The ablation devices market is poised to see substantial growth through 2028 owing to increasing occurrences of chronic illnesses in key regions across the globe.

Recently, industry players have been focusing on product innovation to expand their portfolio, which has positively influenced business growth. For instance, in February 2022, Medtronic plc, a major medical devices company, received U.S. FDA approval for its Freezor range of cardiac cryoablation catheters. The new ablation catheters are the only approved devices for the treatment of pediatric AVNRT (atrioventricular nodal reentrant tachycardia). These single-use devices enable safe and effective focal cryoablation therapy.

The ablation devices market has been categorized on the basis of technology, application, end-use, and region. Based on technology, the market has been segmented into laser/light ablation, radiofrequency devices, cryoablation devices, ultrasound devices, and others.

The laser/light ablation sub-segment is anticipated to see substantial growth at about 10.6% CAGR over the assessment timeframe. Increasing patient inclination towards minimally invasive surgical procedures, along with surging number of product approvals and launches, is likely to stimulate segmental growth in the coming years.

From the application perspective, the ablation devices market has been segregated into oncology, cosmetic surgery, cardiology, gynecology, ophthalmology, urology, and others. In 2021, the ophthalmology sub-segment was valued at over USD 600 million and is projected to grow at a robust pace over 2022-2028 driven by mounting incidences of eye-related diseases, such as cataracts, glaucoma, and macular degeneration. Additionally, rising patient preference for ablation procedures due to enhanced results and reduced post operative complications, coupled with continuous technological advancements in ablation devices, is slated to accelerate segmental growth in the forthcoming years.

Based on end-use, the ablation devices market has been divided into ambulatory surgical centers, hospitals, and others. The ambulatory surgical centers sub-segment accounted for nearly 25% market share in 2021 and is expected to progress at a solid CAGR through the study timeline. Growing network of ASCs in remote areas, enhanced accessibility with development of outpatient facilities, and integration of technologically advanced equipment in the settings are foreseen to bolster product demand in ambulatory surgical centers over the following years.

On the regional spectrum, the Latin America ablation devices market is projected to expand at a CAGR of approximately 10.3% through the forecast period to garner a sizable revenue by the end of 2028. Growing burden of chronic diseases and expanding aging population prone to several chronic disorders are set to promote product uptake in the LATAM region. Moreover, the evolving healthcare infrastructure, coupled with prominent business expansion efforts undertaken by industry players, is primed to foster regional industry outlook in the future.