Ablation Technology Market

Market Overview

The global Ablation Technology market size is registering a CAGR of 9.54% during the forecast period 2023-2031.

Ablation technology is the process of removing part of biological tissue by surgery. Ablation devices offer a minimally invasive alternative to traditional surgeries to treat prostate, kidney, liver, and lung cancer. Products, application end-user, and regions segment the global ablation technology industry. Due to the rising number of cancer and heart disease patients, it is an uprising market with excellent growth potential. 

The growth of the market under study is anticipated to be fueled by the increase in chronic diseases worldwide.The blood flow measurement device market is expanding due to several research and development projects concentrating on cutting-edge ablation devices. For instance, Acutus Medical began a prospective, multi-center, non-randomized, international clinical study in May 2021 intending to prove the efficacy and safety of the AcQBlate Force Sensing System.

Market Dynamics

Market Drivers

Prevalent Health Concerns to Stimulate the Need for Ablation Technology

Chronic diseases such as cardiovascular diseases and cancer are primary reasons for mortality. Inappropriate care and negligence in monitoring diseases have caused more demises. Statistics for Disease Control and Prevention Centers state that 18.2 million people aged 20 and above suffer from coronary artery disease. 6,55,000 people in the US die from heart disease every year. According to the AHA of 2019, 5.3 million US citizens had atrial fibrillation.

The statistics of the British Heart Foundation Suggest that 7.4 million people in total, including 3.9 million men and 3.5 million women, have heart and circulatory diseases in the UK. The global cancer burden in 2018 was estimated to rise to 18.1 million new cases and 9.6 million worldwide deaths. Additionally, one in five men and one in six women are diagnosed with cancer. Asia-Pacific has the most significant number of deaths due to cancer.

In 2016, the World Health Organization reported that 16.3% of the deaths in Asia-Pacific were due to cancer. Cardiovascular disease (CVD) is the second-largest disease that has haunted the Asia-Pacific region. Ablation is a minimally invasive procedure that includes surgical excision of body tissues. It has advantages such as a low risk of damaged tissues, reduced risk of infection, and speedy recovery. The ablation technology is also cost-effective, which is expected to boost the ablation technology market growth.

Market Restraints

High Cost of Product to Suppress Growth of the Global Ablation Technology Industry

Regarding cardiac arrhythmia, cancers, and ophthalmologic and urological treatments, ablation technology has considerably advanced. These diseases are pretty disastrous as they have a history of severe symptoms. Some countries provide citizens with the facility of government medical insurance that covers hospital expenses, physician fees, equipment charges, etc.

The cost of the treatment differs with the severity and age of the patient. It will cost around 1–1.25lakhs rupees in India to get catheter ablation. This cost may differ on the type of hospital, the surgeon, etc. In a decision-analytic model, Eckard et al. estimated the cost for ablation to be around USD 58,000 per quality-adjusted life-year. This cost is predicted without assuming stroke prevention related to the ablation strategy. Thus, the high cost can restrain the growth of the global ablation technology market.

Market Opportunity

Advancements in Medical Technology to Create Growth Opportunities

Countries including India, China, Malaysia, and South Korea are making critical advancements in terms of medical technology. These regions have seen a rise in geriatric patients, cancer, cardiovascular diseases, and liver disorders. This creates an excellent opportunity for the ablation technology to persevere. The large patient base in these countries creates potential opportunities.

In addition, growing healthcare expenditure, infrastructure, and low regulatory barriers are other reasons contributing to the ever-growing global ablation technology market share. Local and regional players in this market are majorly investing in R&D, which is expected to impact the market during the forecast period positively.

Regional Analysis

Depending on the region, the market is analyzed in North America, Asia-Pacific, Europe, and LAMEA. Europe dominates the market.

Europe dominates the market with 60% of the market share. Europe has a growth potential of roughly 9.1%. The high amount of cancer and heart diseases prevailing in Europe are major driving factors for the market. Germany and France have the most extensive user base and contribute to the European ablation technology market share by 31.1% and 24.1%, respectively. Here, radiofrequency ablators are the most used products for the prevailing cancer ailment across Europe. At the same time, CVD is responsible for 37% of mortalities in Europe.

Asia-Pacific is predicted to experience high growth during the forecast period. Due to the adoption of cutting-edge technology, enhanced healthcare infrastructure, and improving economic conditions in emerging economies like China and India, the Asia Pacific region will present lucrative opportunities. The growing government support for expanding healthcare options and the extensive use of technology in healthcare will propel the ablation technology market in this region. Over the forecast period, it is anticipated that the developing economies of China and India will represent the most lucrative markets for ablation technology in this area. Rising cancer rates are anticipated to be a key factor driving the ablation technology market in these nations.

The North American ablation devices market's rapid growth is due to The high incidence of cancer, high purchasing power, technological advancements, and government support for high-quality healthcare. The market in North America is anticipated to be driven by rising expenditures on cancer treatment research and development. According to the National Cancer Institute (NCI), national spending on cancer care in the United States is predicted to reach USD 156 billion by 2020. Therefore, the market is anticipated to experience a high growth rate over the forecast period.

Segmental Analysis

The market is segmented by Product, application, end-user, and region. 

Ablation technology is a less invasive method to treat critical conditions such as cancers and arrhythmias, cardiovascular diseases, etc. Products such as radiofrequency ablators, laser ablators, ultrasound ablators, electrical ablators, cryoablation devices, microwave ablators, and hydrothermal ablators are available in the global market and are used to treat serious diseases. 

Radiofrequency ablators are the most frequently used Product and cover around 39% of the market. Due to its extensive use and newer applications, the demand for the Product is forecasted to rise at a CAGR of ~9.5% by the end of 2031. Targeted tissue destruction is achieved through thermal energy during radiofrequency ablation (RFA), a medical procedure. Various medical conditions are treated with RFA technology. It is used to treat tumor spots, patients with cancer of the breast, bone, kidney, liver, lung, pancreas, and thyroid, as well as those with cancer of the adrenal glands. To treat skin lesions, freckles, acne, and skin tags, this technology has also attracted a lot of interest in the field of dermatology. All of these RFA technology benefits contribute to the market's expansion.

The global ablation technology industry is becoming a booming sector due to its less invasive methods and growing patient base. It is used in cardiovascular disease treatment, cancer treatment, pain management, trauma, and others. Due to its effectiveness in treatment, cancer patients are the primary consumers of this technology. It roughly contributes 33% of the ablation technology market share and has proven helpful for treating lung, liver, and kidney cancer.

Hospitals and surgical centers, ablation centers, ambulatory surgical centers, medical spas, aesthetic clinics, and others are the end-users of the ablation technology. 

Atrial fibrillations, cancer, chronic pain, and trauma, among other critical conditions, are the main reasons hospitals and surgical centers uphold this market by approximately 45%. Based on Straits research, By the end of 2031, the segment is expected to grow at a CAGR of 9.4%.

Impact of covid-19

The pandemic has created huge havoc across the global medical network. In effect, the ablation technology and delivery care sector were hampered as well. People suffering from chronic ailments such as cancer, uterine fibroids, hemorrhagic stroke, etc. were affected the most. Pandemic restrictions had put limitations on surgical procedures, outpatient visits, etc. Selective and non-urgent procedures were put on halt.

If exposed to the virus, patients with cardiac arrhythmias and other respiratory disorders can experience complications, and thus, any procedure or visit that was avoidable was postponed or paused as well.

Recent Developments

• In December 2022, Medtronic completed enrolling participants in a pivotal trial evaluating a novel pulsed field ablation catheter for atrial fibrillation patients.
• In October 2022, Medtronic announced the opening of the Medtronic Neurovascular Co-LabTM Platform to promote rapid innovation in treating stroke.
• In October 2022, To meet the needs of healthcare professionals for high-quality, clear images when performing the endoscopic ultrasound procedure, Olympus Corporation (Olympus), a global MedTech company dedicated to making people's lives healthier, safer, and more fulfilling, today announced the launch of EU-ME3, a new Endoscopic Ultrasound Processor*. Within this fiscal year, EU-ME3 will be made available in Europe, the Middle East, Africa, Asia, and Oceania. The 30th United European Gastroenterology Week (UEG Week), which runs from October 8 to October 11, featured an exhibition of EU-ME3.