Logo
Thursday, 18 April 2024
Wednesday, 22 Nov 2023 12:00 am

Ablation Device Market is expected to reach US$ 16,020.33 million by 2030

The global ablation device market size is estimated to grow from USD 8,325.32 million in 2022 and to reach a value of USD 16,020.33 million by 2030.

By The Insight Partners

Radiofrequency Devices to Dominate Ablation Device Market During 2022–2030

According to our new research study on "Ablation Device Market Size and Forecast (2020–2030), Global and Regional Share, Trend, and Growth Opportunity Analysis," the market was valued at US$  8,325.32 million in 2022 and is projected to reach US$ 16,020.33 million by 2030; it is estimated to register a CAGR of 8.5 % from 2022 to 2030. Key factors driving the ablation device market growth include the growing prevalence of chronic diseases, an increase in the geriatric population, and surging demand for minimally invasive procedures. However, the availability of better and well-known alternative treatment methods hinders the market growth.

The increasing prevalence of chronic diseases such as cancer, cardiovascular diseases, and respiratory conditions drives the ablation devices market. Ablation procedures are employed as an effective option for treating tumor ablation, cardiac arrhythmias, and pulmonary disorders. According to the World Health Organization (WHO), each year, noncommunicable diseases (NCDs) are the primary reason for 41 million deaths globally. Furthermore, cardiovascular diseases account for 17.9 million NCD-related deaths annually, followed by cancer types (9.3 million), chronic respiratory diseases (4.1 million), and diabetes (2.0 million, including kidney disease deaths caused by diabetes). According to the National Cancer Institute (NCI), cancer is increasingly becoming a global health issue. In 2020, more than 19.3 million new cancer cases resulted in approximately 10 million cancer-related deaths worldwide. The WHO estimates that 28.9 million new cancer cases and ∼16.2 million cancer-related deaths would be reported yearly by 2040. The rising burden of chronic diseases, along with the need for different treatment approaches, drives the demand for ablation devices.

Ablation Device Market, by Region, 2022 (%)

To get free sample copy of the report, along with the TOC, Statistics, and Tables please visit @ https://www.theinsightpartners.com/brochure/TIPRE00003095

Source: The Insight Partners Analysis

According to the Union for International Cancer Control (UICC), aging is a significant risk factor for cancer, and a higher incidence of the disease is observed in older adults. The WHO states that the proportion of the global population aged more than 60 would nearly double from 12% to 22% during 2015–2050. Per a study published in January 2023 by NCBI, the number of people aged 50 years and older in the US would reach 221.13 million by 2050, recording a massive increase from 137.25 million in 2020. People aged 50 and above are expected to suffer from at least one chronic disease, and the figure is projected to rise by 99.5% from 71.52 million in 2020 to 142.66 million by 2050. Further, ~14 million people are likely to suffer from multimorbidity by 2050. Ablation procedures are employed to provide minimally invasive treatment options for the elderly population, who may have higher surgical risks. Thus, the increasing geriatric demographic, coupled with a growing prevalence of chronic diseases, fuels the growth of the ablation devices market.

Abbott Laboratories; AtriCure, Inc.; Biotronik, AngioDynamics, Inc.; Boston Scientific Corporation; Johnson and Johnson; Conmed Corporation; Medtronic PLC; Smith & Nephew PLC; and Olympus Corporation are among the key companies operating in the ablation device market. The companies have been implementing organic (launches, expansions, and product approvals) and inorganic (product launches, collaborations, and partnerships) strategies, which contribute to their growth in the market.

In February 2023, Hologic Inc. announced the approval of the NovaSure V5 global endometrial ablation (GEA) device in Canada and Europe. The innovative new version incorporates enhanced features designed to treat a wide range of cervical and uterine anatomies. It builds on a world-class track record for NovaSure, including 3 million patients who have benefited from the device.

The report segments the ablation device market as follows:

The ablation device market is categorized on the basis of product, application, and end user. The market, by device, is segmented into radiofrequency devices, laser/light ablation, ultrasound devices, cryoablation devices, and others. The radiofrequency devices segment held the largest market share in 2022, and it is anticipated to register the highest CAGR during 2022–2030. Radiofrequency ablation is a minimally invasive procedure used to treat bones, tissues, myomas, thyroid, varicose veins, endometrium, etc. It is employed an alternative to the traditional surgical operation.

The ablation device market, by application, is segmented into cancer treatment, cardiovascular disease treatment, ophthalmologic treatment, gynecological treatment, urological treatment, cosmetic surgery, and others. The cardiovascular disease treatment segment held the largest market share in 2022. It is anticipated to register the highest CAGR during 2022–2030.

The ablation device market, by end user, is segmented into hospitals and clinics, ambulatory surgical centers, and others. In 2022, the hospitals and clinics segment held the largest market share. The same segment is anticipated to register the highest CAGR during 2022–2030. Hospitals and clinics are the primary end users of ablation devices as they offer a wide range of medical services, including noninvasive procedures that require ablation.

The ablation device market, based on geography, is segmented into North America (US, Canada, and Mexico), Europe (Germany, France, Italy, UK, Russia, and Rest of Europe), Asia Pacific (Australia, China, Japan, India, South Korea, and Rest of Asia Pacific), Middle East & Africa (South Africa, Saudi Arabia, UAE, and Rest of Middle East & Africa), and South & Central America (Brazil, Argentina, and Rest of South & Central America).

Contact Us
Contact Us: The Insight Partners 
Phone: +1-646-491-9876
Email Id: sales@theinsightpartners.com


The Insight Partners :    https://www.theinsightpartners.com

The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.


Smarter Decisions with Smart News

Smart Market News is committed to getting its readers the latest updates and insights on industries that help in making “smarter” business decisions. With insights and inputs from corporate decision makers, we bring you the stories of adopting innovative solutions and strategies that have been changing the world. Our editorial insights on products, solutions, companies, and adoption of best practices not only help in understanding the markets better, but also prove to be a complete package for your information needs.

Subscribe to our newsletter
Get the latest in your inbox weekly Sign up for the fully charged newsletter
© The News and Media Division of The Insight Partners 2024 | All Rights Reserved | Privacy Policy