Global Ablation Devices Market, By Technology Type (Radiofrequency ablation, Cryoablation, Microwave ablation, Ultrasound Ablation, Hydrothermal Ablation, and Others), By Application (Cardiovascular Disease, Cancer, Gynecology, Pain Management, and Others), By End User (Hospitals, Ambulatory Surgery Centers/Clinics, and Others) and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa). The global ablation devices market was valued at US$ 4.85 Bn in 2023 and is expected to reach US$ 8.51 Bn by 2031, growing at a compound annual growth rate (CAGR) of 10.0% from 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Ablation devices are minimally invasive medical procedures thatb are used to destroy unwanted tissues through the application of lasers, microwaves, electrical, intense focused ultrasound (HIFU), or cryotherapy to remove or ablate tissue from organs. These procedures are often preferred over traditional surgery for conditions like cancer, cardiac arrhythmias, and other abnormal growths.
Global ablation devices market is expected to witness significant growth over the forecast period. This is due to the growing preference for minimally invasive procedures’ benefits such as lesser pain, lower risk of infection, reduced scarring, and quicker recovery time as compared to conventional surgeries. Furthermore, the increasing prevalence of chronic diseases like cancer and cardiovascular diseases coupled with the rising geriatric population are also propelling the demand for ablation procedures globally. Growing healthcare expenditure is yet another driver boosting the market growth.
Global Ablation Devices Market - Drivers
Increasing approval by regulatory authorities of new products launch by key market players is expected to driver the segment growth over the forecast period. For instance, On January 31, 2024, Boston Scientific Corporation, a medical device manufacturing company, announced that it received U.S. regulatory backing for its Farapulse pulsed field ablation system (PFA), a new treatment for atrial fibrillation (AFib) that physicians expect to be widely adopted.
Global Ablation Devices Market – Restraints
The risk of complications associated with ablation procedures is one of the key factors restraining the growth of the global ablation devices market. Ablation is a procedure that uses heat or other energy sources to destroy abnormal tissues. While it has effectively treated various medical conditions like cancer, cardiac arrhythmias, and orthopedic disorders, it also carries certain risks and complications.
Ablation procedures often require insertion of devices or electrodes inside the body either through minimally invasive methods or surgically. This introduces risks of damage to adjacent healthy tissues, hemorrhage, infections etc. The ablation site also has chances of scar formation that may later cause other issues. In certain complex cases where the diseased area is large or located critically close to vital organs, the ablation treatment becomes high-risk and alternative options need to be considered. This limits the use of ablation technologies only to select indications where the benefits clearly outweigh the risks.
Global Ablation Devices Market - Opportunities
Growth opportunities in developing markets present a significant opportunity for the global ablation devices market. Developing nations across Asia Pacific and Latin America are experiencing rapid economic development and infrastructure growth. This has led to a rise in discretionary spending on healthcare and a growing adoption of sophisticated medical treatment procedures.
A key driving factor is the large population base in developing nations which is expected to undergo significant urbanization in the coming years. For example, over 65% of India's population is projected to be living in urban areas by 2035 according to United Nation data. This urban shift will bring about changes in lifestyle with increased prevalence of non-communicable diseases that can be treated with ablation procedures. The growing burden of cardiac, ocular and cancer related conditions will drive the demand for ablation technology across Asia and Latin America.
Sustained government support for modernizing healthcare infrastructure also provides opportunities. National health programs in countries like China, Brazil and Mexico have allocated increased budgets towards improving accessibility and affordability of advanced medical care. This includes funding for new hospital construction as well as acquisition of high-tech surgical equipment. Per World Bank data, government health expenditure as a percentage of GDP has risen over 2010-2019 levels in all major developing economies.
Global Ablation Devices Market Segmentation:
The global ablation devices market report is segmented into technology type, application, end user, and region
Based on technology type, the global ablation devices market is segmented into radiofrequency ablation, cryoablation, microwave ablation, ultrasound ablation, hydrothermal ablation, and others. Among these, radio frequency ablation has been the standard ablation technology used for over past 20 years in procedures such as cardiac arrhythmias treatment. Its widespread acceptance and familiarity among clinicians has made it the market leader. According to the World Health Organization (WHO), cardiovascular diseases remain the leading cause of death globally, with atrial fibrillation being a major risk factor. Radiofrequency ablation is commonly used to treat atrial fibrillation and has proven safety and efficacy records. Various new radio frequency (RF) devices and catheters with improved capabilities have further increased the use of RF ablation in newer applications like pain management and cancer treatment.
Based on the application, the global ablation devices market is segmented into cardiovascular disease, cancer, gynecology, pain management, and others. Among these, cardiovascular disease accounts for the largest share of the market currently due to the rising prevalence of various heart conditions worldwide. According to the World Health Organization, cardiovascular diseases are the number one cause of death globally, with over 17 million deaths per year attributed to CVDs. Common cardiovascular conditions like heart failure, heart attack and stroke have been on the rise especially in developing nations undergoing rapid lifestyle changes and urbanization. As a result, the demand for minimally invasive ablation procedures to treat cardiovascular diseases has increased significantly. Devices like radiofrequency ablation catheters, cryoablation probes and ultrasound ablation systems are widely used in the treatment of cardiac arrhythmias and other conditions affecting the heart muscle and vasculature
Based on end user, the market is segmented into hospitals, ambulatory surgery centers/clinics, and others. Out of which, the hospitals segment is expected to dominate the market over the forecast period, and this is attributed to large number of hospitals hiring skilled professionals as per the regulations. The implementation of patient centric regulations is driving the number of healthcare staffing in hospitals
Browse 35 Market Data Tables and 36 Figures spread through 155 Pages and in-depth TOC on Global Ablation Devices Market, By Technology Type (Radiofrequency ablation, Cryoablation, Microwave ablation, Ultrasound Ablation, Hydrothermal Ablation, and Others), By Application (Cardiovascular Disease, Cancer, Gynecology, Pain Management, and Others), By End User (Hospitals, Ambulatory Surgery Centers/Clinics, and Others) and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)
Key Developments:
- On November 20, 2024, Medtronic, an U.S. based medical device company, received CE (Conformité Européenne) mark for PulseSelect Pulsed Field Ablation (PFA) system and Nitron CryoConsole. PulseSelect system is specifically engineered for the effective, efficient, and safe treatment of atrial fibrillation (AFib). It introduces a novel ablation modality utilizing pulsed electric fields to isolate the pulmonary veins. This latest addition to the Medtronic PFA portfolio comes after receiving European approval for Affera Mapping and Ablation System in March 2024. Notably, Medtronic stands as the sole company offering both single shot and focal PFA options, catering to diverse needs of both patients and clinicians. Furthermore, Nitron console enhances and streamlines the workflow for cryoballoon ablation, building on the established legacy of Medtronic's Cryo franchise.
- On November 17, 2024, Boston Scientific Corporation, a medial device manufacturing company, successfully completed its acquisition of Relievant Medsystems Inc., a privately held medical device company. This acquisition includes the intracept intraosseous nerve ablation system, the only therapy for vertebrogenic pain with clearance from the U.S. Food and Drug Administration. Vertebrogenic pain is a type of chronic low back pain. The intracept system, a basivertebral nerve ablation therapy, is a part of Boston Scientific's chronic pain portfolio. This portfolio already features spinal cord stimulation, radiofrequency ablation, and an interspinous spacer procedure..
Link: https://www.coherentmarketinsights.com/market-insight/ablation-devices-market-464
Key Takeaways of the Global Ablation Devices Market:
- Global ablation devices market is expected to exhibit a CAGR of 10% during the forecast period. Technological advancements in ablation and diagnostic electrophysiology devices offers lucrative growth opportunities for players in the global asblation devices market.
- Among region, North America is expected to be the dominant region in the global ablation devices market, due to the increasing product approval by regulatory authorities. For instance, on May 19, 2024, Abbott, a medical device manufacturing company, announced that the U.S. Food and Drug Administration (FDA) has approved the company's TactiFlex ablation catheter, sensor enabled, the world's first ablation catheter with a flexible tip and contact force technology. TactiFlex ablation catheter is used to perform an ablation procedure to treat atrial fibrillation (AFib), the most common abnormal heart rhythm, the TactiFlex catheter can result in reduced procedure times1 and better safety when compared to the company's previous generation catheters
- Major players operating in the global ablation devices market are Medtronic, Johnson & Johnson Services, Inc., Abbott, Smith+Nephew., Boston Scientific Corporation, AngioDynamics, ATRICURE, INC., Olympus Corporation, CONMED Corporation, and Merit Medical Systemsg
