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)

Description

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)

1. Executive Summary

1.1. Global Thermal Ablation Devices Market Snapshot
1.2. Future Projections
1.3. Key Market Trends
1.4. Regional Snapshot, by Value and Volume, 2023
1.5. Analyst Recommendations

2. Market Overview

2.1. Market Definitions and Segmentations
2.2. Market Dynamics
- 2.2.1. Drivers
- 2.2.2. Restraints
- 2.2.3. Market Opportunities
2.3. Value Chain Analysis
2.4. Porter's Five Forces Analysis
2.5. COVID-19 Impact Analysis
- 2.5.1. Supply
- 2.5.2. Demand
2.6. Impact of Ukraine-Russia Conflict
2.7. Economic Overview
- 2.7.1. World Economic Projections
2.8. PESTLE Analysis

3. Price Analysis, 2018 - 2023

3.1. Global Average Price Analysis, by Component/ End User, US$ Per Unit, 2018 - 2023
3.2. Prominent Factor Affecting Thermal Ablation Devices Prices
3.3. Global Average Price Analysis, by Region, US$ Per Unit

4. Global Thermal Ablation Devices Market Outlook, 2018 - 2031

4.1. Global Thermal Ablation Devices Market Outlook, by Component, Value (US$ Bn) and Volume (Million Units), 2018 - 2031
- 4.1.1. Key Highlights
  - 4.1.1.1. Probes
    - 4.1.1.1.1. Interstitial Probes
    - 4.1.1.1.2. Grounded Probes
    - 4.1.1.1.3. Needle Applications
  - 4.1.1.2. Systems
    - 4.1.1.2.1. Radiofrequency Ablation
    - 4.1.1.2.2. Hydrothermal Ablation
    - 4.1.1.2.3. Microwave Ablation
    - 4.1.1.2.4. Laser Ablation
    - 4.1.1.2.5. Ultrasound Ablation
4.2. Global Thermal Ablation Devices Market Outlook, by Sales Channel, Value (US$ Bn) and Volume (Million Units), 2018 - 2031
- 4.2.1. Key Highlights
  - 4.2.1.1. Hospitals
  - 4.2.1.2. Ambulatory Surgical Centres (ASCs)
  - 4.2.1.3. Clinics
4.3. Global Thermal Ablation Devices Market Outlook, by Region, Value (US$ Bn) and Volume (Million Units), 2018 - 2031
- 4.3.1. Key Highlights
  - 4.3.1.1. North America
  - 4.3.1.2. Europe
  - 4.3.1.3. Asia Pacific
  - 4.3.1.4. Latin America
  - 4.3.1.5. Middle East & Africa

5. North America Thermal Ablation Devices Market Outlook, 2018 - 2031

5.1. North America Thermal Ablation Devices Market Outlook, by Component, Value (US$ Bn) and Volume (Million Units), 2018 - 2031
- 5.1.1. Key Highlights
  - 5.1.1.1. Probes
    - 5.1.1.1.1. Interstitial Probes
    - 5.1.1.1.2. Grounded Probes
    - 5.1.1.1.3. Needle Applications
  - 5.1.1.2. Systems
    - 5.1.1.2.1. Radiofrequency Ablation
    - 5.1.1.2.2. Hydrothermal Ablation
    - 5.1.1.2.3. Microwave Ablation
    - 5.1.1.2.4. Laser Ablation
    - 5.1.1.2.5. Ultrasound Ablation
5.2. North America Thermal Ablation Devices Market Outlook, by Sales Channel, Value (US$ Bn) and Volume (Million Units), 2018 - 2031
- 5.2.1. Key Highlights
  - 5.2.1.1. Hospitals
  - 5.2.1.2. Ambulatory Surgical Centres (ASCs)
  - 5.2.1.3. Clinics
5.3. North America Thermal Ablation Devices Market Outlook, by Country, Value (US$ Bn) and Volume (Million Units), 2018 - 2031
- 5.3.1. Key Highlights
  - 5.3.1.1. U.S. Thermal Ablation Devices Market by Component, Value (US$ Bn) and Volume (Million Units), 2018 - 2031
  - 5.3.1.2. U.S. Thermal Ablation Devices Market by Sales Channel, Value (US$ Bn) and Volume (Million Units), 2018 - 2031
  - 5.3.1.3. Canada Thermal Ablation Devices Market by Component, Value (US$ Bn) and Volume (Million Units), 2018 - 2031
  - 5.3.1.4. Canada Thermal Ablation Devices Market by Sales Channel, Value (US$ Bn) and Volume (Million Units), 2018 - 2031
- 5.3.2. BPS Analysis/Market Attractiveness Analysis

6. Europe Thermal Ablation Devices Market Outlook, 2018 - 2031

6.1. Europe Thermal Ablation Devices Market Outlook, by Component, Value (US$ Bn) and Volume (Million Units), 2018 - 2031
- 6.1.1. Key Highlights
  - 6.1.1.1. Probes
    - 6.1.1.1.1. Interstitial Probes
    - 6.1.1.1.2. Grounded Probes
    - 6.1.1.1.3. Needle Applications
  - 6.1.1.2. Systems
    - 6.1.1.2.1. Radiofrequency Ablation
    - 6.1.1.2.2. Hydrothermal Ablation
    - 6.1.1.2.3. Microwave Ablation
    - 6.1.1.2.4. Laser Ablation
    - 6.1.1.2.5. Ultrasound Ablation
6.2. Europe Thermal Ablation Devices Market Outlook, by Sales Channel, Value (US$ Bn) and Volume (Million Units), 2018 - 2031
- 6.2.1. Key Highlights
  - 6.2.1.1. Hospitals
  - 6.2.1.2. Ambulatory Surgical Centres (ASCs)
  - 6.2.1.3. Clinics
6.3. Europe Thermal Ablation Devices Market Outlook, by Country, Value (US$ Bn) and Volume (Million Units), 2018 - 2031
- 6.3.1. Key Highlights
  - 6.3.1.1. Germany Thermal Ablation Devices Market by Component, Value (US$ Bn) and Volume (Million Units), 2018 - 2031
  - 6.3.1.2. Germany Thermal Ablation Devices Market by Sales Channel, Value (US$ Bn) and Volume (Million Units), 2018 - 2031
  - 6.3.1.3. U.K. Thermal Ablation Devices Market by Component, Value (US$ Bn) and Volume (Million Units), 2018 - 2031
  - 6.3.1.4. U.K. Thermal Ablation Devices Market by Sales Channel, Value (US$ Bn) and Volume (Million Units), 2018 - 2031
  - 6.3.1.5. France Thermal Ablation Devices Market by Component, Value (US$ Bn) and Volume (Million Units), 2018 - 2031
  - 6.3.1.6. France Thermal Ablation Devices Market by Sales Channel, Value (US$ Bn) and Volume (Million Units), 2018 - 2031
  - 6.3.1.7. Italy Thermal Ablation Devices Market by Component, Value (US$ Bn) and Volume (Million Units), 2018 - 2031
  - 6.3.1.8. Italy Thermal Ablation Devices Market by Sales Channel, Value (US$ Bn) and Volume (Million Units), 2018 - 2031
  - 6.3.1.9. Turkey Thermal Ablation Devices Market by Component, Value (US$ Bn) and Volume (Million Units), 2018 - 2031
  - 6.3.1.10. Turkey Thermal Ablation Devices Market by Sales Channel, Value (US$ Bn) and Volume (Million Units), 2018 - 2031
  - 6.3.1.11. Russia Thermal Ablation Devices Market by Component, Value (US$ Bn) and Volume (Million Units), 2018 - 2031
  - 6.3.1.12. Russia Thermal Ablation Devices Market by Sales Channel, Value (US$ Bn) and Volume (Million Units), 2018 - 2031
  - 6.3.1.13. Rest of Europe Thermal Ablation Devices Market by Component, Value (US$ Bn) and Volume (Million Units), 2018 - 2031
  - 6.3.1.14. Rest of Europe Thermal Ablation Devices Market by Sales Channel, Value (US$ Bn) and Volume (Million Units), 2018 - 2031
- 6.3.2. BPS Analysis/Market Attractiveness Analysis

7. Asia Pacific Thermal Ablation Devices Market Outlook, 2018 - 2031

7.1. Asia Pacific Thermal Ablation Devices Market Outlook, by Component, Value (US$ Bn) and Volume (Million Units), 2018 - 2031
- 7.1.1. Key Highlights
  - 7.1.1.1. Probes
    - 7.1.1.1.1. Interstitial Probes
    - 7.1.1.1.2. Grounded Probes
    - 7.1.1.1.3. Needle Applications
  - 7.1.1.2. Systems
    - 7.1.1.2.1. Radiofrequency Ablation
    - 7.1.1.2.2. Hydrothermal Ablation
    - 7.1.1.2.3. Microwave Ablation
    - 7.1.1.2.4. Laser Ablation
    - 7.1.1.2.5. Ultrasound Ablation
7.2. Asia Pacific Thermal Ablation Devices Market Outlook, by Sales Channel, Value (US$ Bn) and Volume (Million Units), 2018 - 2031
- 7.2.1. Key Highlights
  - 7.2.1.1. Hospitals
  - 7.2.1.2. Ambulatory Surgical Centres (ASCs)
  - 7.2.1.3. Clinics
7.3. Asia Pacific Thermal Ablation Devices Market Outlook, by Country, Value (US$ Bn) and Volume (Million Units), 2018 - 2031
- 7.3.1. Key Highlights
  - 7.3.1.1. China Thermal Ablation Devices Market by Component, Value (US$ Bn) and Volume (Million Units), 2018 - 2031
  - 7.3.1.2. China Thermal Ablation Devices Market by Sales Channel, Value (US$ Bn) and Volume (Million Units), 2018 - 2031
  - 7.3.1.3. Japan Thermal Ablation Devices Market by Component, Value (US$ Bn) and Volume (Million Units), 2018 - 2031
  - 7.3.1.4. Japan Thermal Ablation Devices Market by Sales Channel, Value (US$Bn) and Volume (Million Units), 2018 - 2031
  - 7.3.1.5. South Korea Thermal Ablation Devices Market by Component, Value (US$ Bn) and Volume (Million Units), 2018 - 2031
  - 7.3.1.6. South Korea Thermal Ablation Devices Market by Sales Channel, Value (US$ Bn) and Volume (Million Units), 2018 - 2031
  - 7.3.1.7. South Korea Thermal Ablation Devices Market by End User, Value (US$ Bn) and Volume (Million Units), 2018 - 2031
  - 7.3.1.8. India Thermal Ablation Devices Market by Component, Value (US$ Bn) and Volume (Million Units), 2018 - 2031
  - 7.3.1.9. India Thermal Ablation Devices Market by Sales Channel, Value (US$ Bn) and Volume (Million Units), 2018 - 2031
  - 7.3.1.10. Southeast Asia Thermal Ablation Devices Market by Component, Value (US$ Bn) and Volume (Million Units), 2018 - 2031
  - 7.3.1.11. Southeast Asia Thermal Ablation Devices Market by Sales Channel, Value (US$ Bn) and Volume (Million Units), 2018 - 2031
  - 7.3.1.12. Rest of Asia Pacific Thermal Ablation Devices Market by Component, Value (US$ Bn) and Volume (Million Units), 2018 - 2031
  - 7.3.1.13. Rest of Asia Pacific Thermal Ablation Devices Market by Sales Channel, Value (US$ Bn) and Volume (Million Units), 2018 - 2031
- 7.3.2. BPS Analysis/Market Attractiveness Analysis

8. Latin America Thermal Ablation Devices Market Outlook, 2018 - 2031

8.1. Latin America Thermal Ablation Devices Market Outlook, by Component, Value (US$ Bn) and Volume (Million Units), 2018 - 2031
- 8.1.1. Key Highlights
  - 8.1.1.1. Probes
    - 8.1.1.1.1. Interstitial Probes
    - 8.1.1.1.2. Grounded Probes
    - 8.1.1.1.3. Needle Applications
  - 8.1.1.2. Systems
    - 8.1.1.2.1. Radiofrequency Ablation
    - 8.1.1.2.2. Hydrothermal Ablation
    - 8.1.1.2.3. Microwave Ablation
    - 8.1.1.2.4. Laser Ablation
    - 8.1.1.2.5. Ultrasound Ablation
8.2. Latin America Thermal Ablation Devices Market Outlook, by Sales Channel, Value (US$ Bn) and Volume (Million Units), 2018 - 2031
- 8.2.1. Key Highlights
  - 8.2.1.1. Hospitals
  - 8.2.1.2. Ambulatory Surgical Centres (ASCs)
  - 8.2.1.3. Clinics
8.3. Latin America Thermal Ablation Devices Market Outlook, by Country, Value (US$ Bn) and Volume (Million Units), 2018 - 2031
- 8.3.1. Key Highlights
  - 8.3.1.1. Brazil Thermal Ablation Devices Market by Component, Value (US$ Bn) and Volume (Million Units), 2018 - 2031
  - 8.3.1.2. Brazil Thermal Ablation Devices Market by Sales Channel, Value (US$ Bn) and Volume (Million Units), 2018 - 2031
  - 8.3.1.3. Mexico Thermal Ablation Devices Market by Component, Value (US$ Bn) and Volume (Million Units), 2018 - 2031
  - 8.3.1.4. Mexico Thermal Ablation Devices Market by Sales Channel, Value (US$ Bn) and Volume (Million Units), 2018 - 2031
  - 8.3.1.5. Argentina Thermal Ablation Devices Market by Component, Value (US$ Bn) and Volume (Million Units), 2018 - 2031
  - 8.3.1.6. Argentina Thermal Ablation Devices Market by Sales Channel, Value (US$ Bn) and Volume (Million Units), 2018 - 2031
  - 8.3.1.7. Rest of Latin America Thermal Ablation Devices Market by Component, Value (US$ Bn) and Volume (Million Units), 2018 - 2031
  - 8.3.1.8. Rest of Latin America Thermal Ablation Devices Market by Sales Channel, Value (US$ Bn) and Volume (Million Units), 2018 - 2031
- 8.3.2. BPS Analysis/Market Attractiveness Analysis

9. Middle East & Africa Thermal Ablation Devices Market Outlook, 2018 - 2031

9.1. Middle East & Africa Thermal Ablation Devices Market Outlook, by Component, Value (US$ Bn) and Volume (Million Units), 2018 - 2031
- 9.1.1. Key Highlights
  - 9.1.1.1. Probes
    - 9.1.1.1.1. Interstitial Probes
    - 9.1.1.1.2. Grounded Probes
    - 9.1.1.1.3. Needle Applications
  - 9.1.1.2. Systems
    - 9.1.1.2.1. Radiofrequency Ablation
    - 9.1.1.2.2. Hydrothermal Ablation
    - 9.1.1.2.3. Microwave Ablation
    - 9.1.1.2.4. Laser Ablation
    - 9.1.1.2.5. Ultrasound Ablation
9.2. Middle East & Africa Thermal Ablation Devices Market Outlook, by Sales Channel, Value (US$ Bn) and Volume (Million Units), 2018 - 2031
- 9.2.1. Key Highlights
  - 9.2.1.1. Hospitals
  - 9.2.1.2. Ambulatory Surgical Centres (ASCs)
  - 9.2.1.3. Clinics
9.3. Middle East & Africa Thermal Ablation Devices Market Outlook, by Country, Value (US$ Bn) and Volume (Million Units), 2018 - 2031
- 9.3.1. Key Highlights
  - 9.3.1.1. GCC Thermal Ablation Devices Market by Component, Value (US$ Bn) and Volume (Million Units), 2018 - 2031
  - 9.3.1.2. GCC Thermal Ablation Devices Market by Sales Channel, Value (US$ Bn) and Volume (Million Units), 2018 - 2031
  - 9.3.1.3. South Africa Thermal Ablation Devices Market by Component, Value (US$ Bn) and Volume (Million Units), 2018 - 2031
  - 9.3.1.4. South Africa Thermal Ablation Devices Market by Sales Channel, Value (US$ Bn) and Volume (Million Units), 2018 - 2031
  - 9.3.1.5. Egypt Thermal Ablation Devices Market by Component, Value (US$ Bn) and Volume (Million Units), 2018 - 2031
  - 9.3.1.6. Egypt Thermal Ablation Devices Market by Sales Channel, Value (US$ Bn) and Volume (Million Units), 2018 - 2031
  - 9.3.1.7. Nigeria Thermal Ablation Devices Market by Component, Value (US$ Bn) and Volume (Million Units), 2018 - 2031
  - 9.3.1.8. Nigeria Thermal Ablation Devices Market by Sales Channel, Value (US$ Bn) and Volume (Million Units), 2018 - 2031
  - 9.3.1.9. Rest of Middle East & Africa Thermal Ablation Devices Market by Component, Value (US$ Bn) and Volume (Million Units), 2018 - 2031
  - 9.3.1.10. Rest of Middle East & Africa Thermal Ablation Devices Market by Sales Channel, Value (US$ Bn) and Volume (Million Units), 2018 - 2031
- 9.3.2. BPS Analysis/Market Attractiveness Analysis

10. Competitive Landscape

10.1. Component vs End User Heatmap
10.2. Company Market Share Analysis, 2023
10.3. Competitive Dashboard
10.4. Company Profiles
- 10.4.1. Medtronic Plc.
  - 10.4.1.1. Company Overview
  - 10.4.1.2. Product Portfolio
  - 10.4.1.3. Financial Overview
  - 10.4.1.4. Business Strategies and Development
- 10.4.2. Boston Scientific Corp.
  - 10.4.2.1. Company Overview
  - 10.4.2.2. Product Portfolio
  - 10.4.2.3. Financial Overview
  - 10.4.2.4. Business Strategies and Development
- 10.4.3. Smith & Nephew Plc.
  - 10.4.3.1. Company Overview
  - 10.4.3.2. Product Portfolio
  - 10.4.3.3. Financial Overview
  - 10.4.3.4. Business Strategies and Development
- 10.4.4. AngioDynamics, Inc.
  - 10.4.4.1. Company Overview
  - 10.4.4.2. Product Portfolio
  - 10.4.4.3. Financial Overview
  - 10.4.4.4. Business Strategies and Development
- 10.4.5. Abbott Laboratories
  - 10.4.5.1. Company Overview
  - 10.4.5.2. Product Portfolio
  - 10.4.5.3. Financial Overview
  - 10.4.5.4. Business Strategies and Development
- 10.4.6. Stryker Corporation
  - 10.4.6.1. Company Overview
  - 10.4.6.2. Product Portfolio
  - 10.4.6.3. Financial Overview
  - 10.4.6.4. Business Strategies and Development
- 10.4.7. Atricure, Inc.
  - 10.4.7.1. Company Overview
  - 10.4.7.2. Product Portfolio
  - 10.4.7.3. Financial Overview
  - 10.4.7.4. Business Strategies and Development
- 10.4.8. Halyard Health, Inc.
  - 10.4.8.1. Company Overview
  - 10.4.8.2. Product Portfolio
  - 10.4.8.3. Financial Overview
  - 10.4.8.4. Business Strategies and Development
- 10.4.9. Hologic, Inc.
  - 10.4.9.1. Company Overview
  - 10.4.9.2. Product Portfolio
  - 10.4.9.3. Financial Overview
  - 10.4.9.4. Business Strategies and Development
- 10.4.10. Johnson & Johnson
  - 10.4.10.1. Company Overview
  - 10.4.10.2. Product Portfolio
  - 10.4.10.3. Financial Overview
  - 10.4.10.4. Business Strategies and Development
- 10.4.11. Olympus Corporation
  - 10.4.11.1. Company Overview
  - 10.4.11.2. Product Portfolio
  - 10.4.11.3. Financial Overview
  - 10.4.11.4. Business Strategies and Development

11. Appendix

11.1. Research Methodology
11.2. Report Assumptions
11.3. Acronyms and Abbreviations