Global Ablation Technology Market: Overview
The term ‘ablation’ refers to the surgical removal of harmful substances, abnormal growths such as tumors, and organs from the body. Ablation can be carried out via various methods such as cryoablation, laser or light, radiofrequency, microwave, ultrasound, hydrothermal, and electrical ablation technology. By application, the major segments of the global ablation technology market can be cardiovascular disease, urology, cancer, pain management, ophthalmology, cosmetic surgery, and gynecology.
Global Ablation Technology Market: Key Trends
The development of more innovative and effective ablation products is likely to influence the growth of the market for ablation technology. The growing number of ablation procedures, together with the greater espousal of minimally invasive procedures because of their being less painful, is ensuring that the market displays consistent growth over the next few years. Consequently, as the frequency of cardiac arrests and cancer increases worldwide, the demand for ablation technology will witness an upsurge. On the other hand, bruising at catheter insertion site and soreness in the chest after catheter ablation, and other side effects of various methods might slacken the growth of the market. However, as numerous companies are coming up with ablation devices featuring cutting-edge technologies, the negative impact of these restraints can be cancelled out.
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Global Ablation Technology Market: Market Potential
A key trend in the global ablation technology market is the introduction of innovative products by several firms and their approval by regulatory bodies. In March 2017, AngioDynamics, a leading U.S.-based provider of medical devices, announced that it received the CE Mark certification for its new product, the Solero Microwave Tissue Ablation (MTA) System. Although this new product is not intended for cardiac use, it is likely to play a crucial role in the ablation of soft tissue at the time of laparoscopic, open, and percutaneous procedures. Another example of product approvals is the FDA approval of a new sensor-enabled ablation catheter, FlexAbility, developed by Abbott.
Another significant development during the same month is the launch of CUSA® Clarity ultrasonic tissue ablation platform by Integra Lifesciences Holdings Corporation. This new product offers high precision, power, and comfort to surgeons, patients, and staff, maximizing performance. Longer and tougher procedures such as fibrous tissue removal will be made easier by the use of this device, which features an intuitive touchscreen, ergonomic handpiece, and tough tissue tip.
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Global Ablation Technology Market: Regional Outlook
With the U.S at the fore, the ablation technology market in North America is slated for substantial growth. According to the findings of American Heart Association, nearly 350,000 people suffer from out-of-hospital cardiac arrests every year in the U.S. Of these, more than 90% patients die as cardiopulmonary resuscitation (CPR) is not performed immediately. As a result, the demand for ablation technology will rise substantially.
Asia Pacific is waiting in the wings to claim the foremost position in the global market for ablation technology, as the robust growth in healthcare industry, massive patient base, and extensive manufacturing and development of ablation technology products in countries such as India and China trigger growth.
Global Ablation Technology Market: Competitive Analysis
A number of market players are investing in mergers and acquisitions, collaborations, and partnerships in order to expand their presence on a global scale. For instance, BioSig Technologies, Inc. a prominent medical device manufacturer, entered a strategic partnership with Mayo Clinic and Mayo Clinic Ventures in March 2017. One of the major objectives of BioSig Technologies is to develop better ablation technologies for the treatment of deadly atrial fibrillation, arrhythmias, and ventricular tachycardia.
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Some of the major companies operating in the global market for ablation technology are Biosense Webster, Inc., Olympus Corporation, VytronUS, CONMED Corporation, Smith & Nephew plc, Osypka AG, Medtronic plc, St. Jude Medical, Inc., AtriCure, Inc., Boston Scientific Corporation, Endosense SA, and St. Jude Medical, Inc.
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