Tumor Ablation - Global Market Outlook (2018-2027)
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.
Tumor ablation is a minimally invasive image-guided technique used in the treatment of the tumors in the liver, kidney, soft tissue and bone. It ensures high efficacy of tumor treatment with minimal side effects by using heat, chemicals and low temperature. It uses an array of parallel alternating electrodes to deliver radiofrequency energy that heats the lining of the gastrointestinal tract, destroying the cancerous or infected tissue. Tumor ablation has primarily been used for the treatment of oesophagal squamous cell dysplasia, gastric antral vascular ectasia, radiation proctopathy, cholangiocarcinoma, and pancreatic neoplasia.
Based on the technology, radiofrequency ablation system (RFA) is expected to grow at a significant rate during the forecast period, due to its ease of treatment (as compared to open surgical procedure), its proven clinical efficacy and safety profile, and ongoing developments & commercialization of technologically advanced radiofrequency tumor ablation systems. Radiofrequency ablation uses high-energy radio waves for treatment, in which a thin, needle-like probe is inserted into the tumor. RFA is more effective in hepatocellular carcinoma (HCC), the most common primary liver neoplasia with a poor diagnosis.
By geography, North America is likely to have a huge demand owing to high prevalence and incidence of major types of cancer (such as liver, lung, kidney, and bone metastasis) in the region, rising inclination of patients towards minimally invasive procedures for cancer treatment, and increasing government funding for cancer research. The growing investments of many key players in this market have grown significantly in the United States. Besides, the focus on the development of products with innovative features and greater effectiveness has increased in recent times. As a result, there has been a rise in R&D funds.
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.
• Laparoscopic ablation
• Surgical ablation
• Percutaneous ablation
• Conventional ablation devices
• Automated/Robotic ablation
• Image Guidance Products
• Tumor Ablation Systems
• Catheters or Probes
• Liver cancer
• Prostate cancer
• Lung cancer
• Breast cancer
• Kidney cancer
• Bone Metastasis
• Brain Cancer
• Pancreatic Cancer
• Pain palliation
• ENT Cancer
End Users Covered:
• Oncology Clinics
• Research Institutes
• Cancer Specialty Centers
• Surgical and Ablation Centers
• Diagnostic Centres
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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- Covers Market data for the years 2017, 2018, 2019, 2023 and 2027
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