Ablation procedure has been a wonder to the medical industry in treating various cardiovascular conditions and restoring lives of many patients. It is a procedure aimed at aiding heart patients suffering from refractory hypertension, atrial fibrillation, and arrhythmia. The process involves a minimally invasive technique to remove the unwanted tissue from a specific body part with microwave, radiofrequency, electrical current, ultrasound, laser, and such other energies. While treating cardiovascular disorders the ablation procedure usually takes a surgically approach. With these energies the tissue is either killed or remodeled without vaporizing the major structure of the tissue itself.
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The ablation technologies market has witnessed an upward trend as the minimally invasive nature of this procedure has brought down the recovery time for the patient, reducing the cost not just for the patient, but also for the hospital. Additionally, the ablation technology is also known to have successful results with lesser surgical complications, making it a popular form of treating patients with various medical complications. The minimal exposure to risk, accurate treatment, and fast recovery are the undercurrents of growth in the ablation technologies market.
The global ablation technologies market has been segmented on the basis of applications and the technology in use. On the basis of technology, the ablation technologies market is categorized as electrical, microwave light or laser, cryotherapy, ultrasound or High Intensity Focused Ultrasound (HIFU), and radiofrequency (RF). In terms of applications of these technologies the global ablation technologies market is segmented on the basis of urology, pain management, cardiology (includes renal denervation), gynecological (includes endometrial ablation), oncology, and ophthalmology (includes LASIK).
In addition to these market segmentations, the global ablation technologies market is also studied by analysts on the basis of geography. The regions microscopically viewed in this light are Europe, North America, Asia Pacific, and Rest of the World.
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Projections for Global Ablation Technologies Market
The global scenario of ablation technologies indicates the RF ablation technology segment to be well-anchored in the market. However, further study shows cryoablation and ultrasound segments of this market promise growth as they have been developed in a manner which causes minimal damage to the associated tissues. An analysis by Center for Disease Prevention and Control (CDC) stated about 5.1 million people suffer from heart failure and WHO has projected about 32 million people are already living with some type of a cancer, causing around 8 million deaths across the world in the near future. These shocking statistics are likely to be market drivers for growth of ablation technologies market in the coming years. This market will also be driven by the need for ablation technologies in the cosmetic treatments required for varicose veins and psoriasis.
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In terms of geography, North America, inclusive of Canada leads the ablation technologies market. Presently, United States holds a major share in this market due to growing number of patients, increasing availability of healthcare services, and acceptance of newer technologies in the medical field. The changing perspectives of medical professionals and patients towards ablation technologies, such as microwave and radiation are expected to help the growth of these segments in the aforementioned regions. The Canadian market seems lucrative for ablation technologies market to tap into as analysts predict this region is expected to witness 52% rise in new cases of cancer which will include type such as colorectal, prostate, breast, and lung cancer.
The next region forecasted to do exceptionally well is Asia Pacific. Due to a huge population base suffering from a range of cardiovascular illnesses, arthritis, orthopedic complications, and cancer, Asia Pacific is truly going to be the demand ablation technologies market needs for growth.
The ablation technologies market also faces some restraints such as poor reimbursement scenarios, pressure to reduce prices by Affordable Care Act and Accountable Care Organization, and high procedural expenditures. However, in years to come the financial strategies, research and development, innovative marketing techniques, and methods adopted to improve patient’s life are going to play a massive role in shaping the ablation technologies market.