Ablation Devices Market Demand, Regional Overview, Business Growth & Forecast 2028
The ablation devices market size is anticipated to annually exceed USD 16 billion in valuation by 2028.
The ablation devices industry worldwide is projected to churn out massive profits, on account of the rising acceptance of minimally invasive procedures and the thriving burden of non-operable liver tumors. According to the American Cancer Society, liver cancer is a leading cause of cancer deaths across the globe, as it accounts for nearly 700,000 deaths each year.
According to Global Market Insights Inc., the ablation devices market size is anticipated to annually exceed USD 16 billion in valuation by 2028.
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With the rising dominance of various health issues, like heart issues, and back pain among others, there have been rapid strides in the designing and manufacturing of advanced energy-based medical accessories and systems. This has led to higher integration of medical devices with radio frequency (RF) ablation has largely expanded.
In recent years, to support patient safety, clinical efficacy, and procedural efficiency, a large number of innovations can be witnessed in ablation technologies. To state an instance, new ablation tools, like CF-sensing catheters are increasingly adopted for overcoming a major limitation of PV-reconnection for improved outcomes.
To cater to the rising end-user demands, new product developments are likely to substantially contribute to the ablation devices market in the coming years. For instance, in January 2021, Medtronic announced the U.S. FDA (Food and Drug Administration) approval of its DiamondTemp™ Ablation system. This novel device is used for treating patients with recurrent, symptomatic paroxysmal atrial fibrillation, that show no response to drug therapy.
Growing adoption of cryoablation devices
Cryoablation has lately garnered significant traction as a treatment method involving the freezing and thawing process for killing cancer cells affecting the bone, lung, prostate, breast cervical, eye, kidney, and liver. Owing to this, cryoablation devices have grown largely popular as they help in relieving pain and other symptoms caused by these cancers that spread to the bone as well as multiple organs, further driving ablation devices industry growth.
Other than cancer tumors and arrhythmia, these devices are considered ideal for tending to the abnormalities on the skin, like atypical moles, warts, skin tags and actinic keratosis. The increasing preference for cryoablation as an alternative to RF ablation, in terms of limited coronary artery injuries and the absence of cooling blood flow, will also contribute to the market dynamics.
Rising burden of cardiac diseases
In order to treat various cardiac ailments like arrhythmia, irregular heartbeat, and atrial fibrillation, the use of ablation devices is likely to witness a surge in the forthcoming years. As per NHS (National Health Society), atrial fibrillation is one of the most common type of heart rhythm disturbances and affects over 1.4 million people in the U.K.
Besides the growing penetration of these heart-related ailments, the increasing concerns over sudden cardiac arrest (SCA) will assist in the development of the cardiac ablation devices industry. To quote an instance, in November 2021, Medtronic introduced the arctic front advanced cardiac cryoablation catheter technology for the treatment of atrial fibrillation across India.
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In the years to follow, the ablation devices industry is likely to garner noteworthy proceeds with the higher application of this treatment method to treat multiple other organ sites. They are largely deployed in hospitals and ambulatory surgical centres for destroying abnormal tissue in various health conditions. The rising advances in new ablation systems in cardiac electrophysiology will additionally anchor the industry dynamics.
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