(PharmaNewsWire.Com, May 17, 2021 ) The growth in this market is supported mainly by the increasing prevalence of chronic diseases (such as cancer and cardiovascular diseases), the growing number of ablation procedures performed, and the development of next-generation ablation products and technologies. Also, the rapidly growing geriatric population, increasing number of hospitals & ablation centers, and rising awareness related to ablation procedures are further driving the ablation technologies market.
The radiofrequency ablation segment will continue to dominate the ablation technologies market, by type, during the forecast period
Based on type, the ablation technologies market is categorized into laser/light, radiofrequency, ultrasound, electrical, cryoablation, microwave, and hydrothermal ablation technologies. The radiofrequency ablation segment accounted for the largest share of the ablation technologies market in 2016. This is majorly due to the lower cost of radiofrequency ablation procedures as compared to the other ablation techniques. Also, radiofrequency ablation is preferred due to its safety, efficacy, and ease of use.
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.
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.
The prominent players in the ablation technologies market are Medtronic plc (Ireland), Biosense Webster (US), St. Jude Medical (US), Boston Scientific Corporation (US), CONMED Corporation (US), AngioDynamics (US), AtriCure (US), Smith & Nephew (UK), and Olympus Corporation (Japan).
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