LONDON, March 22, 2017 /PRNewswire/ -- Ablation is the minimally invasive therapeutic tissue excision procedure used for a wide range of purposes, from cancerous or diseased tissue removal, to the removal of abnormally conducting cardiac tissue in atrial fibrillation and others. The growing adoption of minimally invasive procedures is pushing the researchers to innovate and improvise existing ablation technologies for better patient care.
The ablation device global market is expected to grow at high single digit CAGR to reach $20,995.5 million by 2023. The ablation device global market by technology is segmented into thermal ablation and non thermal ablation. The thermal ablation technologies are radiation therapy, cryoablation, radiofrequency, laser, ultrasound, microwave, and hydrothermal ablation technology. Among thermal ablation, radiofrequency ablation accounted for the largest share in 2016 and microwave is expected to grow at highest CAGR from 2016-2023. Non thermal technology includes electroporation, mechanical ablation and others (Chemical). Among non thermal ablation technologies, electroporation generated the largest share in 2016, and is expected to grow at a mid single digit CAGR from 2016-2023.
- By application, the ablation device global market is segmented oncology, cardiovascular diseases, ophthalmology, cosmetology, gynaecology, general surgery, urology, orthopaedics, pain management and others. Atrial Fibrilation, Ventricular Tachycardia and Others are the segments in cardiovascular application. Oncology is holding the largest revenue in 2016 and cardiovascular application is expected to grow at a high CAGR from 2016-2023.
- By end-users, the market is segmented into hospitals, ambulatory surgical centres and speciality clinics. Hospitals generated the largest revenue in 2016 and are expected to grow at high CAGR from 2016-2023
- By geography, the market is segmented into North America, Europe, Asia-Pacific and Rest of World. North America holds the largest market share in 2016, followed by Europe and Asia. The APAC regions tend to be an emerging market with an opportunity for growth with a highest CAGR from 2016-2023 and are likely to be a destination of investment for new investors in the ablation device market.
The ablation device market is expected to grow at high single digit CAGR from 2016-2023. The major factor influencing the growth are increasing number of ablation procedures, rising incidence of cancer, emergence of next-generation ablation products and technologies, growing adoption of minimally invasive procedures, and improving reimbursement scenario in established markets are some of the factors driving the market. However, reuse and reprocessing of devices in developing countries, healthcare cost-containment measures, stringent regulatory guidelines, and challenges in therapeutic procedures are some of the factors hampering the market.
The ablation device global market is a competitive and all the active players in this market are involved in innovating new and advanced products to maintain their market shares.
The key players in the ablation device global market include Boston Scientific Corporation (U.S.), Johnson and Johnson (U.S.), Abbott laboratories (St Jude Medical) (U.S.), Medtronic (Ireland), Stryker Corporation (U.S.), Elekta AB (Sweden), Olympus Corporation (Japan), ConMed Corporation (U.S.), Hologic (U.S.), Articure Inc. (U.S.), Angiodynamics Inc. (U.S.), Smith and Nephew plc (U.K.), and Varian Medical Systems (U.S.).
The report provides an in depth market analysis of the above mentioned segments across the following regions:
- North America
- Rest of the World (RoW)
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