What is the global market size of Tumor Ablation Market?

Global Tumor Ablation Market size was valued at USD 1.14 Billion in 2021 and is poised to grow from USD 1.48 Billion in 2022 to USD 4.08 Billion by 2030, by rising at a CAGR 13.5% during the forecast period (2023-2030).

Who are the key vendors in the Global Tumor Ablation Market?

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. 'Medtronic plc', 'Boston Scientific Corporation', 'Johnson & Johnson (Ethicon, Inc.)', 'AngioDynamics, Inc.', 'EDAP TMS S.A.', 'SonaCare Medical, LLC', 'Merit Medical Systems, Inc.', 'Misonix, Inc.', 'HealthTronics, Inc.', 'Galil Medical Ltd.', 'IceCure Medical Ltd.', 'Monteris Medical, Inc.', 'Perseon Corporation', 'NeuWave Medical (Johnson & Johnson)', 'MedWaves, Inc.', 'Hologic, Inc.', 'Sonacare Inc. (HIFU division)', 'Symple Surgical Inc.', 'BVM Medical Limited', 'Misonix, Inc.'

Which region accounted for the largest share in Global Tumor Ablation Market?

North America led the global market, capturing more than 30.0% of total sales. Government support for great healthcare, high buying power parity, reimbursement availability, and the rising prevalence of cancer are all major reasons driving this region's rise. In the United States, for example, the Patient Protection and Affordable Care Act (PPACA) improves the quality and affordability of health care via health coverage laws that minimize healthcare costs for individuals and the government. Furthermore, the precision medicine effort is a crucial growth factor in developing personalized solutions for diseases with distinct characteristics. As a result, such government activities are expected to strengthen the whole healthcare system, hence stimulating market growth.

Tumor Ablation Market Size, Share, Growth Analysis, By Technology(Radiofrequency Ablation, Microwave Ablation, Cryoablation, Irreversible Electroporation Ablation), By Treatment(Surgical Ablation, Laparoscopic Ablation, and Percutaneous Ablation), By Application(Kidney Cancer, Liver Cancer, Breast Cancer, Lung Cancer), By Product Type(Generators, and Probes/electrodes (Radiofrequency Ablation Probes, Microwave Ablation Probes and Other Probes/Electrodes)), By End Use(Hospitals & Clinics, Cancer Care Centers, Other End Users), By Region - Industry Forecast 2024-2031

Report ID: SQMIG35A2494 | Region: Global | Published Date: September, 2024
Pages: 219 | Tables: 95 | Figures: 76

Tumor Ablation Market Dynamics

Tumor Ablation Market Drivers

Increasing Incidence of Cancer

The rising prevalence of cancer globally, particularly in lung, liver, kidney, and breast cancers, is a major driver for the tumor ablation market. Tumor ablation techniques offer minimally invasive alternatives to surgery for the treatment of localized tumors, providing effective therapeutic options to patients who may not be suitable candidates for surgery.

Tumor Ablation Market Restraints

High Cost of Ablation Procedures

Tumor ablation procedures can be expensive, especially when advanced technologies and imaging guidance are involved. The high cost of equipment, consumables, and specialized healthcare professionals can limit the accessibility of tumor ablation treatments, particularly in developing regions with resource constraints.

Tumor Ablation Market Report Snapshots

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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).

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. 'Medtronic plc (Ireland) ', 'Boston Scientific Corporation (US) ', 'Johnson & Johnson (Ethicon, Inc.) (US) ', 'AngioDynamics, Inc. (US) ', 'EDAP TMS S.A. (France) ', 'SonaCare Medical, LLC (US) ', 'Merit Medical Systems, Inc. (US) ', 'Misonix, Inc. (US) ', 'HealthTronics, Inc. (US) ', 'Galil Medical Ltd. (US) ', 'IceCure Medical Ltd. (Israel) ', 'Monteris Medical, Inc. (Canada) ', 'Hologic, Inc. (US) ', 'Symple Surgical Inc. (US) ', 'BVM Medical Limited (UK) ', 'Ablatherm (Esaote S.p.A.) (Italy) ', 'Bioventus LLC (US) ', 'CEVOTEC (Germany) ', 'Fujifilm Holdings Corporation (Japan) ', 'InSightec Ltd. (Israel) ', 'Philips Healthcare (Netherlands)'

The rising prevalence of cancer globally, particularly in lung, liver, kidney, and breast cancers, is a major driver for the tumor ablation market. Tumor ablation techniques offer minimally invasive alternatives to surgery for the treatment of localized tumors, providing effective therapeutic options to patients who may not be suitable candidates for surgery.

Technological Advancements: The tumor ablation market is witnessing continuous technological advancements, leading to the development of more advanced and precise ablation techniques. These advancements include the integration of imaging modalities for real-time guidance, the use of robotic systems for improved accuracy, and the development of new energy sources for ablation. These technological advancements enhance the efficacy and safety of tumor ablation procedures.

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.

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Tumor Ablation Market Dynamics

Tumor Ablation Market Report Snapshots

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What is the global market size of Tumor Ablation Market?

Who are the key vendors in the Tumor Ablation Market?

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