuel overall market demand. Cardiovascular applications are expected to increase considerably over the forecast period.

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Geographically, the global ablation technology market is fragmented into Europe, Asia Pacific, North America, and Rest of the World. North America held highest shares in the overall industry back in 2013. Awareness about ablation technologies and large number of people suffering from chronic diseases are key regional drivers. Ongoing industry trends suggest that Asia Pacific may expand remarkably in the years to come. The region is essentially propelled by surging healthcare expenditure and application of ablation technologies in diagnostics solutions. Growing preference for ablation over surgeries and substantial government spending on ablation technology could further contribute to regional demand.

Key companies operating the worldwide market are Boston Scientific Corporation, Olympus Corporation, AngioDynamics Inc., Medtronic Inc., and AtriCulture Inc. among others. Most industry participants focus greatly on innovations that aim at enhancing accuracy & efficiency of test results. Researchers have developed a cryoablation system that can attain much cooler temperatures than most conventional cryoablation technologies.

The new system can effectively create transmural ventricular lesions from the epicardium as well as the endocardium. It may prove beneficial for catheter-based & surgical ventricular tachycardia ablations in humans. This cryoablation technology utilizes liquid nitrogen and achieves temperatures as low as minus 160 degrees Celsius. This IceSense cryoablation system helps debulk tumors in lungs, kidneys, liver, and breast. It comprises a freezing element and a rigid probe that has a sharp needle tip.  

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