Vancouver, Jan. 08, 2024 (GLOBE NEWSWIRE) -- The global tumor ablation market size was USD 1.68 Billion in 2022 and is expected to register a rapid revenue CAGR of 13.6% during the forecast period. Increasing prevalence of cancer and technological advancements in tumor ablation are key factors driving market revenue growth.
Tumor ablation devices are used in the treatment of tumors, particularly in cases where surgery is not a viable option or when patients seek minimally invasive alternatives. The World Health Organization (WHO) estimated that 10 million deaths, or approximately one in six attributable to cancer in 2020, making it the leading cause of death worldwide.
American Cancer Society estimated there are 1.9 million new cancer cases and 609,360 cancer deaths in 2022.Lung cancer is the second most common cancer globally. There were over 2.2 million new cases of lung cancer in 2020. Smoking, alcohol drinking, and cigarette use is the leading cause of cancer, responsible for approximately 85% of all cases.
Request Free Sample Copy (To Understand the Complete Structure of this Report [Summary + TOC]) @ https://www.emergenresearch.com/request-sample/2680
Rising demand for minimally invasive procedures is another key factor driving revenue growth of market. Minimally invasive procedures typically involve smaller incisions, which can lead to less pain, scarring, and bleeding. Procedures are generally associated with a lower risk of complications such as infection and blood loss. This procedure has shorter recovery time.
Technological advancements in non-thermal ablation and RF ablation is also expected to drive market revenue growth during the forecast period. The most significant advancement in the tumor ablation market over the past year is the development of Artificial Intelligence (AI)-powered ablation systems.
The presence of alternative treatment options is a key factor. which could restrain market growth. Traditional surgical procedures remain the gold standard for many types of cancers. Advancements in surgery offer less invasive options with comparable results to ablation, which limit the appeal of ablation for certain patients. Radiation therapy is another effective treatment option for many cancers, often used in conjunction with other modalities such as surgery or chemotherapy.
Segment Insights
Technology Insights:
On the basis of technology, the global tumor ablation market is segmented into RF ablation The Microwave Ablation (MWA), ultrasound ablation, and cryoablation. The RF ablation segment accounted for largest market share in the global tumor ablation market in 2022 due to increasing prevalence of cancer. The global success rate for Radiofrequency Ablation (RFA) treatments was 88.6%. RFA is a type of minimally invasive procedure that is used to treat tumors, but it can also be used to treat other conditions such as chronic pain and varicose veins. In addition, technological advancements such as integration of advanced imaging modalities, Computed Tomography (CT) and Magnetic Resonance Imaging (MRI), into RFA procedures enhances targeting accuracy and treatment outcomes.
Emergen Research is Offering Limited Time Discount (Grab a Copy at Discounted Price Now) @ https://www.emergenresearch.com/request-discount/2680
Application Insights:
Based on Application, the global tumor ablation market is segmented into liver cancer, The lung cancer, breast cancer, prostate cancer, kidney cancer, and others. The liver cancer segment is expected to account for significantly large market share in the global tumor ablation market during the forecast period due to increasing prevalence of liver cancer. American cancer society estimated there were over 800,000 individuals diagnosed with liver cancer each year throughout the world. Ablation is a very effective treatment for liver cancer, with local tumor control rates of up to 90%.
Regional Insights:
North America accounted for largest market share in the global tumor ablation market in 2022 due to rising prevalence of cancer. In 2022, American cancer society estimated 1.9 million new cancer cases diagnosed and 609,360 cancer deaths in the U.S. Approximately 237,000 people were diagnosed with lung cancer and there were about 25,000 men and 11,000 women get liver cancer. In addition, key strategic initiatives as well as partnerships between major market companies developing cancer therapeutic especially in the U.S., is also expected to drive market revenue growth of this region during the forecast period.
Europe is expected to account for considerably large market share in the global tumor ablation market over the forecast period due to rising prevalence of cancer. European commission estimated new cancer cases rise by 2.3 % compared to 2020, to reach 2.74 million in 2022. Similarly, cancer deaths went up by 2.4 % compared to 2020. In addition, rising initiatives and product approvals by leading companies is another factor driving market revenue growth of this region.
Direct Order Can Be Placed Through This Link [Exclusive Copy] @ https://www.emergenresearch.com/select-license/2680
Scope of Research
| Report Details | Outcome |
| Market Size in 2022 | USD 1.68 Billion |
| CAGR (2023–2032) | 13.60% |
| Revenue Forecast To 2032 | USD 5.85 Billion |
| Base Year For Estimation | 2022 |
| Historical Data | 2019–2021 |
| Forecast Period | 2023–2032 |
| Quantitative Units | Revenue in USD Billion and CAGR in % from 2023 to 2032 |
| Report Coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Segments Covered | Technology, application, treatment, end-use, and region |
| Regional Scope | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa |
| Country Scope | U.S., Canada, Mexico, Germany, France, UK, Italy, Spain, Benelux, Russia, Rest of Europe, China, India, Japan, South Korea, ASEAN Countries, Oceania, Rest of APAC, Brazil, Rest of LATAM, Saudi Arabia, UAE, South Africa, Turkey, and Rest of Middle East & Africa |
| Key Companies Profiled | Medtronic, Stryker corporation, Boston scientific Corporation, OLYMPUS Corporation, BIOTRONIK, Angio dynamics, Johnson and Johnson Private limited, Theraclion, EDAP TMS, and Merit Medical Systems |
| Customization Scope | 10 hours of free customization and expert consultation |
Major Companies and Competitive Landscape
The global tumor ablation market is fairly fragmented with many large and medium-sized players accounting for majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective tumor ablation solution in the market. Some major players included in the global tumor ablation market report are:
- Medtronic
- Stryker Corporation
- Boston scientific Corporation
- OLYMPUS Corporation
- BIOTRONIK
- Angio Dynamics
- Johnson and Johnson Private limited
- Theraclion
- EDAP TMS
- Merit Medical Systems
Strategic Development
- On 30 March 2023, AngioDynamics announced that it has formed a new partnership with Minimax Medical for international distribution of their product portfolio. This also includes distribution of Radiofrequency Ablation System for tumors on an international level. The partnership increases AngioDynamics' reach into new markets by giving access to a wider pool of potential customers and an enhanced product portfolio.
- On 19 December 2022, Techsomed Ltd. announced the opening of a new German Subsidiary, as a strategic collaboration with Research Institute Fraunhofer MEVIS, to advance the development of its flagship software technology BioTraceIO 360. This is an End-to-End Solution for Image-Guided Tumor Ablation Therapy. This announcement adds Techsomed’s lineup by eliminating the need for invasive biopsies and providing real-time guidance during ablation procedures.
Browse Full Report Description + Research Methodology + Table of Content + Infographics @ https://www.emergenresearch.com/industry-report/tumor-ablation-market
Segments Covered in Report
For the purpose of this report, Emergen Research has segmented the global tumor ablation market on the basis of technology, application, treatment, end-use, and region:
- Technology outlook (Revenue, USD Billion; 2019-2032)
- Radiofrequency Ablation
- Microwave Ablation
- Ultrasound Ablation
- Cryoablation
- others
- Application Outlook (Revenue, USD Billion; 2019-2032)
- Lung Cancer
- Lung Cancer
- Prostate Cancer
- Breast Cancer
- Kidney Cancer
- Others
- Treatment Outlook (Revenue, USD Billion; 2019-2032)
- Percutaneous Ablation
- Laparoscopic Ablation
- Surgical Ablation
- End-use Outlook (Revenue, USD Billion; 2019-2032)
- Hospitals
- Oncology Centers
- Ambulatory Surgical Center (ASC)
- Regional Outlook (Revenue, USD Billion; 2019–2032)
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Benelux
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- South Korea
- India
- ASEAN Countries
- Oceania
- Rest of APAC
- Latin America
- Brazil
- Mexico
- Rest of LATAM
- Middle East & Africa
- GCC Countries
- Israel
- Turkey
- South Africa
- Rest of Middle East & Africa
- North America
Emergen Research is Offering Exclusive Customization as per your Specific Requirements@ https://www.emergenresearch.com/request-for-customization/2680
About Emergen Research
Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy.
Contact Us:
Eric Lee
Corporate Sales Specialist
Emergen Research | Web: https://www.emergenresearch.com/
Direct Line: +1 (604) 757-9756
E-mail: sales@emergenresearch.com
Explore Our Blogs and Insights Section: https://www.emergenresearch.com/insights
