The global ablation technologies market size is estimated to be USD 5791 Million in 2024 and worth USD 10,079 Million by 2029, growing at a CAGR of 11.72% during the forecast period.
Ablation technology is a beneficial procedure in removing tumor cells from the specified cells. The patient can quickly recover in a short period as this procedure causes less damage to the surrounding cells. According to the American Heart Association, cardiac arrest incidences rise from 326,200 in 2014 to 23.6 million by 2030. The market size will hit the highest CAGR in the coming years due to a surge in these incidences. Collaborations, joint agreements, and company acquisitions are essential to establishing new strategies or product launches. The addition between BTG Plc and Galil Medical, a leading company in manufacturing cryoablation systems and needles, has helped the companies expand their portfolios.
Growing incidences of chronic diseases are expected to favor the global ablation technologies market growth. An increase in the number of people suffering from long-term diseases like cancer, cardiac ailments, and others is a significant factor propelling the market's demand. Adopting sedentary lifestyles and food habits changes are the primary reasons for the rise in chronic disease incidences. The growing economy in developed and developing technology is making the market size move forward. Also, increasing support from the government through investments is escalating the demand for the ablation technologies market.
The prevalence of minimal and non-invasive procedures is a positive signal for the growth rate of the market to hike further. Ablation techniques are beneficial compared to chemotherapy as they show significantly fewer side effects. People's interest in minimally non-invasive procedures significantly influences the demand for the ablation technologies market. The launch of innovative techniques in healthcare is estimated to help the market grow. The emergence of the latest techniques in the healthcare sector is escalating the market's growth rate. Launching innovative products in favor of the end-users is solely to propel the growth rate of the Ablation Technologies Market.
The high cost of ablation procedures is expected to limit the market growth during the forecast period. Ablation procedures require massive amounts that ordinary people cannot afford to restrain the market growth slowly. Besides, the lack of reimbursement in some areas impedes the growth rate of the ablation technologies market. The government is taking strict measures to support the public in approving the new products, degrading the market growth. People in rural areas are less aware of these procedures, and this is impeding the demand of the market. Creating awareness through campaigns and digital advertisements may positively impact the growth of the ablation technologies market.
The global ablation technologies market growth had a downfall during the first quarter of 2020. The outbreak of Covid-19 has disrupted the market growth of ablation technologies due to the nationwide lockdown. The government and healthcare professionals' primary focus was to fight COVID-19 postponing all the ablation procedures. The ablation procedure has accelerated after the decline in the COVID-19 increase rate. The decline in the cases has led to the uplift of lockdowns globally. Now that most of the world has started resuming all its operations, the market is expected to accelerate in the coming days and is forecast to be on the right path by the end of 2021.
REPORT METRIC |
DETAILS |
Market Size Available |
2023 to 2029 |
Base Year |
2023 |
Forecast Period |
2024 to 2029 |
Segments Covered |
Based on the Product, Application, and Region |
Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, Drivers, Restraints, Opportunities, Challenges, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview of Investment Opportunities |
Regions Covered |
North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
Market Leaders Profiled |
Biosense Webster, Inc., St. Jude Medical, Inc., Boston Scientific Corporation, AngioDynamics, Inc., AtriCure, Inc., Smith & Nephew plc, Galil Medical Inc., CONMED Corporation, Olympus Corporation, Covidien PLC, Medtronic, Inc. |
Based on product type, the radiofrequency products segment held the major share of the global ablation technologies market in 2023 and is expected to grow at a notable CAGR during the forecast period owing to the minimal costs associated with ablation procedures.
The light/laser ablation segment had the second biggest share of the worldwide market during the forecast period owing to the increasing number of surgeries. The growing prevalence of chronic incidences and increasing healthcare expenditure are further favouring the segmental growth.
Based on type, the microwave ablation segment led the market in 2023 and is expected to grow promisingly during the forecast period owing to its high efficiency in treating cancer.
Based on application, the cardiovascular diseases treatment segment held the biggest share of the worldwide market in 2023 and is expected to grow at a prominent CAGR during the forecast period owing to the rise in the risk of cardiac arrest and growing demand to promote new techniques.
The cancer treatment segment is projected to have the highest CAGR in foreseen years with the growing need to improve healthcare infrastructure.
The ophthalmologic and gynecologic treatment segments show a steady growth rate in the forecast period.
In 2023, North America was the regional market leader in the global ablation technologies market. The U.S. is the one with the most significant shares in this region with adopting the medical sector's latest technologies. They are increasing healthcare centers with the new ablation technology to fuel the market demand in North America. Europe is following North America in leading dominant shares of the market with the growing prevalence of the adoption of safe and efficient techniques. Asia Pacific to hit the highest CAGR in the foreseen years. Countries like India and China are playing a pivotal role in enhancing the growth rate of this market. The increasing elderly population is undoubtedly a significant factor in the growing market in this region.
Some of the promising competitors in the global ablation technologies market profiled in this report are Biosense Webster, Inc., St. Jude Medical, Inc., Boston Scientific Corporation, AngioDynamics, Inc., AtriCure, Inc., Smith & Nephew plc, Galil Medical Inc., CONMED Corporation, Olympus Corporation, Covidien PLC, Medtronic, Inc., and BSD Medical Corporation. Key market leaders in the global ablation technologies market like Biosense Webster, Inc. and Metronic, Inc. are using acquisitions, new product launches, high investments in R&D, and technology innovations as their strategies to strengthen their position in the market.
In May 2019, Cartonet Analytics Software for Electrophysiology was launched by Biosense Webster, which will improve procedural efficiency. Electrophysiologists can review, analyze, and share atrial fibrillation case data through the cloud-based network provided by the software.
By Product
By Type
By Application
By Application
By Region
Frequently Asked Questions
The worldwide ablation technologies market was worth USD 4640.8 Mn In 2022.
The growing prevalence of chronic diseases, rising demand for minimally invasive surgical procedures, and technological advancements in ablation devices are majorly propelling the growth of the ablation technologies market.
Medtronic plc, Boston Scientific Corporation, Abbott Laboratories, AngioDynamics, Inc., and AtriCure, Inc. are some of the notable players in the ablation technologies market.
North America is expected to dominate the ablation technologies market in the coming years due to the high prevalence of chronic diseases and the availability of advanced healthcare infrastructure.
Related Reports
Access the study in MULTIPLE FORMATS
Purchase options starting from $ 1800
Didn’t find what you’re looking for?
TALK TO OUR ANALYST TEAM
Need something within your budget?
NO WORRIES! WE GOT YOU COVERED!
Call us on: +1 888 702 9696 (U.S Toll Free)
Write to us: [email protected]
Reports By Region