Global Tumor Ablation Market is Growing at a Significant Rate in the Forecast Period 2017-2024

Global Tumor Ablation Market is expected to reach USD 3,495.0 million by 2024 from USD 1,669.7 million in 2016, at a CAGR of 9.8% in the forecast period 2017 to 2024.  The new market report contains data for historic years 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024.

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Segmentation: Global Tumor Ablation Market

By Type (Tumor Ablation Systems {Radio Frequency Ablation System, Microwave Ablation System, Cryoablation, High Intensity Focused Ultrasound , Laser Ablation System}, Image Guidance Products, Accessories), By Cancer Type (Liver Cancer, Brain Cancer, Lung Cancer, Bone Cancer, Kidney Cancer, Pancreatic Cancer, Breast Cancer, Others), By Mode of Treatment (Surgical, Laparoscopic, Percutaneous), By End User (Hospitals, Oncology Clinics, Others), By Region (North America, Europe, Asia Pacific, South America, Middle East and Africa)

Drivers: Global Tumor Ablation Market

The major factors contributing to the growth of the market includes incidences of cancer patients, increase in the number of hospitals, ablation and surgical centers, technological advancement in ablation devices. These factors increase the demand for devices such as tumor ablation systems and image guidance products.

INCREASING PREVALENCE OF CANCER PATIENTS

Tumor ablation market is growing due to increasing prevalence of cancer patients. Cancer is caused due to the alteration of normal cells into tumor cells which occurs in a multistage process that usually develops from a pre-cancerous abrasion to a malignant tumor. According to American Cancer Society, in 2017, approximately 1,688,780 new cancer cases were diagnosed and 600,920 cancer deaths were reported in the US. Cancer is caused due to numerous reasons including consumption of use of alcohol and tobacco, unhealthy diet, and physical inactivity. Tumor ablation treatment is done in patients with a few small tumors and when surgery is not a good option. Since tumor ablations is a highly efficient treatment for cancer with minimal risk of side-effects, its popularity has increased among doctors a as well as patients, which, as a result, has been driving the market growth.

TECHNOLOGICAL ADVANCEMENTS IN ABLATION DEVICES

With the increase in the cancer prevalence and incidence, it has become vital for companies to manufacture smart and advanced technologies, which offer accurate and proper care to cancer patients and their health. A majority of companies operating in this market are involved in the research and development to manufacture and launch new products that can effectively cater to the needs of patients and enable effective treatment. This is anticipated to generate growth opportunities for tumor ablation companies in the market. In July 2017, EDAP TMS received CMS approval of new reimbursement code for HIFU ablation of the prostate tissue. This approval is significant for the company making a huge success in usage of this ablation technology. In May 2017, Abbott received CE Mark approval for TactiCath Contact Force Ablation Catheter, Sensor Enabled for advance the treatment of atrial fibrillation.

RISING NUMBER OF HOSPITALS, SURGICAL, AND ABLATION CENTERS

Another major factor contributing to the growth of the tumor ablation market includes rising number of hospitals, surgical, and ablation centers that are required for the improving cancer patient’s facilities. Furthermore, government support in the form of funding also drives the growth of this market.For instance, Cancer Treatment Centers of America (CTCA) is committed to altering a combination of cancer treatments to the needs of each individual patient. The treatment in the center includes lung, breast, prostate, ovarian, colorectal, throat, melanoma, cervical, pancreatic, lymphomas and others. According to National Cancer Institute, there are presently 69 NCI-Designated Cancer Centers, which is located in 35 states and the District of Columbia that is used for learning and controlling cancer.

Major Players: Global Tumor Ablation Market

Some of the major players operating in this market are:-

  • Galil Medical Inc.,
  • Perseon Corporation,
  • NeuWave Medical Inc.,
  • Koninklijke Philips N.V.,
  • INTIO Inc.,
  • Mermaid Medical A/S,
  • SonaCare Medical,
  • LLC,
  • DFINE Inc.,
  • Misonix,
  • BVM Medical Limited,
  • Angio Dynamics,
  • COMSOL Inc,
  • Medtronic,
  • Boston Scientific Corporation,
  • Abbott EDAP TMS,
  • and Health Tronics Inc.,