Ablation technologies based surgeries are minimally invasive and are emerging as an alternative to primitive invasive surgical procedures. Ablation involves either complete destruction or removal of abnormal tissue with the aim to cure the disease. Ablation technologies market can be segmented into two prominent categories namely thermal ablation and non-thermal ablation. The thermal ablation technology encompasses radiofrequency, microwave, ultrasound, hydrothermal, electrical and light/laser technologies whereas, cryoablation technology falls under non-thermal ablation category. According to the report, the global ablation technologies market was valued at US$4.6 bn in 2013 and is expected to reach US$10.6 bn by the end of 2020, surging at a CAGR of 12.10% between 2014 and 2020.
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According to the research report, the global ablation technologies market was worth US$4.6 bn in 2013 and is expected to register a CAGR of 12.10% from 2014 to 2020 to reach a valuation of US$10.6 bn in 2020. The steady rise in the patient pool, especially those suffering from cardiovascular diseases and cancer, is leading to a rise in the demand for ablation devices. Statistics released by the WHO reveal that cardiovascular diseases result in 17 million deaths every year, of which several are attributable to atrial defibrillation. Furthermore, in 2012 records showed that about 14 million people had developed cancer that year, another 32 million were living with different type of cancers, and cancer resulted in about 8 million deaths in the year.
The global ablation technologies market is segmented on the basis of technology, application, and geography. The technologies used in this market are cryotherapy, radiofrequency (RF), light or laser, ultrasound or high intensity focused ultrasound (HIFU), electrical, microwave, and others. The applications of these technologies are seen in areas such as oncology, gynecology, cardiovascular, pain management, urology, ophthalmology, and others. Geographically, this market is divided into North America, Europe, Asia Pacific, and Rest of the World.
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According to the research report published by Transparency Market Research, the radiofrequency-based ablation technology segment is expected to lead the global ablation technologies market in terms of revenue. This segment is expected to reach a valuation of US$4.2 bn by 2020. Furthermore, the oncology segment is expected to experience a robust CAGR of 13.10% from 2014 to 2020. The ongoing technological advancements in ablation devices have given the world a wide range of products that have assured safety and efficacy for the consumers. This has led to steady growth of the market in recent years.
Some of the important players profiled in the global ablation technologies market are Angiodynamics, Inc., St. Jude Medical Inc., Boston Scientific Corporation, Biosense Webster Inc., AtriCure, Inc., BSD Medical Corporation, and Medtronic. The research report offers an insight into their financial overview, company profiles, research and development activities, investment outlook, and business and marketing strategies for the near future.