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Tumor Ablation Devices Market to Surge to US$ 1.01 Billion by 2025
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The Global Tumor Ablation Devices Market, by Technology (Radiofrequency Ablation, Microwave Ablation, Cryoablation, High-Intensity Focused Ultrasound, Laser Interstitial Thermal Ablation and Others), by Application (Blood Cancer, Breast Cancer, Liver Cancer, Prostate Cancer, Lung Cancer, Kidney Cancer and Others), and By End User (Hospitals and Ambulatory Surgical Centers) was valued at US$ 464.18 million in 2017 and is projected to exhibit a CAGR of 10.2% over the forecast period (2017–2025), as highlighted in a new report published by Coherent Market Insights.
Tumor ablation is a minimally invasive technique that is commonly used in the treatment of tumors of the liver, kidney, bone, and lungs. The global tumor ablation market has evolved significantly in the last two decades. This can primarily be attributed to the emergence and rapid adoption of various technologically advanced devices, such as multi-polar and bipolar electrodes, temperature-controlled and fluid-cooled ablation catheters, and imaging and contact force measuring sensors. Growing awareness about the benefits of tumor ablation for its efficiency, less risk of tissue damage, and faster recovery, is likely to fuel its demand substantially over the next few years.
The uptake of new technology such as microwave technology for tumor ablation is also increasing considerably due to its additional therapeutic benefits such as faster heat-generation (which reduces the susceptibility to damage to surrounding organs and gives opportunity to ablate larger tumors), lower heat-sink effect (that results in destruction of surrounding healthy tissue), and better safety & efficacy profile, thus expected to reflect positively on the market share of this segment over the near future.
Browse 24 Market Data Tables and 30 Figures spread through 152 Pages and in-depth TOC on "Tumor Ablation Devices Market, Technology (Radiofrequency Ablation, Microwave Ablation, Cryoablation, High-Intensity Focused Ultrasound, Laser Interstitial Thermal Ablation and Others), by Application (Breast Cancer, Liver Cancer, Prostate Cancer, Lung Cancer, Kidney Cancer and Others), and By End User (Hospitals and Ambulatory Surgical Centers) - Global Forecast to 2025"
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Growing awareness of the benefits of tumor ablation devices especially through radiofrequency because of its efficiency, less risk of tissue damage, and faster recovery, is likely to fuel its demand substantially over the next few years. Healthcare professionals are increasingly getting inclined towards recommending ablation surgical procedures to remove tumors and treat arrhythmia, especially among the geriatric population. This is mainly attributed to its minimally invasive nature that significantly reduces blood loss and aids rapid patient recovery. In terms of technological advancements, companies such as SonaCare Medical are coupling ablation techniques with other technologies to improve accuracy, performance, and level of care with its product-SonaLink, a remote patient monitoring platform that put to use along with Sonatherm ablation system to enable physicians to enhance patient care experience, thereby, promoting market growth.
Tumor ablation devices find wide application in various cancer treatment. The recent past has witnessed a rapid spur in incidence of cancer, across all age groups. This, inadvertently, creates a highly favorable environment for market growth. Government regulatory bodies also plays a major role in the manufacture and promotion of tumor ablation systems in their respective countries. The implementation of government initiatives to build healthcare infrastructure has increased the healthcare budgets. For instance, the government of UK in 2013 had spent around 300 million euros in finding tumors earlier which allow more patients to have access to the latest genetic cancer tests, which in turn should result in more personalized and more effective treatments.
In addition to this, the growing awareness of diagnostic procedures and treatment options for certain cancers has created tremendous opportunities for the growth of vendors in the market. Although, the market does not lineate towards drawbacks as there are no significant reasons that could obstruct the expansion of the global tumor ablation devices market except the side effects of the surgical process which may create slight hindrance to the market growth. A few side effects caused due to tumor ablation devices include strokes, esophageal injuries, chemical allergies and in very rare cases death.
Key players in the market are engaged in extending educational programs to various institutions for the promotion of their product which in turn help them to retain the market share. For instance, in February, 2017, University of Minnesota used the EDAP TMS product- Ablatherm Robotic HIFU for prostate ablation treatment. Such constructive use of the technology can tremendously favor the growth of tumor ablation devices market.
Key Takeaways of the Tumor Ablation Devices Market:
- The global tumor ablation devices market is expected to exhibit a CAGR of 10.2% over the forecast period (2017–2025). This is attributed to increase in various cancer cases globally, comforting patients to undergo ablation procedure as it likely to provide earlier recovery than any other techniques.
- Among technology, radiofrequency segment is expected to account for the largest share in the global tumor ablation devices market over the forecast period. This is attributed to its prominent application in solid tumor removal in the body. Moreover, this method is highly specific and targets at tissue level without damaging surrounding cells.
- Among Application, blood cancer segment propel the growth owing to increasing blood cancer rates worldwide and rising usage of tumor ablation devices to meet the rising demand for the treatment of blood cancer patients.
Some of the major players in the global tumor ablation devices market are Boston Scientific Corporation, Medtronic Plc, Intuitive Surgical, Inc., Johnson & Johnson, Inc., Smith & Nephew Plc., Angiodynamics, HealthTronics, Inc, SonaCare Medical, LLC., Galil Medical Inc., EDAP TMS S.A., Abbott Laboratories, NuVasive, Inc, and Alpinion Medical Systems Co., Ltd.
About Coherent Market Insights:
Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.
Coherent Market Insights
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