Ablation Market Set To Expand
The global market for ablation technologies is expected to reach $10,611 million by 2020, according to a report published by Transparency Market Research of Albany, N.Y.
The market is expected to strengthen at a compound annual growth rate of 12.1 percent. This expansion is attributed to the rising demand for minimally invasive surgical techniques and the increasing prevalence of chronic disease in the baby boomer generation, including cancer, cardiovascular disorders, gynecological issues, varicose veins and orthopedic problems.
Cosmetology is another emerging segment of the market, with psoriasis and ablation of adipose tissue for treating obesity.
Ablation refers to a minimally invasive surgical procedure that involves destruction or removal of abnormal tissues that are responsible for life-threatening conditions such as atrial fibrillation, cancer and others. Low risk of infection, minimal blood loss, reduced hospital stay and ease of use are factors attributed to the technology’s expansion.
In 2013, North America accounted for the largest market share, followed by Europe. This is due to suitable cost reimbursement, various technological advancements and a broader acceptance of the devices. By 2020, however, the Asia-Pacific market is expected to be the fastest-growing area, with increases in disposable income, government reform of health care facilities and infrastructure developments. A growing medical tourism trend also compounds this increase.
The report analyzed ablation applications in cardiovascular health, gynecology, pain management, oncology, urology, ophthalmology and others.
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