What is the global market size of Ablation Devices Market?

Global Ablation Devices Market size was valued at USD 7.93 billion in 2021 and is poised to grow from USD 8.6 billion in 2022 to USD 16.99 billion by 2030, growing at a CAGR of 8.5% in the forecast period (2023-2030).

Global Ablation Devices Market Size, Share, Growth Analysis, By Technology(Radiofrequency Devices, Laser/Light Ablation), By Application(Cardiology, Oncology), By End use(Hospitals, Ambulatory Surgical Centers) - Industry Forecast 2024-2031

Report ID: SQMIG35A2603 | Region: Global | Published Date: February, 2024
Pages: 265 | Tables: 96 | Figures: 76

Global Ablation Devices Market Regional Insights

In 2021, the North American market accounted for more than 40% of the total revenue in the ablation devices industry. The rising frequency of cancer and other chronic illnesses, as well as the growing elderly population, are some of the primary drivers driving regional market expansion. According to the American Cancer Society, around 1.9 million new instances of cancer were recorded in the area in 2018, with roughly 693,000 deaths.

Furthermore, the elderly population is more susceptible to numerous chronic illnesses due to structural changes associated with age, resulting in an increase in demand for treatment procedures, which will favorably impact product acceptance in the North American market. Furthermore, enhanced healthcare infrastructure, as well as increased adoption of technologically advanced ablation devices, are expected to drive regional market trends.

In the next few years, it is projected that the Asia Pacific market will develop due to the increasing number of steps taken by the Indian government to lower the incidence of cancer and other related diseases. To raise awareness of the disease, the National Institute of Cancer Prevention and Research (NICPR) has started a programme named "India against Cancer." According to the NICPR, more than 11, 57,294 lakh new cases of cancer are reported each year in India, where an estimated 2.25 million people currently battle the condition. The nation experienced almost 7, 84,821 cancer-related deaths in 2018. These figures are expected to rise in the future, driving up demand for ablation equipment in India.

Global Ablation Devices Market Report Snapshots

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Ablation Devices Market size was valued at USD 7.93 billion in 2019 and is poised to grow from USD 8.6 billion in 2023 to USD 16.99 billion by 2031, growing at a CAGR of 8.5% in the forecast period (2024-2031).

The ablation devices market is expanding steadily as the prevalence of heart illnesses such as atrial fibrillation (AF), atrial flutter, and cardiac arrhythmias rises. As a result, various mid-to-large-sized companies have increased their R&D efforts in this industry. Furthermore, even smaller companies have altered their focus and increased their R&D operations, resulting in a rise in product development (approvals & launches), and thereby contributing to the expansion of the ablation devices sector. In April 2016, Medtronic introduced the new Barrx 360 Express radiofrequency ablation balloon catheter, which is a self-adjusting circumferential RFA catheter used to eliminate damaged tissues. This catheter is expected to help with the treatment of Barrett's esophagus. 'Medtronic', 'Boston Scientific', 'Abbott Laboratories', 'Johnson & Johnson', 'AngioDynamics', 'Atricure', 'Biosense Webster (a Johnson & Johnson company)', 'Olympus Corporation', 'Smith & Nephew', 'Stryker', 'St. Jude Medical (a subsidiary of Abbott Laboratories)', 'Varian Medical Systems', 'CONMED Corporation', 'EDAP TMS', 'Hologic', 'Intraop Medical', 'Merit Medical Systems', 'Neuwave Medical (a Johnson & Johnson company)', 'RF Medical', 'BTG International (a subsidiary of Boston Scientific)'

Rising patient demand for minimally invasive treatments is anticipated to drive market growth

Untapped markets such as Asia-Pacific, Africa, and Latin America are expected to emerge as attractive markets because to the presence of promising ablation technologies, an increase in demand for minimally invasive therapies, and an increase in disposable incomes. Furthermore, a large undiagnosed patient population, fast urbanization, which leads to an increase in chronic illness cases, greater awareness about prostate cancer, and enhanced government funding for healthcare are projected to contribute to market expansion in these regions.

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Global Ablation Devices Market Size, Share, Growth Analysis, By Technology(Radiofrequency Devices, Laser/Light Ablation), By Application(Cardiology, Oncology), By End use(Hospitals, Ambulatory Surgical Centers) - Industry Forecast 2024-2031

Global Ablation Devices Market Regional Insights

Global Ablation Devices Market Report Snapshots

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