Comprehensive Ablation Devices Market Analysis 2024: Size, Share, And Key Trends
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What is the Expected Growth Rate of the Ablation Devices Market from 2024 to 2033?
The ablation devices market has expanded significantly in recent years, expected to rise from $7.78 billion in 2023 to $8.49 billion in 2024, with a CAGR of 9.2%. Growth has been driven by the increasing chronic disease burden, aging population, government support, research developments, and physician awareness.
The ablation devices market is projected to experience robust growth in the coming years, reaching $12.13 billion by 2028 with a compound annual growth rate (CAGR) of 9.3%. This growth can be linked to improvements in healthcare infrastructure, better integration of ablation devices with imaging technologies, rising disposable incomes, quicker regulatory approvals, and increased patient awareness. Notable trends during this period include a greater reliance on robotics, expansion into non-oncology uses, advancements in real-time imaging, telemedicine, remote monitoring, and a rise in personalized ablation treatment plans.
What Key Factors Are Fueling the Growth of the Ablation Devices Market?
The growing incidence of chronic diseases is anticipated to drive the expansion of the ablation device market in the future. This rise in chronic conditions is attributed to lifestyle changes, an aging population, and increased life expectancy. Ablation devices are utilized in chronic disease management to selectively eliminate abnormal tissues, offering minimally invasive treatment alternatives for ailments such as cardiac arrhythmias and certain cancers. For example, a report from the American College of Cardiology in August 2022 projected significant increases in major cardiovascular risk factors in the U.S. from 2025 to 2060, with diabetes expected to rise by 39.3% to 55 million individuals, dyslipidemia by 27.6% to 126 million, hypertension by 25.1% to 162 million, and obesity by 18.3% to 126 million. Additionally, cardiovascular disease rates are expected to rise significantly for stroke (33.8% to 15 million) and heart failure (33.4% to 13 million), alongside ischemic heart disease (30.7% to 29 million) and heart attacks (16.9% to 16 million). Hence, the rising prevalence of chronic diseases is propelling the growth of the ablation device market.
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What Are the Major Segments of the Ablation Devices Market?
The ablation devices market covered in this report is segmented –
1) By Product: Laser Ablators, Radiofrequency Ablators, Microwave Ablators, Ultrasound Ablators, Electric Ablators, Hydrothermal Ablators, Cryoablators
2) By Technology Type: Radiofrequency Ablation, Microwave Ablation, Cryoablation, High-Intensity Focused Ultrasound, Laser Interstitial Thermal Ablation, Other Technology Types
3) By Function: Automatic, Robotic
4) By End-Users: Hospitals And Clinics, Ambulatory Surgical Centers, Others End-Users
What New Trends Are Transforming the Ablation Devices Market?
Major companies in the ablation devices market are developing innovative solutions, like the cryoballoon ablation system, for treating Barrett’s esophagus. This medical device freezes and ablates tissue using a balloon-based catheter for cardiac arrhythmias. For example, in October 2022, Pentax of America Inc., a Japan-based company, launched the C2 CryoBalloon Ablation System in Canada for Barrett’s esophagus treatment, showing high effectiveness with less pain and reduced need for pain medication compared to traditional Radio Frequency Ablation (RFA).
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Which Regions Are Driving Growth in the Ablation Devices Market?
North America was the largest region in the ablation devices market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the ablation devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The Ablation Devices Global Market Report 2024 offers a comprehensive overview of the audio equipment market, covering historical data from 2010 to 2021 and providing a ten-year forecast from 2023 to 2032. This report examines the size of the ablation devices market, its market share, and analyzes key competitors along with their market positions.
The Table Of Content For The Ablation Devices Market Include
1. Ablation Devices Market Executive Summary
2. Ablation Devices Market Segments
3. Ablation Devices Market Size And Template Market Growth Rate
4. Key Ablation Devices Market Trends
5. Major Ablation Devices Market Drivers
……
25. Key Mergers And Acquisitions In The Ablation Devices Market
26. Top Ablation Devices Companies
27. Ablation Devices Market Opportunities And Strategies
28. Ablation Devices Market, Conclusions And Recommendations
29. Appendix
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