North American Ablation Device Market size is predicted to surpass USD 6.5 billion by 2028, according to a latest forecast report by Graphical Research.
The growing prevalence of cardiovascular disorders and high cholesterol contributing to the incidence of cerebrovascular diseases will positively influence the market growth potential. Furthermore, growing geriatric population base in North America will further contribute to the market expansion. According to the Administration for Community Living, number of Americans aged 45-64 has increased by 4% from 80.3 million in 2009 to 83.3 million in 2019. Additionally, growing awareness regarding advanced treatment and improving sophisticated infrastructure is projected to increase the market demand.
Continuous technological developments in ablation devices in recent years will strengthen overall industry growth. Strong presence of companies involved in development of technologically advanced ablation devices is one of the key factor influencing the market revenue. Further, development of innovative radiofrequency ablators for minimally invasive cardiac procedures with affordable cost and accuracy is projected to enhance the demand for ablation devices procedures in the region. For instance, in February 2019, Medtronic launched the Accurian radiofrequency (RF) ablation system in the U.S. This radiofrequency ablation device delivers radio waves that cause a small part of nerve tissue to heat up, for sending signal to reduce the pain.
The COVID-19 pandemic has negatively impacted the overall North America ablation devices industry in 2020, however, with declining number of COVID-19 cases the market has gained momentum in 2021. The temporary ban on elective procedures in clinical settings, as well as the imposition of preventive lockdown in countries, have disrupted supply chain and logistics. Furthermore, patient aversion to visiting clinical facilities hampered industry growth. However, due to the rising prevalence of various heart diseases and increased public awareness of ablation procedures.
The ultrasound devices segment will witness 9.7% CAGR during the forecast timeframe attributed to increasing demand for minimally invasive procedures for the treatment of several cardiovascular disorders and cancer. Further, rising technological advancements, supported by novel product launches by companies. For instance, in September 2020, Philips Healthcare developed the Affiniti CVx, the recent addition to its dedicated cardiovascular ultrasound solutions to assist cardiology departments with improving the quality of care to more patients and increasing efficiency of the device.
Browse detailed statistical insights from the report, “North America Ablation Devices Market Forecast 2028 By Application (Cardiology, Oncology, Ophthalmology, Gynecology, Urology, Cosmetic Surgery), By Technology (Radiofrequency Devices, Laser/Light Ablation, Ultrasound Devices, Cryoablation Devices), By End-use (Hospitals, Ambulatory Surgical Centers), Research Report, Country Outlook (U.S., Canada), COVID-19 Impact Statistics, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share” along with the table of contents (ToC) @
The cardiology segment accounted more than USD 1.2 billion revenue in 2021 owing to growing awareness regarding cardiac abnormal heart rhythm and benefits associated with use of ablation devices. Furthermore, the rising prevalence of atrial fibrillation will increase demand for ablation devices. According to the CDC, 12.1 million people in the U.S. will have atrial fibrillation by 2030. Thereby, aforementioned factors are expected to boost of the industry outlook.
The ambulatory surgical centers segment was valued at USD 725 million revenue in 2021 on account of increasing adoption of ablation devices in ambulatory surgical centers. Additionally, availability of advanced ablation devices and innovative technology for the treatment of several diseases in ambulatory surgical center will accelerate the market growth. Moreover, cost-effective treatments in centers and favorable reimbursement scenarios is set to augment the market expansion.
Canada ablation device industry will observe around 11.5% CAGR through 2028, driven by growing geriatric population which is more prone to several chronic diseases. Additionally, increasing government spending on healthcare sector will further contribute to the market size. Furthermore, favorable demographics such as the growing number of elderly populations, the rising prevalence of cardiac illnesses, and the adoption of new technology would drive ablation device demand in the country.
The North American ablation device market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD million from 2017 to 2028, for the following segments:
North America Market, By Product
- Radiofrequency devices
- Laser/light ablation
- Ultrasound devices
- Cryoablation devices
North America Market, By Application
- Cosmetic surgery
North America Market, By End-use
- Ambulatory surgical centers
The above information has been provided for the following countries: