LONDON--(BUSINESS WIRE)--Technavio’s latest report on the global tissue ablation market provides an analysis of the most important trends expected to impact the market outlook from 2017-2021. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
Barath Palada, a lead analyst from Technavio, specializing in research on orthopedics and medical devices sector, says, “Most of the vendors are focusing on investing significantly in R&D activities and evidence-based clinical data. This will help to allay the complications and risks associated with various chronic diseases and provide effective treatment outcomes with advanced technology.”
The global tissue ablation market will grow at a CAGR of 9.91% during the forecast period. MI tissue ablation procedures have become the most advanced methods for treating various medical conditions from cancer to aesthetic procedures. Tissue ablation of small cells to destroying unresectable tumors with various techniques such as percutaneous radiofrequency ablation, irreversible electroporation, cryoablation, microwave ablation, and experimental therapies have an increasing role to play in the treatment of malignant cells.
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The top three emerging trends driving the global tissue ablation market according to Technavio healthcare and life sciences research analysts are:
Use of robotic navigation technologies
Technological advances have resulted in the development of robotic-assisted navigation systems that are highly efficient. These have considerably improved the navigation of needles, catheters, and electrode tips during surgery. The novel technology used in cardiac catheters enhances visualization of the ablation catheter's orientation and helps in improving procedural efficiency.
“Many vendors have developed catheters with robotic navigation techniques that can be used for tumor ablation. The robotic high-intensity focused ultrasound device was first used by urologic surgeons at the University of Southern California Institute of Urology in an outpatient procedure,” says Barath.
Focus on emerging countries
Many companies are expanding their businesses in developing countries as these economies have immense growth potential. Government initiatives to develop healthcare infrastructure in these countries have increased healthcare budgets, and advances in technology too will propel the market growth in these countries.
For example, the government of China had spent around USD 371 billion on healthcare reforms and USD 100 billion was invested in providing insurance to the citizens, improving the infrastructure of public hospitals, and community healthcare facilities in 2013. The growing awareness of diagnostic procedures and treatment options for various cancers have put forth tremendous opportunities for global vendors to grow in the market.
Focus on R&D
Vendors are concentrating on developing technologically advanced tissue ablation systems. They are also focusing on reducing manufacturing costs and offering customized treatments to patients. For example, Gynesonics, a company offering ablation products for enhancing women's health, has raised USD 43 million through equity financing and aims to focus on R&D for developing advanced products such as high-intensity focused ultrasound for the treatment of cervical and ovarian cancers.
Most of the companies focus on the continuous introduction of innovative products together with enhancement of its existing products. The companies are developing next generation tissue ablation products with better design, ease, and safety. Therefore, the focus on R&D will have a strong impact on the market in the future and support market growth.
The key vendors are as follows:
- Boston Scientific
- Johnson & Johnson
- St. Jude Medical
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Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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