(PharmaNewsWire.Com, October 21, 2019 ) Over the last two decades, the field of minimally invasive surgical procedures has witnessed significant technological advancements. These technological advancements are reconstructing the practice of surgical ablation procedures throughout the world. North America (except Mexico) and a major part of the European region are mature markets for ablation devices.
However, developing regions such as Asia-Pacific (including China and India), Latin America, and the Middle East are expected to become new revenue-generating markets for players dealing in ablation devices. The ablation technologies market in these emerging regions is primarily driven by their large target patient populations. Moreover, the growing preference for minimally invasive surgical procedures, developing healthcare infrastructure, and rising government initiatives to increase access to modern healthcare facilities are some key factors fueling the growth of the ablation technologies market in these regions.
A number of players in the ablation devices market are striving to expand their presence in these emerging markets. For instance, in May 2013, Smith & Nephew plc (U.K.) acquired an India-based surgical device product provider, Sushrut Surgicals Pte. Ltd. The acquisition helped the company to enter the emerging Indian market.
In the Asia-Pacific region, the ablation technologies market in China is estimated to grow at the highest CAGR in the next five years. A number of factors such as rapid economic growth, huge population base, and government initiatives to modernize healthcare are the major drivers contributing to the growth of the ablation technologies market in China. In addition, the rising prevalence of cancer and cardiovascular diseases, aging population, and growing popularity of minimally invasive surgical procedures are some of the other factors contributing to the high growth rate of the Chinese ablation technologies market.
Driven by its high growth potential, market leader Covidien plc (U.S.) is expanding its research and development facilities in China to meet the increasing demand for ablation devices in the country. Moreover, the ablation technologies market in India is also expected to witness a robust growth in the forecast period. The evolving ablation technologies market in India offers remarkable growth opportunities for players due to factors such as the availability of skilled physicians and healthcare practitioners, lower cost of medical facilities compared to developed countries, and growing focus of international and domestic players on the Indian medical devices market.
Furthermore, the combined efforts of government agencies and public sector organizations to increase healthcare awareness have enabled the Asia-Pacific and RoW (Latin America, Middle East, and Africa) regions to become attractive markets for ablation device manufacturers.
Technologically advanced microwave and radiofrequency ablation devices offer a promising future, showcasing high growth opportunities for market players. Their market growth is propelled by various factors such as technological advancements in microwave and radiofrequency ablation, an increasing preference for minimally invasive surgical procedures, and high procedural efficacy related to these devices. Several companies such as AngioDynamics, Inc. (U.S.), AtriCure, Inc. (U.S.), Biosense Webster, Inc. (U.S.), Boston Scientific Corporation (U.S.), CONMED Corporation (U.S.), Covidien plc (Ireland), Medtronic, Inc. (U.S.), Olympus Corporation (Japan), and St. Jude Medical, Inc. (U.S.) are investing in this high-growth market to gain more profits and increase their share in the global ablation technologies market.
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