New York, USA, July 17, 2023 (GLOBE NEWSWIRE) -- Ablation Devices Market Overview
According to a Comprehensive Research Report by Market Research Future (MRFR), “Ablation Devices Market Information By Application, Function, Technology, Procedure And Region - Forecast till 2032", the market is projected to grow from USD 9 Billion in 2023 to USD 18.6 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 9.50% during the forecast period (2023 - 2032)
Market Scope
Ablation therapy can be used to treat a wide range of medical illnesses, including ophthalmology, oncology, gynecology, and cardiology. Recovering takes less time because it is a minimally invasive technique and less painful than traditional surgical procedures. Additionally, it only slightly harms the tissues in the immediate vicinity. Ablation devices are a subset of medical technology that offers prostate, liver, kidney, and lung cancer patients a minimally invasive alternative to conventional surgical treatment. Since they require fewer complications and smaller incisions after surgery, minimally invasive techniques have become increasingly popular. Additionally, increased funding for healthcare from both the public and commercial sectors, adoption of modern technology, rise in healthcare costs, research and development activities, and growth in investments all favorably impact the ablation devices market.
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Compared to conventional therapies, these procedures guarantee effective post-surgical pain management, shorter hospital stays, quicker recovery, and superior prognoses. It is anticipated that several developments in minimally invasive surgery may quicken market trends. This can be attributable to the development of sophisticated ablation technology. Additionally, it is projected that the prevalence of chronic conditions like atrial fibrillation and cancer and increased public knowledge of the advantages of ablation techniques will support market expansion. Although it lessens the adverse effects, there are some drawbacks as well. For instance, ablation cannot be used to treat big and bulky tissues like bone and neck nodules. In addition, there are few ablation treatments available in rural areas. Catheter ablation is used in electrophysiology to remove aberrant heart tissue that is the root of cardiac arrhythmia. Today's most popular ablation catheters are radiofrequency and cryoablation, and more are anticipated. Additionally, future projections indicate a sharp rise in ablation techniques for managing atrial fibrillation.
Report Scope:
| Report Attribute | Details |
| Market Size in 2032 | USD 18.6 Billion |
| CAGR | 9.50% |
| Base Year | 2022 |
| Forecast Period | 2023-2032 |
| Historical Data | 2021 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Technology, Application, Function and Procedure |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | Increasing demand for thyroid ablation procedures as well as devices |
| Rising prevalence of thyroid cancer and thyroid nodule |
Ablation Devices Market Competitive Landscape:
- Smith & Nephew PLC
- AtriCure, Inc.
- Olympus Corporation
- Conmed Corporation
- AngioDynamics, Inc.
- Accuray Incorporated
- R. Bard, Inc.
- Varian Medical Systems, Inc.
- Elekta AB
- Jude Medical, Inc.
- Medtronic PLC
- Johnson and Johnson
- BTG plc
- Misonix, Inc.
- Hologic, Inc.
Ablation Devices Market Trends:
Market Drivers:
One of the key factors propelling the market for ablation devices is the rising prevalence of long-term and cardiovascular diseases. Therefore, there is a pressing need for new, cutting-edge methods to cure cancer. Ablation is a method that employs heat to shrink the size of cancer cells and alleviate symptoms. Due to the increase in the prevalence of heart illnesses such as atrial fibrillation, atrial flutter, and cardiac arrhythmias, the market for ablation devices is expanding at a constant rate. As a result, various mid-to-large-sized businesses have increased their R&D efforts in this sector. Additionally, even smaller businesses have changed their priorities and stepped up their R&D efforts, resulting in a rise in product creation and contributing to the growth of the ablation devices industry.
It can be used alone or with radiotherapy, chemotherapy, or surgery. Due to the very targeted nature of this treatment, which solely targets tumor tissues, there has been an upsurge in demand for ablation devices in recent years. The market expansion for ablation devices is accelerated by consumers' increasing preference for minimally invasive operations due to their numerous advantages, including quick recovery and less discomfort, and by the rise in the number of elderly people who are susceptible to illnesses. The market for ablation devices is also influenced by the rising trend to employ RF ablation to treat cancer and the introduction of next-generation plasma products and technology.
Restraints
Over the next ten years, the strict regulatory approvals related to ablation devices might serve as a growth inhibitor. Obtaining regulatory approval for ablation devices can be time-consuming and expensive. On the other hand, an unfavorable regulatory environment and problems with device reuse and reprocessing in developing nations are the factors anticipated to restrain the growth of the ablation devices market.
Browse In-depth Market Research Report (128 Pages) on Ablation Devices: https://www.marketresearchfuture.com/reports/ablation-devices-market-11835
COVID 19 Analysis
The COVID-19 epidemic presented significant hurdles for the healthcare sector. Since most chronic therapy was considered non-urgent, all outpatient treatments were delayed or restricted during the COVID-19 pandemic to lower the danger of viral transmission. For instance, catheter ablation drastically dropped in the initial phases of the COVID-19 pandemic before gradually rising to pre-COVID-19 levels.
Ablation Devices Market Segmentation
The market is segmented into cancer, cardiovascular, ophthalmology, gynecology, urology, orthopedics, and other medical specialties. The aesthetics market covers procedures for skin tightening and rejuvenation, body sculpting, cellulite reduction, fat reduction, and the appearance of benign prostatic hyperplasia. The market is divided into automated/robotic and traditional categories based on function.
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Ablation Devices Market Regional Insights
Due to its high cancer prevalence, strong purchasing power, technological improvements, and government backing for high-quality healthcare, North America dominates the global market for ablation devices. Due to the introduction of cutting-edge technology, improved healthcare infrastructure, and improved economic conditions in emerging economies like China and India, Asia-Pacific is anticipated to have substantial growth throughout the forecast period. Due to the availability of promising ablation technologies, rising desire for less-invasive treatments, and rising financial resources, the undeveloped markets in Asia-Pacific, Africa, and Latin America are predicted to become lucrative. Additionally, a sizable patient population that is undetected, rising urbanization that causes an increase in chronic illness cases, growing awareness of prostate cancer, and enhanced government funding for healthcare are expected to contribute towards the market growth in these regions.
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