Tumor Ablation Market Industry Share, Size, Growth, Demands, Revenue, Top Leaders and Forecast

PRESS RELEASE
Published November 8, 2023

Tumor Ablation Market report describes the strategic profiling of key players in the market, comprehensively analyzing their core competencies, and drawing a competitive landscape for the HEALTH industry. This market study analyzes the market status, market share, growth rate, future trends, market drivers, opportunities and challenges, risks and entry barriers, sales channels, and distributors. For structuring such the finest market research report, a devoted team of experienced forecasters, well-versed analysts and knowledgeable researchers work painstakingly. The Tumor Ablation Market report provides market data for several segments such as technologies, services, and applications across many geographical areas.

The global tumor ablation market is fragmented in nature, as it consists of many global players such as Boston Scientific Corporation (U.S.), Medtronic (U.S.), Olympus (Germany), Stryker (U.S.), and Biotronik (Germany) among others. The presence of these companies produces competitive prices for tumor ablation products across the region. Due to the presence of these players at regional and international levels, suppliers and manufacturers offer products with different specifications and characteristics in all budgets. The rising demand for tumor ablation globally is driving the market growth. Additionally, the rising prevalence of cancer is expected to drive the market growth.

Data Bridge Market Research analyzes that the global tumor ablation market is expected to reach the value of USD 4,225.84 million by 2030, at a CAGR of 13.8% during the forecast period. This market report also covers pricing analysis and technological advancements in depth.

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The market includes a wide range of ablation techniques, such as radiofrequency ablation (RFA), microwave ablation (MWA), cryoablation, high-intensity focused ultrasound (HIFU), and laser ablation, among others. These techniques utilize different energy sources to deliver controlled heat, cold, or sound waves to destroy tumor cells, leading to their death and subsequent elimination by the body’s immune system. The global tumor ablation market encompasses various medical equipment for tumor ablation procedures, including ablation probes, electrodes, needles, catheters, ultrasound systems, MRI systems, and monitoring systems. These devices are designed to precisely deliver the ablation energy to the target tissue while minimizing damage to the surrounding healthy tissues.

Drivers

Rising Prevalence of Cancer Globally

The growing prevalence of cancer creates a higher demand for effective treatment options. Tumor ablation techniques offer a minimally invasive alternative to traditional surgery to treat solid tumors. As cancer rates continue to rise, there is an increasing need for treatments that can effectively target and destroy tumors, leading to the growth of the tumor ablation market.

Tumor ablation procedures are particularly valuable for patients with inoperable tumors. These may include tumors in critical or hard-to-reach areas or cases where surgery carries a higher risk due to the patient’s overall health condition. Tumor ablation provides a viable treatment option for such patients, allowing tumor destruction without major surgery.

Increasing Inclination of Surgeons and Patients toward Minimally Invasive Procedures

Minimally invasive procedures involve smaller incisions or needle insertions than traditional open surgeries. This results in less tissue damage, reduced blood loss, and lower risk of complications. These procedures typically have shorter hospital stays and faster recovery times. Patients can often resume their normal activities sooner, improving their quality of life.

Recent Developments

  • In April 2023, Angio Dynamics. announced an expanded partnership with Cardiva, a Spanish-based medical device company. The partnership builds on an existing collaboration between AngioDynamics and Cardiva, which has successfully distributed AngioDynamics’ vascular access portfolio in Spain and Portugal since 2012. The expanded partnership will now include AngioDynamics’ oncology portfolio, with the addition of the Italian market in the distribution agreement.
  • In September 2020, Boston Scientific Corporation announced that it had signed an investment agreement with an exclusive option to acquire Farapulse, Inc., a privately-held company developing a pulsed field ablation (PFA) system for the treatment of atrial fibrillation (AF) and other cardiac arrhythmias. This PFA system – comprising a sheath, generator, and catheters – is intended to ablate heart tissue via the creation of a therapeutic electric field instead of using thermal energy sources such as radiofrequency ablation or cryoablation.

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Some of the major market players operating in the global tumor ablation market are Boston Scientific Corporation (U.S.), Medtronic (U.S.), Olympus (Germany), Stryker (U.S.), Biotronik (Germany), Merit Medical Systems. (Utah), HealthTronics, Inc. (U.S.), Insightec. (Israel), AngioDynamics. (New York), Integra LifeSciences (U.S.), Bioventus LLC. (U.S.), Ethicon Inc. (A Subsidiary of Johnson & Johnson) (U.S.), EDAP TMS (Auvergne-Rhône-Alpes), Sonablate Corp. (U.S.), BVM Medical Limited (England), Terumo Europe NV (Belgium), and IceCure Medical (Israel) among others.

Tumor Ablation Market Scope

Type

  • Thermal Ablation
  • Chemical Ablation

Based on type, the market is segmented into thermal ablation and chemical ablation.

Types Of  Treatment

  • Percutaneous
  • Laparoscopic
  • Surgical

Based on the types of treatment, the market is segmented into percutaneous, laparoscopic, and surgical.

Cancer Type

  • Breast Cancer
  • Lung Cancer
  • Prostate Cancer
  • Liver Cancer
  • Kidney Cancer
  • Bone Cancer
  • Others

Based on cancer type, the market is segmented into breast cancer, lung cancer, prostate cancer, liver cancer, kidney cancer, bone cancer, and others.

End Users

  • Hospitals
  • Oncology Centers
  • Others

Based on end users the market is segmented into hospitals, oncology centers, and others.

Distribution Channel

  • Direct Tender
  • Retail Sales

Key Advantages of the Report: 

  • This study provides an analytical overview of the industry, including current trends and future predictions to identify potential investment opportunities.
  • The report offers insights into key drivers, limitations, and prospects, along with a comprehensive market share analysis.
  • The report quantitatively assesses the current market, shedding light on its growth prospects.
  • A Porter’s five forces analysis gauges the bargaining power of buyers and suppliers in the market.
  • The report delivers an in-depth market analysis that considers competitive dynamics and forecasts the future competitive landscape.

What to Anticipate from the Report – A 7-Point Guide:

  • The report delves into the holistic strategy and innovation within the market ecosystem.
  • It highlights prominent market drivers and obstacles, providing clarity on technological standardization and regulatory frameworks.
  • The report evaluates various implementation models and examines numerous use cases.
  • Serving as a valuable resource, the report offers essential industry insights, showcasing information on new investments, stakeholders, relevant contributors, and market participants.
  • Through the forecast period, the report conducts a thorough market analysis, referencing historical developments, ongoing events, and future growth prospects.

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