Tumor Ablation Market - Forecasts from 2024 to 2029

Tumor Ablation Market - Forecasts from 2024 to 2029

The tumor ablation market was evaluated at US$1.291 billion in 2022 and is projected to grow at a CAGR of 12.10% to reach a market size of US$2.872 billion by 2029.

An image-guided technique generally employed for treating tumors and cancers in the lungs, kidneys, liver, bone, etc., is termed “tumor ablation”. The high efficiency and cost-effectiveness offered by tumor ablation techniques are driving its demand in the global market. The technique is usually done by different means like cryoablation, radiofrequency ablation, microwave ablation, and others.

The imaging technique employed in tumor ablation provides efficient results in the diagnosis and prevention of tumors in their early stages. The rising cases of cancer and tumors are increasing the demand for tumor ablation techniques in the global market. The increasing awareness about cancer and the need to diagnose and treat cancer in its early stages is pushing the market value of these techniques globally.

The rise in the number of health and tumor-treating specialty hospitals is increasing the availability of tumor ablation techniques to people. Their efficiency in diagnosing and cost-efficiency are increasing the acceptability and applications of tumor ablation in the global market. The higher investment of major companies in the research and development sector of tumor ablation is also giving potential to the global tumor ablation market growth.

The support offered by governments and governmental agencies is also increasing the acceptability and availability of tumor ablation techniques. The growing geriatric population and the increasing rate of tumors are also some of the important factors driving the global tumor ablation market growth.

Market Drivers:

Rising cases of cancer are anticipated to propel the global tumor ablation market.

The rising cases of cancer and the increasing number of cancer patients are one of the major factors driving the global tumor ablation market growth. The lifestyle and modern diet of people have increased the rate of tumors and cancers in people. The rising cases of tumors have also resulted in the growing demand for treatment and diagnosis methods like tumor ablation in the global market.

The data from the American Cancer Society states that about 1,762,450 new cases of cancer or tumors are diagnosed in the United States each year. The rising cases of cancer and mortality rates due to cancer are increasing the demand for tumor ablation in the American market. The number of deaths due to cancer was reported as 606,880 in the United States by the American Cancer Society. Less efficient diagnosis and treatment techniques are resulting in cancer and tumor deaths around the world.

The WHO (World Health Organisation) claims that countries with less economic stability are showing more tumor and cancer cases compared to countries with high economic stability. The IUCC (International Union for Cancer Control) states that one in every 6 deaths around the globe is due to cancer or tumor. An approximate 70% mortality rate due to cancer is reported in countries with less economic stability and development. The need for better diagnosis techniques and treatment methods is boosting the global tumor ablation market. The rising need and demand for tumor ablation techniques are pushing the market demand and market value of the global tumor ablation market.

Technological advancements in ablation devices would bolster the market growth.

The technological advancements and up-gradation in research and development techniques employed in ablation devices are stimulating the global tumor ablation market growth. The high research and development investments made by several companies are raising the market share of the global tumor ablation market in the global healthcare and medical sector. The continuous up-gradation and developments in the healthcare and medical fields globally are also pushing the market for tumor ablation techniques to a certain level.

The introduction of cryoablation, microwave ablation, and other techniques has been certain discovery that has boosted the global market of tumor ablation. The application of the latest technologies in treating and diagnosing cancer has upgraded the techniques of tumor ablation to a new level. According to reports by IUCC (International Union for Cancer Control), about 167 billion USD is spent on the research and development process in cancer treatment.

North America is expected to dominate the market.

The North American region is expected to dominate the global tumor ablation market in the forecasted years. The increasing investments made by government organizations and several companies in this region in cancer treatment and diagnosis techniques are one of the factors boosting tumor ablation market growth.

The increasing cases of tumors and cancers and the increasing rate of the geriatric population in North American countries are also some of the major factors fuelling the market growth of the tumor ablation market.

Key Developments:

December 2023- Popular Equipment Finance acquired Quantum Surgical's Epione® robot, a robotic platform designed for early and curative treatment of inoperable abdomen tumors. The Epione® used by a US cancer center, where it treated the first cancer patient in May 2023. Quantum Surgical, a French medical robotics company, offers a new approach to cancer treatment by standardizing access to care. The Epione® is CE-marked in Europe for abdomen and lung tumors and FDA-cleared for abdominal tumors. It is available at Gustave Roussy Cancer Center in Villejuif and Hospices Civils de Lyon. Over 300 patients have been treated worldwide with Epione®, and positive feedback from users helped accelerate its adoption in the US territory.
March 2023- AngioDynamics partnered with Minimax Medical for international distribution of its product portfolio. The partnership includes Minimax Medical's Radiofrequency Ablation System for tumors and nodules and enhances AngioDynamics' ability to support the healthcare sector in improving patients' lives globally. Minimax Medical, which offers some of the most transformative RFA devices, partnered with AngioDynamics for over 18 years in the tumor ablation market. The partnership strengthens AngioDynamics' ability to support the healthcare sector in improving patients' lives globally. Minimax Medical Holding Group is an international medical science and technology group that provides minimally invasive devices in various fields.
March 2022- Quantum Surgical received FDA 510(k) clearance for its Epione® robot, a robotic-assisted technology for minimally invasive liver cancer treatment. Epione® allows clinicians to perform safe and effective percutaneous tumor ablations, a minimally invasive treatment where a needle is inserted through the skin to destroy the tumor. The FDA 510(k) clearance permits the commercial sale and use of the Epione® interventional oncology robot in the United States to facilitate early-stage liver disease treatment. Quantum Surgical plans to extend the Epione® platform to other organs and develop artificial intelligence-based decision-support features.

Segmentation:

By Technology
Radiofrequency (Rf) Ablation
Microwave Ablation
Cryoablation
Other Technologies
By Mode of Treatment
Surgical Ablation
Laparoscopic Ablation
Percutaneous Ablation
By Application
Liver Cancer
Lung Cancer
Kidney Cancer
Bone Metastasis
Other Applications
By Geography
North America
USA
Canada
Mexico
South America
Brazil
Argentina
Others
Europe
Germany
France
UK
Others
Middle East and Africa
Saudi Arabia
UAE
Others
Asia Pacific
China
India
Japan
South Korea
Taiwan
Thailand
Indonesia
Others