New York, USA, Aug. 23, 2024 (GLOBE NEWSWIRE) -- Market Overview:
The global Tumor Ablation Market size is predicted to grow from USD 1.60 billion in 2023 to USD 4.17 billion by 2032. It is anticipated to grow at a CAGR of 11.3% from 2024 to 2032, according to the latest research report by Polaris Market Research.
Market Introduction:
What is Tumor Ablation?
Ablation is a tumor-conducted, nonsurgical treatment in which mediating radiologists usher a needle-tipped catheter instantly into a tumor, then diminish or demolish the tumor with excessive heat or cold. As image direction is utilized accurately to detect the tumor the usual adjoining tissue is pardoned the impacts of heat or cold. The types of ablations utilized to cure cancer are radiofrequency ablation in which one conveys elevated frequency electrical currents through the needle that generates sufficient heat to diminish the tumor cells. Another type of technique is cryoablation, in which one argon or helium gas is spread through the needle, overcasting the temperature in the tumor to -40 degrees Celsius for many minutes.
The tumor ablation market is witnessing substantial demand owing to medical gadget firms and healthcare bodies funding massively in research and development to progress ablation technologies. For instance, in November 2022, Baird Medical procured FDA consent for its microwave ablation approach augmenting treatment alternatives for thyroid nodules and alternate soft tissue illnesses in the U.S. These inventions are propelling market growth by providing more modern and accurate methods for curing several kinds of cancer.
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Tumor Ablation Market Report Attributes
| Report Attributes | Details |
| Market value in 2023 | USD 1.60 billion |
| Market value in 2032 | USD 4.17 billion |
| CAGR | 11.3% from 2024-2032 |
| Base year | 2023 |
| Historical data | 2019-2022 |
| Forecast period | 2024-2032 |
Key Highlights of the Report:
- Various factors, such as earmarked treatments capable of particularly locating and diminishing tumors with surging cancer patients, are driving the market for tumor ablation.
- The market is primarily segmented based on technology, mode of treatment, application, and region.
- North America dominated the market with the largest tumor ablation market share.
Tumor Ablation Market Key Players:
- AngioDynamics Inc.
- Boston Scientific Corp.
- BVM Medical Ltd.
- BTG International Ltd.
- EDAP TMS S.A.
- Integra LifeSciences Holdings Corp.
- Medtronic plc.
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Top Market Developments:
Growth Drivers and Trends:
- Improved Screening Initiatives: Growing consciousness and enhanced screening initiatives ease premature cancer diagnosis, sanctioning prompt mediation with ablation techniques. These elements broadly propel market augmentation as medical progressions persist in improving the productivity and availability of tumor ablation treatments.
- Growing Presence of Cancer Patients: The escalating pervasiveness of cancer patients expanded the demand for tumor ablation approaches. These techniques involving radio frequency, microwave, cryoablation, and laser ablation offer earmarked leveling of cancerous cells while dispensing with healthy tissue, supporting the tumor ablation market growth.
- Growing Tendency Towards Minimally Invasive Procedures: The growing inclination of patients and surgeons towards the minimally invasive course of action will ease the growth of the market. Minimally invasive procedures, as contrasted to traditional open surgical processes, require fewer cuts or needle installation. Thus, there is less tissue injury, controlled blood loss, and a lesser probability of obstacles.
Which Region Leads Tumor Ablation Sector?
- North America: The North American region dominated the tumor ablation industry with the largest revenue share. The region's dominance in the market can be attributed to the fact that governments are funding in healthcare framework, investing in progressive medical technologies, and accelerating administrative assent for inventive cures, which enhances the holistic standard of cancer care.
- Asia Pacific: Asia Pacific is anticipated to witness the fastest growth in the tumor ablation market over the estimated period due to the growing requirement for minimally invasive tumor ablation techniques and secure remedial options. Mechanized tumor ablations improve productivity, decrease labor prices, and enhance packaging preciseness, rendering them an alluring investment for makers striving to streamline their operations.
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Segmental Overview:
By Technology Outlook:
- Radiofrequency (RF) Ablation
- Microwave Ablation
- Cryoablation
- Others
By Mode of Treatment Outlook:
- Surgical Ablation
- Laparoscopic Ablation
- Percutaneous Ablation
By Application Outlook:
- Liver Cancer
- Lung Cancer
- Kidney Cancer
- Bone Metastasis
- Others
By Regional Outlook:
- North America (U.S., Canada)
- Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
- Asia Pacific (Japan, China, India, Malaysia, Indonesia, South Korea)
- Latin America (Brazil, Mexico, Argentina)
- Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)
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About Polaris Market Research:
Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for PMR’s clientele spread across different enterprises. We at Polaris are obliged to serve PMR’s diverse customer base present across the industries of healthcare, technology, semiconductors, and chemicals among various other industries present around the world. We strive to provide PMR’s customers with updated information on innovative technologies, high-growth markets, emerging business environments, and the latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. Adept with a highly competent, experienced, and extremely qualified team of experts comprising SMEs, analysts, and consultants, we at Polaris endeavor to deliver value-added business solutions to PMR’s customers.
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