Global Tumor Ablation Market

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 News

  • 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. 

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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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Global Tumor Ablation Market

Report ID: SQMIG35A2494

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