Ablation
refers to minimally invasive procedures which entail the surgical excision of
body tissues. Ablation procedures are gaining rapid popularity across the globe
on account of the fact that they are used in minimally invasive ablation
procedures. Lower risk of damage to tissues, lower risk of infection, quick
recovery and cost effectiveness of ablation are some of the major drivers of
this market. Minimally invasive medical procedures gain precedence over
invasive procedures owing to the facts that the former includes relatively
lower post procedural risks, shorter recovery time and hospital stays. A surge
in the demand of minimally invasive procedures on account of the aforementioned
attributes will drive the growth of Ablation Technology market. In addition,
growing base of geriatric population across the world clubbed with rising
incidence rates of target conditions such as cancer and urological diseases
will serve the global Ablation Technology market as high impact rendering
drivers. Growing adoption of ablation procedures in emerging economies such as
India, China, Russia and Brazil owing to the presence of high unmet medical
needs and rising per capita healthcare expenditure in these countries, will
fuel the future growth of the market. The electrical ablation and radiation
ablation segment together hold the majority of the market share. High
prevalence of cardiovascular diseases especially atrial fibrillation and high
usage rates of electrical ablation in the treatment of this disease attributes to
its high market share. North America dominates the overall market in terms
of market share owing to the rising demand of minimally invasive procedures and
growing usage rates of ablation procedures. North America is followed by
Europe. Asia Pacific region is one of the fastest growing regions due to
various factors such as increasing awareness, growing population, increasing
income, eating habits, changing lifestyle etc. Major market players include
Arthocare Corporation, Accuray, Biosense Webster, Smith & Nephew, Varian
Medical Systems, Olympus Corporation etc.
Key
technology segments analyzed in this report include electrical, ultrasound,
radiation and radiofrequency. Radiation technology segment dominated the
overall ablation technology market in terms of revenue in 2013. Radiation
technology was followed by electrical technology due to its lower costs.
Applicability of radiation technology in the treatment of cancer is expected to
drive the market growth over the forecast period. Availability of various
radiation devices and high awareness of this technology as compared to other
ablation technologies has fuelled the growth of this market.
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Key
applications of ablation technology reviewed in this report include cancer,
cardiovascular, ophthalmology, orthopaedics and urology. Use of ablation
technology for treatment of cancer has captured most of the market share of
total ablation market in 2013. Increase in numbers of cancer patients has
driven the market growth. Increasing awareness about ablation technology for
treatment of cancer is expected to fuel the market to grow. Use of ablation
technology for treatment of cancer was followed by cardiovascular
applications.
North
America was the largest consumer of ablation technology due to introduction of
ablation technology in earlier stages. Increased awareness regarding various
treatments using ablation technologies has helped this market to grow. North
America was followed by Europe. Asia Pacific region is expected to be the
fastest growing regional market due to availability of large pool of patients,
increased spending capacity of patients; increasing preference to ablation over
surgery, geographical expansion of key market players and increasing government
investment in healthcare sector are expected to drive the market growth in Asia
pacific region over the forecast period. India and China are expected to be the
key consumers of ablation technology. North America and Europe are mature
markets for Ablation Technology and are expected to grow at a relatively
sluggish rate over the forecast period.
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