Global Ablation Devices Market

Ablation Devices Market Size, Share, Growth Analysis, By Product (Radiofrequency Devices, Laser/Light Ablators), By Application (Cardiovascular Disease Treatment, Orthopaedic Treatment), By End use (Hospitals, Surgical Centers, And Ablation Centers, Ambulatory Surgical Centers), By Region - Industry Forecast 2024-2031


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

Ablation Devices Market Insights

Global Ablation Devices Market size was valued at USD 7.92 billion in 2022 and is poised to grow from USD 8.60 billion in 2023 to USD 17.92 billion by 2031, growing at a CAGR of 8.5% in the forecast period (2024-2031).

Surgical techniques have seen significant global changes. The healthcare sector has seen major changes, from adopting technologically advanced screening, diagnostic, and treatment equipment to strategies that ensure little to no post-surgical stress. The introduction of minimally invasive surgery is one such development. Patients are looking for treatment choices that won't be too disruptive to their well-being due to the growing senior population and the complexity of chronic conditions. Less pain, shorter hospital stays, and quicker recovery are all attributable to minimally invasive surgery. A crucial component of minimally invasive surgery is ablation. Ablation is the technique of vaporising, freezing, using radiation, chipping, or other erosive processes to remove biological material from human organs. Ablation is typically carried out surgically in the medical field to remove biological material, typically a tiny tumour. Chemical ablation and radiofrequency ablation are further methods used to remove contaminated biological tissues. 

Ablation has gained a lot of popularity recently because it is less intrusive than open surgical treatments and allows for the removal of tumours and tissues with tolerable pain. Due to the rising prevalence of chronic diseases, including tumorigenic cancer and other cardiovascular problems, ablation device demand is anticipated to rise. 

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Global Ablation Devices Market size was valued at USD 7.92 billion in 2022 and is poised to grow from USD 8.60 billion in 2023 to USD 17.92 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. 'Johnson & Johnson (US) ', 'Medtronic (Ireland) ', 'Boston Scientific Corporation (US) ', 'Abbott (US) ', 'AtriCure, Inc. (US) ', 'AngioDynamics (US) ', 'ConMed Corporation (US) ', 'Olympus Corporation (Japan) ', 'Smith+Nephew (UK) ', 'Stryker (US) ', 'Cynosure Lutronic (US) ', 'BioVentus (US) ', 'Merit Medical Systems (US) ', 'Canyon Medical Inc. (US) ', 'Arthrex, Inc. (US) ', 'IceCure Medical (Israel) ', 'Minimax Medical Holding Group (China) ', 'CardioFocus (US) ', 'EDAP TMS (France) ', 'Mermaid Medical (Denmark) ', 'Monteris (Canada) ', 'SonaBlate Corp. (US) ', 'Eco Medical (US) ', 'Surgnova (France) '

One of the major reasons contributing to the total market share is patient preference for minimally invasive procedures over open surgery. In recent years, there has been a significant growth in the popularity and acceptability of minimally invasive therapies due to shorter hospital stays, faster recovery, and less discomfort as compared to traditional procedures. Furthermore, the rising frequency of atrial fibrillation in the general population will increase the number of cardiac ablation surgeries. The minimally invasive ablation method for atrial fibrillation provides optimum effectiveness, low risk, and more patient convenience. As a result, the rising benefits of less invasive treatment techniques with ablation device adoption will boost the ablation devices market over the forecast period. 

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 2023, 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, with roughly 693,000 deaths. 

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Global Ablation Devices Market

Report ID: SQMIG35A2603

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