The market for ablation devices market was estimated to be worth USD xx billion in 2023 and is expected to grow at a compound annual growth rate (CAGR) of xx.x% from 2024 to 2034, reaching USD xx billion. The market is stable and expanding since it is in line with the healthcare industry.
Medical instruments known as ablation devices use various forms of energy to kill certain tissues and cells. It helps break up or insulate the electrical signals that cause irregular heartbeats by freezing or slightly burning heart cells, leaving scarring on the inside of the heart. This therapy is used to treat atrial fibrillation.
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GROWTH DRIVERS
One of the main factors propelling the market for ablation devices used to treat arrhythmias is the increase in the prevalence of chronic illnesses including cancer and cardiovascular disorders as well as the aging population. According to the National Institutes of Health, the number of people 50 and older who have at least one chronic illness is predicted to rise from 71.522 million in 2020 to 142.66 million in 2050, a 99.5% increase.
Additionally, it is anticipated that the number of people with multimorbidity will rise by 91.16% from 7.8304 million in 2020 to 14.968 million in 2050. The market demand is driven by the growing patient demand for minimally invasive procedures, such as ablation, which is fueled by shorter recovery times.
MARKET SEGMENTATION:
· By Technology- radiofrequency, laser/light ablation, ultrasound ablation, electrical ablation, cryoablation, microwave ablation, pulse-field ablation, hydrothermal/hydromechanical ablation
· By Product- systems and services
· By Application- cardiovascular, cancer, orthopedic, cosmetic/aesthetic, urological, gynecological, pain management and others
· By End Users- hospitals, surgical centers, ablation centers and others
· By Regions- North America, Europe, Asia Pacific, South America, Middle East and Africa
Global Key Players:
· Johnson & Johnson
· Medtronic
· Boston Scientific Corporation
· Abbott
· Atricure, Inc.
· Olympus Corporation
· Varian
· Ethicon
· CONMED Corporation
· Elekta AB
· Other Players
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