Asia Pacific Tumor Ablation Market Report and Forecast 2024-2032

Asia Pacific Tumor Ablation Market Report and Forecast 2024-2032

Asia Pacific Tumor Ablation Market Report and Forecast 2024-2032

Asia Pacific Tumor Ablation Market Outlook

The global tumor ablation market size was valued at USD 1.9 billion in 2023, with Asia Pacific holding a significant market share. The market is driven by the increasing incidence of cancer and the rising preference for minimally invasive procedures. It is expected to grow at a CAGR of 16.30% during the forecast period of 2024-2032, with the values likely to attain USD 6.3 billion by 2032.

Key Takeaways

• In November 2023 , IceCure Medical Ltd. received approval from the Central Drugs Standard Control Organization (CDSCO) in India for its minimally invasive cryoablation technology ProSense® System based on the updated regulatory requirements. The rising introduction of such innovative treatment options in healthcare settings is likely to elevate the Asia Pacific tumor ablation market value.
• Around 50% of new cancer cases occur in the Asia Pacific every year. Cancer related mortality is projected to rise by 36% by 2030. The rising burden of cancer and associated mortality is expected to directly impact the market demand.
• One of the major market trends is the rising preference for minimally invasive techniques among patients due to benefits like shorter recovery times, reduced pain, and lower risks of complications.

Asia Pacific Tumor Ablation Market Analysis

Tumor ablation is a minimally invasive technique that is used to directly target and destroy cancerous cells by employing various energy sources. It is generally utilized for tumors in organs such as liver, kidney, lung, and prostate, and acts as a promising alternative when surgery is not a feasible option. The rising technological advancements that enhance the accuracy, effectiveness, and safety of tumor ablation procedures significantly contribute to the Asia Pacific tumor ablation market growth.

In Asia Pacific, the burden of cancer and associated mortality are increasing at a steady rate, which directly impacts the market demand. Around 50% of new cancer cases occur in the Asia Pacific every year, with the mortality caused by cancer projected to rise by 36% by 2030. This growing incidence of cancer is expected to fuel the need for effective treatment solutions such as tumor ablation, thereby boosting market share.

The presence of a favorable regulatory environment, which encourages the adoption of advanced medical technologies as well as ensures patient safety and efficacy of tumor ablation procedures is expected to augment the Asia Pacific tumor ablation market share. In November 2023, IceCure Medical Ltd. received approval from the Central Drugs Standard Control Organization (CDSCO) in India for its minimally invasive cryoablation technology ProSense® System based on the updated regulatory requirements. The cryoablation therapy treats tumors (benign and cancerous) by freezing and the first breast cancer cryoablation procedure was conducted in June 2023 in India. The rising introduction of such innovative tumor ablation technology in healthcare settings is likely to elevate the market value in the region.

One of the major Asia Pacific tumor ablation market trends is the growing preference for minimally invasive techniques among patients due to benefits like shorter recovery times, reduced pain, and lower risks of complications. This shift towards the growing adoption of tumor ablation techniques is also supported by continuous innovation in medical technology including better imaging techniques and advanced ablation tools, which results in effective treatment and reduced hospital stays. Moreover, the rising government support and increasing healthcare expenditure in the region are anticipated to propel the market growth in the forecast period.

Asia Pacific Tumor Ablation Market Segmentation  

Market Breakup by Technology

• Radiofrequency Ablation
• Microwave Ablation
• Cryoablation
• Irreversible Electroporation Ablation
• Other Ablation Technologies

Market Breakup by Application

• Kidney Cancer
• Liver Cancer
• Breast Cancer
• Lung Cancer
• Prostate Cancer
• Bone Cancer

Market Breakup by Mode of Treatment

• Surgical Ablation
• Laparoscopic Ablation
• Percutaneous Ablation

Market Breakup by End User

• Hospitals
• Cancer Specialty Clinics
• Others

Market Breakup by Country

• Japan
• India
• ASEAN
• Australia
• Others

Asia Pacific Tumor Ablation Market: Competitor Landscape

The key features of the market report include patent analysis, grants analysis, funding and investment analysis, partnerships, and collaborations analysis by the leading key players. The major companies in the market are as follows:

• EDAP TMS
• Medtronic plc
• Boston Scientific Corporation
• AngioDynamics, Inc.
• Merit Medical Systems, Inc.
• Abbott
• Hologic, Inc.
• HealthTronics, Inc.
• SonaCare Medical
• IceCure Medical Ltd.
• Monteris Medical Inc.

Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.

FAQs

• What is the Asia Pacific tumor ablation market forecast outlook for 2024-2032?

The Asia Pacific tumor ablation market is expected to be driven by the rising demand for the global market, which is anticipated to grow at a CAGR of 14.2% during the forecast period of 2024-2032 and is likely to reach a market value of USD 6.3 billion by 2032.

• What are the major factors aiding the Asia Pacific tumor ablation market demand?

The increasing incidence of cancer and the growing preference for minimally invasive procedures are fuelling the demand for the market.

• What are the major Asia Pacific tumor ablation trends?

One of the significant trends in the market is the rising introduction of innovative tumor ablation technologies in healthcare settings. In November 2023, IceCure Medical Ltd., received approval from the Central Drugs Standard Control Organization (CDSCO) in India for its minimally invasive cryoablation technology ProSense® System based on the updated regulatory requirements.

• What is the market segmentation based on the technology?

Based on the technology, the market is segmented into radiofrequency ablation, microwave ablation, cryoablation, and irreversible electroporation ablation, among other ablation technologies.

• What is the market breakup by mode of treatment?

By mode of treatment, the market is divided into surgical ablation, laparoscopic ablation, and percutaneous ablation.

• What are the major end users of the market?

End users of the market are hospitals and cancer specialty clinics, among others.

• What are the applications of the market?

Major applications of tumor ablation include kidney cancer, liver cancer, breast cancer, lung cancer, prostate cancer, and bone cancer.

• What is the market segmentation by countries?

The market segmentation by countries includes Japan, India, ASEAN, and Australia, among others.

• Who are the key players involved in the Asia Pacific tumor ablation market?

The key players in the market are EDAP TMS, Medtronic plc, Boston Scientific Corporation, AngioDynamics, Inc., Merit Medical Systems, Inc., Abbott, Hologic, Inc., HealthTronics, Inc., SonaCare Medical, IceCure Medical Ltd., and Monteris Medical Inc.

Meta description

Asia Pacific tumor ablation market is poised for growth, driven by the expansion of the global market, which was valued at USD 1.9 billion in 2023 and is projected to grow at a CAGR of 14.2% during the forecast period of 2024-2032.

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