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.
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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 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).
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In this report, the global ablation technologies market has been segmented on the basis of type of product (light/laser ablators, radio frequency ablators, electrical ablators, ultrasound ablators, microwave ablators, cryoablation devices, and hydrothermal ablators), type of technology (light/laser, radio frequency, electrical, ultrasound, microwave, cryoblation, and hydrothermal technologies), and type of application (cancer, cardiovascular, gynecological,ophthalmological, urological, orthopedic,pain management and cosmetic surgery).
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), Bio sense Webster, Inc. (U.S.), St. Jude Medical, Inc. (U.S.), and Boston Scientific Corporation (U.S.), which together accounted for ~50% of the market.
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