Market Analysis
The
global tumor ablation market size is projected to reach USD 2.7 billion by 2030
anticipated to have an astronomical growth at a stellar 11.81% CAGR during the
forecast period (2022-2030). Tumor ablation is a technique that is minimally
invasive and commonly used for treating tumors in the lung, bone, kidney and
liver. During this process, thermal energy is utilized to cool or heat tissues
to cytotoxic levels. Under its classification, there are various modalities
used worldwide: irreversible electroporation, cryoablation, high-intensity focused
ultrasound, laser, microwave and radiofrequency. Every technique though similar
in purpose possess optimal and specific indications. Tumor ablation is a vital
choice for those who have failed radiotherapy or chemotherapy or is not a
candidate for surgery. It is also considered as the potential first-line
treatment especially in patients with benign tumors in the liver or small
hepatocellular carcinomas. This is a convenient and excellent treatment choice
over the other conventional surgical methods.
There are several factors that is propelling the growth of
the tumor ablation market.
These factors according to MRFR (Market Research
Future) report include rapid adoption of novel form of treatment for fighting
cancer, growing public awareness programs for detecting cancer at the initial
stage, funds offered by the government for cancer research, extensive use of
minimally invasive methods due to its myriad benefits such as minimal
complications, less trauma and speedy recovery, rising per capita income and
various technological advancements such as HIFU (High-Intensity Focused
Ultrasound), irreversible electroporation, laser ablation and thermal ablation.
On the contrary, factors such as exorbitant price of tumor ablation methods,
constraint subsidy scenarios, dearth of experts and strict regulations for
product approval may restrain the growth of the tumor ablation market.
Key Players
Tumor ablation market players include Covidien PL, Misonix Inc., Galil Medical, Inc,
Biotronik, Boston Scientific Corporation, Neuwave Medical, Inc., Healthtronics
Inc., AngioDynamics Inc., EDAP TMS, Medtronic Plc., and SonaCare Medical.
Market Segmentation
Market
Research Future report offers a comprehensive segmental analysis of the tumor ablation market on the basis of
technology, treatment, application and end-user.
Based
on technology, it is segmented into cryoablation, irreversible electroporation,
microwave, radiofrequency and others. Of these, radiofrequency will dominate
the tumor ablation market during the forecast
period. Prominent use of this technology to remove solid tumor and its
specificity has resulted to its growth. Also, this method’s efficiency is
expected to spur the segment growth. This will be followed by microwave
ablation technology that is projected to have a remunerative growth due to the
advantages provided by this technology namely optimal heating of cystic mass,
reduced procedural pain, lesser time, constancy in high temperature and bigger
tumor ablation volume.
Based
on treatment, the tumor ablation market is segmented
into laparoscopic, percutaneous and surgical. Of these, surgical will dominate
the market during the forecast period owing to rising prevalence of breast and
liver cancer that needs open surgical techniques. This will be followed by the
percutaneous ablation that is projected to grow at the fastest pace.
Based
on application, it is segmented into prostate cancer, bone cancer, breast
cancer, lung cancer, liver cancer and others. Of these, liver cancer will have
the largest share in the market owing to rising cases of both bile duct as well
as primary liver cancers. Of these, lung cancer will lead the market during the
forecast period owing to rising cases of the disease.
Based
on end-user, the tumor ablation market is segmented into research institute,
surgical and ablation centers and hospitals. Of these, hospitals will dominate
the market due to increasing practices to visit the hospital for well-being
along with the availability of various facilities in hospitals.
Regional Analysis
By
region, the tumor ablation market insights growth opportunities and latest trends
across Americas, Europe, Asia Pacific and Middle East and Africa. Of these,
Americas will remain head and shoulders over other regions in the market. The
growth can be attributed to factors such as increasing incidences of cancer
amid rising elderly population, use of advanced healthcare facilities,
favorable reimbursement policies, and increasing awareness regarding cancer
detection as well as treatment. The tumor
ablation market in Europe will grab the second position owing to rising
prevalence of cancer coupled with increasing healthcare expenditure. The tumor
ablation market in the APAC region will grow at the fastest pace due to high
demand for advanced healthcare technologies, constantly growing investment in
healthcare and rising geriatric population. On the other hand, the tumor
ablation market in the Middle East and Africa will have a minimal share owing
to poor medical facilities, dearth of technical knowledge and underdeveloped
healthcare sector.
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United States of America
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