Ablation Technology Market Analysis, Market Size, By Technology (Electrical, Ultrasound, Radiation, Radiofrequency), By Application (Cancer, Cardiovascular, Ophthalmology, Orthopaedics, Urology) And Segment Forecasts To 2020

Industry Insights

Ablation refers to minimally invasive procedures that entail the surgical excision of body tissues. Ablation procedures are gaining rapid popularity across the globe since 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 because the former includes relatively lower post-procedural risks, shorter recovery time, and hospital stays. A surge in the demand for minimally invasive procedures on account of the aforementioned attributes will drive the growth of the Ablation Technology market. Also, the growing base of the 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 segments together hold the majority of the market share. The 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 for 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 lifestyles, etc. Major market players include Arthocare Corporation, Accuray, Biosense Webster, Smith & Nephew, Varian Medical Systems, Olympus Corporation, etc. 

Technology Insights

Key technology segments analyzed in this report include electrical, ultrasound, radiation, and radiofrequency. The 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. The applicability of radiation technology in the treatment of cancer is expected to drive market growth over the forecast period. The availability of various radiation devices and high awareness of this technology as compared to other ablation technologies has fuelled the growth of this market.

Application Insights

Key applications of ablation technology reviewed in this report include cancer, cardiovascular, ophthalmology, orthopedics, and urology. The use of ablation technology for the treatment of cancer has captured most of the market share of the total ablation market in 2013. An increase in the number of cancer patients has driven market growth. Increasing awareness about ablation technology for the treatment of cancer is expected to fuel the market to grow. The use of ablation technology for the treatment of cancer was followed by cardiovascular applications. 

Regional Insights

North America was the largest consumer of ablation technology due to the 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 the availability of a large pool of patients, increased spending capacity of patients; increasing preference for ablation over surgery, geographical expansion of key market players, and increasing government investment in the 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.

Competitive Insights

Key players in the global ablation technology market include Arthocare, Accuray, Biosense, Corporation, Webster, Smith & Nephew, Varian Medical Systems, Olympus Corporation, etc.