Ablation Technology Market size was valued at USD 5.74 billion in 2023 and is set to exceed USD 18.24 billion by the end of 2036, expanding at over 9.3% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of ablation technology is evaluated at USD 6.17 billion.
Across the globe, ablation procedures are gaining rapid popularity since they are used in minimally invasive ablation procedures. Lower risk of damage to tissues, less risk of infection, quick recovery, and cost-effectiveness of ablation are some of the primary drivers of this market. Growing adoption of ablation procedures in emerging economies such as India, China, Russia, and Brazil, owing to the presence of high unmet medical needs and rising per capita healthcare expenditure in these countries, is estimated to fuel the market growth. The increasing incidence of chronic diseases such as cancer, cardiovascular diseases, and others also contributes to the market's growth. According to the World Health Organisation data, cancer accounted for nearly 10 million deaths in 2020, and 17.9 million people die each year from cardiovascular diseases.
Growth Drivers
Challenges
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2023 |
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Forecast Year |
2024–2036 |
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CAGR |
9.3% |
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Base Year Market Size (2023) |
USD 5.74 billion |
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Forecast Year Market Size (2036) |
USD 18.24 billion |
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Regional Scope |
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The market is segmented on type into radiofrequency, laser/light, ultrasound, electrical, cryoablation, microwave, hydrothermal, and others, out of which, the laser segment is anticipated to grab the largest share by the end of 2021 on account of being one of the minimally invasive procedures, the laser ablation technique is comparatively less painful to other surgical treatment options. This technique also causes very little damage to the surrounding tissues compared to other techniques. Moreover, technological developments are expected to drive the global laser ablation technology market.
Based on application, the cardiovascular disease treatment segment is projected to grow with a significant CAGR over the forecast period. The rising incidence of atrial fibrillation across the globe, coupled with the development of novel ablation technologies for the treatment of atrial fibrillation, is the major factor driving the market's growth.
Our in-depth analysis of the global market includes the following segments:
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By Type |
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By Application |
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Geographically, the market is segmented into North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa region. The Asia Pacific industry is estimated to hold largest revenue share by 2036, due to various factors such as growing awareness, growing population, increasing income, eating habits, and changing lifestyles in the region. Furthermore, North America overtops the overall market in terms of market share due to the growing demand for minimally invasive procedures and increasing usage rates of ablation procedures. Along with this, North America also leads in terms of ongoing clinical trials, which is also expected to contribute to the region's market growth. As per the analysis of Centres for Disease Control and Prevention, U.S, in 2018, Atrial Fibrillation was mentioned on 175,326 death certificates and was the underlying cause of death in 25,845 of those deaths.
Author Credits: Radhika Pawar
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