According to the report “Global Tumor Ablation Market,” published by Market Data Forecast, the global market is projected to reach USD 681.79 million by 2021, at a CAGR of 12.7% from 2016 to 2021.The global tumor ablation market is growing considerably, due to increasing awareness of ablation procedure over other surgical and conventional procedures, and increasing demand for minimally invasive cancer treatment procedure.
To get a brief idea, Tumors are the group of abnormal cells that accumulate together and form lumps. Tumor ablation is a minimally invasive procedure used to destroy cancer cells in the chest, lung and liver. Rising Prevalence of cancer is proportional to the growth of tumor ablation market. According to the recent statistics published by the WHO, cancer accounts for 13% of the deaths worldwide. Cancer incidence is expected to increase by 70% over the next couple of decades. The increasing investment in research and development to introduce novel therapies, such as chemo therapy and radiation therapy, are creating opportunities for the global tumor ablation market.
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global Tumor Ablation Market: Drivers & Restraints
Factors such as growing geriatric population across the globe, increasing number of people affected with cancer, technological advancements in the field of ablation are driving the global tumor ablation market. Increasing demand for minimally invasive cancer treatment procedures and growing awareness regarding the benefits offered by ablation procedures over the conventional surgical procedures are also fuelling the growth of the market. However therapeutic challenges related to ablation procedures and stringent regulatory guidelines leading to increase in gestation period of product launches are hindering the growth of the market
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Global Tumor Ablation Market: Segmentation
- Radiofrequency Ablation Devices
- Microwave Ablation Devices
- Cryoablation Devices
- Other Ablation Devices
- Surgical Ablation
- Laparoscopic Ablation
- Percutaneous Ablation
- Liver Cancer
- Breast Cancer
- Lung Cancer
- Prostrate Metastasis
- Other Cancers
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Global Tumor Ablation Market: Overview
Radiofrequency devices segment dominated the market with a share of about 35% attributed to its crucial role in solid tumour removal in the body. Surgical Procedures segment accounted for a prominent share of around 37% owing to increasing prevalence of liver and breast cancers. Rising Prevalence of cancer is proportional to the growth of tumor ablation market. According to the recent statistics published by the WHO, cancer accounts for 13% of the deaths worldwide. Cancer incidence is expected to increase by 70% over the next couple of decades.
In addition, the massive unexplored market in the tumor ablation industry of the developing economies is creating abundant opportunities for the global tumor ablation market, to grow at a considerable rate during the forecast period. The increasing adoption rate of radiofrequency based tumor ablation procedure is a trend, witnessed in the global tumor ablation market.
Global Tumor Ablation Market: Region-wise Outlook
On the basis of geography global Tumor Ablation market is segmented into North America, Europe, Asia-Pacific, Latin America and Middle-East & Africa. North America dominated the industry with over 33% owing to its advanced healthcare infrastructure. Rising prevalence of cancer in this region is a major driving factor for the industry in this region. Asia Pacific is estimated to be the fastest growing region during the forecast period due to huge population base and favourable economic developments in the region.
Key Questions Answered
- What will be the market growth till 2021 and what will be the resultant market forecast in the year?
- What was the market size from 2016 to 2021 ?
- What is the current and future Tumor Ablation Market outlook in worldwide?
- What trends are affecting the Global market?
- What is the competitive landscape and market share of major players in the Tumor Ablation space in global?
- What are the key, high growth markets that Tumor Ablation manufacturers should expand into? Which market segments are growing the fastest?
- What are the unmet needs with the Tumor Ablation currently on the market? How will emerging technologies fulfil these unmet needs?
- What is physician perception and market outlook of Tumor Ablation?
- What are the challenges and barriers that have hindered widespread adoption of Tumor Ablation?
Global Tumor Ablation Market: Key Players
Some of the key companies dominating the market include Medtronic Plc., Boston Scientific Corporation, Angiodynamics, Mermaid Medical, HealthTronics, Galil Medical Inc., EDAP TMS S.A., SonaCare Medical, Misonix, Inc. and Neuwave Medical, Inc.
Reasons to buy Global Tumor Ablation Market Report:
- Global, regional and country-level analysis and forecasts of the study market; providing Insights on the geographical areas in which this industry is prospering
- Segment-level analysis on basis of product type, application, colour along with market size forecasts and y-o-y estimations to detect key areas of industry growth in detail
- Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
- Study of macro and micro environmental factors that affect the market presented in an extensive strategic analyses section containing PESTLE and Porter’s Five Forces Analyses
- A comprehensive listing of key market players along with company overview, product portfolios, key financial information (subjected to availability), SWOT analysis and Analyst overview to study and sustain the market environment
- Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
- Expertly devised Market Outlook along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
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