Rising incidence of cancer and prevalence of cardiovascular diseases are the major factors driving the growth of this market. In addition, increasing number of ablation procedures, hospitals, surgical, and ablation centres and emergence of next-generation ablation products and technologies are further aiding to the growth prospects of this market.

However, reuse and reprocessing of devices in developing countries and healthcare cost-containment measures taken in a number of developed countries can hinder the growth of this market.

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Restraints:
# Reuse and Reprocessing of Devices in Developing Countries
# Healthcare Cost-Containment Measures
# Unfavorable Regulatory Scenario

Opportunities:
# Growth Potential Offered By Emerging Markets
# Rising Awareness Related to Ablation Procedures

Challenges:
# Product Recalls
# Therapeutic Challenges

Increasing focus of global players towards developing nations, notable mergers and acquisitions in microwave ablation segment, and development of advanced radiofrequency ablation devices are the major trends in the ablation technologies market. Key players in the ablation technologies market are acquiring small ablation devices companies expand their ablation device businesses across the globe.

Few significant mergers and acquisitions in this segment include; acquisition of – Dfine, Inc. (U.S.) by Merit Medical Systems, Inc. (U.S.) in July 2016; Galil Medical Inc. (U.S.) by BTG plc (U.K.) in June 2016; NeuWave Medical Inc (U.S.) by Johnson & Johnson (U.S.) in April 2016; Covidien plc (Ireland) by Medtronic, Inc (U.S.) in January 2015; and Microsulis Medical Ltd. (U.K.) by AngioDynamics, Inc. (U.S.) in February, 2013, among others.

The rising incidence of cancer and aging population across the globe are further aiding the market growth as global cancer patient population forms the major target market for ablation products as key ablation technologies are used for treatment and management of various tumor/cancers in the liver, lung, kidney, breast, and prostate. Additionally, risk of cancer increases with age. Approximately 60% of patients who have cancer are aged 65 and above (Source: American Society of Clinical Oncology).

According to the United Nations Department of Economic and Social Affairs, the population of individuals aged above 65 years represented 9.2% of the global population in 1990. This figure reached 11.7% by 2013 and is further expected to increase to 21.1% by 2050. In order to meet the demand for the cancer treatment, major players are focusing on bringing in advanced ablation products in the market. For instance, Medtronic, a leading player in ablation technology, launched OsteoCool RF Ablation System to treat spine metastases, in January 2016. The system destroys cancer cells by using highfrequency energy, and also provides procedural flexibility and tailored treatment for spine metastases.

Read the Detailed Article on “Ablation Technology Market – Global Forecasts to 2021“, Here..!

Role of Major Leaders in Global Success:

Medtronic plc has a wide product portfolio with advanced mapping catheters, microwaves, cryoablation, and radiofrequency ablation devices. Furthermore, the company’s wide geographic presence enables it to maintain its leading position in the market. The company acquired Covidien plc in January 2015 which helped Medtronic intensify its product portfolio, increase its global reach, and strengthen its position in the market. The company focuses on product development, product launches, and strategic acquisitions as its key business strategies to ensure its growth in the market.

Biosense Webster, Inc. held the second position in the market in 2015. Over the past three years, the company has been focusing on innovative product developments to increase its share in the market. It launched several ablation products between 2013 and 2016, including THERMOCOOL SMARTTOUCH SF Catheter (August 2016), CARTO 3 System CONFIDENSE module (June 2015), THERMOCOOL SMARTTOUCH Catheter (February 2014). In addition, the strong geographic presence and large customer base enable the company to maintain its leading position in the market.

In the market, leading players are adopting the strategies of product development, product launches, geographic expansions, agreements, acquisitions, and joint ventures to expand their presence. Market players adopted these strategies to access new technologies, develop novel products, expand their product portfolio, enter into growing markets, and increase their market share. In addition to the top market players, companies such as St. Jude Medical, Inc. (U.S.), Boston Scientific Corporation (U.S.), AngioDynamics, Inc. (U.S.), and AtriCure, Inc. (U.S.) are primarily focused on launching new ablation devices and acquisitions to widen their product offerings in the market.

Target Audience:

• Ablation Device Manufacturing Companies
• Healthcare Institutions (Hospitals and Outpatient Clinics)
• Distributors and Suppliers
• Research Institutions
• Market Research and Consulting Firms
• Contract Research Organizations (CROs) and Contract Manufacturing Organizations (CMOs)