The global tumor ablation market size is anticipated to reach USD 2.41 billion by 2026, according to a new report by Grand View Research, Inc. The market is estimated to witness a healthy CAGR of 11.12% during the forecast period. Increasing cancer incidence across the globe is the key driver for this market. About 13.0% of the population suffers from cancer each year, as per the statistics by the World Health Organization (WHO). Furthermore, the increase in the adoption of minimally invasive procedures owing to benefits such as less trauma, speedy recovery, and faster recovery of these procedures is anticipated to further propel the market growth.
The increasing demand for minimally invasive surgeries coupled with technological advancement in the thermal ablation field is anticipated to boost market growth. For instance, Usage of cooled radiofrequency denervation technique, a procedure that uses radiofrequency thermal energy to ablate sensory nerve fibers of the sacroiliac joint, with internally cooled radiofrequency probes to enlarge the size of the lesion. Similarly, in February 2015, SonaCare Medical LLC launched Sonalink - a remote patient monitoring platform, that can be used during HIFU procedures. In addition, the rising per capita income, especially in developing countries, is anticipated to increase the adoption of advanced ablation techniques, thus driving the market growth.
Supportive government initiatives for creating awareness about various cancer types is expected to facilitate usage of tumor ablation therapy. For instance, September is declared as National Prostate Cancer Awareness Month, for spreading awareness regarding prostate cancer in the U.S.
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Further Key Findings from the Study Suggest:
Radiofrequency dominated the technology segment with more than 25.0% share in 2018. This can be attributed to its prominent application in solid tumor removal in the body.
Percutaneous procedures are expected to witness lucrative growth over the forecast period due to rising demand for minimally invasive procedures offering faster recovery and higher safety
Lung cancer is anticipated to witness lucrative growth over the forecast period. Sedentary lifestyle, increasing incidences of smoking and rising air pollution are contributing to the growing prevalence of lung cancer.
North America dominated the overall tumor ablation market. The key factors contributing to the growth of this region are increasing the prevalence of cancer, high purchasing power parity, government support for quality healthcare, and availability of reimbursement.
Major players of the market include Galil Medical Inc., Misonix Inc., HealthTronics, Angiodynamics, (Covidien), Boston Scientific Corporation, Medtronic Plc. SonaCare Medical, EDAP TMS S.A. and Neuwave Medical Inc.
Grand View Research has segmented the global tumor ablation market on the basis of technology, treatment, application, and region:
Technology Outlook (Revenue, USD Million, 2015 - 2026)
Other Ablation Technologies
Treatment Outlook (Revenue, USD Million, 2015 - 2026)
Application Outlook (Revenue, USD Million, 2015 - 2026)
Regional Outlook (Revenue, USD Million, 2015 - 2026)
Middle East and Africa (MEA)
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