The report “Ablation Technologies Market by Product (Radiofrequency, Ultrasound, Irreversible Electroporation, Cryotherapy, Microwave), Application (General & Cosmetic Surgery, Cardiovascular, Cancer, Ophthalmology, Orthopedics) - Global Forecasts to 2019”analyzes and studies the major market drivers, restraints, opportunities, and challenges in North America, Europe, Asia-Pacific, and the Rest of the world (RoW).
This report studies the global ablation technologies market over the forecast period of 2014 to 2019. The market is expected to reach ~$3.81 billion by 2019, at CAGR of 9.6% from 2014 to 2019.
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On the basis of type of technology, the global ablation technologies market has been divided into eight major segments, namely, light/laser, radiofrequency, electrical, ultrasound, microwave, cryotherapy, hydrothermal, and hydromechanical ablation technologies. The light/laser ablation technology segment accounted for the largest share of the global market in 2014. Furthermore, microwave ablation technology segment is expected to grow at the highest CAGR in the next five years, owing to various growth strategies followed by market players and technological advancements in the field of microwave ablation.
On the basis of type of application, the global ablation technologies market is classified into general surgery, cancer surgery, cardiovascular surgery, ophthalmological surgery, gynecological surgery, urological surgery, orthopedic application, cosmetic surgery, and other applications. The general surgery applications segment accounted for the largest share of the global market in 2014. Furthermore, the cosmetic surgery applications segment is expected to grow at the highest CAGR in the next five years, owing to growing demand for minimally invasive cosmetic surgery, increasing government funding for aesthetic surgical procedures, and rising medical tourism in emerging countries.
A number of factors such as the worldwide development of technologically advanced ablation devices, increase in aging population (which in turn is increasing the demand for age-related surgeries), growing prevalence of cancer and cardiovascular diseases, and rising preference for minimally invasive procedures are propelling the growth of the global ablation technologies market.
As of 2014, North America holds the largest share of the global ablation technologies market, followed by Europe. However, the Asia-Pacific market is expected to grow at the highest CAGR of ~12.8% from 2014 to 2019. A number of factors, including rising government efforts to modernize existing healthcare infrastructure, growing popularity of ablation procedures, and increasing focus of global market players on developing countries, are stimulating the growth of the ablation technologies market in the Asia-Pacific region.
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Covidien plc (Ireland), Medtronic, Inc. (U.S.), Biosense Webster, Inc. (U.S.), St. Jude Medical, Inc. (U.S.), and Boston Scientific Corporation (U.S.), CONMED Corporation (U.S.), AngioDynamics, Inc. (U.S.), AtriCure, Inc. (U.S.), Smith & Nephew plc (U.K.), and Olympus Corporation (Japan) are the major players in the global ablation technologies market.
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