Ablation Technology Market - Emerging Trends | Revenue Growth Expectations | Challenges | Opportunities | Industry Dynamics

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This study analyzes and studies the major market drivers, restraints, opportunities, and challenges in North America, Europe, Asia-Pacific, and the Rest of the world (RoW).

(EMAILWIRE.COM, July 01, 2019 ) A number of factors such as an increasing number of ablation procedures, growing prevalence of target diseases including cancer and cardiovascular diseases, the emergence of next-generation ablation products and technologies, increasing number of hospitals and ablation centers drive the growth of Ablation Technology Market. On the other hand, factors such as reuse and reprocessing of devices in developing countries and healthcare cost-containment measures may restrict the growth of the market.

On the basis of type, the market is categorized into laser/light, radiofrequency, ultrasound, electrical, cryoablation, microwave, and hydrothermal ablation technology. The radiofrequency ablation segment is estimated to command the largest share of the market in 2016, due to lower cost of radiofrequency ablation procedures than other ablation techniques.

Based on product, the market is classified into seven major segments, namely, light/laser ablators, radiofrequency ablators, electrical ablators, ultrasound ablators, microwave ablators, cryoablation devices, and hydrothermal ablators. The light/laser ablators segment is further classified into excimer laser ablators and cold laser ablators. The radiofrequency ablators market is categorized into temperature-controlled RF ablators, fluid-cooled RF ablators, and robotic catheter manipulation systems. Similarly, the electrical ablators market is categorized into argon plasma/beam coagulators and irreversible electroporation ablators.

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The rising incidence of cancer and aging population across the globe are further aiding the market growth as global cancer patient population forms the major target market for ablation products as key ablation technologies are used for treatment and management of various tumor/cancers in the liver, lung, kidney, breast, and prostate. Additionally, risk of cancer increases with age. Approximately 60% of patients who have cancer are aged 65 and above (Source: American Society of Clinical Oncology).

According to the United Nations Department of Economic and Social Affairs, the population of individuals aged above 65 years represented 9.2% of the global population in 1990. This figure reached 11.7% by 2013 and is further expected to increase to 21.1% by 2050. In order to meet the demand for the cancer treatment, major players are focusing on bringing in advanced ablation products in the market. For instance, Medtronic, a leading player in ablation technology, launched OsteoCool RF Ablation System to treat spine metastases, in January 2016. The system destroys cancer cells by using highfrequency energy, and also provides procedural flexibility and tailored treatment for spine metastases.

The global ablation technologies market was dominated by Medtronic (Ireland), Biosense Webster Inc. (U.S.), Boston Scientific Corporation (U.S.), and St. Jude Medical (U.S.), in 2016. These companies together accounted for a share of ~60% of the market in 2015. In 2015, Medtronic accounted for the largest share of the market due to the acquisition of Covidien

In the market, leading players are adopting the strategies of product development, product launches, geographic expansions, agreements, acquisitions, and joint ventures to expand their presence. Market players adopted these strategies to access new technologies, develop novel products, expand their product portfolio, enter into growing markets, and increase their market share. In addition to the top market players, companies such as St. Jude Medical, Inc. (U.S.), Boston Scientific Corporation (U.S.), AngioDynamics, Inc. (U.S.), and AtriCure, Inc. (U.S.) are primarily focused on launching new ablation devices and acquisitions to widen their product offerings in the market.

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Major strategic developments are taking place in the field of radiofrequency ablation technology, which exhibits high growth potential in the near future. Dominant market players such as Medtronic, Inc. (U.S.), St. Jude Medical, Inc. (U.S.), Boston Scientific Corporation (U.S.), and CONMED Corporation (U.S.), have introduced several advanced radiofrequency ablation devices during 2013 to 2016 to keep pace with the industry trends.

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