Ablation Devices - Market Insights, Competitive Landscape, and Market Forecast - 2030

Ablation Devices Market By Technology (Radiofrequency, Thermosphere, Microwave, Cryoablation, Ultrasonic, And Others), By Application (Cardiovascular, Oncology, Gynaecology, Orthopaedic, And Others), By End-User (Hospitals, Ambulatory Surgical Centers, And Others), And by geography is estimated to grow at an appreciable CAGR forecast till 2030 owing to the increasing incidence of various cancers and the rising prevalence of chronic pains such as musculoskeletal pains

The global ablation devices market is estimated to grow at a CAGR of 11.65% during the forecast period from 2024 to 2030. Factors such as the increasing incidence of cancers such as liver cancer, the rising prevalence of chronic pains such as musculoskeletal pains, the rising prevalence of cardiac arrhythmia such as atrial fibrillation, and the rising regulatory approvals for technologically advanced ablation devices. Therefore, the market for ablation devices is estimated to grow at a significant CAGR during the forecast period from 2024 to 2030.

Ablation Devices Market Dynamics:

One of the most prominent factors driving the demand for ablation devices is the increasing incidence of various cancers such as liver cancer. According to the Centers for Disease Control and Prevention (CDC) published data in the year 2023, each year in the United States, around 25,000 men and 11,000 women suffer from liver cancer. Therefore, ablation devices can be used for the treatment of liver cancer by destroying liver tumors, this will increase the demand for ablation devices, thereby increasing the growth of the overall ablation devices market growth during the forecast period (2024-2030).

Another key contributor to the growing popularity of ablation devices is the rising prevalence of chronic pains such as musculoskeletal pains. As per the latest data available from World Health Organization (WHO) data published in the year 2023, musculoskeletal pains affect approximately 1.71 billion people in the world. Further, among people with musculoskeletal disorders, lower back pain is the most common musculoskeletal condition, affecting 568 million people worldwide, as per the above-mentioned source and statistics. Therefore, ablation devices are needed to limit the pains related to musculoskeletal conditions, which could boost the demand for ablation devices, thereby driving the ablation device's overall market growth.

Therefore, all the factors mentioned above will collectively surge the growth of the ablation devices market during the forecast period from 2024-2030.

However, the risks associated with ablation procedures such as bleeding, infections, blood clots, and the stringent regulatory approvals for ablation devices may prove to be restraining factors to the ablation devices market growth.

Additionally, the ongoing COVID-19 pandemic has negatively impacted the ablation devices market. The nationwide lockdown in almost every country, restricted the movement of people, supply chains & logistics were halted, unavailability of the workforce at the production sites hampered the manufacturing process due to which there was product shortage in the market, and elective surgeries were also postponed and not given priority as COVID-19 patients were given more preference in terms of treatment. Ablation procedures are the treatment options used in elective surgeries such as cardiovascular, cancers, and other surgeries which were also postponed. For instance, as per the American Hospital Association 2020, between March and June 2020, there had been an estimated loss of USD 50.7 billion to United States hospitals as a result of the reduction observed in "elective" procedures. As per the same source, on average these procedures accounted for about 31% of the net revenue in the United States. However, with masses being vaccinated, relaxation in lockdown restrictions, resumption of supply chains, logistics, & manufacturing units, and an increase in elective surgeries, the ablation devices market has picked momentum again and is expected to further grow during the forecast period (2024-2030)

Ablation Devices Market Segment Analysis:

Ablation Devices Market by Technology (Radiofrequency, Thermosphere, Microwave, Cryoablation, Ultrasonic, and Others), Application (Cardiovascular, Oncology, Gynaecology, Orthopaedic, and Others), End-User (Hospitals, Ambulatory Surgical Centers, and Others), Geography (North America, Europe, Asia-Pacific, and Rest of the World)

In the technology segment of the ablation devices market, radiofrequency ablation technology is expected to hold a significant revenue share in the year 2023. This can be ascribed to the advantages associated with radiofrequency ablation technology over other ablation technologies. Radiofrequency ablation technology is a minimally invasive technology and promises long-term survival for the patient, it is an image-guided technology that uses heat to destroy cancer cells, effective for pain relief, and has faster recovery. It passes high-frequency electrical currents through the electrode to ground pads placed on the body and helps in the treatment of disease. Thus, increasing cases of cancers around the globe positively impacts the growth of the radiofrequency ablation technology market. Therefore, considering the advantages associated with it, this category is estimated to perform well in the coming years.

Moreover, owing to the developments related to ablation devices, there will be rapid growth observed in the ablation devices market during the forecast period. For instance, in August 2020, Biosense Webster, a subsidiary of Johnson & Johnson Medical Devices Companies, received European CE mark approval for QDOT MICRO radiofrequency ablation catheter. QDOT MICRO treats symptomatic drug-refractory paroxysmal atrial fibrillation and has been designed to deliver high-power ablation in a short amount of time. The device was approved for use in Japan & Europe and was under investigation for U.S. FDA approval.

Therefore, such type of benefits and development activities in the radiofrequency ablation technology segment for ablation devices in the technology type segment would result in driving the demand for ablation devices which in turn would provide a conducive growth environment during the forecast 2024-2030.

North America is expected to dominate the Ablation Devices Market:

Among all the regions, North America is estimated to have the largest revenue share in the global ablation devices market. This can be ascribed to the rising prevalence of cardiac arrhythmias such as atrial fibrillation and the rising regulatory approvals for technologically advanced ablation devices, these factors are expected to aid in the ablation devices market growth during the forecast period from 2024-2030 in the North America market.

One of the key supporting factors for the growth of the North America ablation devices market is the rising prevalence of cardiac arrhythmia such as atrial fibrillation. As per Centers for Disease Control and Prevention (CDC) data published in the year 2023, it was estimated that by the year 2030, there will be 12.1 million cases of atrial fibrillation in the United States. Thus, ablation devices are required to treat people suffering from atrial fibrillation. Therefore, the rising prevalence of cardiac arrhythmia such as atrial fibrillation can increase the demand for ablation devices, thereby contributing to the overall growth of the North America ablation devices market.

Moreover, another factor promoting the market growth of ablation devices in North America is the rising regulatory approvals for technologically advanced ablation devices. For instance, in January 2022, Medtronic, a global leader in medical technology, announced that it has received Food and Drug Administration (FDA) approval in the United States for DiamondTemp(TM) Ablation (DTA) system which treats patients with recurrent, symptomatic paroxysmal atrial fibrillation (AF) and who have been unresponsive to drug therapy.

Furthermore, in November 2020, Abbott, a global healthcare leader announced that FDA has cleared the launch of its new device IonicRF(TM) Generator, in the United States, it is a radiofrequency ablation device that uses heat to target specific nerves and block pain signals from reaching the brain.

Therefore, the interplay of all the factors mentioned above for ablation devices would provide a conducive growth environment for the North American region in the ablation devices market.

Ablation Devices Market Key Players:

Some of the key market players operating in the ablation devices market include Medtronic, AngioDynamics, ATRICURE INC, BIOTRONIK SE & Co. KG, Boston Scientific Corporation, OLYMPUS CORPORATION, Ethicon (Johnson & Johnson Services, Inc), Abbott, CONMED Corporation, Smith & Nephew, BD, Varian Medical Systems Inc, Hologic Inc, Stryker, Japan Lifeline Co Ltd, Merit Medical Systems, Integra LifeSciences, Terumo Europe NV, and others.

Recent Developmental Activities in the Ablation Devices Market:

In December 2022, BD, the largest global medical technology company, announced that it has acquired Venclose, a medical technology company and its solutions for treating chronic venous insufficiency (CVI), such as radio frequency (RF) ablation technology, with its catheters potentially reducing post-operative pain

In July 2020, Ethicon, a part of the Johnson & Johnson Medical Devices Company, announced FDA has granted Breakthrough Device Designation for transbronchial microwave ablation technology using robotic-assisted bronchoscopy in the US, it provides a minimally invasive option for soft tissue lesions.

In February 2019, Medtronic, a global leader in medical technology, launched the new Accurian radiofrequency ablation system in the US, following 510(k) clearance from the country's regulatory authority, radiofrequency ablation involves radio waves-generated current that heats a small portion of nerve tissue to prevent sending of pain signals and thus reduces pain.

Key Takeaways from the Ablation Devices Market Report Study:

• Market size analysis for the current ablation devices market size (2023), and market forecast for 5 years (2024-2030)
• The effect of the COVID-19 pandemic on this market is significant. To capture and analyze suitable indicators, our experts are closely watching the ablation devices market.
• Top key product/services/technology developments, mergers, acquisitions, partnerships, and joint ventures happened over the last 3 years
• Key companies dominating the global ablation devices market.
• Various opportunities are available for the other competitors in the ablation devices market space.
• What are the top-performing segments in 2023? How these segments will perform in 2030.
• Which are the top-performing regions and countries in the current ablation devices market scenario?
• Which are the regions and countries where companies should have concentrated on opportunities for ablation devices market growth in the coming future?

Target Audience who can be benefited from this Ablation Devices Market Report Study:

• Ablation devices products providers
• Research organizations and consulting companies
• Ablation Devices-related organizations, associations, forums, and other alliances
• Government and corporate offices
• Start-up companies, venture capitalists, and private equity firms
• Distributors and traders dealing in ablation devices services
• Various end users who want to know more about the ablation devices market and latest technological developments in the ablation devices market.

Frequently Asked Questions for Ablation Devices Market:

1. What are Ablation Devices?

Ablation systems use heat or cold to cause small burns due to these lesions scar tissues are created that block electrical signals causing arrhythmia. Heat is usually generated by radiofrequency, energy, or laser.

2. What is the global market for Ablation Devices?

The global ablation devices market is estimated to grow at a CAGR of 11.65% during the forecast period from 2024 to 2030.

3. What are the drivers for Global Ablation Devices Market?

Factors such as the increasing incidence of cancers such as liver cancer, the rising prevalence of chronic pains such as musculoskeletal pains, the rising prevalence of cardiac arrhythmia such as atrial fibrillation, and the rising regulatory approvals for technologically advanced ablation devices are further expected to boost the market for ablation devices during the forecast period (2024-2030).

4. Who are the key players operating in Global Ablation Devices Market?

Some of the key market players operating in the Ablation devices market include Medtronic, AngioDynamics, ATRICURE INC, BIOTRONIK SE & Co. KG, Boston Scientific Corporation, OLYMPUS CORPORATION, Ethicon (Johnson & Johnson Services, Inc), Abbott, CONMED Corporation, Smith & Nephew, BD, Varian Medical Systems Inc, Hologic Inc, Stryker, Japan Lifeline Co Ltd, Merit Medical Systems, Integra LifeSciences, Terumo Europe NV, and others.

5. Which region would acquire significant market share in the Ablation Devices Market?

Among all the regions, North America is estimated to have the largest revenue share in the global ablation devices market. This can be ascribed to the rising prevalence of cardiac arrhythmias such as atrial fibrillation and the rising regulatory approvals for technologically advanced ablation devices, which are expected to aid in the ablation devices market growth in this region.