According to the report titled ‘Global Ablation Technology Market Size study, by Type (Radiofrequency Ablation, Laser/Light Ablation, Ultrasound Ablation, Electrical Ablation, Others), by Application (Cardiovascular Disease Treatment, Cancer Treatment, Ophthalmologic Treatment, Orthopedic Treatment, Urological Treatment, Others) and Regional Forecasts 2020-2027’, available with Market Study Report, global ablation technology market was worth USD 4 billion in 2019 and is projected to record a CAGR of 11% during 2020-2027.
 

Increasing instances of cardiovascular diseases and cancers, introduction of next-generation ablation products & technologies, growing geriatric population, and surging demand for minimally invasive techniques are the key factors responsible for the growth of global ablation technology market.
 

For those uninitiated, ablation is a minimally invasive technique which includes surgical removal of biological materials or body tissues from human organs. The procedure is applied for treatment of various diseases including ophthalmology, gynecology, cardiovascular, and cancer, hence contributing to its popularity across the globe. Moreover, ablation procedures being minimally invasive are less painful than conventional surgical operations and require less recovery time.
 

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According to International Agency for Research on Cancer (IARC), 9.5 million deaths due to cancer and 17 million new cancer cases were recorded in 2018 globally. Additionally, the cancer cases are expected to reach 27.5 million with 16.3 million cancer deaths by the year 2040.
 

Increasing pervasiveness of cancer will boost the demand for ablation technology across the globe. Further, the COVID-19 outbreak has increased the anxiety regarding dearth of essential life-saving devices as well as other vital medical supplies, in turn stimulating the inclination among healthcare organizations to get equipped with ablation technology.
 

However, unfavorable regulatory conditions and high cost of ablation technologies may arrest the growth of global ablation technology market over the study period.
 

Citing the regional landscape, global ablation technology industry is segmented into Latin America, North America, Asia-Pacific, Europe, and Rest of the World. The report states that North America currently accounts for considerable share of global ablation technology market, on account of rising cognizance about benefits of ablation technology based surgeries, along with well-established healthcare infrastructure across the region.
 

Meanwhile, Asia Pacific ablation technology industry is anticipated to witness a substantial growth during analysis timeframe, owing to improvement in healthcare infrastructure, rising geriatric population, and increasing pervasiveness of cardiovascular diseases & cancers in the region.
 

Leading organizations in global ablation technology market are Galil Medical Inc., Smith & Nephew plc, Olympus Corporation, Conmed Corporation, AtriCure Inc., AngioDynamics Inc., Boston Scientific Corporation, St. Jude Medical Inc., Biosense Webster Inc., and Medtronic PLC.