Market Definition

Ablation devices is a minimally invasive alternative to traditional surgical treatment used in Liver, Lung, Kidney and Bone. Ablation devices is used for removal or destruction of abnormal tissue. Ablation devices can be used for the treatment of cancer and cardiovascular diseases (CVD).

Global ablation devices market is estimated to reach $XX billion by 2031, growing at a CAGR of 10.8% till 2031.

Market Dynamics

Rising incidence of cancer and cardiovascular diseases is one of the major factor boosting the market growth. For instance, according to the World Health Organization (WHO), in 2018, around 18.1 million new cancer cases were diagnosed globally, and 9.6 million people died due to cancer. Worldwide, the total number of people alive with 5-year cancer prevalence is around 43.8 million. According to the American Cancer Society, in 2020, an estimate of new cancer cases and deaths accounts for 1.8 million new cancer cases and 606,520 cancer deaths in the United States. According to the World Health Organization (WHO), each year, more than 3.7 million new cancer cases are diagnosed, and 1.9 million people die from cancer in Europe. According to the World Health Organization (WHO), India accounts for 1.16 million new cancer cases in 2018. In 2018, around 752,000 new cancer cases were diagnosed, and 506,000 died due to cancer in sub-Saharan Africa. According to World Health Organization (WHO), Cardiovascular diseases (CVDs) are the number one cause of death globally, around 17.9 million people die due to cardiovascular diseases each year, an estimate of 31% of deaths globally. More than 75% of cardiovascular diseases deaths occur in lower and middle-income countries. Heart attack and stroke are the cause of 85% of CVD deaths globally. In Europe, 3.9 million people die due to cardiovascular disease (CVD) each year. Further, increasing clinical studies regarding ablation is a key driving factor of the market. However, product recalls for ablation devices might hamper the market growth. Moreover, rising awareness related to ablation procedures would provide lucrative opportunities for the market in coming years.

Market Segmentation

The global ablation devices market is mainly classified based on type and application. Type is further segmented into Laser Ablation, Radiofrequency Ablation, Ultrasound Ablation, Cryoablation, Electrical Ablation, Microwave Ablation, and Hydrothermal Ablation. By application, the market is divided into Cancer, Cardiovascular, Orthopedics, and Pain Management.

Based on type, laser ablation has shown significant growth in 2020 owing to the increasing development of new advanced laser ablation, rising R&D activities regarding laser ablation, rising investment for the development of advanced ablation, and increasing regulatory approval of laser ablation. For instance, Avenda Health, a software, and medical device company that spun out of UCLA, has received the Food and Drug Administration (FDA) approval for their focal laser ablation system. Avenda Health's image-guided focal laser ablation system is designed to ablate soft tissue in a physician's office. Focal laser ablation system uses a proprietary laser needle and thermal optical sensor to precisely target and treat soft tissue while minimizing the impact on healthy tissues.

Regional Analysis

Based on geography, the global ablation devices market is divided into North America, Europe, Asia-Pacific, South America, and Middle East & Africa. North America is further divided in the U.S., Canada, and Mexico, whereas Europe consists of the UK, Germany, France, Italy, and Rest of Europe. Asia-Pacific is segmented into India, China, Japan, South Korea, and Rest of Asia-Pacific. The South America region includes Brazil, Argentina, and the Rest of South America, while the Middle East & Africa is categorized into GCC Countries, Egypt, South Africa, and Rest of Middle East & Africa.

North America was dominating the ablation devices market in 2020 owing to the rising cases of cardiovascular diseases and cancer. For instance, according to the American Heart Association, each year, 720,000 incidences of heart attacks are registered in the United States. According to the Canadian Cancer Society, in 2020, an estimate of 225,800 new cancer cases was diagnosed and 83,300 cancer deaths in Canada. Moreover, the launch of new advanced ablation devices in North American region is boosting the market growth. For instance, Abbott has introduced the IonicRF Generator. The IonicRF Generator is a radiofrequency ablation device that uses heat to target specific nerves and block pain signals from reaching the brain. It delivers a non-surgical, minimally invasive treatment for the management of pain in the nervous system.

Competitive landscape

Key players operating in the ablation devices industry include Medtronic, Inc., Boston Scientific Corporation, Abbott Laboratories, Johnson and Johnson, Smith & Nephew plc, Olympus Corporation, Biosense Webster, Inc., CONMED Corporation, AngioDynamics, Inc., and Varian Medical Systems Inc.

The increasing commercialization of regulatory approved ablation devices, partnership between companies to develop and supply ablation devices and expand its market presence, rising investment for the development of ablation devices, and strategic acquisition between companies to expand its product portfolio for ablation devices are some of the strategies adopted by the major players. For instance, Boston Scientific Corporation has signed an investment agreement with an exclusive option to acquire Farapulse, Inc., a company developing a pulsed field ablation (PFA) system for the treatment of atrial fibrillation (AF) and other cardiac arrhythmias. The PFA system comprising a sheath, generator and catheters and is intended to ablate heart tissue via the creation of a therapeutic electric field instead of using thermal energy sources such as radiofrequency ablation or cryoablation.

Ablation Devices Market Key Segments:

By Type