USD 8.60 billion
Ablation Devices Market Size, Share, Growth Analysis, By Ablation Devices Market(Radiofrequency Devices, Laser/Light Ablators (Excimer laser ablators, Cold laser ablators), Ultrasound Devices (High-intensity focused ultrasound ablators), By Application(Cardiovascular Disease Treatment, Cosmetic/Aesthetic Surgery, Orthopaedic Treatment, Cancer Treatment (Liver Cancer), By End use(Hospitals, Surgical Centers, 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.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Radiofrequency Devices
Fastest Growth
Laser/Light Ablation
Growth Rate
8.5% CAGR
Global Ablation Devices Market ($ Bn)
Country Share for North America Region (%)
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Ablation Devices Market Segmental Analysis
The global Ablation Devices market is segmented based on product, application, end use, and region. Based on product, the market is segmented into Radiofrequency Devices, Laser/Light Ablators, Ultrasound Devices, Cryoablation Devices, Electric Ablators, Microwave Ablators, Hydrothermal Ablators and Others. Based on application, the market is segmented into Cardiovascular Disease Treatment, Cosmetic/Aesthetic Surgery, Orthopaedic Treatment, Cancer Treatment, Urological Treatment, Gynaecological Treatment, Pain Managment, and Ophthalmological Treatment. Based on end use, the market is segmented into Hospitals, Surgical Centers, And Ablation Centers, Ambulatory Surgical Centers, Medical Spas & Aesthetic Clinics and Other End Users. Based on region, the market is segmented into North America, Europe, Asia-Pacific, and MEA.
Analysis by technology
The cryoablation devices segment was worth more over USD 600 million in 2023, owing to increased research and development initiatives for enhanced therapeutic techniques to treat chronic illnesses. Furthermore, various advantages associated with cryoablation devices, such as less intrusions compared to open surgery, fewer side effects, and less harm to adjacent tissues, are projected to drive segment demand in the future years.
Analysis by Application
The treatment of cardiovascular disease, cancer, ophthalmology, pain management, gynaecological, urological, orthopaedic, cosmetic/aesthetic surgery, and other applications are the main application-based segments of the ablation technology market. Increased occurrence of diseases and technical progress in this domain will propel the market's expansion.
Analysis by End Use
Hospitals, surgical centres, ablation centres, ambulatory surgical centres (ASCs), medical spas & aesthetic centres, and other end users make up the end user segmentation of the ablation technology market. The market for ablation technology for hospitals, surgical centres, and ablation centres is expanding due to the rising prevalence of cardiac problems, cancer, and sports injuries.
Global Ablation Devices Market By Technology (%)
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Ablation Devices Market Regional Insights
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.
Furthermore, the elderly population is more susceptible to numerous chronic illnesses due to structural changes associated with age, resulting in an increase in demand for treatment procedures, which will favourably impact product acceptance in the North American market. Furthermore, enhanced healthcare infrastructure, as well as increased adoption of technologically advanced ablation devices, are expected to drive regional market trends.
In the next few years, it is projected that the Asia Pacific market will develop due to the increasing number of steps taken by the Indian government to lower the incidence of cancer and other related diseases. To raise awareness of the disease, the National Institute of Cancer Prevention and Research (NICPR) has started a programme named "India against Cancer." According to the NICPR, more than 11, 57,294 lakh new cases of cancer are reported each year in India, where an estimated 2.25 million people currently battle the condition. The nation experienced almost 7, 84,821 cancer-related deaths. These figures are expected to rise in the future, driving up demand for ablation equipment in India.
Global Ablation Devices Market By Region
- Largest
- Fastest
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Ablation Devices Market Dynamics
Drivers
Rising patient demand for minimally invasive treatments is anticipated to drive market growth
- 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.
Restraints
Strong market positioning of alternative therapies is likely to restraint market growth
- The lack of effective conventional first-line medicines for the treatment of liver cancer, uterine fibroids, haemorrhagic stroke, and other haemorrhagic disorders is a significant market limitation. For example, therapies such as surgery, chemotherapy, and radiation therapy are preferred in cancer treatment due to high public awareness of traditional cancer treatments, low adoption of advanced treatment options (particularly in developing countries), and oncologists' reluctance to abandon traditional treatment options.
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Ablation Devices Market Competitive Landscape
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.
Ablation Devices Market Top Player’s Company Profiles
- 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)
Ablation Devices Market Recent Development
- In May 2024, Clarivate Identifies Five Breakthrough Medical Technologies Set to Transform Patient Care in 2024.
- In May 2024, FDA issues 510(k) clearance for US Medical Innovations’ ablation system.
- In May 2024, The Apple Watch can now be used in clinical studies for atrial fibrillation. In an industry first, FDA certified the atrial fibrillation history feature on the Apple Watch for clinical studies under the medical device development tools (MDDT) program – the first digital health technology to achieve such status.
- In October 2023, Boston Scientific unveiled the LUX-Dx II+ Insertable Cardiac Monitor (ICM) System, representing a next-generation solution for long-term monitoring of arrhythmias linked to conditions such as atrial fibrillation (AF), cryptogenic stroke, and syncope.
- In October 2023, STARmed Co., Ltd., a prominent South Korean medical device company, inaugurated its U.S. subsidiary, STARmed America, on October 1st, 2023. This strategic initiative highlights STARmed's dedication to enhancing patient care in North America, aligning with its broader vision for global expansion.
- In September 2022, CLS Americas, a subsidiary of Clinical Laserthermia Systems AB, and Focalyx Technologies, a developer of image-guided fusion target devices, announced that they will exhibit and demonstrate their respective TRANBERGTM Thermal Therapy System for focal laser ablation and Focalyx Fusion medical device at the FOCAL 2022 Conference in Los Angeles, September 22-24, 2022. "Frontiers in Oncologic Prostate Care and Ablative Local Therapy" is the conference theme.
Ablation Devices Key Market Trends
- 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.
Ablation Devices Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our business information services team that collects, collates, co-relates, and analyses the data collected by means of primary exploratory research backed by the robust secondary desk research.
According to our analysis, the rising prevalence of numerous chronic diseases, such as cancer and cardiovascular disease, will drive market demand throughout the forecast period. In recent years, there has been a significant increase in cancer prevalence. Radiofrequency ablation is mostly used to treat cancer patients with tumours less than one and a half inches in diameter. As a result, an increase in the number of cases and the efficacy of ablation treatments will have a beneficial impact on business growth.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 7.92 billion |
| Market size value in 2031 | USD 17.92 billion |
| Growth Rate | 8.5% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Ablation Devices Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Ablation Devices Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Ablation Devices Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Ablation Devices Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Ablation Devices Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Ablation Devices Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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