- Automated/Robotic ablation
- Conventional ablation devices
Tumor Ablation Market size was estimated at USD 620.71 million in 2022 and is poised to grow at a CAGR of 13.2% from 2023-2029. Tumor ablation is a minimally invasive surgical method that enables treats solid tumors in which special probes are used to freeze or burn cancers without the usual surgery. The tumor ablation method is guided by the help of a CT scan, MRI Scan and ultrasound to locate and position the needle probe into the tumor which requires a tiny hole of 3mm diameter to introduce the probe. When the probe is within the cancer it is attached to a generator that burns and freezes the cancer. The most common cancers that are treated by this method are lung cancer, renal cancer, and liver cancer. Innovations in resources and technologies required in tumor ablation have provided ample opportunities for various pharma and electronics companies to work for the betterment of currently available technologies. Innovations such as high-intensity focused ultrasound (HIFU), irreversible electroporation and image-guided procedures are rising demand for adaptation of tumor ablation. Moreover, increased focus on R&D investments, product developments, and launches, acquisitions, mergers, and collaborations are few strategies adopted by the players in the Tumor Ablation Market.
Fastest Growing Market
Increasing in a number of cancer cases and rise in geriatric population are the major factors which are attributing for the growth of tumour ablation market. As per the WHO statistics, cancer accounts for 13% of deaths globally every year, moreover, 70% increase in cancer incidences is anticipated over the next couple of decades. The global geriatric population is anticipated to nearly double from 12% to 22% from 2015 to 2022. Furthermore, increase in the number of hospitals, ablation and surgical centers, less procedural costs associated with radiofrequency ablation tumour and advanced technologies in ablation devices, improved healthcare expenditure, growing awareness, and increased government support are the few more factors which expected to boost the growth of tumour ablation market globally. However, stringent regulatory framework, prolonged time of approvals for product launching and cost containment measures are expected to hamper the growth of tumour ablation market.
The Tumor Ablation Market size was valued at USD 620.71 million in 2022
The increasing prevalence of cancer globally has been a major driver for the tumor ablation market.
The tumor ablation market key players are: Angiodynamics, Inc. (U.S.) BTG International Ltd (UK) Healthtronics, Inc. (U.S.) Medtronic, Plc (U.S.) EDAP TMS S.A. (France) Mermaid Medical, Inc. (Denmark) Neuwave Medical, Inc. (U.S.) Sonacare Medical, LLC (U.S.) Mesonix, Inc. (U.S.)