USD 1.68 Billion
Report ID:
SQMIG35A2494 |
Region:
Global |
Published Date: September, 2024
Pages:
219
|Tables:
95
|Figures:
76
Global Tumor Ablation Market size was valued at USD 1.48 Billion in 2022 and is poised to grow from USD 1.68 Billion in 2023 to USD 4.63 Billion by 2031, by rising at a CAGR 13.5% during the forecast period (2024-2031).
The increasing prevalence of cancer & the strong desire for safer therapeutic choices are important factors driving market expansion. According to the WHO, by 2030, 10-11 million instances of cancer are expected to be diagnosed globally each year. The number of new cases of cancer in low-income nations is anticipated to rise by more than 80%, compared to half the pace in high-income countries (40%). Lucrative potential for expansion in currently existing therapeutic choices, as well as a strong desire for minimally & non-invasive therapies, are projected to drive the market in the future years.
The growing preference of surgeons and patients for minimally invasive procedures due to benefits such as faster recovery, patient comfort, the shorter turnaround time is likely to boost demand for advanced tumor ablation methods over the forecast period. When opposed to conventional therapy, advanced tumor ablation procedures are often conducted on an outpatient basis & lack any hospital admission, considerably lowering total healthcare costs. Ablative operations are the primary treatment for tiny tumors. As a result, its procedural number is indirectly affected by yearly cancer detection rates. The market was considerably impacted in 2020 as the number of cases of cancer that were newly diagnosed decreased significantly during COVID due to less screening measures done by relevant authorities.
According to a survey by Our World in Data (OWD), an initiative of Global Change Data Lab, more than 70% of cancer diagnoses occurred in persons over the age of 50. The number is likely to rise in lockstep with the growing senior population. As the body's basic systems deteriorate with age, the aging population is the primary target group for noninvasive ablation procedures. As a result, the rising aging population is predicted to drive up demand for tumor ablation procedures over the projection period.
The drivers motivating market participants to consistently upgrade and launch advanced products are technological advancements to improve accuracy, mobility, and cost-effectiveness. These technological developments include image-guided devices, HIFU, and cryoablation. One of the upcoming techniques that is expected to play a big role in market expansion is the use of the cooled radiofrequency degeneration technique with externally chilled radiofrequency probes to increase the size of the lesion. This procedure allows for total degeneration of the sacroiliac joint, resulting in pain relief.
US Tumor Ablation Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 1.68 Billion
Largest Segment
Radiofrequency Tumor
Fastest Growth
Microwave
Growth Rate
13.5% CAGR
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The global tumor ablation market is segmented by technology, application, treatment, and region. Based on technology, the market is segmented into Radiofrequency Ablation, Microwave Ablation, Cryoablation, Irreversible Electroporation Ablation, High-intensity-focused Ultrasound (HIFU), and other ablation technologies. Based on treatment, the market is segmented into surgical ablation, laparoscopic ablation, and percutaneous ablation. Based on application, the market is segmented into kidney cancer, liver cancer, breast cancer, lung cancer, prostate cancer, and other cancers. Based on end users, the market is segmented into Hospitals & Clinics, Cancer Care Centers, and other End Users. Based on region, the market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.
Tumor Ablation Market Analysis by Technology
In 2023, the radiofrequency tumor ablation category accounted for the greatest share, with 32.7%. Its advantages, like specificity and efficiency in solid tumor our alation treatments in the kidney and liver, can be linked to its supremacy. Furthermore, radiofrequency ablation can be used to treat numerous tumors concurrently, utilizing multiple electrodes positioned at different sites to improve procedural efficiency. This is expected to accelerate the uptake of sophisticated tumor ablation methods. It is predicted that radiofrequency/microwave ablation technology has an above 85% success rate in the removal of tiny liver tumors. The NCBI report states that individuals who choose surgical excision have a 30% to 70% chance of their tumors returning.
The ability of radiofrequency approaches to effectively treat tumors in their early stages is expected to propel this category's expansion. From 2024 to 2030, microwave ablation technology is expected to grow at the quickest rate. Unlike radiofrequency ablation devices, which use electric current to spread electromagnetic fields, microwave (MW) ablation devices use energy. This enhances the use of microwave ablation technologies in tissues like bones and lungs that have poor electrical conductivity. Larger tumor ablation volumes, consistent high temperatures, little ablation discomfort, and ideal cystic mass heating are some of this technology's main advantages. It is projected that these advantages will encourage segment expansion. Additionally, shorter hospital stays (5–10 minutes), enhanced efficacy with fewer problems, and shorter operation times are anticipated to fuel expansion.
Tumor Ablation Market Analysis by Application
In 2023, other market categories took the lead with a revenue share of roughly 28.8%. This section covers various cancers, including ENT and cancer with bone metastases. It is projected that the prevalence of cancer is rising, and that the availability of sophisticated techniques will support sector expansion. Through 2030, the lung cancer segment is expected to rise at the quickest compound annual growth rate (CAGR) due to the rising global incidence of lung cancer brought on by the rising smoking prevalence.
Between 2024 and 2030, the kidney cancer market is expected to expand at a very quick speed. The ablation techniques of microwave and radiofrequency work well for treating kidney tumors. Kidney tumors can be ablation in patients with single kidneys, tumors smaller than 4 cm (about 1.57 in), and a delayed rate of recovery after surgery. An estimated 79,000 additional instances of kidney cancer will be detected in 2022, according to estimates from the American Cancer Society. Furthermore, as medical imaging becomes more widely used, more cases are anticipated to be diagnosed, which will raise demand for treatment methods.
Tumor Ablation Market Analysis by Treatment
In 2023, the percutaneous ablation category held a dominant market share of around 56.7%. These operations provide greater safety, less scary, and a quicker recovery. Further variables expected to increase segment demand are speedy operation times, patient comfort, and cost effectiveness. Higher systemic challenges, particularly in hospitals with a shortage of qualified personnel, are expected to restrain the system's expansion.
Percutaneous ablations are not possible in approximately 25–55% of patients because of unfavorable tumor placements, according to the NCBI analysis. Because deep-seated tumors cannot be sufficiently ablation by percutaneous ablation, the rate of tumor recurrence is greater. Furthermore, because of the high risk of tumor recurrence, percutaneous ablation should not be used to treat lesions that are particularly close to the heart, bile duct, gall bladder, or gastrointestinal tract. Thus, laparoscopic ablation is effective in these situations in achieving long-term results while also maintaining minimal invasiveness. During the projected period, this is anticipated to accelerate the expansion of the laparoscopic ablation segment.
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In 2023, North America held a dominant revenue share of 34.42% in the market. The government's support of high-quality healthcare, the region's high purchasing power parity, the accessibility of reimbursements, and the rising incidence of cancer are major drivers of growth. For example, the Patient Protection and Affordable Care Act (PPACA) in the United States encourages access to high-quality, reasonably priced healthcare by lowering the cost of healthcare for both individuals and the government through health coverage programmed. Furthermore, the precision medicine movement involves developing customized approaches based on distinct features of illnesses. Therefore, it is projected that these government actions will enhance the healthcare system, driving market expansion. In 2023, Europe had a sizable portion.
Furthermore, it is projected that the government's support for cancer control initiatives along with the ageing population will accelerate this growth. The European Cancer Observatory, for example, seeks to raise public awareness of cancer, early diagnosis methods, and cutting edge, minimally invasive treatment choices. From 2024 to 2030, Asia Pacific is anticipated to have the fastest CAGR. Opportunities for market expansion are created by an increase in the number of patients and the strong presence of well-known healthcare providers in developing nations like China and India. Furthermore, with government assistance, healthcare utilization in this area is improving. For instance, the Health Minister Cancer Patient Fund (HMCPF) programmed in India provides financial assistance to cancer patients who are impoverished. This is expected to increase demand for tumor ablation equipment and support the area's expansion.
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Tumor Ablation Market Drivers
Increasing Incidence of Cancer
Tumor Ablation Market Restraints
High Cost of Ablation Procedures
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Key companies are increasing their expenditure on R&D to produce minimally invasive and new tumor ablative therapies in order to gain a huge market share. For example, Boston Scientific Corporation got Health Canada certification in 2021 for its advanced freezing system, ICEfxTM. The device has a lower footprint, is portable, and offers a potent alternative to current cryoablation systems.
In order to maintain their market position, industry participants have implemented a variety of strategic activities such as new product launches, alliances, mergers, and acquisitions.
Top Player’s Company Profiles in Tumor Ablation Market
Tumor Ablation Market Recent Developments
In May 2024, Advance Market Analytics published a new research publication on "Circulating Tumor Cells (CTC) Market Insights, to 2030" with 232 pages and enriched with self-explained Tables and charts in presentable format. In the Study you will find new evolving Trends, Drivers, Restraints, Opportunities generated by targeting market associated stakeholders. The growth of the Circulating Tumor Cells (CTC) market was mainly driven by the increasing R&D spending across the world.
In March 2024, Medtronic wins FDA clearance for bone tumor ablation tech.
In February 2024, STARmed to Accelerate Global Market Entry of EUSRA and ELRA Products through Olympus.
Butterfly Network introduced a tumor ablation gadget in February 2024. AI and 3D imagery have been used in the development of a novel portable ultrasound device. The system is a point-of-care gadget known as iQ3TM, and it performs optimal organ scanning. It offers 46 broad angle ultrasonic slices at the same time.
The CE (Conformité Européenne) Mark was granted to Medtronic Public Limited Company in August 2023 for its closed-loop rechargeable spinal cord stimulator (SCS), Inceptiv. It is the first Medtronic SCS device with a closed-loop function that senses individual biological signals and modifies stimulation as needed in real time to keep therapy in sync with everyday activities.
Compal Electronics, a Taiwanese electronics manufacturer, debuted a new radiofrequency ablation (RFA) device in April 2023. It is intended for use in percutaneous and intraoperative soft tissue coagulation and ablation procedures. This covers the ablation of non-resectable liver lesions, either fully or partially. Furthermore, Compal Electronics unveiled a bi-level ventilator designed to treat respiratory insufficiency brought on by central and/or mixed apneas and chronic obstructive pulmonary disease (COPD).
In April 2023, AngioDynamics. announced an expanded partnership with Cardiva, a Spanish-based medical device company. The partnership builds on an existing collaboration between AngioDynamics and Cardiva, which has successfully distributed AngioDynamics' vascular access portfolio in Spain and Portugal since 2012. The expanded partnership will now include AngioDynamics' oncology portfolio, with the addition of the Italian market in the distribution agreement.
In September 2023, Medical Technologies introduced a state-of-the-art radiofrequency ablation system aimed at enhancing tumor treatment efficacy. This new system employs advanced algorithms to precisely target and ablate tumors in various organs, including the liver, lungs, and kidneys. Its unique design allows for real-time monitoring and adjustment, ensuring optimal energy delivery and increased patient safety during the ablation procedure.
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyzes the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our tumor ablation market analysis, the increased demand for visually pleasing multipurpose tumor ablations that compliment other plumbing fixtures is driving the market. The demand for automated Tumor Ablations is increasing due to their convenience, efficiency, and touchless operation. These dispensers help minimize the spread of germs, reduce product waste, and offer a hygienic hand washing experience, particularly in public restrooms, healthcare facilities, and food service establishments.
Report Metric | Details |
---|---|
Market size value in 2022 | USD 1.48 Billion |
Market size value in 2031 | USD 4.63 Billion |
Growth Rate | al Tumor Ablation Market size was valued at USD 1.48 Billion in 2022 and is poised to grow from USD 1.68 Billion in 2023 to USD 4.63 Billion by 2031, by rising at a CAGR 13.5% |
Base year | 2023 |
Forecast period | 2024-2031 |
Forecast Unit (Value) | USD Billion |
Segments covered |
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Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered |
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Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Tumor Ablation Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Tumor Ablation Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Tumor Ablation Market:
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Report ID: SQMIG35A2494
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