The global ablation devices market is on the brink of remarkable growth, with market projections forecasting an impressive increase from USD 4.4 billion in 2023 to a staggering USD 12.6 billion by 2033. This trajectory reflects a promising Compound Annual Growth Rate (CAGR) of 11.1% over the next decade, highlighting the critical role these devices are playing in modern healthcare.
Ablation devices, which are used in minimally invasive procedures to treat conditions such as cancer, cardiac arrhythmias, and chronic pain, have become indispensable in medical treatments. Their ability to offer effective solutions while minimizing recovery time has made them a preferred option for healthcare professionals and patients alike.
Several key factors are fueling the expansion of the ablation devices market. The continuous advancements in technology have significantly improved the safety and efficacy of these devices, further driving their adoption in healthcare settings worldwide. Additionally, the rising prevalence of chronic diseases, coupled with the growing demand for minimally invasive treatment options, is further propelling the market’s growth.
The ongoing development of ablation technologies is expected to unlock new treatment possibilities, enhancing their effectiveness and broadening their applications. As healthcare systems globally focus on improving patient outcomes while managing costs, the demand for ablation devices is poised to surge, reinforcing their integral role in modern medical care.
This robust growth forecast underscores the vast potential for companies operating in the ablation devices sector. With innovation at the core of their strategies, these companies are well-positioned to capitalize on the increasing demand and meet 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
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%.
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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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