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.'

What is the key driver of Global Tumor Ablation Market?

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.

What is the key market trend for Global Tumor Ablation Market?

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.

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 2025-2032

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

Tumor Ablation Market News

In July 2024, Techsomed Ltd., a leading medical software organization announced the launch of its new BioTrace software suite for its liver tumor ablation solutions. BioTraceIO Vision and BioTraceIO Precision were the ablation products that were launched last year and are operated by the newly launched software suite.
In March 2024, Medtronic, a renowned healthcare technology company announced that it has received clearance from the United States Food and Drug Administration (FDA) for its novel bone tumor ablation offering. OsteoCool™ 2.0 is designed for the treatment of painful bone metastases and benign bone tumors.
In September 2022, Stryker, a leading medical technology provider announced that it had received approval for its OptaBlate bone tumor ablation system. The United States FDA granted a 510(k) approval, which opened opportunities for Stryker to expand its ablation product portfolio.

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).

Tumor ablation providers around the world are estimated to focus on research to maximize their business potential and stay competitive. Developing new therapeutics for specific cancer indications will also be a preferred strategy for new as well as leading tumor ablation companies. Market players can also benefit from government support to take their oncology research capabilities to the next level. Use of advanced drug discovery and development techniques will also be popular among tumor ablation providers in the future. '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)'

Prevalence of cancer around the world is increasing at a rapid pace and this is projected to be a key factor driving up the demand for tumor ablation over the coming years. Tumor ablation is used for minimally invasive treatment of liver, lung, and kidney cancers and is especially popular among patients unfit for surgery.

North America is estimated to secure the top spot when it comes to the global tumor ablation market forecast. The presence of a developed healthcare ecosystem, quick adoption of minimally invasive treatment technologies, and high investments in oncology R&D are expected to be key factors promoting the demand for tumor ablation in North America going forward. The United States is estimated to be the leading market for tumor ablation companies in this region owing to high incidence of different types of cancers and rising healthcare expenditure. Canada is also projected to create new opportunities for tumor ablation providers operation in this region.

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What is the global market size of Tumor Ablation Market?

Who are the key vendors in the Tumor Ablation Market?

What is the key driver of Tumor Ablation Market?

What is the key market trend for Tumor Ablation Market?

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

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