Ablation Equipment Market Size, Share, Growth, and Industry Growth by Type (Ultrasound Ablation and Radiofrequency Ablation) By Application (Hospitals, Clinics and Other) Regional Forecast To 2032

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Ablation Equipment Market Report Overview

Theglobal ablation equipment market size is expected to be USD 8.953 billion in 2023 and the market is projected to touch USD 25.02 billion by 2032, exhibiting a CAGR of 12.1% during the forecast period.

Ablation therapy can be used to treat a variety of illnesses in a number of medical specialties, including ophthalmology, cancer, gynecology, and cardiology. Since it is a minimally invasive technique, recovery time is shortened and discomfort is reduced compared to traditional surgical procedures. It also does very little harm to the tissues in the immediate vicinity. It has certain drawbacks even though it lessens the negative effects.

COVID-19 Impact: Decreased Death Rate Linked To Covid- 19  Led to Lower Risk of Infection

The COVID-19 pandemic hindered the expansion of the ablation devices market in 2020, but the sector picked up steam in 2021 as a result of a decline in COVID-19 cases. The adoption of standard operating procedures, preventative measures, and the decreased death rate linked to COVID-19 allowed other operational processes in healthcare institutions to continue with a lower risk of infection. As a result, the market saw revenue gradually increase as the number of COVID-19 cases declined in several regions throughout the fiscal year 2021.

LATEST TRENDS

"Growing Use of Robotic Technologies And Integrating Cutting- Edge Technology to Boost the Market"

The market size will be driven by the growing use of robotic technologies for the expansion of product applications and the integration of cutting-edge technology in ablation devices to provide improved patient safety and procedure efficiency.

For instance, Boston Scientific Corporation introduced the DIRECTSENSE technology in June 2020 to track the effects of radiofrequency energy delivery during cardiac ablation surgeries. This radiofrequency ablation device generates radio waves that cause a tiny area of neural tissue to heat up and convey messages that reduce pain. The usage of ablation devices is anticipated to increase as a result of these developments.

Ablation Equipment Market Segmentation

• By Type Analysis

By type, market is segmented into ultrasound ablation and radiofrequency ablation. The ultrasound ablation segment will dominate the market in the coming years.

• By Application Analysis

Based on applications, the market is classified into hospitals, clinics and others. The hospitals segment will lead the global share through 2030.

DRIVING FACTORS

"Growing Advantages of Less Intrusive Treatment Methods to Propel the Market"

The increased incidence of atrial fibrillation in the population will have a beneficial effect on the number of cardiac ablation treatments. Atrial fibrillation patients benefit from optimum effectiveness, low risk, and more convenience from minimally invasive ablation procedures. Ablation device usage will therefore fuel the market for these devices throughout the projection period due to the growing advantages of less intrusive treatment methods.

One of the key elements driving the global ablation device market share is patient preference for minimally invasive procedures over open surgeries. Compared to traditional surgeries, minimally invasive procedures have seen a sharp rise in acceptance and popularity in recent years. This is largely due to the shorter hospital stays, quicker recoveries, and reduced pain associated with these procedures.

"Availability of Qualified Medical Professionals and Increased Hospital Capacities to Augment the Demands"

The availability of cutting-edge therapies and an increase in hospital capacity are expected to increase hospital choice among patients. Additionally, the market value of ablation devices will be influenced by the availability of qualified medical professionals and the substantial efforts made by market participants to inform and educate professionals about the state-of-the-art ablation technologies on the market.

RESTRAINING FACTORS

"Less Treatment Possibility for Big and Bulky Tissues to Hamper the Market Demands"

Ablation device cannot be used to treat tissues that are big and bulky, such as bone and neck nodules. In addition, there are few ablation treatments available in rural areas which in return leads to the market hindrance.

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Ablation Equipment Market REGIONAL INSIGHTS

"North America to Hold Global Ablation Device Market’s Largest Share"

In 2021, the market for ablation devices in North America accounted for a sizeable portion of revenue. One of the main factors propelling the regional market growth is the rising prevalence of cancer and other chronic diseases, as well as the growing elderly population. A significant number of new cancer cases and cancer-related deaths were reported in the area in 2018, according to the American Cancer Society.

Furthermore, because of structural changes associated with aging and the geriatric population's increased susceptibility to several chronic conditions, there is an increasing need for treatment procedures, which will have a positive effect on the uptake of products in the North American market. Additionally, it is anticipated that the regional market trends will be fueled by a developed healthcare infrastructure and rising ablation device adoption rates.

KEY INDUSTRY PLAYERS

"Key Players Focus on Partnerships to Gain a Competitive Advantage "

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead in the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolio.

LIST OF TOP ABLATION EQUIPMENT COMPANIES

• Medtronic plc (Ireland)
• Histo Sonics Inc (U.S.)
• Imricor Medical Systems Inc (U.S.)
• Mirabilis Medical Inc (U.S.)
• Angio Dynamics Inc (U.S.)
• Creo Medical Ltd. (U.K.)
• Harmonic Medical Inc (U.S.)
• CPSI Biotech (U.S.)
• Innoblative Designs (U.S.)
• Integra LifeSciences Holdings Corp (U.S.)
• TransEnterix (U.S.)
• Prosurg Inc (U.S.)
• Pulse Biosciences (U.S.)
• Southern Illinois University Carbondale (U.S.)
• Thermedical Inc (U.S.)

REPORT COVERAGE

The market research study examines the worldwide market in detail, focusing on important elements such as leading players, product/services or type, and leading end-use applications. Aside from that, the research analyses major advancements and provides insights into lighting market trends. In addition to the causes indicated above, the paper includes a number of other factors that have contributed to recent growth.