The MEA tumor ablation market is predicted to be growing at a CAGR of 11.66% from 2023 to 2028. The size of the market was worth USD 0.07 Billion in 2023 and is predicted to be USD 0.12 Billion by 2028.
Tumors are the group of abnormal cells that accumulate together and form lumps. Tumor ablation is a minimally invasive procedure that destroys cancer cells in the chest, lungs, and liver.
The rising prevalence of cancer across the Middle East and Africa majorly drives the tumor ablation market in MEA. According to recent statistics published by the WHO, cancer accounts for 13% of deaths worldwide. Cancer incidence is expected to increase by 70% over the next couple of decades. Factors such as the growing aging population and the increasing number of people affected by cancer boost the growth rate of the MEA market. The number of people diagnosing with cancer in the Middle East and African countries is on the rise and is resulting in the rising need for cancer treatment and prevention methods. Factors such as hormonal changes, genetic predisposition, and unhealthy lifestyles majorly result in the diagnosis of cancer in people. Given the high incidence of cancer cases in the region, there is a growing demand for advanced treatments and preventive measures, thus driving market growth in the Arab countries.
The growing adoption of minimally invasive surgeries in the MEA region favors the MEA tumor ablation market growth. Minimal invasion surgeries such as tumor ablation treatment are gaining popularity due to their lower risk of complications, shorter recovery time, and reduced hospital stay duration. Patients who opt for minimal invasion surgeries often experience less pain and scarring, leading to better overall outcomes. The fear of significant cuts, longer hospital stays, and increased risk of infections associated with traditional surgeries have contributed to the growing demand for minimally invasive surgeries for cancer treatment.
The growing number of research and development and clinical centers across the Middle East and Africa to develop improved and advanced tumor ablation treatment procedures supports the regional market growth. The growing efforts of the leading market players to manufacture medical devices that can ease tumor ablation procedures, the growing support from the governments of MEA countries, increasing investments by the governmental and non-governmental organizations, and increasing number of product approvals and favorable reimbursement policies further boost the growth rate of the MEA tumor ablation market.
However, strict regulatory guidelines and high costs associated with tumor ablation treatment procedures hinder the growth of the MEA market. In addition, the lack of awareness about tumor ablation treatment among people, the scarcity of skilled professionals, the lack of advanced infrastructure in hospitals, and the lack of proper reimbursement policies further hamper the growth of the MEA tumor ablation market. Furthermore, side effects of tumor ablation such as organ damage and tissue damage are another significant obstacle to the growth of the MEA tumor ablation market.
This research report on the MEA tumor ablation market has been segmented and sub-segmented into the following categories:
Regionally, the Middle East accounted for the largest share of the MEA market in 2023 and is anticipated to grow steadily during the forecast period due to high disposable income and widespread awareness about various ablation procedures. In contrast, Africa is estimated to be the fastest-growing region during the forecast period due to the high prevalence of cancer. The South Africa tumor ablation market is estimated to be the rapidly growing regional market in the MEA region. This increases the disease occurrence rate and raises awareness regarding the advantages provided by ablation procedures over conventional surgical procedures. Moreover, the government has taken some initiatives to bring awareness of different cancer types, which drives tumor ablation growth in this MEA region.
The tumor ablation market in UAE is predicted to account for a substantial share of the MEA market during the forecast period owing to the growing number of radiofrequency ablation hospitals. In addition, several treatment procedures have been introduced in the country to reduce cancer cases and deaths.
KEY MARKET PLAYERS:
Some of the notable companies in the MEA tumor ablation market profiled in this report are Medtronic Plc., Boston Scientific Corporation, Angiodynamics, Mermaid Medical, HealthTronics, Galil Medical Inc., EDAP TMS S.A., SonaCare Medical, Misonix, Inc. and Neuwave Medical, Inc.
The primary factors driving the growth of the MEA tumor ablation market include the increasing incidence of cancer, rising demand for minimally invasive cancer treatments, increasing adoption of advanced ablation technologies, and growing research and development activities.
Countries in the MEA region that have the highest demand for tumor ablation include Saudi Arabia, UAE, Iran, Egypt, and South Africa.
The major players operating in the MEA tumor ablation market include Medtronic, AngioDynamics, Boston Scientific Corporation, Stryker Corporation, and EDAP TMS.
Access the study in MULTIPLE FORMATS
Purchase options starting from $ 2000
Call us on: +1 888 702 9696 (U.S Toll Free)
Write to us: email@example.com