Key questions addressed in the report:

# What are the growth opportunities related to ablation technologies market across major regions in the future?
# Emerging countries have immense opportunities for the growth and adoption of ablation technologies products. Will this scenario continue in the next five years?
# What are the various ablation technologies product segments and their market share in the overall market?
# What are the new trends and advancements in the ablation technologies market?

Market Dynamics

Emergence of next-generation ablation products and significant adoption of minimally invasive procedures coupled with increasing number of ablation procedures are the key factors driving the growth of the global ablation technologies market. Furthermore, the rapidly increasing aging population with higher risk of target diseases and increasing number of hospitals, surgical, and ablation centers are also fueling the market growth.

However, ongoing healthcare reforms in the U.S. and cost-containment measures adopted by various governments are the key factors limiting the growth of this market. In addition, products recalls as well as therapeutic challenges related to efficacy of ablation products are the key challenges faced by industry players in the global ablation technologies market.

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Driver: Increasing number of ablation procedures

Minimally invasive alternatives involve less pain, less scarring, and offer a quicker recovery for patients. Moreover, these procedures are more economical as compared to traditional surgical procedures. Globally, the acceptance of minimally invasive surgeries is increasing as these procedures are safer and have lower mortality as well as complication rates as compared to open surgeries (Source: Stanford University Medical Center Research).

Restraint: Reuse and reprocessing of devices in developing countries

As per the FDA and EU guidelines, ablation catheters are labeled as single-use devices (SUDs). However, high per-unit cost of these devices and limited reimbursement has led to their reprocessing and reuse mainly in hospitals with budget constraints. The cost incurred by a hospital/surgical center for reprocessing and reuse is less than 10% as compared to the cost of a new ablation device, reducing the overall procedural cost by around 50%. Germany is among the key European countries which allows the reuse of SUDs (including ablation catheters), provided the devices are reprocessed as per the regulatory guidelines.

North America will continue to dominate the ablation technologies market in 2021

The ablation technologies market is segmented into four major regions, namely, North America, Europe, Asia Pacific, and the Rest of the World. In 2016, North America dominated the global market, followed by Europe. Factors including the drastically growing geriatric population, increasing prevalence of target diseases such as CVD and cancer, and the increasing demand for minimally invasive procedures are driving the market for ablation technologies in North America.

The prominent players in the ablation technologies market are Medtronic plc (Ireland), Biosense Webster (US), St. Jude Medical (US), Boston Scientific Corporation (US), CONMED Corporation (US), AngioDynamics (US), AtriCure (US), Smith & Nephew (UK), and Olympus Corporation (Japan).

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The global ablation technologies market was dominated by Medtronic (Ireland), Biosense Webster Inc. (U.S.), Boston Scientific Corporation (U.S.), and St. Jude Medical (U.S.), in 2016. These companies together accounted for a share of ~60% of the market in 2015. In 2015, Medtronic accounted for the largest share of the market due to the acquisition of Covidien

Major strategic developments are taking place in the field of radiofrequency ablation technology, which exhibits high growth potential in the near future. Dominant market players such as Medtronic, Inc. (U.S.), St. Jude Medical, Inc. (U.S.), Boston Scientific Corporation (U.S.), and CONMED Corporation (U.S.), have introduced several advanced radiofrequency ablation devices during 2013 to 2016 to keep pace with the industry trends.

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