As per the report, the global tumor ablation market size is estimated to grow USD 0.88 billion by 2025 from USD 0.48 million in 2020 and 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.
MARKET DRIVERS
The 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.
The tumor ablation market is expanding at a high pace due to the 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 owing to an escalation in research and developments are further boosting 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 growth of the market.
REPORT COVERAGE
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REPORT METRIC |
DETAILS |
|
Market Size Available |
2019 to 2025 |
|
Base Year |
2019 |
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Forecast Period |
2020 to 2025 |
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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.
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.
Tumor Ablation Market – By Application:
Tumor Ablation Market – By Region:
Regionally, 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 vast population base and favorable economic developments in the area.
TOP COMPANIES IN THE MARKET
Some of the key 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.
RECENT MARKET DEVELOPMENTS
In October 2019, AngioDynamics Inc. completed the acquisition of Eximo Medical Ltd. The AngioDynamics Company has expanded its product portfolio regarding vascular interventions and therapies by including venous insufficiency technologies, thrombus management, and laser technology.
In Dec 2019, ChristianaCare collaborated with Medtronic Plc to develop and deploy the medical technologies in healthcare with increased efficiency and reduced costs.
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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