Global Ablation Technology Market is Expecting Major Revenue Growth in Near Future

PUNE, India, 2020-Nov-09 — /EPR Network/ —

Market Growth Dynamics:

Emergence of next-generation ablation products and significant adoption of minimally invasive procedures coupled with increasing number of ablation procedures are the key factors driving the growth of the global ablation technologies market. Furthermore, the rapidly increasing aging population with higher risk of target diseases and increasing number of hospitals, surgical, and ablation centers are also fueling the market growth.

Driver: Increasing number of ablation procedures

Minimally invasive alternatives involve less pain, less scarring, and offer a quicker recovery for patients. Moreover, these procedures are more economical as compared to traditional surgical procedures. Globally, the acceptance of minimally invasive surgeries is increasing as these procedures are safer and have lower mortality as well as complication rates as compared to open surgeries (Source: Stanford University Medical Center Research).

Restraint: Reuse and reprocessing of devices in developing countries:

As per the FDA and EU guidelines, ablation catheters are labeled as single-use devices (SUDs). However, high per-unit cost of these devices and limited reimbursement has led to their reprocessing and reuse mainly in hospitals with budget constraints. The cost incurred by a hospital/surgical center for reprocessing and reuse is less than 10% as compared to the cost of a new ablation device, reducing the overall procedural cost by around 50%. Germany is among the key European countries which allows the reuse of SUDs (including ablation catheters), provided the devices are reprocessed as per the regulatory guidelines.

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Expected Revenue Surge by 2021:

The global ablation technology market is estimated to be valued at USD 2.82 billion in 2016 and is expected to reach USD 4.73 billion by 2021, growing at a CAGR of 10.9% between 2016 and 2021.

Key questions addressed in the report:

# What are the growth opportunities related to ablation technologies market across major regions in the future?
# Emerging countries have immense opportunities for the growth and adoption of ablation technologies products. Will this scenario continue in the next five years?
# What are the various ablation technologies product segments and their market share in the overall market?
# What are the new trends and advancements in the ablation technologies market?

North America will continue to dominate the ablation technologies market in 2021

The ablation technologies market is segmented into four major regions, namely, North America, Europe, Asia Pacific, and the Rest of the World. In 2016, North America dominated the global market, followed by Europe. Factors including the drastically growing geriatric population, increasing prevalence of target diseases such as CVD and cancer, and the increasing demand for minimally invasive procedures are driving the market for ablation technologies in North America.

Cardiovascular diseases form the largest and fastest-growing application segment of the ablation technologies market

By application, the ablation technologies market is segmented into cardiovascular disease, pain management, cancer, ophthalmology, cosmetic surgery, gynecology, urology, orthopedics, and other applications. Cardiovascular diseases accounted for the largest share of the ablation technologies market in 2016 and are anticipated to witness the highest growth during the forecast period. The high incidences of CVDs across the globe and technological advancements in cardiac ablation devices are supporting the growth of the ablation technologies market for this application segment.

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