- Hydromechanical Ablation
Ablation Devices Market size was valued at USD 8,463.9 million in 2022 and is anticipated to grow at a CAGR of 9.8% over 2023-2029. Ablation refers to the medical procedure of removing or destroying abnormal tissue, such as tumors or problematic cells, through the application of various energy sources. Ablation devices are specialized medical tools designed to deliver controlled energy, such as heat, radiofrequency, laser, or cold, to precisely target and treat specific areas within the body. These devices are used in a wide range of medical specialties, including cardiology, oncology, dermatology, and more, to treat conditions such as arrhythmias, cancers, and chronic pain. The growing global burden of chronic diseases coupled with the aging global population and increasing need for effective treatment options for chronic diseases play a significant role in driving the growth of the ablation devices market. According to the World Health Organization, Non-communicable diseases (NCDs) or chronic disorders such as cardiovascular diseases, cancer, and chronic pain conditions are responsible for 41 million deaths worldwide each year, which is 74% of all deaths. Additionally, the adoption of minimally invasive procedures using ablation devices has a substantial impact on increasing the revenues of the ablation devices market. Patients are increasingly seeking treatments that offer quicker recovery times, reduced pain, and shorter hospital stays, which has led to the popularity of minimally invasive techniques.
However, Ablation devices often involve significant upfront costs for healthcare facilities. This includes the cost of the devices themselves, as well as any necessary accessories, training, and maintenance. These high initial costs can be a barrier to the adoption of ablation devices for some healthcare providers. Meanwhile, Advancements in medical technology can lead to the creation of more precise ablation devices with real-time monitoring capabilities and improved patient outcomes. These developments also create opportunities for increased sales. Many manufacturers are working on creating innovative solutions specifically for the healthcare industry. For instance, in May 2023, Abbott received FDA approval for TactiFlex Ablation Catheter, a Sensor Enabled for the treatment of abnormal heart rhythm.
Fastest Growing Market
It is noticed that the global ablation devices market has a significant market growth rate with the relevance of rising population suffering from cancer and associated diseases. Ablation device market open a wide range of opportunity for the leading market players. According to WHO, there are approximately 14 million case and 8.2 million cancer related death and expected to be increased by next two decade by 70% and consider as the leading cause of morbidity and mortality in the world. Hence there is an immediate requirement of an advance technology which is innovative and safe which help the global ablation device market to flourish. Ablation devices help in destroying the cancerous cell and also can be use in a combination therapy with surgery, chemotherapy etc.
The ablation devices market size was valued at USD 8,463.9 million in 2022
Development in healthcare infrastructure and the rising prevalence of chronic diseases are some of the key opportunities for the companies to enhance their revenue over the forecast years.
The Integration of advanced technology with the ablation procedures is one of the major trends in the ablation devices market.