Tumor Ablation Market Global Industry Growth Prospects and Opportunity Assessment by 2032

Increasing prevalence of cancer and technological advancements in tumor ablation are key factors driving market revenue growth.

VANCOUVER, BRITISH COLUMBIA, CANADA, June 28, 2024 /EINPresswire.com/ -- The global tumor ablation market size was USD 1.68 Billion in 2022 and is expected to register a rapid revenue CAGR of 13.6% during the forecast period. The global tumor ablation market is experiencing significant growth, driven by increasing cancer prevalence and advancements in treatment technologies, according to a recent market research report.

Tumor ablation devices are crucial in treating tumors where surgery may not be suitable or when patients opt for minimally invasive alternatives. Cancer remains a leading cause of death worldwide, with the World Health Organization estimating 10 million deaths attributed to the disease in 2020 alone.

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Key Factors Driving Market Growth:

Technological Advancements: Innovations such as AI-powered ablation systems are enhancing treatment accuracy and efficacy. These systems utilize AI to identify and target tumors, offering personalized treatment plans based on individual patient characteristics.

Rising Demand for Minimally Invasive Procedures: Procedures like radiofrequency (RF) ablation and microwave ablation (MWA) are preferred for their smaller incisions, reduced pain, and faster recovery times compared to traditional surgical methods.

Government Approvals and Product Launches: Increasing approvals by regulatory bodies for advanced ablation technologies are further propelling market growth. Recent examples include Stryker's optablate bone tumor ablation system and HistoSonics' Edison system for liver tumors.

Market Challenges: Despite growth opportunities, the market faces challenges such as competition from alternative treatments like surgery and radiation therapy, which offer comparable effectiveness in certain cases.

Market Segment Insights:

Technology Segmentation: RF ablation currently dominates the market due to its effectiveness and widespread adoption. However, microwave ablation is projected to grow rapidly, particularly in treating liver, kidney, and lung cancers.

Application Segmentation: Liver cancer treatment holds a significant market share, driven by its high prevalence globally. The lung cancer segment is also growing steadily due to rising incidence rates and technological advancements in minimally invasive procedures.

Treatment Methods: Percutaneous ablation, which involves thin needles inserted through the skin guided by imaging technologies, is the leading treatment method. It offers advantages such as minimal scarring, faster recovery, and lower costs compared to surgical alternatives.

End-Use Insights: Hospitals are the primary end-users, benefiting from access to advanced treatment options and comprehensive patient care facilities.

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Some major players included in the global tumor ablation market report are:

Medtronic

Stryker Corporation

Boston scientific Corporation

OLYMPUS Corporation

BIOTRONIK

Angio Dynamics

Johnson and Johnson Private limited

Theraclion

EDAP TMS

Merit Medical Systems

Tumor Ablation Latest Industry News

On 30 March 2023, AngioDynamics announced that it has formed a new partnership with Minimax Medical for international distribution of their product portfolio. This also includes distribution of Radiofrequency Ablation System for tumors on an international level. The partnership increases AngioDynamics' reach into new markets by giving access to a wider pool of potential customers and an enhanced product portfolio.

On 19 December 2022, Techsomed Ltd. announced the opening of a new German Subsidiary, as a strategic collaboration with Research Institute Fraunhofer MEVIS, to advance the development of its flagship software technology BioTraceIO 360. This is an End-to-End Solution for Image-Guided Tumor Ablation Therapy. This announcement adds Techsomed’s lineup by eliminating the need for invasive biopsies and providing real-time guidance during ablation procedures.

Tumor Ablation Market Segment Analysis

For the purpose of this report, Emergen Research has segmented the global tumor ablation market on the basis of technology, application, treatment, end-use, and region:

Technology outlook (Revenue, USD Billion; 2019-2032)

Radiofrequency Ablation

Microwave Ablation

Ultrasound Ablation

Cryoablation

Others

Application Outlook (Revenue, USD Billion; 2019-2032)

Lung Cancer

Lung Cancer

Prostate Cancer

Breast Cancer

Kidney Cancer

Others

Treatment Outlook (Revenue, USD Billion; 2019-2032)

Percutaneous Ablation

Laparoscopic Ablation

Surgical Ablation

End-use Outlook (Revenue, USD Billion; 2019-2032)

Hospitals

Oncology Centers

Ambulatory Surgical Center (ASC)

Regional Outlook (Revenue, USD Billion; 2019–2032)

North America

U.S.

Canada

Europe

Germany

France

UK

Italy

Spain

Benelux

Russia

Rest of Europe

Asia Pacific

China

Japan

South Korea

India

ASEAN Countries

Oceania

Rest of APAC

Latin America

Brazil

Mexico

Rest of LATAM

Middle East & Africa

GCC Countries

Israel

Turkey

South Africa

Rest of Middle East & Africa

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