The Tumor Ablation Market report published by Market Data Forecast provides a detailed account of the Market Trends via Customized Research presented as Strategic Analyses, Company Profiles, Competitive Landscape, etc. According to the report the Tumor Ablation Market is estimated to be $375 million USD in 2016 and predicted to rise to $ 681.79 million USD by 2021 with a CAGR of 12.7%. The market is segmented by Technology (Radiofrequency Ablation Devices, Microwave Ablation Devices, Cryoablation Devices and other Ablation Devices), Treatment (Surgical Ablation, Laparoscopic Ablation and Percutaneous Ablation), and Application (Liver Cancer, Breast Cancer, Lung Cancer, Prostrate Metastasis and other cancer). Further the market is also geographically segmented into North America, Europe, Asia-Pacific, Latin America and Middle-East & Africa
Global Tumor Ablation market is on the rise. Growing geriatric population across the globe, increasing number of people affected with cancer, technological advancements in the field of ablation are driving the global tumor ablation market. Increasing demand for minimally invasive cancer treatment procedures and growing awareness regarding the benefits offered by ablation procedures over the conventional surgical procedures are also some of the factors fuelling the growth of global tumor ablation market. However therapeutic challenges related to ablation procedures and stringent regulatory guidelines leading to increase in gestation period of product launches are the key restraining factors for the market growth.
Radiofrequency devices are the dominating technology segment accounting for a share of about 35% attributed to its crucial role in solid tumour removal in the body. Surgical Procedures is the largest treatment segment accounting for a significant share of around 37% owing to increasing prevalence of liver and breast cancers. Liver cancer accounted for the largest application segment where as lung cancer is estimated to be the fastest growing.
America dominated the industry with over 33% owing to its advanced healthcare infrastructure. Rising prevalence of cancer in this region is a major driving factor for the industry in this region. Asia Pacific is estimated to be the fastest growing region during the forecast period due to huge population base and favourable economic developments in the region.
Some of the key companies dominating the market include Medtronic Plc., Boston Scientific Corporation, Angiodynamics, Mermaid Medical, HealthTronics, Galil Medical Inc., EDAP TMS S.A., SonaCare Medical, Misonix, Inc. and Neuwave Medical, Inc.
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