Tumor Ablation Market to Reach $5.0 Billion, by 2032 at 13.5% CAGR: Allied Market Research

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15 Nov, 2023, 15:01 GMT

Tumor ablation is a medical procedure to destroy or remove abnormal tissue, such as cancerous tumors, without the need for surgery. It is a minimally invasive approach that is often used when surgery is not a viable option or when patients prefer a less invasive treatment.

PORTLAND, Ore., Nov. 15, 2023 /PRNewswire/ -- Allied Market Research published a report, titled, "Tumor Ablation Market by Technology (Radiofrequency Ablation, Microwave Ablation, Cryo-Ablation, Irreversible Electroporation Ablation, and Others), Treatment (Surgical Ablation, Laparoscopic Ablation, and Percutaneous Ablation), and Application (Kidney Cancer, Liver Cancer, Breast Cancer, Lung Cancer, Prostate Cancer, and Bone Cancer): Global Opportunity Analysis and Industry Forecast, 2023–2032.". According to the report, the global tumor ablation market was valued at $1.4 Billion in 2022 and is estimated to reach $5.0 Billion by 2032, exhibiting a CAGR of 13.5% from 2022 to 2032.

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Prime determinants of growth

The tumor ablation market has experienced significant growth due to increase in the prevalence of cancers across the globe and the increase in demand for minimally invasive tumor ablation techniques.

Report coverage & details:

Report Coverage	Details
Forecast Period	2023–2032
Base Year	2022
Market Size in 2022	$1.4 Billion
Market Size in 2032	$5.0 Billion
CAGR	13.5 %
No. of Pages in Report	240
Segments covered	Technology, Treatment, Application, and Region.
Drivers	Increase in prevalence of cancers across the globe. Increase in demand for minimally invasive tumor ablation techniques.
Opportunities	Rise in research and development activities for tumor ablation.
Restraints	Side-effects associated with tumor ablation treatment.

Economic Downturn Analysis: Impact of Recession in 2023 on the Tumor Ablation Market

The global recession had a significant impact on the tumor ablation market.
The high inflation rate and the economic uncertainty have impacted the potential investment for new product development and research activities.
However, the market for tumor ablation market is expected to recover owing to rise in the prevalence of cancer.

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The other ablation technologies segment is expected to maintain its dominance throughout the forecast period.

By technology, the other ablation technologies segment held the highest market share in 2022, accounting for more than one-third of the tumor ablation market revenue, owing to high adoption of laser ablation surgery as compared to other traditional methods.

The surgical ablation segment is expected to maintain its leadership status throughout the forecast period.

Based on treatment, the surgical ablation segment held the highest market share in 2022, accounting for one-third of the tumor ablation market revenue. This is attributed to the high adoption of tumor ablation devices to surgically remove cancerous tumors.

The liver cancer segment is projected to maintain its leadership status throughout the forecast period.

By application, the liver cancer segment held the highest market share in 2022, accounting for one-third of the tumor ablation market revenue. This is attributed to surge in the prevalence of liver cancer.

North America is projected to maintain its leadership status throughout the forecast period.

By region, North America held the highest market share in 2022, accounting for two-fifths of the tumor ablation market revenue. This is attributed to rise in the prevalence of cancer and presence of major key players.

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Leading Market Players:

Medtronic Plc.
Boston Scientific Corporation
Smith And Nephew Plc.
Angiodynamics Inc.
Healthtronics Inc.
Bioventus LLC
Johnson And Johnson
Conmed Corporation
Olympus Corporation
Integra Lifesciences Holdings Corporation

The report provides a detailed analysis of the key players in the tumor ablation market. These players have adopted different strategies such as product development, product approval, acquisition, and partnership to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.

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Regenerative Medicine Market - Global Opportunity Analysis and Industry Forecast, 2022–2032
Autoinjectors Market - Global Opportunity Analysis and Industry Forecast, 2022–2032
Surgical Imaging Market - Global Opportunity Analysis and Industry Forecast, 2022–2032

About Allied Market Research:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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