Transforming Medical Interventions: Ablation Devices Market Envisioned to Reach US$ 12.6 Billion by 2033

In 2023, the global Ablation Devices Market is expected to exceed US$ 4.4 billion. The market is expected to reach US$ 12.6 billion by 2033, growing at a healthy 11.1% CAGR.

Key Factors Aiding the Growth of the Ablation Devices Market Between 2023 and 2033:

•Wide adoption of minimally invasive surgical processes, owing to lesser patient trauma and recovery time

•Wide utility in oncology, as incidences of cancer rise globally

•Increasing consumer demand for radio-frequency-based ablation devices
during the forecast period

•Recent technological innovations such as heat-based ablation devices are aiding in consumer base expansion as well as application

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Ablation Devices Offer Advantages Over Traditional Surgical Procedures
Ablation devices offer minimally invasive procedures, which are less painful than
traditional surgical procedures. Hence the recovery time is also shorter. The damage incurred to the surrounding tissues shall also be minimal. This has bolstered consumer preference for the product.

Expansion of Product Application Warrants Key Innovations
The application of ablation Devices for large and bulky tissues isn't possible currently. This includes sensitive areas such as the bone and neck nodules. Ablation treatment is yet to garner wide availability in remote locations. Hence, many patients belonging to low-income groups could have restricted access to ablation treatments.

Hence, key players must consistently work on developing alternatives that are more efficient with diverse applications. By making these new variants more affordable and easily accessible, key players can attract a larger consumer base. The heavy investments being channeled by key players into research and development could be beneficial for overcoming such market restraints, in the foreseeable future.

Key Takeaways from the Report:
•Between 2017 and 2022, the market recorded a CAGR of 9.8%, attaining a valuation of US$ 4.9 billion in 2022.

•During the forecast period, the United States market is expected to grow at a CAGR of 11.0%, to reach a valuation of US$ 4.0 billion by 2033.

•The United Kingdom market is projected to grow at a CAGR of 12.6% between 2023 and 2033.

•The top segment by product type, the advanced ablation catheters, is expected to grow at a CAGR of 10.7%.

•By technology, the radiofrequency segment dominates the market and is anticipated to grow at a CAGR of 10.1%.

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Key Market Developments:
•In February 2022, Ra Medical Systems secured the patent for its latest innovation: a support catheter. The product can easily be combined with any small flexible liquid core catheter, facilitating laser ablation.

•In November 2021, Hologic, Inc., launched the NovaSure V5 Global Endometrial Ablation (GEA). This latest innovation is crafted with EndoForm technology. The product can accommodate different types of anatomical variability and cervical canals.

•In August 2019, Boston Scientific Corporation launched its advanced cryoablation system which is known as ICEfx™. The specialty of this device is that it is a more compact, portable alternative to older versions.

Key Players:
•Boston Scientific Corporation
•Medtronic plc
•Abbott Laboratories
•Johnson and Johnson
•AngioDynamics Inc.
•Biotronik SE & Co. KG.
•Japan Lifeline Co.
•CathRx Ltd.
•AtriCure, Inc.
•Hologic, Inc.

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Ablation Devices Market by Category :
By Product Type:
•Bipolar Energy Ablation Devices
•Cryotherapy Ablation Devices
•Hydrothermal Ablation (HTA) Devices
•Thermal Balloon Ablation Devices
•Advanced Ablation Catheters
oCryoablation Catheters
oIrrigated tip RF Ablation Catheters
oLaser Ablation Catheters
•Standard Ablation Catheters
oConventional Radiofrequency Ablation Catheters
•MRI Guided Neurosurgical Ablation
oMRI Guided Laser Therapy Systems
oMRI Guided RF Ablation Systems
oMRI Guided Focused Ultrasound Systems
oAccessories

By Technology:
•Laser
•Radiofrequency
•Microwave
•Ultrasound
•Others

By Application:
•Cardiovascular
•Cancer
•Urological
•Ophthalmic
•Others

By Functional:
•Automated Robotics
•Conventional

By End User:
•Hospitals
•Ambulatory Surgical Centers
•Clinics

About Future Market Insights (FMI):
Future Market Insights, Inc. (ESOMAR certified, Stevie Award - recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favour the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10 years.

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Report : https://www.futuremarketinsights.com/reports/ablation-devices-market

This release was published on openPR.