The global tumor ablation market is expected to reach a value of USD 580.1 Million by 2021, at a CAGR of 12.5% during 2016-2021.
A number of factors such as technological advancements in the field of tumor ablation focused on enhancing effectiveness and safety of the treatment, rising demand of minimal invasive tumor ablation techniques, increasing prevalence of cancer across the globe, and growing public-private initiatives and funding to support R&D activities in tumor ablation are propelling the growth of the market. However, factors such as unfavorable regulatory policies and cost-containment measures adopted by various governments are restraining the optimal market growth.
In 2016, North America is estimated to dominate the global tumor ablation market. The rising prevalence and incidence of major types of cancer (such as liver, lung, kidney, and bone metastasis), rising inclination of patients towards minimally invasive procedures for cancer treatment, and increasing government funding for cancer research are driving the growth of the market in North America.
The Asia-Pacific market is expected to register the highest CAGR from 2016 to 2021. This is primarily due to the rising prevalence of various cancers coupled with growing geriatric population, rising market demand of minimally invasive surgical procedures, growing medical tourism, and ongoing initiatives by various governments for the modernization of healthcare infrastructure in the region.