The global tumor ablation market is projected to grow at a CAGR of 13.1% during the forecast period. Increasing prevalence of cancer worldwide along with rapid technologically advancements in ablation devices are factors driving the tumor ablation market.
Adroit Market Research report on global tumor ablation market gives a holistic view of the market from 2018 to 2028, which includes factors such as market drivers, restraints, opportunities and challenges. The market has been studied for historic years from 2018 and 2019, with the base year of estimation as 2020 and forecast from 2021 to 2028. The report covers the current status and future traits of the market at global as well as country level. In addition, the study also assesses the market based on Porter's five forces analysis and positions the key players based on their product portfolio, geographic footprint, strategic initiatives and overall revenue. Prominent players operating in the global tumor ablation market have been studied in detail.
Tumor ablation has evolved into a potent technique for treating both benign and malignant tumors of the lungs, liver, kidneys, and bones. For instance, hepatocellular carcinoma (HCC) is the most prevalent solid tumor in the world, with at least 1 million new cases diagnosed each year. Radiofrequency ablation, microwave ablation, cryoablation, and irreversible electroporation are percutaneous ablation modalities commonly employed to treat tumors. Increase in preference for minimally invasive treatments, as well as growing awareness of tumor ablation will positively boost industry over the next few years.
The global tumor ablation market has been segmented based on technology, treatment type, application, and region. Based on technology, the global tumor ablation market is categorized into radiofrequency ablation, microwave ablation, cryoablation, irreversible ablation, and other. Radiofrequency ablation segment held the largest share of global market in 2020. Increase in prevalence of renal cell carcinoma will drive the demand for radiofrequency ablation in the next few years. On the basis of treatment type, the global tumor ablation market is segmented into surgical, laparoscopic and percutaneous ablation. Percutaneous ablation segment is anticipated to grow at a healthy rate over the coming few years. Application-wise, the global tumor ablation market is categorized into lung cancer, kidney cancer, liver cancer, bone metastasis, and others. Liver cancer segment is anticipated to grow at a significant rate during the forecast period. Cryoablation has been utilized as an effective technique of tissue destruction during open hepatic surgery for years.
North America dominated the global tumor ablation market in 2020. Rapid adoption of tumor ablation and increased private-public investments in the development of breakthrough tumor ablation technologies in the U.S. and Canada are major factors driving the growth for tumor ablation in the region. However, Asia Pacific tumor ablation market is anticipated to grow at a rapid pace over the forecast period. Presence of large geriatric population, increase in awareness about tumor ablation, and high prevalence of cancer will propel the global tumor ablation in the region in the next few years.
Major players operating in the global tumor ablation market include Medtronic plc, AngioDynamics, Inc., HealthTronics, Inc., Galil Medical, Inc., SonaCare Medical LLC, Mermaid Medical, NeuWave Medical, Inc., Theraction, Ethicon Inc., and Boston Scientific Corporation among others.
Key Segments of the Global Tumor Ablation Market
Technology Overview, 2018-2028 (USD Million)
- Radiofrequency Ablation
- Microwave Ablation
- Irreversible Ablation
Treatment Type Overview, 2018-2028 (USD Million)
- Surgical Ablation
- Laparoscopic Ablation
- Percutaneous Ablation
Application Overview, 2018-2028 (USD Million)
- Liver Cancer
- Kidney Cancer
- Lung Cancer
- Bone Metastasis
Regional Overview, 2018-2028 (USD Million)
- North America
- United Kingdom
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa