Tumor Ablation Market By Technology (Radiofrequency Ablation, Microwave Ablation, Cryoablation, Irreversible Electroporation Ablation, Other Ablation Technologies), By Treatment (Surgical Ablation, Laparoscopic Ablation, Percutaneous Ablation), By Application (Kidney Cancer, Liver Cancer, Breast Cancer, Lung Cancer, Prostate Cancer): Global Opportunity Analysis and Industry Forecast, 2021-2031
The global tumor ablation market was valued at $1,337.2 million in 2021, and is projected to reach $4,655.6 million by 2031, registering a CAGR of 13.6% from 2022 to 2031.
Tumor ablation techniques also referred as a minimally invasive technology, are used to treat tumors of kidneys, bones, liver, and lungs. It uses heat to target a specific tumor cell. It is a needle-like device with a heat-generating component that leads to cellular necrosis of targeted tumor cells. It is performed in-vivo, without taking tumors out of the body. The method eliminates benign tumors by inserting a probe and heating it to 100-degree celsius under precise computer tomography. There are different methods such as microwave, radiofrequency, cryo, and other methods of ablation that can be used for disease diagnosis and treatment. Repeated use of ablation methods helps reduce patient's pain and risk while increasing accuracy and treating a broader region.
The growth of global tumor ablation market is majorly driven by increase in prevalence of cancer, coupled with rise in lifestyle associated diseases. Furthermore, increase in demand for tumor ablation-based treatments is becoming increasingly popular, which propels the market growth. Moreover, adoption and emergence of technologically advanced tumor ablation techniques including the advent of thermal and laser ablation, irreversible electroporation, and high-intensity focused ultrasound (HIFU) are the factors that influence the market growth. Increase in safety regarding use of ablation techniques, increase in geriatric population, and increase in public-private initiatives & funding to support ongoing research activities related to tumor ablation drive the market growth.
According to the National Cancer Institute, U.S., around 1,806,590 new cases of cancer were diagnosed in 2020. The most prevalent cancers in the U.S. are endometrial cancer, leukemia cancer, pancreatic cancer, thyroid cancer, liver cancer, colon & rectum cancer, melanoma of the skin, bladder cancer, kidney & renal pelvis cancer, and breast cancer. In addition, according to the American Cancer Society in 2022, there were 236,740 new instances of lung cancer, making it the third most prevalent type of cancer. Out of these total number of new cases, 117,910 cases involved men and 118,830 cases involved women.
The global tumor ablation market is segmented on the basis of technology, treatment, application, and region. By technology, the market is classified into radiofrequency ablation, microwave ablation, cryo-ablation, irreversible electroporation ablation, and others. By treatment, it is classified into surgical ablation, laparoscopic ablation, and percutaneous ablation. By application, it is classified into kidney cancer, liver cancer, breast cancer, lung cancer, and prostate cancer. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Some of the major companies that operate in the global tumor ablation market are Abbott Laboratories, AngioDynamics Inc., Bioventus, Boston Scientific Corporation, ConMed Corporation, Elekta Inc., Galil Medical Inc., HealthTronics Inc., Johnson & Johnson and Medtronic Plc.
KEY BENEFITS FOR STAKEHOLDERS
The study provides an in-depth analysis of the global tumor ablation market along with the current trends and future estimations to explain the imminent investment pockets.
A comprehensive analysis of the factors that drive and restrict the market growth is provided in the report.
A comprehensive quantitative analysis of the industry from 2022 to 2031 is provided to enable the stakeholders to capitalize on the prevailing market opportunities.
Extensive analysis of the key segments of the industry helps to understand the application and products of tumor ablation used across the globe.
Key market players and their strategies have been analyzed to understand the competitive outlook of the market.
Key Market Segments
By Treatment
Surgical Ablation
Laparoscopic Ablation
Percutaneous Ablation
By Application
Kidney Cancer
Liver Cancer
Breast Cancer
Lung Cancer
Prostate Cancer
By Technology
Radiofrequency Ablation
Microwave Ablation
Cryoablation
Irreversible Electroporation Ablation
Other Ablation Technologies
By Region
North America
U.S.
Canada
Mexico
Europe
Germany
France
United Kingdom
Italy
Spain
Rest of Europe
Asia-Pacific
Japan
China
Australia
India
South Korea
Rest of Asia-Pacific
LAMEA
Brazil
Saudi Arabia
South Africa
Rest of LAMEA
Key Market Players
Medtronic, Inc.
Boston Scientific Corporation
Smith+Nephew
Integra Life sciences
Angidynamics
Johnson and johnson
ethicon, inc.
Galil Medical Inc.
Misonix Inc.
HealthTronics
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