Tumor Ablation Market Growth, Top Manufacturer Analysis and Forecast to 2030

Posted on 2023-04-12 by researchinsights in Healthcare // 0 Comments

San Francisco, California , USA, Apr 12, 2023 — /EPR Network/ —

Tumor Ablation Industry Overview

The global Tumor Ablation Market size is expected to reach USD 4.08 billion by 2030, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 13.5% from 2022 to 2030. The increasing incidence of cancer and the high demand for effective treatment options are the major factors driving the market. According to Cancer Research UK, the incidence rate of cancer is expected to grow by 62% from 2018 to 2040. Lung, breast, bowel, and prostate are the most common sites reported with cancer in 2018.

Increasing inclination towards minimally invasive procedures owing to the benefits such as speedy recovery, patient comfort, and shorter turnaround time are the factors expected to foster the demand for advanced tumor ablation techniques during the forecast period. The integration of tumor ablation devices with efficient interventional imaging modalities such as ultrasound, MRI, and CT is anticipated to revolutionize ablation procedures performed in outpatient settings. This is expected to significantly eliminate the cost to the patient including hospital stays.

Supportive government initiatives such as screening programs, awareness campaigns, and cancer schemes for various cancer types are expected to increase the number of diagnosed cases. For instance, in 2019, the National Health Scheme (NHS) started offering lung cancer screening programs in some areas of England. Such initiatives are anticipated to escalate the need for cancer management in early cancer stages, thereby facilitating the demand for tumor ablation therapy.

The rising demand for advanced medical technologies, coupled with improving financing capabilities of healthcare facilities, is expected to increase the demand for tumor ablation devices during the forecast period. For instance, Maimonides Medical Centre, New York announced the purchase of advanced High Intensity Focused Ultrasound (HIFU) ablation device (Focal One by EDAP TMS SA) in 2019 and it has become the second hospital in the U.S. to be equipped with HIFU technology.

Tumor Ablation Market Segmentation

Grand View Research has segmented the global tumor ablation market based on technology, treatment, application, and region:

Based on the Technology Insights, the market is segmented into Radiofrequency Ablation, Microwave Ablation, Cryoablation, Irreversible Electroporation and Other Ablation Technologies.

The radiofrequency tumor ablation technology segment held the largest revenue share of over 35.0% in 2021. The dominance can be attributed to its advantages such as specificity and efficiency in solid tumor ablation procedures in kidneys and liver.
The energy of the microwave (MW) ablation device is propagating an electromagnetic field, unlike the electric current in a radiofrequency ablation device.

Based on the Treatment Insights, the market is segmented into Surgical Ablation, Laparoscopic Ablation and Percutaneous Ablation.

The surgical ablation segment held the largest revenue share of over 35.0% in 2021. Increased prevalence of liver and breast cancer and the unavailability of advanced tumor ablation techniques for these particular organs are the factors estimated to fuel the segment growth.

Based on the Application Insights, the market is segmented into Kidney Cancer, Liver Cancer, Breast Cancer, Lung Cancer, Prostate Cancer and Other Cancer.

Liver cancer dominated the market in 2021 with a revenue share of over 20.0%. This can be attributed to the rising incidence of bile duct cancer as well as primary liver cancer.
Renal or kidney cancer is anticipated to witness lucrative growth during the forecast period. Radiofrequency and microwave ablation technology are effective in the treatment of renal tumors. Patients having solitary kidneys, tumor size less than 4cm, and a slow post-surgical recovery rate are prospects for ablation of kidney tumors.
The market for lung tumor ablation is anticipated to grow at a rapid pace during the forecast period. This can be attributed to the increasing incidence of the disease.

Tumor Ablation Regional Outlook

North America
Europe
Asia Pacific
Latin America
Middle East & Africa (MEA)

Key Companies Profile

Key companies are significantly investing in R&D to develop minimally invasive and innovative tumor ablative solutions with the intent to acquire a large market share.

Some prominent players in the global Tumor Ablation market include

Angiodynamics (Covidien)
Boston Scientific Corporation
Medtronic Plc
Ethicon, Inc.
Galil Medical Inc.
Misonix Inc.
HealthTronics
Mermaid Medical
Theraclion
Chongqing Haifu Medical Technology Co., Ltd.
HS Hospital Service S.P.A
EDAP TMS S.A.

Order a free sample PDF of the Tumor Ablation Market Intelligence Study, published by Grand View Research.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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