Thermal Ablation Devices Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2031 - By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa)
The thermal ablation devices market is poised for a stellar expansion, projecting a robust growth rate during the assessment period of 2024-2031, according to Fairfield Market Research. With an anticipated valuation of approximately US$ 13 billion by the end of 2031, this market is witnessing a significant surge from its 2024 valuation of around US$ 7 billion.
Rapid Adoption of Minimally Invasive Procedures and Technological Advancements Drive Market Growth
The global thermal ablation devices market is expected to see a significant compound annual growth rate (CAGR) throughout the assessment period. This growth is driven by increasing demand for minimally invasive procedures like microwave ablation and radiofrequency ablation, alongside ongoing technological advancements in thermal ablation systems and catheters, broadening the capabilities of current products.
Probes Segment Emerges as Key Growth Driver
Within the component category, the probes segment is anticipated to demonstrate notably favorable growth in the foreseeable future. The rising adoption of disposable probes, where each procedure necessitates a new probe, is driving the demand for probes, rendering this segment highly appealing. Forecasts suggest that the probes segment will experience a robust compound annual growth rate (CAGR), with revenues anticipated to achieve a substantial increase by the end of 2031 compared to the figures recorded in 2024.
Grounded Probes Spearhead Segment's Dominance
The probes segment includes interstitial probes, grounded probes, and needle applicators. Among these, the grounded probes sub-category is predicted to take the lead in market valuation by the end of the forecast period. Grounded probes play a significant role in propelling the growth of the probes segment, solidifying its position as a primary driver of market expansion. Additionally, both the interstitial probes and needle applicators sub-segments are forecasted to undergo rapid growth, with the needle applicators sub-segment expected to have the highest CAGR during the assessment period.
Systems Segment Shows Steady Growth
On the contrary, the systems segment, comprising radiofrequency ablation, hydrothermal ablation, microwave ablation, laser ablation, and ultrasound ablation, is anticipated to exhibit slower growth, with a consistent CAGR throughout the evaluation period. However, within this segment, microwave ablation emerges as the largest sub-category, poised to yield substantial revenues by the end of 2031 compared to its performance in 2024. Additionally, notable revenue contributions to the systems segment are anticipated from the sub-segments of radiofrequency ablation, ultrasound ablation, and laser ablation.
Competitive Analysis
Key Company:
• Medtronic Plc.
• Boston Scientific Corp.
• Smith & Nephew Plc.
• AngioDynamics, Inc.
• Abbott Laboratories
• Stryker Corporation
• Atricure, Inc.
• Halyard Health, Inc.
• Hologic, Inc.
• Johnson & Johnson
• Olympus Corporation
• Others
Global Thermal Ablation Devices Market: Analysis
Components
• Probes
Interstitial Probes
Grounded Probes
Needle Applications
• Systems
Radiofrequency Ablation
Hydrothermal Ablation
Microwave Ablation
Laser Ablation
Ultrasound Ablation
End User
• Hospitals
• Ambulatory Surgical Centers (ASCs)
• Clinics
Region
• North America
• Latin America
• Europe
• Asia Pacific (APAC)
• Middle East and Africa (MEA)
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