Tumor Ablation Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Tumor Ablation Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The tumor ablation market is expected to grow at a significant CAGR of 10.1% during the study period, 2022-2027.

The COVID-19 pandemic affected healthcare systems globally and resulted in the interruption of usual care in many healthcare facilities, exposing vulnerable patients with cancer to significant risks. For instance, a study titled "Impact of the COVID-19 Pandemic on Cancer Care: A Global Collaborative Study" in 2020 reported that 356 centers from 54 countries across six continents participated between April 21 and May 8, 2020. These centers serve 716,979 new patients with cancer every year. Most of them (88.2%) reported facing challenges in delivering care during the pandemic. Although 55.34% reduced services as part of a preemptive strategy, other common reasons included an overwhelmed system (19.94%), lack of personal protective equipment (19.10%), staff shortage (17.98%), and restricted access to medications (9.83%). However, the growing number of cancer cases amid the outbreak had a positive impact on the market's growth, as hospitals and clinics continued to perform cancer surgeries and ablation procedures during the pandemic. For instance, the study titled "COVID-19 and liver cancer: lost patients and larger tumors" published in April 2022 stated that due to the increasing incidence of hepatocellular carcinoma (HCC) brought on by alcohol-related liver disease and non-alcoholic fatty liver disease in Northern England, there was less impact on resection and ablation, as elective cancer surgeries continued in various hospitals and clinics. Thus, the impact of COVID-19 on the market was adverse in its preliminary phase, however owing to the resumption of surgical cancer procedures worldwide, the market is expected to gain traction over the coming years.

Furthermore, factors that are propelling the growth of the market include the rising burden of cancer, technological advancements that are being made in ablation devices, and the growing demand for minimally invasive surgeries.

Cancer is one of the most prevalent diseases globally, affecting the lives of several individuals. As per the 2020 statistics by GLOBOCAN 2020, an estimated number of 19,292,789 people were diagnosed with cancer in 2020. As per the same source mentioned above, the number of people with lung cancer was estimated to be 2,206,771 in 2020 and this is expected to rise over the future. Moreover, as per the International Agency for Research on Cancer (IARC), in December 2020, globally, 1 in 5 people develop cancer during their lifetime, and 1 in 8 men and 1 in 11 women die from the disease. The IARC estimated that in 2020, the prevalence of cancer rose to 19.3 million cases and 10 million cancer deaths 2020, which was around 18 million cancer cases around the world in 2018. Thus, this increasing prevalence of cancer indicates a rising need for surgeries and effective ablation procedures for cancer, thereby driving the market growth.

Furthermore, key strategies adopted by major players, such as partnerships and collaborations, to strengthen the product portfolio in the market will also positively impact the market studied. For instance, in July 2021, Terumo Europe and University Medical Center Utrecht (UMC Utrecht) signed a Memorandum of Understanding (MoU) to strengthen their longstanding partnership in the field of oncology, including tumor ablation and chemoembolization through technological innovations.

Therefore, due to the above-mentioned factors, the studied market is expected to grow significantly during the study period. However, a strict regulatory process is expected to restrain the market's growth during the study period.

Key Market TrendsLung Cancer Segment to is Expected to Witness Better Growth Over the Forecast Period

Lung cancer is one of the leading causes of death worldwide. There are two main types: small cell lung cancer and non-small cell lung cancer, depending on how it appears under a microscope. Non-small cell lung cancer is more common than small cell lung cancer. The growing burden of lung cancer due to increased unhealthy habits, and a surge in research and development activities, coupled with the launch of products, is driving the market segment's growth. For instance, as per the 2020 statistics published by the American Society of Clinical Oncology, lung cancer is the second most common type of cancer and the leading cause of death worldwide (caused by any type of cancer) among men and women. Likewise, according to the GLOBOCAN statistics, in 2020, the total estimated new cases of lung cancer were 170,619 in the Southeast Asia region; 1,071,865 in the Western Pacific region; 51,316 in the WHO East Mediterranean region; and 26,918 in the WHO Africa region.

Additionally, growing clinical research for lung cancer and ablation treatments is fuelling the segment’s growth. For instance, a research study was initiated in December 2021 by Ethicon Inc. to evaluate the effectiveness and safety of the new wave-certus microwave ablation system in Chinese patients with primary or secondary tumors in the lung. The study is expected to be completed by December 2024. Moreover, as per the article "Food and Drug Administration (FDA) To Convene Workshop On Using Ablation Therapy To Treat Certain Lung Cancers" published in January 2022, the United States Food and Drug Administration held a two-day online workshop in April on how transbronchoscopic thermal ablation devices may be developed to treat intermediate-stage lung tumors. Such programs are likely to increase the awareness of the ablation system for lung cancer among the patient population, thereby driving the segment's growth.

Furthermore, in April 2021, Medtronic PLC received Breakthrough Device Designation status from the United States Food and Drug Administration (FDA) for the Emprint ablation catheter kit, which can be used in conjunction with the Emprint microwave generator and Medtronic lung navigation platform to provide a minimally invasive, localized treatment of malignant lesions in the lung.

Hence, due to the aforementioned factors, the segment is expected to grow over the forecast period.

North America is Expected to Dominate the Market Over the Forecast Period

The North American region is expected to contribute significantly to the market growth during the study period. The United States is a major contributor to regional growth owing to factors such as the growing cancer burden, increasing research and development procedures, and increasing product launches. For instance, according to the 2022 American Cancer Society Inc., about 236,740 new lung cancer cases will be diagnosed in the country in 2022. The same source also states that 79,000 new cases of kidney cancer and 13,920 deaths will be reported in 2022 from kidney cancer.

Furthermore, the launch and approval of new products in the market are expected to impact the country's market growth positively. For instance, in March 2022, Quantum Surgical, a developer of ablation devices and other medical devices, received United States Food and Drug Administration (US FDA) approval for Epione, a new category of interventional oncology robotics dedicated to minimally invasive liver cancer treatment. The company’s Epione system helps plan and perform minimally invasive ablation surgery as an outpatient procedure by deploying computer-guided needles through the skin to single out and destroy tumors. Thus, such approvals increase the availability of products in the region, thereby driving market growth in North America.

Moreover, apart from the United States, Canada is one of the major markets for tumor ablation with a growing number of cancer cases. For instance, as per the Statistics Canada data updated in January 2022, lung cancer is one of the most diagnosed cancers in Canada. Additionally, as per the source mentioned above, lung cancer incidence and mortality rates increase with age, and the incidence rates are high among Canadians aged 75 to 84 years (396 per 100,000 people). This increasing number of lung cancer cases among Canadians will ultimately drive the demand for tumor removal procedures, in turn, driving the growth of ablation surgeries.

Thus, due to the aforesaid factors, the tumor ablation market in the North American region is expected to boost over the forecast period.

Competitive Landscape

The tumor ablation market is consolidated and consists of a few major players. Most of the companies that are dominating the market are based in the United States and other countries like Australia, Germany, Japan, etc. With technological advancements, it is believed that new companies will enter the market in the near future with their novel techniques. The major market players include Medtronic Plc, Boston Scientific Corporation, AngioDynamics Inc., Abbott, and Merit Medical Systems, among others.

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