Tumor Ablation Market is Anticipated To Reach Approx. $1.5 Billion By 2022: Grand View Research, Inc.

Grand View Research, Inc. – Market Research And Consulting.
According to report published by Grand View Research,The global tumor ablation market size was valued at USD 756.0 million in 2015 and High-Intensity Focused Ultrasonography (HIFU) are also clinically growing, concurrently propelling the tumor ablation industry.

According to a report published by Grand View Research, Inc.; the global tumor ablation market is anticipated to attain a valuation of around USD 1.5 billion by 2022. Increasing occurrence of different types of cancer and advancements in thermal ablation techniques are anticipated to drive the market over the forecast period (2012 to 2022). In addition, supportive policies from governments and efforts healthcare agencies to spread awareness about cancer is expected to further fuel the market expansion. Growing per capita income in developed as well as developing countries can also create positive outlook for the market in near future.

Rise in the number of elderly population and cases of lung, liver, and breast cancer have increased the demand for minimally invasive procedures. These procedures have numerous advantages like lower level of trauma, faster recovery, and lesser complications compared to invasive procedures. Hence, demand for minimally invasive procedure like radiofrequency ablation is likely to increase. This factor is anticipated to drive the market over the forecast period. Besides the practice of thermal ablation, other techniques such as laser ablation, High Intensity Focused Ultrasonography (HIFU), and irreversible electroporation are also in demand. This can further impel the market in the years to come.

The worldwide tumor ablation market can be segmented on the basis of technology, treatment, application, and regions. Based on technology, the market can be categorized into radiofrequency, microwave ablation, cryoablation, and others. Microwave ablation technology is expected to register rapid growth at a CAGR of over 15.0% during the forecast period. Reduced procedure time and cost effectiveness are the major drivers for this technology.

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North America tumor ablation market size, by technology, 2012-2022 (USD Million)

On the basis of treatment, the market can be split into laparoscopic tumor ablation, surgical tumor ablation, and percutaneous tumor ablation. Surgical ablation is expected to gain 35.0% of the overall market share in terms of volume by 2022. As per application, the market can be bifurcated into liver cancer, breast cancer, lung cancer, prostate cancer, and others. The lung cancer segment is expected to hold about 15% of the total market share in terms of revenue in near future.

Geographically, the market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. In 2015, North America was the largest regional segment on account of total market share of over 32.0%. Supportive government efforts, availability of advanced healthcare facilities, and high purchasing power parity (PPP) are some of the major regional market drivers. Increasing old age population and rising incidence of cancer in the U.S. and Canada are anticipated tp further boost the regional market.

The Patient Protection and Affordable Care Act (PPACA) also recognized as ObamaCare in the U.S is helping to promote quality and affordability of health insurance and to reduce the healthcare cost in the region. Additionally, the precision medicine initiative is building customized approache on unique appearances of diseases. Therefore, various government initiatives are anticipated to play crucial role in the improvement of overall healthcare system, thereby driving regional market growth.

In 2015, Europe held around 24.3% total volume share due to high public funding in healthcare sector. Besides, increasing elderly population and government initiatives to control cancer have also positively contributed towards the growth of the tumor ablation market in the region. For instance, foundation of bodies like the European Cancer Observatory has helped spreading cancer awareness.

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Global tumor ablation market share by region, 2015 (%)

Asia Pacific is likely to showcase healthy CAGR during the forecast period due to growing government support and refining healthcare infrastructure. In addition, economic improvement in countries like China and India is expected to propel the regional expansion. Massive population base with low per capita income has increased the demand for inexpensive treatment options in the region. Several established companies are planning to invest in emerging countries including India and China creating business opportunities for the market.

Prominent players operating in the tumor ablation market include Galil Medical Inc.; Misonix, Inc.; Medtronic Plc.; Neuwave Medical, Inc.; and EDAP TMS S.A. Most market participants are adopting various business strategies to survive the stiff competition. They are focusing more on technological advancements and launch of innovative products. Most companies are also adopting strategies like mergers and acquisitions to expand their business on global scale.

Browse Press Release of this Report: https://www.grandviewresearch.com/press-release/global-tumor-ablation-market

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

For more information: www.grandviewresearch.com

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