As per the report, the market size of the Tumor Ablation at a global level was worth USD 0.48 million in 2018 and estimated to be growing at a CAGR of 12.97%, to reach USD 0.88 million by 2023.
Tumor ablation is a minimally invasive procedure used to destroy cancer cells in the chest, lung, and liver.
Rising Prevalence of cancer is proportional to the growth of the tumor ablation market. 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.
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. 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 growth of the market.
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 growth of the market.
The tumor ablation market is expanding at high pace and is likely to expand further during the forecast period owing to factors like favorable government regulations, emergence of technologies like laser ablation, thermal ablation, high-intensity focused ultrasound, irreversible electroporation, increasing awareness of treatment methods, emergence of advanced therapies and treatment methods such as radiation therapy and chemotherapy owing to escalation in research and developments. These factors are boosting the growth opportunities for the stakeholders in the Tumor Ablation market.
Recent developments in this industry:
REPORT COVERAGE
|
REPORT METRIC |
DETAILS |
|
Market Size Available |
2018 – 2024 |
|
Base Year |
2018 |
|
Forecast Period |
2019 - 2024 |
|
Segments Covered |
By Technology, Treatment, Application, Region |
|
Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities |
|
Regions Covered |
North America, Europe, APAC, Latin America, Middle East & Africa |
|
Market Leaders Profiled |
Medtronic Plc., Boston Scientific Corporation, Angiodynamics, Mermaid Medical, HealthTronics, Galil Medical Inc., EDAP TMS S.A., SonaCare Medical, Misonix, Inc. and Neuwave Medical, Inc. |
This research report on the Global Tumor Ablation Market has been segmented and sub-segmented into the following categories and analyzed market size & forecast for each segment until 2024.
Tumor Ablation Market - By Technology:
On the basis of 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.
Tumor Ablation Market – By Treatment:
On the basis of treatment, the surgical procedures segment accounted for a prominent share of around 37% owing to the increasing prevalence of liver and breast cancers.
Tumor Ablation Market – By Application:
Regional Analysis
North America dominated the industry with over 33% owing 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 Asia Pacific is estimated to be the fastest-growing region during the forecast period due to the huge population base and favorable economic developments in the region.
Some of the key companies dominating the Global Tumor Ablation Market include
This report consists of:
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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