Global Ablation Devices Market

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

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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.

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.

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