Varanasi News Magazine

Tumor Ablation Market Size to Grow at a CAGR of 12.0% During the Forecast Period 2021–2026

 Breaking News
  • No posts were found

Tumor Ablation Market Size to Grow at a CAGR of 12.0% During the Forecast Period 2021–2026

April 07
19:50 2021
Tumor Ablation Market Size to Grow at a CAGR of 12.0% During the Forecast Period 2021–2026

Tumor Ablation Market.
Increasing Adoption of Minimally Invasive Technology for Ablation is Driving the Growth of Tumor Ablation Market.

Tumor Ablation Market size in 2020 was valued at $513.3 billion and is projected to grow with a CAGR of 12.0% during the forecast period 2021-2026. Tumor Ablation is a minimally invasive surgical method commonly used in the treatment of solid cancers. Tumor ablation is undoubtedly the most exciting and high profile procedure currently in Interventional radiology. It is considered a first-line treatment for patients with small hepatocellular carcinomas or benign tumors in the liver. The technique uses elevated temperature to eradicate alleviate blockages or tumors. This therapy can be performed using various techniques such as microwave ablation, radiofrequency ablation, Image Guided Therapy, cryoablation, and other techniques. Among these microwaves, radiofrequency, high-intensity focused ultrasound (HIFU) systems, or laser is used to heat tissue to at least 60°C for maximum efficacy. Increasing prevalence of cancer in worldwide coupled with rising aging population are the major factors driving the growth of the market. Moreover, growing technological advancement in ablation devices coupled with growing demand of minimally invasive surgeries further enhance the overall market demand for Tumor Ablation during the aforesaid period.

Tumor Ablation Market Segment Analysis – By Technology

Based on the Technology, Tumor Ablation Market is segmented into Radiofrequency (Rf) Ablation, Microwave Ablation, Cryoablation, High Intensity Focused Ultrasound (HIFU), Image Guided Therapy, others. The Radiofrequency (Rf) Ablation segment is estimated to dominate the market during the period 2021-2026 and is a widely used method of tumour ablation and is also a minimally invasive, repeatable procedure with a low complication rate. The High Intensity Focused Ultrasound (HIFU), the segment is forecast to be the fastest-growing segment and is projected to grow at a CAGR of 6.5% during the period 2021-2026. This is mainly owing to it is most effective non-invasive therapy that uses focused ultrasound waves to thermally ablate a portion of tissue.

Request for Sample Report @ https://www.industryarc.com/pdfdownload.php?id=16794

Report Price: $ 4500 (Single User License)

Tumor Ablation Market Segment Analysis – By Mode of Treatment

Based on the Vertebral Position, Tumor Ablation Market is segmented into Surgical Ablation, Laparoscopic Ablation, Percutaneous Ablation. In 2020, Surgical Ablation is estimated to hold major share in the market. This is mainly owing to the most effective and well-established treatment option for patients. Moreover, it is a minimally invasive surgical procedure, and it does not involve surgical removal of affected tissues or tumors are also contributing to the dominance of this segment. Also, Laparoscopic Ablation is projected to grow with a CAGR of 7.1% over the period 2021-2026. This is owing to it is more accurate and accessible procedure.

Tumor Ablation Market Segment Analysis – By Geography

North America dominated the Tumor Ablation market share accounting for 41% of the market in 2020. This is mainly due to the presence of key players in U.S. which focus on the development of products with innovative features and greater effectiveness has increased in recent times coupled with rising number of cancer patient in this region. According to, National Cancer Institute, in 2019, there were an estimated 16.9 million cancer survivors in the United States. The number of cancer survivors is projected to increase to 22.2 million by 2030.

However, the Asia-Pacific region is projected to be the fastest-growing over the period 2021-2026. This is owing to improving healthcare infrastructure coupled with rising advancement in ablation surgery.

Tumor Ablation Market Drivers

Increasing Prevalence of Cancer

Increasing prevalence of cancer across the globe is driving the growth of Tumor Ablation market. According to, World Health Organization (WHO), cancer is the leading cause of death globally and in 2018, around 9.6 million people died owing to cancer in worldwide. Globally, about 1 in 6 deaths is owing to cancer. Moreover, rising number of aging populations is also set to increase the market growth.

Rising Technological Advancement

Increase in research and development of advanced technology for ablation is also driving the market. The advanced technologies such as various imaging-guidance tools that incorporate imaging-fusion between real-time US and CT/MRI, and high-intensity focused ultrasound ablation. Also, the increasing adoption of minimally invasive technology for ablation is also set to the growth of Tumor Ablation Market.

Tumor Ablation Market Challenges

High capital expenditure required for ablation techniques and strict regulatory by government for launch of ablation devices is challenging the market. Along with this, the uncertainties of reimbursement are also further challenging the growth of the market.

Covid-19 Impact

Moreover, the outbreak of COVID-19 around the world has impacted all industries including healthcare industry. Covid- 19 affects the Tumor Ablation market including drastic reduction in emergency surgical procedures and also overall admission to the Emergency department (ED). Also owing to widespread of coronavirus it affects workforce and staffing issues, procedural prioritisation. These affects Tumor Ablation market by cancellation of scheduled surgery and shift of surgeons to the other area.

Tumor Ablation Industry Outlook

Product launches, Merger & Acquisitions, Joint Ventures and R&D activities are key strategies adopted by players in the Tumor Ablation Market. Tumor Ablation top 10 companies are AngioDynamics Inc., Misonix Inc., NeuWave Medical, Inc., Medtronic PLC, INTIO Inc., SonaCare Medical, LLC, BVM Medical Limited, Theraclion, Boston Scientific Corporation and CONMED Corporation

Acquisitions/Product Launches:

In August 2019, Boston Scientific Corporation received a medical device licence from Health Canada for ICEfx cryoablation system. ICEfx cryoablation system provides a minimally invasive alternative procedure for patients with certain cancer.

Key Takeaway

In 2020, North America dominated the Tumor Ablation Market owing to rising incidence of cancer.

Increasing various initiatives taken by the government organizations across the globe is also driving the market growth of Tumor Ablation.

Detailed analysis of the Strength, Weakness, and opportunities of the prominent players operating in the market will be provided in the Tumor Ablation Market report.

High cost of ablation techniques and uncertainties surrounding reimbursement are challenging the growth of the market.

Related Reports :

A. Brain Tumor Treatment Market

https://www.industryarc.com/Report/15949/brain-tumor-treatment-market.html

B. Biliary Tumor Market

https://www.industryarc.com/Research/Biliary-Tumor-Market-Research-509945

For more Lifesciences and Healthcare Market reports, please click here

About IndustryARC: IndustryARC primarily focuses on Cutting Edge Technologies and Newer Applications market research. Our Custom Research Services are designed to provide insights on the constant flux in the global supply-demand gap of markets. Our strong team of analysts enables us to meet the client research needs at a rapid speed, with a variety of options for your business. Any other custom requirements can be discussed with our team, drop an e-mail to [email protected] to discuss more about our consulting services.

Media Contact
Company Name: IndustryARC
Contact Person: Mr. Venkat Reddy
Email: Send Email
Phone: 1-614-588-8538 (Ext: 101)
Address:Madhapur
City: Hyderabad
Country: India
Website: http://industryarc.com/