Tumor Ablation Market

Global Tumor Ablation Market Size (2023 to 2028)

The global tumor ablation market size is estimated to grow to USD 1.12 billion by 2028 from USD 0.61 billion in 2023 and is predicted to be growing at a CAGR of 12.97% during the forecast period.

Global Tumor Ablation Market Share Insights:

• Based on technology, the radiofrequency ablation devices segment accounted for 33.7% of the global market share in 2022.
• Based on application, the liver cancer held the leading share of the global market in 2022.
• Based on treatment, the surgical ablation segment captured for 37% of the global market in 2022.
• Based on region, North America had 33% of the worldwide market share in 2022.

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:

The growing patient population of cancer worldwide is one of the key factors propelling the tumor ablation market growth. Cancer is one of the deadliest diseases worldwide. As per the statistics published by the American Cancer Society, an estimated 1.9 million new cancer cases were recorded in the United States in 2022. The incidence of lung, breast, colorectal, prostate, skin and stomach cancers are high among people compared to others. The number of people diagnosed with cancer is estimated to accelerate in the coming years and the number of new cancer cases is expected to reach 28.4 million per year by 2040. The incidence of cancer is high in the developing and underdeveloped countries compared to developed countries. The interest of the cancer patient population towards minimally invasive treatment options such as tumor ablation has grown significantly in recent years compared to traditional treatment options such as surgery, chemotherapy and radiation therapy as these are highly invasive and cause side effects. Treatment options such as tumor ablation provide effective outcomes and offer fewer side effects. The rising need for effective and safe treatment options to treat cancer further drives the demand for tumor ablation therapies and contributes to market growth.

Technological advancements further fuel the growth rate of the tumor ablation market. The field of tumor ablation has experienced several technological advancements in recent years and new technologies such as radiofrequency ablation, microwave ablation and cryoablation have been developed to address the growing needs of the cancer patient population. These technologies have improved the efficacy and safety of tumor ablation procedures and this awareness among the healthcare providers has increased notably and contributed to the increased adoption of tumor ablation therapies. This trend is likely to continue in the coming years and boost the market growth.

The minimally invasive nature of tumor ablation therapies boosts the market’s growth rate. The benefits of minimally invasive surgeries such as being less painful, requiring shorter hospital stays, and having fewer complications led to the increased adoption of these procedures in cancer treatment. The growing awareness among the cancer patient population regarding the benefits of tumor ablation procedures further promotes market growth. The rising demand for outpatient procedures supports the market growth due to the reduced costs and improved convenience for patients of outpatient procedures. The growing aging population worldwide and increased willingness to invest in advanced cancer therapies such as tumor ablation further accelerate the market’s growth rate.

High success rates of tumor ablation procedures in treating certain types of cancer, such as liver, lung and kidney cancers, favorable reimbursement policies for tumor ablation therapies in some countries, increasing availability of tumor ablation devices and rising demand for innovative cancer treatments favors the market growth.

MARKET RESTRAINTS:

On the other hand, poor awareness among the cancer patient population regarding the benefits of tumor ablation procedures is one of the key impediments to market growth. High costs associated with tumor ablation procedures are making it difficult for people to afford these procedures in developing countries and hinder market growth. Technological limitations, stringent regulatory environment and the scarcity of skilled professionals in developing and underdeveloped countries inhibit the market’s growth rate. The competition from other therapies such as chemotherapy, radiation therapy and surgery and unfavorable reimbursement policies for tumor ablation procedures in some countries further impede the market 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:

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:

• Radiofrequency Ablation Devices
• Microwave Ablation Devices
• Cryoablation Devices
• Other Ablation Devices

Based on technology, the radiofrequency devices segment dominated the market, captured the leading share and the segmental growth is majorly 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:

• Surgical Ablation
• Laparoscopic Ablation
• Percutaneous Ablation

Based on treatment, the surgical procedures segment accounted for a prominent share of the world market in 2022 and is likely to register a promising CAGR during the forecast period 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:

• Liver Cancer
• Breast Cancer
• Lung Cancer
• Prostrate Metastasis
• Other Cancer

Based on the application, the liver cancer segment led the tumor ablation market in 2022 and witness a healthy CAGR during the forecast period owing to the growing prevalence of bile duct cancer and primary liver cancer. 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:

• North America
• Europe
• Asia Pacific
• Latin America
• The Middle East and Africa

Regionally, the North American tumor ablation market dominated the global market in 2021 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 healthcare 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 tumor ablation market 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:

• In October 2019, AngioDynamics Inc. completed the acquisition of Eximo Medical Ltd. As a result, the AngioDynamics Company has expanded its product portfolio regarding vascular interventions and therapies, including venous insufficiency technologies, thrombus management, and laser technology.
• In Dec 2019, ChristianaCare collaborated with Medtronic Plc to develop and deploy medical technologies in healthcare with increased efficiency and reduced costs.