Tumor Ablation Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2019-2029 Segmented By Technology Type (Radiofrequency Ablation, Microwave Ablation, Cryoablation, Irreversible Electroporation Ablation, HIFU, Others), By Treatment Type (Surgical Ablation, Laparoscopic Ablation, Percutaneous Ablation), By Application (Kidney Cancer, Liver Cancer, Breast Cancer, Lung Cancer, P
Published Date: November - 2024 | Publisher: MIR | No of Pages: 320 | Industry: Healthcare | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationTumor Ablation Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2019-2029 Segmented By Technology Type (Radiofrequency Ablation, Microwave Ablation, Cryoablation, Irreversible Electroporation Ablation, HIFU, Others), By Treatment Type (Surgical Ablation, Laparoscopic Ablation, Percutaneous Ablation), By Application (Kidney Cancer, Liver Cancer, Breast Cancer, Lung Cancer, P
| Forecast Period | 2025-2029 |
| Market Size (2023) | USD 1.94 Billion |
| CAGR (2024-2029) | 8.64% |
| Fastest Growing Segment | Radiofrequency Ablation |
| Largest Market | North America |
Market Overview
Global Tumor Ablation
Key Market Drivers
Increasing Prevalence of Cancer
In 2018, a total of 403,262 new kidney cancer cases and 175,098 related deaths were reported. The global incidence of ASR was 4.5 per 100,000 people, with a 12-fold variability worldwide.
Development of New Ablation Technologies
Microwave ablation is a relatively new technique in which microwaves are transmitted through a specially adapted antenna inserted into the tumor. Continuous microwave motion of surrounding water molecules generates friction and heat, leading to cell death.
Shift Towards Minimally Invasive Treatments Drives the Market
The shift towards minimally invasive treatment plays a significant role in driving the growth of Global Tumor Ablation Market. There are several reasons because of patients increasingly prefer minimally invasive treatment options. Minimally invasive procedures typically involve smaller incisions, less scarring, reduced pain, shorter hospital stays, and quicker recovery times compared to traditional open surgery. These benefits contribute to improved patient experiences and satisfaction. As patient awareness and demand for minimally invasive treatments increase, the Global Tumor ablation Market experiences growth.
Expanding Healthcare Infrastructure Across Developing Nation
The expanding healthcare infrastructure across developing nations is significantly increasing the demand for tumor ablation procedures globally. Tumor ablation, a minimally invasive treatment option, involves the destruction of cancerous tumors using various techniques such as radiofrequency ablation, microwave ablation, and cryoablation. As healthcare infrastructure improves in developing nations, there is greater access to advanced medical technologies, skilled healthcare professionals, and specialized treatment facilities capable of performing tumor ablation procedures.
Moreover, as awareness of cancer and its treatment options grows, patients in these regions are increasingly seeking minimally invasive alternatives to traditional surgery or chemotherapy. Tumor ablation offers several advantages, including shorter recovery times, reduced risk of complications, and fewer hospital stays, making it an appealing option for both patients and healthcare providers. Consequently, the expanding healthcare infrastructure across developing nations is driving a surge in demand for tumor ablation procedures globally, as more individuals gain access to these life-saving treatments.
Key Market Challenges
High Cost of Treatments
The high cost of tumor ablation treatments presents a significant barrier, decreasing the demand for these procedures globally. While tumor ablation offers several advantages, including minimal invasiveness, shorter recovery times, and reduced risk of complications, the associated costs can be prohibitive for many patients. Tumor ablation procedures often require specialized equipment, advanced imaging technologies, and skilled healthcare professionals, all of which contribute to high treatment expenses.
Additionally, post-procedural care and follow-up appointments further add to the financial burden for patients. As a result, individuals facing cancer diagnoses may be deterred from pursuing tumor ablation treatments due to concerns about affordability, particularly in regions with limited healthcare coverage or where out-of-pocket expenses are high. Moreover, despite the potential long-term cost savings associated with tumor ablation compared to traditional treatments like surgery or chemotherapy, the upfront costs may still pose a significant financial barrier for many patients, leading to a decrease in demand for these procedures globally. Addressing the high cost of tumor ablation treatments is essential to ensure equitable access to this life-saving intervention for all individuals facing cancer diagnoses.
Lack of Awareness
The lack of awareness about tumor ablation procedures is a significant factor decreasing the demand for this treatment globally. Tumor ablation, a minimally invasive technique used to destroy cancerous tumors, offers several benefits such as shorter recovery times, reduced risk of complications, and improved quality of life for patients. However, despite its effectiveness, many individuals facing cancer diagnoses may be unaware of tumor ablation as a treatment option. This lack of awareness can stem from various factors, including limited access to information, insufficient education among healthcare providers and patients, and cultural or societal barriers that may influence perceptions of cancer treatment. Consequently, patients and healthcare providers may not consider tumor ablation as a viable treatment option, leading to underutilization of this potentially life-saving intervention.
Key Market Trends
Rise in Healthcare Expenditure & Disposable Income
The rise in healthcare expenditure and disposable income is significantly increasing the demand for tumor ablation procedures globally. As economies grow and disposable incomes increase, individuals are allocating more resources towards healthcare, including advanced medical treatments such as tumor ablation. Tumor ablation, a minimally invasive procedure used to treat cancerous tumors, offers several benefits such as reduced recovery times, fewer complications, and improved quality of life compared to traditional treatments like surgery or chemotherapy.
Additionally, as healthcare expenditure increases, healthcare systems are investing in advanced technologies and facilities capable of performing tumor ablation procedures, further driving the demand for these treatments. Moreover, with greater disposable income, patients are more willing and able to seek out innovative and effective treatment options, including tumor ablation, to address their healthcare needs. Consequently, the rise in healthcare expenditure and disposable income is fueling a surge in demand for tumor ablation procedures globally, as individuals prioritize their health and well-being.
Growing Number of Specialized Cancer Treatment Centers
The growing number of specialized cancer treatment centers is significantly increasing the demand for tumor ablation procedures globally. These centers, equipped with state-of-the-art technologies and staffed by skilled healthcare professionals, offer comprehensive cancer care services, including tumor ablation.
As the prevalence of cancer continues to rise globally, there is a corresponding increase in the need for specialized treatment centers capable of providing advanced therapies such as tumor ablation. These centers serve as hubs for cancer care, attracting patients from far and wide who seek access to cutting-edge treatments and personalized care. Additionally, the establishment of specialized cancer treatment centers often leads to collaborations with research institutions and industry partners, fostering innovation and advancements in tumor ablation techniques and technologies. Consequently, the growing number of specialized cancer treatment centers is driving a surge in demand for tumor ablation procedures globally, as patients seek out these centers for high-quality and specialized care to combat cancer.
Key Market Trends
Technology Type Insights
Based on the Technology Type, in the highly dynamic and competitive landscape of the Global Tumor Ablation Market, one technique that continues to stand out and maintain its leading position is Radiofrequency Ablation (RFA). The remarkable dominance of RFA can be attributed to a combination of factors that include its established efficacy, excellent safety profile, and remarkable applicability across a wide range of tumor types. Moreover, what sets RFA apart from other techniques is its affordability, making it a cost-effective choice for healthcare professionals and patients alike. This affordability has further contributed to the widespread adoption of RFA, cementing its position as the preferred technique in the tumor ablation space.
With its proven track record, comprehensive applicability, and cost-effectiveness, Radiofrequency Ablation (RFA) continues to be the go-to choice for healthcare professionals seeking reliable and efficient tumor ablation solutions.
Treatment Type Insights
Based on the Treatment Type segment, in the dynamic and rapidly evolving landscape of the Global Tumor Ablation Market, Percutaneous Ablation has emerged as the leading technique. This minimally invasive procedure, known for its exceptional precision and shorter recovery period, has gained immense popularity among both physicians and patients alike. By significantly reducing the need for prolonged hospital stays, Percutaneous Ablation has proven to be a game-changer in the field of tumor treatment. Its remarkable effectiveness has been demonstrated across a wide range of tumor locations, solidifying its dominant position in the market. With its remarkable potential to revolutionize the way tumors are managed, Percutaneous Ablation is poised to shape the future of tumor ablation techniques.
Regional Insights
North America is emerging as the dominant player in the Global Tumor Ablation Market. This can be attributed to several key factors. First and foremost, the region boasts an advanced healthcare infrastructure that enables efficient diagnosis and treatment of cancer. Additionally, North America is home to several leading medical device companies that continuously innovate and develop cutting-edge technologies for tumor ablation. The region's proactive approach towards technology adoption further contributes to its dominance in this market.
Recent Developments
- In December 2022, BostonScientific Corporation and Acotech Scientific Holdings Limited announced thatBoston Scientific will acquire a controlling stake of up to 65% in Acotech, aChinese medical technology company that specializes in a wide range ofinterventional solutions. This strategic move includes a partial proposal toacquire the procedural rights, with an offer price of HK$20 per share. Atcurrent exchange rates, the cash component of the offer amounts toapproximately US$523 million, representing a 65% interest.
- In February 2023, Johnson& Johnson, a global healthcare product manufacturer, completed itspreviously announced merger with Innovative Devices, Inc., a renownedmanufacturer of surgical instruments and tools. The merger, valued atapproximately $85 million, was finalized following the approval of the mergeragreement by Innovative shareholders.
- In July 2021, Bioventus Inc., a global leader inactive healing innovation, announced its acquisition of Misonix, Inc., aprovider of minimally invasive therapeutic ultrasound technology andregenerative medicine. The agreement involved a combination of cash and stocktransactions, marking a significant milestone for both companies.
Key Market Players
- BostonScientific Corporation
- Ethicon,Inc.
- GalilMedical Inc.
- MisonixInc.
- HealthTronics
- MermaidMedical
- Theraclion
- ChongqingHaifu Medical Technology Co., Ltd.
- HSHospital Service S.P.A
- EDAP TMSS.A
| By Technology Type | By Treatment Type | By Application | By Region | ||
|
|
|
|
|
|
FAQ'S
For a single, multi and corporate client license, the report will be available in PDF format. Sample report would be given you in excel format. For more questions please contact:
Within 24 to 48 hrs.
You can contact Sales team (sales@marketinsightsresearch.com) and they will direct you on email
You can order a report by selecting payment methods, which is bank wire or online payment through any Debit/Credit card, Razor pay or PayPal.
Discounts are available.
Hard Copy