The global ablation technologies market is expected to grow at a compound annual growth rate (CAGR) of 9.6% to reach approximately $2.41 billion by 2019, according to a new report from MarketsandMarkets.
The sector is being driven by factors such as technological advances, a rising prevalence of cancer and cardiovascular diseases, and the growing number of ablation procedures, according to the company. Factors holding back growth include product recalls, cost-containment initiatives from various governments, and ongoing healthcare reforms in the U.S. market, MarketsandMarkets said.
As of 2014, North America currently holds the largest share of the global ablation technologies market, followed by Europe. The Asia-Pacific market, however, is expected to produce the highest CAGR from 2014 to 2019, according to the company. Growth in the Asia-Pacific region is being stimulated by an increase in government efforts to modernize existing healthcare infrastructure, the growing popularity of ablation procedures, and the increasing focus of global market players on developing countries, MarketsandMarkets said.
