Market Analysis
The global tumor ablation market
share is projected to reach at a stellar
11.8% CAGR during the forecast period (2023-2032). 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
outlook 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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