Global tumor ablation market is expected to reach from USD 964.08 Million in 2017 to USD 2,474.31 Million by 2025 at a CAGR of 12.40% from 2018 to 2025. Increasing awareness about ablation procedure over other surgical procedures and high demand for minimally invasive cancer treatment procedure are contributing to the growth of the market.
Image-guided techniques like tumor ablation have become a powerful tool for the treatment of certain benign and malignant tumors of the lungs, liver, kidneys, bone, and soft tissues and pain palliation. Tumor ablation is a minimally invasive procedure used to destroy cancer cells in the chest, lung and liver and other areas of patients’ body. The change in lifestyle and unhealthy eating habits, including increasing consumption of tobacco and alcohol, is the leading cause of the rise in some cancer cases. According to the National Cancer Institute (NCI), in 2016 around 1,685,210 new cases of cancer were diagnosed in the U.S. Increasing prevalence of cancer cases worldwide is driving the growth of the market. As per the statistics by the World Health Organization (WHO), about 13.0% of the population suffers from cancer every year. These tools offer various benefits such as less trauma and speedy recovery.
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- The base year for the study has been considered 2017, the historic year 2015 and 2016 and, the forecast period considered is from 2018 to 2025. The global tumor ablation market is analyzed by value (USD Million).
- The study delivers a comprehensive analysis of the global tumor ablation market by technology, treatment, application, end user and regions.
- The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The report emphasizes on all the key trends that play a vital role in the enlargement of the market from 2018 to 2025.
- Porter’s Five Forces model is used to recognize the competitive scenario in the global tumor ablation market. This report incorporates the industry analysis which is focused on providing an extensive view of the global tumor ablation market.
- The study also includes attractiveness analysis technology, treatment, application, end user and regions which are benchmarked based on their market size, growth rate and attractiveness in terms of present and future opportunity for understanding the future growth of the market.
- The report provides company profile of the key players operating in the global tumor ablation market and a comparative analysis based on their business overviews, product offering, segment market share, regional presence, business strategies, innovations, mergers & acquisitions, recent developments, joint venture, collaborations, partnerships, SWOT analysis, and key financial information.
- The market estimates have been evaluated by considering the effect of different political, economic, social, technological and legal factors which are based on our extensive secondary research, primary research, and in-house databases.
- Increasing cases of cancer worldwide
- Growing demand for minimally invasive procedures
- Technological advancements in the field of thermal ablation
- Rise in awareness about various cancer types and increasing R&D activities
- The high cost of ablation techniques
- Limited reimbursement policy
- Innovation in the technology required in the tumor ablation
- Usage only in minor surgeries
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Regional Segmentation Analysis:
The market is analysed on the basis of five regions namely North America, Europe, Asia Pacific, South America, and Middle East and Africa. NorthAmerica region dominated the marketand accounted for the largest market share of 48.94% in 2017. Major factors contributing to the growth are government support for quality healthcare, high purchasing power, availability of reimbursement, and increasing prevalence of cancers in the region.
Prominent industry players in the market include Galil Medical, Inc., Misonix, Inc., HealthTronics, Angiodynamics, Covidien, Boston Scientific Corporation, Medtronic Plc,SonaCare Medical, EDAP TMS S.A., Neuwave Medical, Inc., Atricure, Inc., Biosense Webster, Inc., Conmed Corporation, Olympus Corporation, Smith & Nephew, and St. Jude Medical, Inc.among others.
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