December 28, 2016
Wellesley, Mass., Dec 28, 2016 – The ablation device market should demonstrate healthy growth due to the minimally invasive nature of ablation therapy. BCC Research reveals in its new report that technological advancements, less time required for ablation therapies, minimum damage to healthy tissues, and less blood loss when compared to conventional surgeries are among key drivers in this vibrant market.
Ablation is a minimally invasive surgical technique that destroys or removes dysfunctional tissues to treat life-threatening diseases. The procedure also is equally adopted for simple treatments in cosmetology, orthopedics, gynecology, and other ablation therapeutics.
The global market for ablation devices should reach $3.1 billion in 2016 and $5.4 billion by 2021, growing at a five-year compound annual growth rate (CAGR) of 11.6%. The North American market should total $1.8 billion and $3.1 billion in 2016 and 2021, respectively, demonstrating a five-year CAGR of 11.3%. The Asia-Pacific market should reach $492 million by 2021, up from $264 million in 2016, with a five-year CAGR of 13.3%.
A growing aging population and rising healthcare expenditures are burdening global governments. The regulatory and financial environment is becoming significantly complex, even in developed economies whose governments are focused on cost-containment measures. In this scenario, demand for the ablation procedure should grow significantly due to cost-effectiveness (in comparison to conventional surgical techniques), both shorter recovery times and hospital stays, and a smaller risk of blood loss and infections.
A high level of economic instability, growing investment in developing economies, and commercialization of next-generation technologies are compelling market participants to collaborate and leverage. The current scenario requires the market players to plan exclusive strategies after an in-depth understanding of geographic, regulatory, technology and other key market factors.
Technological advancement is leading to innovative, cost-effective products that offer better treatment facilities for both physicians and patients. Innovations such as radio frequency in thermal technologies and cryoablation in nonthermal technologies are driving forces, as well.
"Endometrial ablation represents a segment where innovations are likely to change how gynecological ailments are treated. New devices will be launched and strategic partnerships will be formed for innovations in endometrial ablation," says BCC Research analyst Yojana Jeevane. "For example, in 2015, Accuray signed an agreement with U.S.-based MIM Software Inc. to develop adaptive therapy software for the TomoTherapy and CyberKnife product portfolios. The new software solution will affect both Accuray and MIM technology."
Ablation Devices: Technologies and Global Markets (HLC163B) analyzes the industry by types of technology, products, major market players, application, geography, and factors influencing demand. The report also examines inhibitors such as pricing, reimbursement policies, and stringent regulatory impositions. Global market drivers and trends, with data from 2015, estimates for 2016, and projections of CAGRs through 2021 also are provided.
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Ablation Devices: Technologies and Global Markets( HLC163B )
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