The global tumor ablation market size is anticipated to reach USD 2.16 billion by 2025, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 11.12% over the forecast period. High prevalence of cancer across the globe is the key market driver. About 13.0% of population suffers from cancer each year, as per the statistics by the World Health Organization (WHO). Extensive adoption of minimally invasive procedures due to the benefits such as less trauma, speedy recovery, and faster recovery is anticipated to bode well for market expansion.
Increasing demand for minimally invasive surgeries coupled with technological advancements in thermal ablation 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 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, rising per capita income is enabling people to opt for advanced treatment for tumors. This factor is anticipated to positively influence market growth over the forecast period. Active role of healthcare agencies and government in creating awareness about various cancer types is expected to facilitate usage of tumor ablation therapy.
Radiofrequency emerged as the dominant technology segment with 30.5% share in 2016 attributed to application in removal of solid tumors
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 substantial growth owing to high prevalence caused by sedentary lifestyle, rise in smoking, and air pollution
North America dominated the overall market in the past due to high prevalence of cancer in Canada, high purchasing power parity, government support for quality healthcare, and availability of reimbursement
Major players operating in the tumor ablation market include, Galil Medical Inc.; Misonix Inc.; HealthTronics, Angiodynamics; Boston Scientific Corporation; Medtronic Plc. (Covidien); SonaCare Medical; EDAP TMS S.A.; and Neuwave Medical Inc.
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Grand View Research has segmented the global tumor ablation market on the basis of technology, treatment, application, and region:
Tumor Ablation Technology Outlook (Revenue, USD Million, 2014 - 2025)
Tumor Ablation Treatment Outlook (Revenue, USD Million, 2014 - 2025)
Tumor Ablation Application Outlook (Revenue, USD Million, 2014 - 2025)
Tumor Ablation Regional Outlook (Revenue, USD Million, 2014 - 2025)
Middle East and Africa (MEA)
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