According to Stratistics MRC, the “Global Tumor Ablation Market” is accounted for $394.66 million in 2018 and is expected to reach $1,253.33 million by 2027 growing at a CAGR of 13.7% during the forecast period. Some of the key factors influencing the market growth include technological advancements in the thermal ablation techniques, growing geriatric population across the world, increasing incidence of cancer and sprouting number of hospitals, surgical, and ablation centres. However, the strict regulatory process is restraining market growth.
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Tumor ablation is an image-guided the technology used to eliminate the tumor with the assistance of needle, putting in the tumor organ utilizing this technology. The treatment can be performed utilizing different procedures like microwave ablation, radiofrequency ablation, cryoablation, and different techniques. Various cancers including liver tumor, lung cancer, renal tumor, prostate cancer, and other tumors can be taken care of with this technology.
Driver: Growing geriatric population across the world.
It is reported that over 70% of cancer cases happened in individuals aged (50-older). The number is expected to increment relatively with rising geriatric population. Ageing population comprises primary objective population for noninvasive ablation procedure as body’s biological functions get compromised during normal aging. Accordingly, the rapidly expanding aging population is expected to boost the demand for tumor ablation techniques during the forecast period.
Opportunity: Technological advancements in ablation devices.
Developments in technology to upgrade precision, portability, and cost-adequacy are the factors supporting manufactures to continuously develop advanced devices. Image-guided and cryoablation are significant instances of these technologies. Use of cooled radiofrequency denervation procedure with inside cooled radiofrequency probes to extend the size of the lesion is one of the rising technologies which are likely to play important role in market expansion. This process empowers complete denervation of the sacroiliac joint which helps in pain management.
By treatment, the surgical ablation segment is anticipated to hold considerable market share during the forecast period due to rising prevalence of liver and breast cancer, and inaccessibility of advanced tumor ablation techniques for these specific organs.
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By geography, Asia Pacific region is expected to grow at the significant market share during the forecast period because of increasing patient population and high presence of major healthcare providers in rapidly developing economies, improving of healthcare utilization.
Some of the key players in global tumor ablation market are INTIO Inc., Medtronic PLC, Galil Medical, Inc., Sonacare Medical, AngioDynamics, Inc., NeuWave Medical, EDAP TMS S.A., Healthtronics, Inc., Ethicon, Inc., Koninklijke Philips N.V, Misonix, Inc., IceCure Medical Ltd., Boston Scientific Corporation, ERBE Elektromedizin GmbH, CooperSurgical Inc., Mermaid Medical, Endocare Inc., and B V M Meditech Private Limited.
NeuWave Medical: In May 2018, NeuWave Medical entered into an agreement with Auris Health, Inc. The agreement calls for co-development of integrated systems for robotic control, navigation, and application of microwave ablation delivered via bronchoscopes. A bronchoscope, equipped with a small camera and an accessory channel, allows tools to enter the lungs through the mouth. The co-development agreement also covers technology optimization and procedure development.
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Medtronic PLC: In Jan 2018, Medtronic PLC partnered with Royal Philipsto developed and commercialized the Lung GPS (TM) Patient Management Platform. The comprehensive patient and data management platform is designed to streamline the management of lung nodule patients from identification through diagnosis, treatment, and long-term survivorship.
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