Global Industry Dynamics:
Emergence of next-generation ablation products and significant adoption of minimally invasive procedures coupled with increasing number of ablation procedures are the key factors driving the growth of the global Ablation Research Technology Market. Furthermore, the rapidly increasing aging population with higher risk of target diseases and increasing number of hospitals, surgical, and ablation centers are also fueling the market growth.
However, ongoing healthcare reforms in the U.S. and cost-containment measures adopted by various governments are the key factors limiting the growth of this market. In addition, products recalls as well as therapeutic challenges related to efficacy of ablation products are the key challenges faced by industry players in the global ablation technologies market.
Driver: Increasing number of ablation procedures
Minimally invasive alternatives involve less pain, less scarring, and offer a quicker recovery for patients. Moreover, these procedures are more economical as compared to traditional surgical procedures. Globally, the acceptance of minimally invasive surgeries is increasing as these procedures are safer and have lower mortality as well as complication rates as compared to open surgeries (Source: Stanford University Medical Center Research).
Download PDF Brochure@
https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=791
Key Questions Addressed in the Report:
# What are the growth opportunities related to Ablation Technology Market across major regions in the future?
# Emerging countries have immense opportunities for the growth and adoption of ablation technologies products. Will this scenario continue in the next five years?
# What are the various ablation technologies product segments and their market share in the overall market?
# What are the new trends and advancements in the Ablation Research Technology Market?
Expected Revenue Growth:
The global ablation technology market is estimated to be valued at USD 2.82 billion in 2016 and is expected to reach USD 4.73 billion by 2021, growing at a CAGR of 10.9% between 2016 and 2021. Emergence of next-generation ablation products and technologies, rising incidence of cancer, growing prevalence of cardiovascular diseases and increasing number of ablation procedures are the major factors driving the growth of the ablation technologies market during the forecast period.
Recent Developments:
# In August 2016, Biosense Webster, Inc. launched its THERMOCOOL SMARTTOUCH SF Catheter in the U.S. for the treatment of drug resistant paroxysmal atrial fibrillation. This helped the company to expand its product portfolio and increase its revenue base in the U.S.
# In May 2016, Galil Medical Inc. was acquired by the BTG plc group (a part of BTG International Ltd, U.K.); for a value of USD 110.0 million. BTG International is prominent manufacturer of cryoablation products and possesses strong product distribution network across Europe. The acquisition helped Galil Medical to strengthen its technological capabilities and to expand its distribution network in global ablation market.
# In October 2016, Smith & Nephew established a new a sports medicine orthopedic devices manufacturing facility at Costa Rica with an investment of USD 55 million. This helped the company strengthen its product manufacturing capabilities and address the growing demand for ablation products in the ablation technologies market.
# In December 2015, Medtronic entered into a partnership with Baylis Medical (Canada) to increase patient access to its OsteoCool RF Ablation System and further innovation in the system. Medtronic had acquired the OsteoCool technology and related IP from Baylis Medical in December 2015. This helped Medtronic to achieve technological advancement in its spinal tumor ablation system.
# In April 2016, Abbott Laboratories and St. Jude Medical, Inc. entered into a merger agreement. As per the agreement Abbott will acquire St. Jude Medical by end of the 2016. This acquisition is expected to increase the global presence and capabilities of both the companies and diversify their product offerings in the medical devices industry. Additionally, the merger would create the industry-leading product pipeline and top position in the industry due to combined product portfolio.
Request Sample Pages@
https://www.marketsandmarkets.com/requestsampleNew.asp?id=791
North America will continue to dominate the ablation technology market in 2021
The Ablation Research Technology 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.
Key Players:
The prominent players in the Ablation Research Technology 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).
