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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