Tumor Ablation Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027
Report ID: GMI1870
Tumor Ablation Market size is projected to experience significant growth from 2017 to 2024.
Tumor ablation market size should witness substantial growth due to mounting technological advancements in the thermal ablation techniques and rising cancer prevalence over the last two decades. Cancer is one of the foremost cause of death globally. In 2012, there were 8.2 million cancer-related deaths and 14 million new cases were registered worldwide.
Ablation is minimally invasive procedure in which a needle-like thin probe is introduced through skin into a small lump. The technique uses elevated temperature to eradicate alleviate blockages or tumors. CT, ultrasound or MRI is used to lead the probe into the lump. The probe produces high-energy radio waves or microwaves through its tip to heat and eliminate tumor. High demand for minimally invasive treatment procedures and increasing awareness towards benefits of ablation procedures over conventional surgical procedures will drive the business growth.
Better clinical significance pertaining to technical success making the procedure an accepted oncologic treatment modality will generate massive development opportunities. Increasing technical safety framework, rising funding to support ongoing research activities and public-private initiatives further offer tremendous growth opportunities. Irreversible architectural deconstruction at a tissue level and fatal injury at cellular level by thermal effects may hamper the tumor ablation market growth.
Radiofrequency ablation is the most commonly used therapy for liver cancer. It will grow at a significant rate owing to approximately 85 percent and more success rate for eliminating small liver tumors. Microwave ablation will increase due to its ability to treat tumors that are large and close to chief arteries and veins. Breast cancer market should witness a considerable growth over the forecast period pertaining to significant rise in the prevalence of breast cancer over the years. According to American Cancer Society, it is recognized as the second most widespread disease among women and will be responsible for over 2.5 million new cases by end of 2017. Furthermore, 63,410 new cases may be diagnosed in women with in situ lesions.
Percutaneous ablation segment will show upsurge growth due to its ability of destroying inoperable primary tumors or metastases in the liver and a repeatable procedure with few complications. Laparoscopic ablation market will grow at a robust rate owing to advancement in innovative approach for hepatic lesions treatment which are located in tough to reach sites.
U.S. tumor ablation market will witness robust growth over the forecast period due to growing cancer prevalence coupled with increased R&D expenditure by government in healthcare sector. According National Cancer Institute, in 2016, approximately 1,685,210 new cases of cancer were diagnosed in U.S. and 595,690 individuals died from the disease. Increasing number of hospitals and surgical centers as well as short timeframe and low cost of treatment will propel tumor ablation market size.
China will show lucrative growth during the forecast years. Growing prevalence of cancer coupled with increasing acceptance of minimally invasive therapies will fuel the industry share. India tumor ablation market will grow at healthy rate due to growing elderly population and increasing health care expenditure coupled with rising awareness among people.
Some of the industry players are Boston Scientific, Medtronic, Galil Medical, EDAP TMS, Angiodynamics, Mermaid Medical, Sonacare Medical, Neuwave Medical and Mesonix. The industry players focus on innovative technology and strategic mergers and acquisition to expand their business portfolio as main strategies. For instance, in July 2016, Boston Scientific acquired Cosman Medical, a RFA manufacturer. This acquisition has expanded Boston’s product portfolio coupled with benefit for physicians and patients by offering additional choices to address chronic pain with non-opioid therapeutic treatments.
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