Albany, NY -- (SBWIRE) -- 10/18/2016 -- 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. The principal advantage of these procedures over surgery is short recovery time, minimum invasion, low risk of infection, lesser blood loss, and shorter hospital stays. Ablation technologies have applications in various clinical areas such as cancer, cardiac, ophthalmology, urology, gynecology and orthopedics. The report also provides the compound annual growth rate (CAGR %) for each of the segments for the forecast period 2014-2020, while market size estimations have been made considering 2012 and 2013 as base years.

The global market for ablation technologies market has been studied on the basis of application type and technologies type. The application segment has been sub-segmented into these prominent categories namely cardiovascular, gynecology, pain management, oncology, urology, ophthalmology and others. Whereas, the ablation technologies market has been fragmented into radiofrequency, light/laser, electrical, ultrasound, microwave, cryotherapy and others. RF ablation is the most established device type, but ultrasound ablation and cryoablation are growing rapidly owing to advantages associated such as minimal damage to associated tissues among others. Cryoablation devices are the only kind of ablation device that can be used to treat prostate cancer. Urologists and interventional radiologists both use cryoablation to treat kidney cancer using differing techniques. As per an analysis by Center for Disease Prevention and Control (CDC) approximately 5.1 million people face heart failure every year of which one in nine deaths in 2009 were primarily due to cardiac arrhythmia. As per WHO projection, approximately 32 million people are living with some form cancer causing 8 million deaths across the world which clearly depicts scope of opportunities for players operating in the ablation technologies market.

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Other prominent drivers to the global ablation technologies market include increasing adoption of ablation techniques and devices in cosmetics such as varicose vein treatment, psoriasis among others are key areas of opportunities in developing economic countries. Restraints to the ablation technologies market include disparities in the reimbursement scenario across globe along with regulations to curb pricing pressure which include Affordable Care Act and deployment of Accountable Care Organization especially in developed economic regions, thus affecting the overall growth and uptake of the ablation devices. Furthermore, high procedural cost is main area of concern for companies operating in this market.

Geographically, North America which includes the United States and Canada continues to be a leading market in ablation technologies. The United States market accounts for major contribution owing to larger population base, larger penetration of healthcare services and wider acceptance of these novel technologies. Although Canada's contribution in North America revenue is significantly low as compared to the United States yet there has been a shift in trend towards adoption of novel ablation technologies such as radiation and microwave ablation therapies in past couple of years. Pertaining to the adoption rate, the market for ablation products is likely to grow exponentially in forthcoming years. An estimated 191,300 new cases of cancer and 76,600 deaths from cancer will occur in Canada in 2014 accounting for 30% of overall deaths. About 52% of all the new cases of cancer in Canada will include prostate, breast, lung and colorectal cancers. Companies like Medtronic in 2008, looking at the untapped opportunities in Canadian market acquired Montreal based CryoCath Technologies Inc. to form Medtronic's AF Solutions division which as of now offers an extensive line of diagnostic, cryoablation and radiofrequency ablation tools to diagnose and treat a broad spectrum of cardiac arrhythmias.

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Asia-Pacific region during the forecast is the fastest growing region owing to larger population base of patients suffering from cardiovascular, cancer and arthritis and other orthopedic disorders. Overall drivers to Asia-Pacific market for ablation technologies include increasing healthcare awareness, rise in healthcare expenditure and increase in chronic diseases due to change in lifestyle and food habits. Rest of the World market is still at nascent stage and is expected to grow considering continuous rise in prevalence rate of hypertension, cardiovascular and urological diseases.

Some of the key companies operating in this market include St. Jude Medical, Inc., Bioscience Webster Inc., Medtronic, Inc., Boston Scientific Corp, Covidien PLC and Angiodynamics, Inc. among others.

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