Thermal Ablation Device Market to increase at a 6.8% CAGR with a valuation of $14,594 million by 2034 | Fact MR. Report

Explore the growing thermal ablation device market driven by innovation, minimally invasive solutions, and expanded medical applications.

ROCKVILLE, MD, UNITED STATES, January 22, 2025 /EINPresswire.com/ -- The global thermal ablation device market is projected to be valued at US$ 7,549.4 million in 2024. The market is estimated to expand at a CAGR of 6.8% and is anticipated to rise at a valuation of US$ 14,594 million by 2034. The market is experiencing significant growth driven by various factors influencing the medical technology landscape. This market primarily revolves around minimally invasive procedures that deploy heat-based technologies to treat various medical conditions.

The rising prevalence of chronic diseases, particularly in oncology, has propelled the demand for thermal ablation devices. These devices offer advantages such as reduced recovery time, lower risk compared to traditional surgeries, and shorter hospital stays, making them increasingly attractive to healthcare providers and patients. Technological advancements play a pivotal role in shaping the market. Ongoing research and development efforts focus on introducing innovative features and improving the precision of these devices.

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The continuous evolution of heat-based technologies contributes to enhanced treatment outcomes and expands the applicability of thermal ablation in different medical specialties. Major players in the medical device industry, who engage in strategic initiatives such as mergers, acquisitions, and collaborations to strengthen their market position, characterize the market.

Additionally, increasing awareness among healthcare professionals and patients about the benefits of minimally invasive procedures further fuels market growth. As healthcare systems worldwide prioritize advanced medical technologies, the market is expected to witness sustained growth. The demand for these devices is projected to rise as they become more widely adopted across various medical applications beyond oncology, including cardiology and gynecology.

Key Takeaways from Market Study

Latin America is expected to expand at a CAGR of 7.1% through 2034. The industry in Brazil holds a market share of 46.2% in 2024. The market in Brazil is valued at US$ 532 million in 2024.

The industry in the United States is expected to expand at a CAGR of 6.2% through 2034. By end user, the hospital segment to hold a market share of 79.7% in 2024.

“The surge in demand for minimally invasive procedures in the medical field acts as a significant driver of the thermal ablation device market, " says a Fact MR. analyst.

Leading Players Driving Innovation in the Thermal Ablation Device Market:

Medtronic Plc.; Boston Scientific Corp.; Smith & Nephew Plc.; AngioDynamics Inc.; Abbott Laboratories; Stryker Corporation; Atricure Inc.; Halyard Health Inc.; Hologic Inc.; Johnson & Johnson

Competitive Landscape

Key players in the medical technology sector characterize the competitive landscape of the thermal ablation device market. Established companies engage in strategic activities such as mergers, acquisitions, and collaborations to strengthen their market position.

Ongoing research and development efforts focus on introducing innovative features and improving the precision of thermal ablation devices. The competition centers on providing advanced, reliable, and efficient solutions to meet the increasing demand for minimally invasive procedures across diverse medical applications.

Some Recent Developments in the Thermal Ablation Device Market

In August 2023, STARmed Co., Ltd announced the launch of its subsidiary, STARmed America, in the USA. This strategic move aimed to strengthen direct customer service and foster collaboration with the United States market for cutting-edge thermal ablation technology.

In February 2022, Ra Medical Systems secured a new patent granted by the United States Patent and Trademark Office. The patent specifically pertains to a support catheter designed with a small, flexible liquid core catheter during laser ablation procedures.

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More Valuable Insights on Offer

Fact.MR, in its new offering, presents an unbiased analysis of the thermal ablation device market for 2019 to 2023 and forecast statistics for 2024 to 2034.

The study divulges essential insights into the market based on By Component (Systems, Probes), By End User (Hospitals, ASCs, Clinics), and By Region (North America, Latin America, Western Europe, Eastern Europe, South Asia and Pacific, East Asia, Middle East and Africa).

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