Tumor Ablation Market 2022: Driving Factors, Business Strategies and Market Size Forecast to 2027
Market Analysis
The global tumor ablation market is anticipated to have an
astronomical growth at a stellar 12.8% CAGR during the forecast period
(2018-2023). Tumor ablation is a technique that is minimally invasive and
commonly used for treating tumors in the lung, bone, kidney and liver. During
this process, thermal energy is utilized to cool or heat tissues to cytotoxic
levels. Under its classification, there are various modalities used worldwide:
irreversible electroporation, cryoablation, high-intensity focused ultrasound,
laser, microwave and radiofrequency. Every technique though similar in purpose
possess optimal and specific indications. Tumor ablation is a vital choice for
those who have failed radiotherapy or chemotherapy or is not a candidate for
surgery. It is also considered as the potential first-line treatment especially
in patients with benign tumors in the liver or small hepatocellular carcinomas.
This is a convenient and excellent treatment choice over the other conventional
surgical methods.
There are several factors that is propelling the growth of
the Tumor
Ablation Market. These factors according to MRFR (Market Research
Future) report include rapid adoption of novel form of treatment for fighting
cancer, growing public awareness programs for detecting cancer at the initial
stage, funds offered by the government for cancer research, extensive use of
minimally invasive methods due to its myriad benefits such as minimal
complications, less trauma and speedy recovery, rising per capita income and
various technological advancements such as HIFU (High-Intensity Focused
Ultrasound), irreversible electroporation, laser ablation and thermal ablation.
On the contrary, factors such as exorbitant price of tumor ablation methods,
constraint subsidy scenarios, dearth of experts and strict regulations for
product approval may restrain the growth of the tumor ablation market.
Market Segmentation
Market Research Future report offers a comprehensive
segmental analysis of the cancer
tumor profiling on the basis of technology, treatment, application and
end-user.
Based on technology, it is segmented into
cryoablation, irreversible electroporation, microwave, radiofrequency and
others. Of these, radiofrequency will dominate the tumor ablation market during
the forecast period. Prominent use of this technology to remove solid tumor and
its specificity has resulted to its growth. Also, this method’s efficiency is
expected to spur the segment growth. This will be followed by microwave
ablation technology that is projected to have a remunerative growth due to the
advantages provided by this technology namely optimal heating of cystic mass,
reduced procedural pain, lesser time, constancy in high temperature and bigger
tumor ablation volume.
Based on treatment, the tumor ablation market is
segmented into laparoscopic, percutaneous and surgical. Of these, surgical will
dominate the market during the forecast period owing to rising prevalence of
breast and liver cancer that needs open surgical techniques. This will be
followed by the percutaneous ablation that is projected to grow at the fastest
pace.
Based on application, it is segmented into prostate
cancer, bone cancer, breast cancer, lung cancer, liver cancer and others. Of
these, liver cancer will have the largest share in the market owing to rising
cases of both bile duct as well as primary liver cancers. Of these, lung cancer
will lead the market during the forecast period owing to rising cases of the
disease.
Based on end-user, the tumor ablation market is
segmented into research institute, surgical and ablation centers and hospitals.
Of these, hospitals will dominate the market due to increasing practices to
visit the hospital for well-being along with the availability of various
facilities in hospitals.
Key Players
Leading players profiled in the tumor ablation market
include Covidien PL, Misonix Inc., Galil Medical, Inc, Biotronik, Boston
Scientific Corporation, Neuwave Medical, Inc., Healthtronics Inc.,
AngioDynamics Inc., EDAP TMS, Medtronic Plc., and SonaCare Medical.
Regional Analysis
By region, the tumor ablation market covers growth
opportunities and latest trends across Americas, Europe, Asia Pacific and
Middle East and Africa. Of these, Americas will remain head and shoulders over
other regions in the market. The growth can be attributed to factors such as
increasing incidences of cancer amid rising elderly population, use of advanced
healthcare facilities, favorable reimbursement policies, and increasing
awareness regarding cancer detection as well as treatment. The tumor ablation
market in Europe will grab the second position owing to rising prevalence of
cancer coupled with increasing healthcare expenditure. The tumor ablation
market in the APAC region will grow at the fastest pace due to high demand for
advanced healthcare technologies, constantly growing investment in healthcare
and rising geriatric population. On the other hand, the tumor ablation market
in the Middle East and Africa will have a minimal share owing to poor medical
facilities, dearth of technical knowledge and underdeveloped healthcare sector.
March 2019- CLS (Clinical Laserthermia Systems AB) stated
that both clinical studies as well as outcomes of the imILT cancer
immunotherapy that is heat induced for tumors will be highlighted at ECIO
(European Conference on Interventional Oncology) at Netherlands on April 8-11,
2019. CLS will also take part on a hands-on, educational workshop for “tumor
ablation” highlighting its TRANSBERG thermal therapy system for high-precision,
image-guided laser ablation.
Market Research
Future (MRFR) enable customers to unravel the complexity of various industries
through Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw
Research Reports (3R), Continuous-Feed Research (CFR), and Market Research
& Consulting Services.
Contact us:
Market Research
Future (part of Wantstats Research and Media Private Limited),
99 Hudson
Street,5Th Floor, New York,
New York 10013
Comments
Post a Comment