The global ablation devices market is poised for exponential growth, with projections indicating a substantial rise from USD 4.4 billion in 2023 to a staggering USD 12.6 billion by 2033. This forecast suggests a promising Compound Annual Growth Rate (CAGR) of 11.1% over the next decade.
Ablation devices play a pivotal role in medical procedures, offering minimally invasive solutions for various conditions such as cancer, cardiac arrhythmias, and chronic pain. These devices have become integral to modern medicine, providing effective treatment options that reduce recovery time and improve patient outcomes.
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Several factors are driving the growth of the ablation devices market. Technological advancements have significantly enhanced the efficacy and safety of these devices, making them a preferred choice among healthcare professionals. Additionally, the rising prevalence of chronic diseases and the increasing demand for minimally invasive procedures are contributing to the market’s expansion.
The continuous development in ablation technology is expected to open new avenues for treatment, further boosting the adoption of these devices worldwide. As healthcare systems across the globe strive to improve patient care and reduce healthcare costs, the demand for ablation devices is set to surge.
This robust growth trajectory underscores the importance of ablation devices in modern healthcare. Companies operating in this space are well-positioned to capitalize on the increasing demand, provided they continue to innovate and address the evolving needs of the medical community.
Key Factors Aiding the Growth of the Ablation Devices Market between 2023 and 2033:
- Wide adoption of minimally invasive surgical processes, owing to lesser patient trauma and recovery time
- Wide utility in oncology, as incidences of cancer rise globally
- Increasing consumer demand for radio-frequency-based ablation devices during the forecast period
- Recent technological innovations such as heat-based ablation devices are aiding in consumer base expansion as well as application
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Key Takeaways from the Report:
- Between 2017 and 2022, the market recorded a CAGR of 9.8%, attaining a valuation of USD 4.9 billion in 2022.
- During the forecast period, the United States market is expected to grow at a CAGR of 11.0%, to reach a valuation of USD 4.0 billion by 2033.
- The United Kingdom market is projected to grow at a CAGR of 12.6% between 2023 and 2033.
- The top segment by product type, the advanced ablation catheters, is expected to grow at a CAGR of 10.7%.
- By technology, the radiofrequency segment dominates the market and is anticipated to grow at a CAGR of 10.1%.
Key Market Developments:
- In February 2022, Ra Medical Systems secured the patent for its latest innovation: a support catheter. The product can easily be combined with any small flexible liquid core catheter, facilitating laser ablation.
- In November 2021, Hologic, Inc., launched the NovaSure V5 Global Endometrial Ablation (GEA). This latest innovation is crafted with EndoForm technology. The product can accommodate different types of anatomical variability and cervical canals.
- In August 2019, Boston Scientific Corporation launched its advanced cryoablation system which is known as ICEfx™. The specialty of this device is that it is a more compact, portable alternative to older versions.
Key Players:
- Boston Scientific Corporation
- Medtronic plc
- Abbott Laboratories
- Johnson and Johnson
- AngioDynamics Inc.
- Biotronik SE & Co. KG.
- Japan Lifeline Co.
- CathRx Ltd.
- AtriCure, Inc.
- Hologic, Inc.
Ablation Devices Market by Category
By Product Type:
- Bipolar Energy Ablation Devices
- Cryotherapy Ablation Devices
- Hydrothermal Ablation (HTA) Devices
- Thermal Balloon Ablation Devices
- Advanced Ablation Catheters
- Cryoablation Catheters
- Irrigated tip RF Ablation Catheters
- Laser Ablation Catheters
- Standard Ablation Catheters
- Conventional Radiofrequency Ablation Catheters
- MRI Guided Neurosurgical Ablation
- MRI Guided Laser Therapy Systems
- MRI Guided RF Ablation Systems
- MRI Guided Focused Ultrasound Systems
- Accessories
By Technology:
- Laser
- Radiofrequency
- Microwave
- Ultrasound
- Others
By Application:
- Cardiovascular
- Cancer
- Urological
- Ophthalmic
- Others
By Functional:
- Automated Robotics
- Conventional
By End User:
- Hospitals
- Ambulatory Surgical Centers
- Clinics
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