3 Key Developments Driving Ablation Devices Market Outlook Through 2028
The global ablation devices market size is projected to expand profusely in the ensuing years, propelled by key strategies by different industry leaders.
In June 2021, Boston Scientific Corporation, one of the leading ablation devices market players, announced its plans for the acquisition of Farapulse’s shares for a valuation of USD 295 million. The deal comprised an additional sum of USD 92 million in payments subject to the achievement of certain regulatory and clinical milestones.
The agreement helped in enriching Boston Scientific’s electrophysiology portfolio with the addition of the Farapulse Pulsed Field Ablation (PFA) system.
An increase in similar strategic moves along with mergers and partnership agreements is expected to bolster the global ablation devices market size.
According to Global Market Insights Inc., the industry is anticipated to reach a valuation of USD 16 billion by 2028.
Given below are some of the major developments that are expected to bolster the industry landscape over the upcoming years:
1# Rising number of research studies
Over the recent years, the industry has recorded an upsurge in research activities for the development of superior ablation care services. Citing an instance, in April 2021, researchers at the Cleveland Clinic conducted a study for assessing the feasibility of using smartphone ECGs in post a-fib ablation care. The study depicted that patients deploying the AliveCor Kardia Mobile needed fewer follow up ECGs as compared to their peers in the control group.
Other findings revealed that cloud-based smartphone ECG could be incorporated into post-AF ablation care. This could be done with less requirement for additional traditional monitors and without enhancing anxiety.
2# Increasing regulatory approvals in North America
North America ablation devices market share is expected to record substantial growth through 2028. This upsurge can be credited to an increase in regulatory approvals for various devices. For instance, in April 2021, the U.S. Food and Drug Administration awarded the breakthrough device designation status to Medtronic’s Emprint ablation catheter kit.
The device provides localized and less invasive treatment of malignant lesions in the lung. The catheter can be used along with Medtronic lung navigation platform and the Emprint microwave generator. A rise in such approvals is likely to enhance product penetration across different states and provinces in the region.
3# Growing product development initiatives in Europe
The ablation devices industry value in Europe is expected to expand at a lucrative CAGR over the forecast period. The region has registered a considerable rise in product development and launch initiatives by several industry contenders.
For instance, in September 2021, Biosense Webster, Inc., announced the completion of post-approval procedures for the company’s HELIOSTAR Balloon Ablation Catheter at sites across Europe. The device has been indicated for usage in cardiac ablation as well as for catheter-based cardiac electrophysiological mapping of the atria.
Considering other regions, the Asia Pacific ablation devices market share is expected to expand at a CAGR of 12.6% through 2028.
Biotronik SE & Co. KG, AtriCure, Inc., Ethicon, Inc., AngioDynamics, Bausch & Lomb Incorporated, Alcon Laboratories, Varian, Olympus Corporation, Elekta AB, and others are some of the key companies operating in ablation devices marketplace.
To sum up, the industry is expected to record an increased awareness regarding the availability of advanced treatment procedures over the forthcoming years. This aspect is slated to enhance the demand for different types of radiofrequency ablation devices across various regions.