Latin America Tumor Ablation Market Report and Forecast 2024-2032

Latin America Tumor Ablation Market Report and Forecast 2024-2032

Latin America Tumor Ablation Market Report and Forecast 2024-2032

Latin America Tumor Ablation Market Outlook

The global tumor ablation market size was valued at USD 1.9 billion in 2023, with Latin America holding a significant market share. The market is driven by the rising introduction of advanced technologies in tumor ablation. It is expected to grow at a CAGR of 12.90% during the forecast period of 2024-2032, with the values likely to attain USD 6.3 billion by 2032.

Key Takeaways

• Recent data reveals that 9 in 10 of the most populous nations in Latin America will observe at least a 64% increase in cancer patients by 2040 . The high cancer incidence is expected to directly impact market demand for this minimally invasive technique.
• One of the major Latin America tumor ablation market trends is the increased initiatives by both public and private organizations to spread awareness about cancer treatment strategies. In October 2023 , the Pan American Health Organization (PAHO) and the International Agency for Research on Cancer (IARC) announced the first edition of Latin America and the Caribbean Code Against Cancer with the objective of reducing cancer cases in the region.
• The market is also influenced by the minimally invasive nature of tumor ablation therapy which fuels its adoption rate due to shorter recovery times and fewer complications compared to traditional surgeries to treat cancer.

Latin America Tumor Ablation Market Analysis

Tumor ablation is a medical procedure that is utilized to destroy cancer cells in a tumor in various parts of the body, such as the liver, kidney, and bone. Some common tumor ablation approaches include radiofrequency ablation (RFA) and cryoablation. This technique can help in localized destruction of cancerous cells without the need for invasive surgery. Due to its minimally invasive nature, this technique is associated with shorter recovery times and fewer complications than traditional surgeries. Hence, the Latin America tumor ablation market demand is expected to witness a surge in the coming years.

Latin America has a significant burden of cancer which can be attributed to the rising aging populations, lifestyle changes, and genetic factors. Recent data reveals that 9 in 10 of the most populous nations in Latin America will observe at least a 64% increase in cancer patients by 2040. Further, it is estimated that nearly 1 million new cancer cases will occur in Brazil each year, which indicates the urgent need for effective cancer treatment options including tumor ablation techniques for managing different types of cancer. Consequently, the high cancer incidence is expected to drive the Latin America tumor ablation market growth.

The market is also influenced by the increased initiatives by both public and private organizations to tackle the growing cancer burden and spread awareness about its management strategies including advanced procedures like tumor ablation. For instance, in October 2023, the Pan American Health Organization (PAHO) and the International Agency for Research on Cancer (IARC) announced the first edition of Latin America and the Caribbean Code Against Cancer with the objective of reducing cancer cases in the region. As a part of the World Code Against Cancer, the new Code will offer latest recommendations based on the most recent scientific evidence, influencing changes in health policies and behaviors to prevent cancer. Such initiatives are likely to heighten public awareness regarding the benefits of tumor ablation therapy and enhance its adoption rate, which is poised to augment the market share.

Latin America 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

• Brazil
• Argentina
• Mexico
• Others

Latin America Tumor Ablation Market: Competitor Landscape

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

• Medtronic
• Boston Scientific Corporation
• AngioDynamics
• Mermaid Medical
• HealthTronics
• Galil Medical Inc.
• EDAP TMS S.A.
• Misonix, Inc.
• NeuWave Medical, Inc.
• SonaCare Medical

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 Latin America tumor ablation market forecast outlook for 2024-2032?

The Latin America 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 Latin America tumor ablation market demand?

The rising demand for minimally invasive techniques to treat cancer is fuelling the demand for the market.

• What are the major Latin America tumor ablation market trends?

One of the significant trends in the market is the increased initiatives by both public and private organizations to spread awareness about cancer treatment strategies. In October 2023, the Pan American Health Organization (PAHO) and the International Agency for Research on Cancer (IARC) announced the first edition of Latin America and the Caribbean Code Against Cancer with the objective of reducing cancer cases in the region.

• What is the market segmentation based on the type?

Based on the type, the market is segmented into adenoviral vectors, adeno-associated viral (AAV) vectors, lentiviral vectors, and retroviral vectors, among others.

• What is the market breakup by therapeutic area?

By therapeutic area, the market is divided into oncological disorders, neurological disorders, metabolic disorders, and immunological disorders, among others.

• What are the major end users of the market?

End users of the market are research organizations, biotech, and pharmaceutical companies, among others.

• What are the applications of the market?

Major applications of tumor ablation include gene therapy, cell therapy, and vaccines.

• What is the market segmentation by countries?

The market segmentation by countries includes Brazil, Argentina, and Mexico, among others.

• Who are the key players involved in the Latin America tumor ablation market?

The key players in the market are Medtronic, Boston Scientific Corporation, Angiodynamics, Mermaid Medical, HealthTronics, Galil Medical Inc., EDAP TMS S.A., Misonix, Inc., NeuWave Medical, Inc., and SonaCare Medical.

Meta description

The Latin America 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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