What is the global market size of Oncology Ablation Market?

Oncology Ablation Market was valued at USD 1.15 billion in 2021, and it is expected to reach a value of USD 2.81 billion by 2028, at a CAGR of 13.6% over the forecast period (2022-2028).

Oncology Ablation Market Size, Share, Growth Analysis, By Technology(Radiofrequency Ablation, Microwave Ablation, Cryoablation, Irreversible Electroporation Ablation.), By Treatment(Surgical Ablation, Laparoscopic Ablation, Percutaneous Ablation.), By Application(Kidney Cancer, Liver Cancer, Breast Cancer, Lung Cancer), By Region - Industry Forecast 2024-2031

Report ID: SQSG35B2038 | Region: Global | Published Date: April, 2024
Pages: 225 | Tables: 93 | Figures: 67

Oncology Ablation Market News

In June 2022, IceCure Medical Ltd. Submitted a regulatory filing to the Brazilian Health Regulatory Agency (“ANVISA”) for the approval of ProSense, an advanced liquid-nitrogen-based cryoablation therapy for the treatment of tumors (benign and cancerous) by freezing, with the primary focus areas being breast, kidney, bone, and lung cancer.
In December 2021 by Ethicon Inc. to evaluate the effectiveness and safety of the new wave-certus microwave ablation system in Chinese patients with primary or secondary tumors in the lung.
In September 2021, Francis Medical, Inc., a privately held medical device company developing an innovative and proprietary water vapor ablation therapy for the treatment of prostate, kidney, and bladder cancer.

Oncology Ablation Market Report Snapshots

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Oncology Ablation Market size was valued at USD 1.15 billion in 2022 and is poised to grow from USD 1.31 billion in 2023 to USD 3.62 billion by 2031, growing at a CAGR of 13.6% in the forecast period (2024-2031).

Global Oncology Ablation Market is highly competitive and somewhat fragmented. To maintain a competitive edge, the major industry participants are continually implementing various growth strategies. Innovations, mergers, and acquisitions, collaborations and partnerships are adopted by these players to thrive in the competitive market. In order to provide industries with the most effective and economical solutions, the major market players are also continually concentrating on R&D. 'Angiodynamics (Covidien)', 'Boston Scientific Corporation', 'Medtronic Plc', 'Ethicon, Inc.', 'Galil Medical Inc.', 'Misonix Inc.', 'HealthTronics', 'Mermaid Medical', 'Theraclion', 'Chongqing Haifu Medical Technology Co., Ltd.', 'HS Hospital Service S.P.A'

Increasing Demand for Advanced Oncology Ablation

Cooled Radiofrequency Probes Gaining Traction

North America dominated the global market with a revenue share of over 30.1% in 2021. Government support for high-quality healthcare, high purchasing power parity, the availability of reimbursements, and the rising incidence of cancer are some of the main drivers of this region’s growth. The Patient Protection and Affordable Care Act (PPACA), for instance, lowers the cost of healthcare for both individuals and the government in the United States by promoting the quality and accessibility of healthcare through health coverage policies. Another important growing component is the precision medicine project, which develops personalised solutions for particular illness characteristics. Therefore, it is projected that such government initiatives will enhance the healthcare system as a whole, thereby spurring market growth.

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