The Global Ablation technologies market is estimated to be valued as $ 5.93 billion in 2014 and is expected to reach $ 10.13 billion by the end of 2019. The CAGR during this period time is estimated to be 11.25%.
Contributing to the growth of the market are factors such as the very recent technological advancements and the studies taking place in this respective market, ever increasing incidence of cancer and cardiac disease population and increasing demand for minimally invasive procedures. Also contributing to the market growth are the recent developments which have led to the reduced healthcare costs and improvement in the patient quality of life have all been important driving points of the ablation technologies market.
Nevertheless, the lack of properly skilled labor has been a hindering the market growth. Along with the regulatory framework for the Minimally Invasive devices has been stringent across the globe and is being an issue which needs to be resolved for the proper growth of the market.
The Ablation technologies market is segmented into three different categories. The first segment is based on the type of technology being used in the market. These include procedures such as Radiofrequency Ablation, Microwave Ablation, Electrical Ablation, Ultrasound and Cryoablation. Among these techniques Radiofrequency ablation is the most used technology worldwide. More than 50% of the ablation procedures use the Radiofrequency Ablation techniques. The second segment, explores the applications of the ablation techniques. Ablation techniques are used in surgeries involving major body organs. They are used in cardiovascular surgeries, Cancer treatments, colorectal surgery, Dermatology surgeries, Urology and other procedures.
Geographically, the market is segmented into four regions which are North America, Europe, Asia Pacific and Rest of the World. North America accounts for the biggest market globally. More than 55% of the market is based out of Canada and USA. This can be attributed to the per capita income and the ever rising patient population who have cancer and cardiac related problems. Following North America, Europe is the 2nd biggest market globally. APAC is a market with a lot of promise and potential.
The major players in the Ablation technologies market are Abbott Laboratories Inc, Arthro Care Corporation, Arthrex, Biomet, Boston Scientific Corporation, Covidien, Given Imaging Ltd, Johnson & Johnson. Inc , MAKO Surgical Group, Medtronic, Smith & Nephew Plc., Stryker Corporation US and Zimmer holdings.
What the Report Offers
1) Market Definition for Global Ablation Technologies market mark along with identification of key drivers and restraints for the market.
2) Market analysis for the Global Ablation Technologies market, with region specific assessments and competition analysis on a global and regional scale.
3) Identification of factors instrumental in changing the market scenarios, rising prospective opportunities and identification of key companies which can influence the market on a global and regional scale.
4) Extensively researched competitive landscape section with profiles of major companies along with their share of markets.
6) A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information.