The tumor ablation market size was estimated at USD 756 million in 2015. It is projected to grow at a CAGR of 11.2% in the forecast period (2015–2022). It aims to attain revenue worth USD 1.5 billion by 2022. Technological developments in thermal ablation and occurrences of cancer drive the market growth.
Rising demand for minimally invasive surgeries (MIS), such as radiofrequency ablation, is likely to contribute towards market growth. The advent of technological advancements, in terms of portability, accuracy, & cost-effectiveness, is projected to improve market growth over the forecast period.
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Key technologies of the tumor ablation market include microwave, radiofrequency, cryoablation, laser ablation, and radioiodine. Radiofrequency dominated the technology segment accounting for over 35% market share in 2015, mainly because of its well-known usage in solid tumor elimination in the body. Additionally, this method is highly precise and aims at tissue-level without harming surrounding cells. On the other hand, microwave ablation technology is projected to witness tremendous growth in the near future owing to the benefits it offers. Better efficacy with least complications, minimum process time (5–10 min.), & reduced hospital stay are likely to drive the segment growth. It is predicted to exhibit a CAGR exceeding 15% over the forecast period.
Treatments under the market are percutaneous procedures, laparoscopic procedures, and surgical procedures. Surgical procedures accounted market shares close to 38% in 2015. Growing occurrence of breast & liver cancers which require open surgical procedures will spur the tumor ablation market growth. However, percutaneous procedure segment is projected to witness a tremendous growth due to demand of MIS.
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Applications of tumor ablation include lung, breast, prostate, liver cancer and other cancers. Liver cancer accounted for the biggest share in 2015. On the other hand, lung cancer application area is projected to witness profitable growth in the near future. Deskbound lifestyle, increased air pollution etc. are the factors contributing towards the increasing occurrence of lung cancer.
North America dominated the market accounting for over 32% shares in 2015. Asia-Pacific is projected to witness a rapid growth in the forecast period. A large population base & favorable economic conditions will be beneficial for the market.
Key players of the tumor ablation market are Boston Scientific Corporation, Angiodynamics, EDAP TMS S.A., Galil Medical Inc., HealthTronics, and SonaCare Medical.
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