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Ablation devices market share from the radiofrequency devices segment is primed to grow at over 8.5% CAGR between 2023 and 2032. Radiofrequency devices find widespread usage in the field of oncology, cardiology, cosmetology, gynecology, and pain management. The growing prominence of cardiovascular diseases, primarily atrial fibrillation, has boosted the demand for radiofrequency devices. The high success rate of procedures with the use of radiofrequency devices in the treatment of atrial fibrillation has increased the product adoption rate, which will favor segment outlook.
Ablation devices market size from the cardiology segment was valued at over USD 3.5 billion in 2022 and is foreseen to grow at more than 9% CAGR during 2023-2032. The growing patient population suffering from severe heart-related disorders such as atrial fibrillation and tachycardia, among others, will enhance the segment growth potential with procedural demand. For instance, according to the Centers for Disease Prevention and Control, around 6.5 million people die due to cardiac conditions every year in the U.S.
Hospitals are likely to emerge as one of the promising end-users of ablation devices, with the segment poised to attain a valuation of USD 11.3 billion by 2032. The incidence rate of ablation procedures is considerably high in hospital settings as these establishments ensure the availability of skilled healthcare professionals and advanced equipment, reducing the complexity of the procedure. Additionally, innovative product launches in the ablation industry and extending government support toward improving the hospital infrastructure will aid segment share.
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North America ablation devices market is set to witness over 9% CAGR through 2032. Increasing adoption of cutting-edge technologies, coupled with the presence of the most highly developed countries providing state-of-the-art facilities for conducting minimally invasive cardiac procedures, will influence regional landscape. Moreover, the high disposable incomes and increasing healthcare expenditure are also some of the factors supporting the market expansion in the region.