According to the latest report by IMARC Group, titled “Tumor Ablation Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the global tumor ablation market size reached US$ 538.7 Million in 2018. Tumor ablation is a minimally invasive (MI) surgery, which is utilized in the treatment of bone, liver, kidney and lung tumor. It is also considered as a potential first-line treatment for numerous patients with small hepatocellular carcinomas or benign tumors. During the procedure, a specialized needle-like probe is inserted at the precise location of the tumor and then energy is employed for heating or cooling the tissue to cytotoxic levels. Generally, laser, radio-frequency (RF), and microwave (MW) systems are used for heating the tissue to at least 60 degrees Celsius for maximum efficacy.
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Global Tumor Ablation Market Trends:
According to the World Health Organization (WHO), cancer represents one of the leading causes of death across the globe. This can be attributed to sedentary lifestyles, high body mass index, low consumption of fruits and vegetables, and regular consumption of tobacco as well as alcohol. The rising prevalence of cancer, in confluence with benefits offered by MI procedures, such as speedy recovery, less trauma and reduced complications, is strengthening the global tumor ablation market growth. Apart from this, governments of various countries are investing in cancer awareness programs to minimize their healthcare expenditure, which in turn is also impelling the market growth. Furthermore, the advent of technological advancements, such as thermal and laser ablation, irreversible electroporation and High-Intensity Focused Ultrasound (HIFU), is anticipated to boost the market in the coming years. On account of these factors, the market value is projected to reach US$ 1,080 Million by 2024, expanding at a CAGR of around 12% during the forecast period (2019-2024).
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- Based on the technology, the market has been segmented into radiofrequency (RF) ablation, microwave ablation, cryoablation and others.
- On the basis of the mode of treatment, the market has been segregated into percutaneous, laparoscopic and surgical ablation.
- The market has been analyzed on the basis of the application into liver cancer, lung cancer, kidney cancer, bone metastasis and others.
- Based on the end user, the market has been classified into hospitals, cancer specialty clinics and others.
- Region-wise, the market has been divided into North America, Asia Pacific, Europe, Middle East and Africa, and Latin America.
- The competitive landscape of the market has been examined, with some of the key players being Medtronic Public Limited Company, AngioDynamics, Inc., HealthTronics, Inc., NeuWave Medical, Inc., INTIO, Inc., Galil Medical Ltd., Boston Scientific Corporation, SonaCare Medical, LLC, EDAP TMS S.A., Erbe Elektromedizin GmbH, IceCure Medical Ltd., MISONIX Inc., Endocare Inc., CooperSurgical Inc. and B V M Meditech Pvt.
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