SEATTLE, Aug. 19, 2021 (GLOBE NEWSWIRE) -- Global Interventional Oncology Ablation Market to Surpass US$ 766.6 Million by 2027, Says Coherent Market Insights (CMI)
According to Coherent Market Insights, the global interventional oncology ablation market is estimated to be valued at US$ 453.1 million in 2020 and is expected to exhibit a CAGR of 7.8% over the forecast period (2020-2027).
Key Trends and Analysis of the Global Interventional Oncology Ablation Market:
The increasing number of product approvals, product launches, and collaborations and partnerships strategies adopted by key players are the major factors, which are expected to drive the market growth over the forecast period.
For instance, in August 2019, Boston Scientific Corporation acquired BTG Plc. BTG develops and commercializes instruments that are used in minimally-invasive surgical procedures such as cryoablation devices targeting various cancers and vascular diseases.
Furthermore, in 2017, Medtronic Plc. received the U.S. Food and Drug Administration (FDA) clearance for an expanded indication for its OsteoCool radiofrequency ablation system to be used as palliative treatment for metastases in all bone anatomy such as ribs, sacrum, extremities, and hips, in patients who have failed or are not candidates for standard therapy. The device was originally cleared by the U.S. FDA for use in the spine.
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The increasing incidence of cancer is expected to drive growth of the global interventional oncology ablation market over the forecast period. For instance, according to the American Cancer Society 2020 report, in 2020, there will be an estimated 1.8 million new cancer cases diagnosed and 606,520 cancer deaths in the U.S. Thus, high incidence of cancer is expected to increase demand for interventional oncology ablation procedures, which is expected to drive the growth of global interventional oncology ablation market over the forecast period.
Key Market Takeaways:
The global interventional oncology ablation market is expected to exhibit a CAGR of 7.8% over the forecast period. This is owing to increasing companies focusing on novel therapy approvals for the treatment of cancers with the help of cryoablation. For instance, in January 2019, IceCure Medical Ltd., a medical device company, announced that the U.S. Food Drug and Administration approved the 510K clearance for ceSense3, ProSense, and MultiSense system to destroy benign and cancerous tumors by freezing, in the U.S.
Competitive Landscape:
Key players operating in the global Interventional oncology ablation market include Boston Scientific Corporation, Johnson & Johnson, Medtronic Plc, Varian Medical Systems, Inc., EDAP TMS S.A., AngioDynamics, CASCINATION AG, Merit Medical Systems, Inc., STARmed Co., and Biomedical Srl.
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Market Segmentation:
- Global Interventional Oncology Ablation Market, By Technology:
- Radiofrequency Ablation
- Microwave Ablation
- Cryoablation
- Irreversible Electroporation Ablation
- Global Interventional Oncology Ablation Market, By Indication:
- Liver Cancer
- Kidney cancer
- Lung Cancer
- Others
- Global Interventional Oncology Ablation Market, By End User:
- Hospitals & Clinics
- Ambulatory Surgical Centers
- Others
- Global Interventional Oncology Ablation Market, By Region:
- North America
- By Country
- U.S.
- Canada
- By Country
- Latin America
- By Country
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- By Country
- Europe
- By Country
- Germany
- U.K.
- France
- Italy
- Spain
- Russia
- Rest of Europe
- By Country
- Asia Pacific
- By Country
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
- By Country
- Middle East
- By Country
- GCC
- Israel
- Rest of Middle East
- By Country
- Africa
- By Country/Region
- South Africa
- Central Africa
- North Africa
- By Country/Region
- North America
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About Us:
Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. We are headquartered in India, having sales office at global financial capital in the U.S. and sales consultants in United Kingdom and Japan. Our client base includes players from across various business verticals in over 57 countries worldwide.
