As per our report, the global tumor ablation market size is estimated to grow USD 1.0 billion by 2026 from USD 0.54 billion in 2021 and is predicted to be growing at a CAGR of 12.97% during the forecast period.
Tumor ablation is a minimally invasive procedure used to destroy cancer cells in the chest, lung, and liver. Tumor ablation is a technique for removing a tumor using a needle inserted into the tumor organ utilizing imaging technology. Various methods, such as microwave ablation, radiofrequency ablation, cryoablation, and others, can accomplish the therapy. This technique can treat multiple cancers, including liver tumors, lung cancer, kidney tumors, prostate cancer, and other malignancies. Cancer has effects on society in every major country in the world. The World Health Organization (WHO) estimates that 13.0 percent of the population is affected by cancer every year. These technologies provide several advantages, including less trauma and faster healing. According to the American Cancer Society, in the United States, in 2019, there were an expected 1,762,450 new cancer cases diagnosed and 606,880 cancer deaths.
MARKET DRIVERS:
Y-O-Y growth in the prevalence and incidence of various cancer is proportional to the growth of the global tumor ablation market.
The technique of the tumor ablation market is used to treat multiple cancers, including liver tumors, lung cancer, kidney tumors, prostate cancer, and other malignancies. Cancer has effects on society in every major country in the world. The World Health Organization (WHO) estimates that 13.0 percent of the population is affected by cancer every year. These technologies provide several advantages, including less trauma and faster healing. According to the American Cancer Society, in the United States, in 2019, there were an expected 1,762,450 new cancer cases diagnosed and 606,880 cancer deaths. According to the 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.
Additionally, factors such as the growing geriatric population across the globe, an increasing number of people affected by cancer, technological advancements in the field of ablation are driving the global tumor ablation market. Furthermore, increasing demand for minimally invasive cancer treatment procedures and growing awareness regarding the benefits offered by ablation procedures over conventional surgical procedures are also fuelling the market's growth.
The tumor ablation market is expanding rapidly due to favorable government regulations, the emergence of technologies like laser ablation, thermal ablation, high-intensity focused ultrasound, irreversible electroporation. Additionally, factors such as increasing awareness of treatment methods, the advent of advanced therapies, and treatment methods such as radiation therapy and chemotherapy due to an escalation in research and developments further boost the growth opportunities for the stakeholders in the Tumor Ablation market.
MARKET RESTRAINTS:
However, therapeutic challenges related to ablation procedures and stringent regulatory guidelines leading to an increase in the gestation period of product launches are hindering the market's growth.
Impact of COVID-19 on the global tumor ablation market:
COVID-19 is an unprecedented worldwide public health crisis that has impacted nearly every sector, with long-term consequences expected to stifle industrial growth throughout the projection period. As the coronavirus disease (COVID-19) crisis takes over the world, market players continuously track the changes in the markets and the consumers' purchase behaviors globally. Estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic. However, the rising prevalence of cancer and growing demand for safer therapeutic options and lucrative growth potential in currently existing therapeutic alternatives, and rising demand for minimally and non-invasive therapies across the globe are influencing the market growth.
REPORT COVERAGE:
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REPORT METRIC |
DETAILS |
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Market Size Available |
2020 to 2026 |
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Base Year |
2020 |
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Forecast Period |
2021 to 2026 |
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Segments Covered |
By Technology, Treatment, Application, and Region |
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Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, Drivers, Restraints, Opportunities, Challenges, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities |
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Regions Covered |
North America, Europe, Asia Pacific, Latin America, Middle East, and Africa |
This research report on the global tumor ablation market has been segmented based on the technology, treatment, application, and region.
Tumor Ablation Market - By Technology:
Based on technology, the radiofrequency devices segment dominated the market with a share of about 35% attributed to its crucial role in solid tumor removal in the body. With the use of numerous electrodes implanted at different sites, radiofrequency ablation can be utilized to treat numerous tumors simultaneously, enhancing procedural efficiency. This is likely to increase the rate at which sophisticated tumor ablation procedures are used.
Tumor Ablation Market – By Treatment:
Based on treatment, the surgical procedures segment accounted for a prominent share of around 37%, owing to the increasing prevalence of liver and breast cancers. The factors such as the increased frequency of liver and breast cancer and the lack of sophisticated tumor ablation methods for these organs are expected to drive segment growth. Faster healing, less scarring, and improved safety are all advantages of these procedures. Furthermore, features such as short surgical times, patient comfort, and cost-effectiveness are expected to drive sector demand. Higher difficulties connected with the technology, on the other hand, are expected to hinder its expansion, particularly in institutions with a shortage of experienced personnel. On the other hand, the percutaneous ablation sector is projected to develop at a healthy rate.
Tumor Ablation Market – By Application:
Based on the application, the liver cancer segment led the Tumor ablation market and recorded a significant revenue share of nearly 19.9% in 2020. The increasing prevalence of bile duct cancer and primary liver cancer drives the segment growth during the forecast period. In addition, the market expansion is expected to be aided by improved techniques and the rising incidence of cancer.
On the other hand, lung cancer is projected to grow significantly during the forecast period. The proliferation of diseases is influencing the market to grow. Over the forecast period, there were nearly 11.6% of total new cases recorded across the globe. Meanwhile, NSCLC accounted for 85.0 percent of all lung cancer cases. Radiofrequency ablation is widely utilized to treat NSCL, which is expected to drive the market.
Tumor Ablation Market – By Region:
Regionally, the North American tumor ablation market dominated the global market in 2020 with over 33% due to its advanced healthcare infrastructure. The rising prevalence of cancer in this region is a major driving factor for the industry in this region. The market growth in the region is further driven by a rise in the various cancer type such as lung, liver, kidney, and bone metastasis across the region. Government support for quality healthcare and favorable reimbursement programs are augmenting the market growth in North America. In the regional market, the United States led the tumor ablation market over the forecast period. The Patient Protection and Affordable Care Act (PPACA) in the United States, for example, promotes the quality and affordability of health care through health coverage plans, lowering healthcare costs for both people and the government. Furthermore, the precision medicine effort assists in developing personalized solutions based on the specific features of illnesses. Therefore, Canada is most likely to grow at a moderate growth rate during the forecast period.
The European tumor ablation market is forecasted to account for a significant share in the global market during the forecast period. The regional market growth is expected to be boosted by the rising elderly population and government assistance for cancer control. The European Cancer Observatory, for example, strives to raise awareness of cancer, early detection tools, and sophisticated, least invasive treatments. The major growth contributors in the region are Germany, UK, Italy, France, and Spain. During the forecast period, the UK is most likely to witness a significant share owing to the increasing inclination towards minimally invasive procedures for cancer treatment and advanced healthcare infrastructure.
The Asia Pacific is estimated to be the fastest-growing region during the forecast period due to the vast population base and favorable economic developments in the area. The market is growing rapidly due to the presence of major healthcare providers in emerging countries such as China and India and the developing healthcare sector in the region. The Indian India tumor ablation market is most likely to showcase the highest share in the APAC region. Favorable reimbursement programs, initiatives, and investment and funding by the government encourage market growth. The Health Minister Cancer Patient Fund (HMCPF) program of the Indian government provides financial support to impoverished cancer patients. Over the projected period, this is expected to fuel demand for tumor ablation devices in this country.
KEY MARKET PLAYERS:
Some major companies dominating the Global Tumor Ablation 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.
The key market participants operating in the global tumor ablation market are currently focused on product innovations, mergers and acquisitions, current advancements, joint ventures, collaborations, and partnerships to obtain a substantial market share in the worldwide tumor ablation market. The worldwide tumor ablation market is dominated by companies like Medtronic plc and Boston Scientific Corporation. In radiofrequency ablation (RFA), a tiny, needle-like probe is introduced into the tumor and treated with high-energy radio waves. The probe's tip is then run through a high-frequency current, which warms the tumor and kills the cancer cells; this is a typical treatment approach for tiny tumors. This is the most often utilized tumor ablation technique.
RECENT MARKET DEVELOPMENTS:
1. Introduction
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.1 Introduction
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3. Overview
3.1 Executive Summary
3.2 Key Inferences
3.3 New Developments
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1 By Technology
5.1.1 Radiofrequency Ablation Devices
5.1.2 Microwave Ablation Devices
5.1.3 Cryoablation Devices
5.1.4 Other Ablation Devices
5.2 By Treatment
5.2.1 Surgical Ablation
5.2.2 Laparoscopic Ablation
5.2.3 Percutaneous Ablation
5.3 By Application
5.3.1 Liver Cancer
5.3.2 Breast Cancer
5.3.3 Lung Cancer
5.3.4 Prostrate Metastasis
5.3.5 Other Cancers
6. Geographical Analysis
6.1 North America
6.1.1 Introduction
6.1.2 United States
6.1.3 Canada
6.2 Europe
6.2.1 Introduction
6.2.2 U.K
6.2.3 Spain
6.2.4 Germany
6.2.5 Italy
6.2.6 France
6.3 Asia-Pacific
6.3.1 Introduction
6.3.2 China
6.3.3 India
6.3.4 Japan
6.3.5 South Korea
6.4 Latin America
6.4.1 Introduction
6.4.2 Brazil
6.4.3 Mexico
6.4.4 Rest of Latin America
6.5 Middle East & Africa
6.5.1 Introduction
6.5.2 Middle-East
6.5.3 Africa
7. Strategic Analysis
7.1 PESTLE analysis
7.1.1 Political
7.1.2 Economic
7.1.3 Social
7.1.4 Technological
7.1.5 Legal
7.1.6 Environmental
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8. Market Leaders' Analysis
8.1 Medtronic Plc.
8.1.1 Overview
8.1.2 Product Analysis
8.1.3 Strategic Evaluation and Operations
8.1.4 Financial analysis
8.1.5 Legal issues
8.1.6 Recent Developments
8.1.7 SWOT analysis
8.1.8 Analyst View
8.2 Angiodynamics
8.3 Mermaid Medical
8.4 HealthTronics
8.5 Galil Medical Inc.
8.6 EDAP TMS S.A.
8.7 Boston Scientific Corporation
8.8 SonaCare Medical
8.9 Misonix, Inc.
8.10 Neuwave Medical, Inc.
9. Competitive Landscape
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10. Expert Opinions
10.1 Market Outlook
10.2 Investment Opportunities
Appendix
a) List of Tables
b) List of Figures
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