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.
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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.
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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. 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.
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