Tumor Ablation Market is anticipated to grow at 11.1% CAGR from 2019 to 2030
Market Industry Reports (MIR) has published a new report titled “Tumor Ablation - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2030.” According to the report, the global tumor Ablation is estimated to be over US$ 545.3 Mn in 2018. It is anticipated to grow at 11.1% CAGR from 2019 to 2030.
The significant growth of the market can be attributed to growing number of geriatric population followed by increasing number of cancer patients. Moreover, technological advancements in ablation devices in emerging countries, is anticipated to boost the growth of the tumor ablation market over the forecast period. However, high cost of tumor ablation treatment is likely to restrain the market to a certain extent.
According to World Health Organization, around 13% of the populace worldwide is aged 65 and above. The incidence of cancer is increasing with ageing. Around 60% of all cancer cases are diagnosed in patients aged 65 and above. Age related changes in the body are associated with an increased susceptibility to toxicity during chemotherapy and also, surgery is not offered to older patients mostly due to increased risk of surgical mortality. For the aged patients, who are not qualified for surgery and for whom chemotherapy is not a suitable option, there are technologies such as Radiofrequency Ablation (RFA), Microwave ablation (MWA) and Cryoablation to treat their cancer. This is expected to propel the growth of the tumor ablation market.
Browse key industry insights spread across 180 pages with market data tables & figures & charts from the report, Tumor Ablation Market is anticipated to grow at 11.1% CAGR from 2019 to 2030. in detail along with the table of contents:https://www.marketindustryreports.com/tumor-ablation-market/99
Tumor ablation has become more mainstream because of advancements in laparoscopic surgical approach and percutaneous ablation. Percutaneous image guided ablation is a safe, minimally invasive treatment for patients who have not achieved desired results by chemotherapy and radiotherapy. Techniques such as radiofrequency (RFA), microwave (MWA) and cryoablation ablation use thermal energy to heat or cool tumorous tissue at cytotoxic level. Moreover, Ultrasound guided high intensity focused ultrasound (HIFU) is a safe and feasible tumor ablation modality to manage solid tumors in difficult locations such as renal cancer, pancreatic cancer and metastatic bone tumors. It is a relatively new technique that has great potential for further development. This in turn aids the substantial growth of the tumor ablation market.
The treatment cost of tumor ablation (Surgical, Laparoscopic and percutaneous) is higher compared to other cancer treatment therapies. The most expensive percutaneous ablation technologies are, surgery, irreversible electroporation (IRE), cryoablation, microwave (MWA) and radiofrequency ablation. Tumor ablation, by using these techniques is a complex procedure and needs highly skilled and experienced people to perform the procedure. The involvement of multiple specialists, increase the cost of treatment are factors that are expected to restrain the growth of the tumor ablation market.
Asia Pacific is estimated to account for the highest CAGR in tumor ablation market over forecast period. Prevalence of various types of cancers, rising adoption of minimally invasive surgical procedures by patients for treatment, increasing research & development in healthcare sector and advancement in technologies of tumor ablation devices are factors which create lucrative opportunity for growth of the market in his region. Moreover, large population base and ongoing studies in China for the development of techniques used for treating cancer, using ablation are also propelling the growth of this market. For instance, thoracic surgical professors from the Faculty of Medicine of The Chinese University of Hong Kong (CUHK) successfully performed a non-invasive Bronchoscopic Microwave Ablation (BMA) in the hybrid operating room for lung cancer treatment.
The prominent players in the global tumor ablation market are Integra LifeSciences Corporation, Medtronic, , AngioDynamics, NeuWave Medical, Inc. (Johnson & Johnson Services, Inc.), Galil Medical Inc. (BTG International Ltd), Boston Scientific Corporation, Misonix, HealthTronics, Inc., Sonacare Medical and MERMAID MEDICAL A/S.
Market Industry Reports is a global leader in market measurement and advisory services. It is 100% subsidiary of Maniks Systems Pvt Ltd. The firm has always been at the forefront of innovation to address the worldwide industry trends and opportunities.
We offer our clients a unique depth of market intelligence in an actionable format to move their business forward. Our analysis incorporates the consumer study in more than 100 countries that provide a tactical approach to drive the sustained growth for the business. We continue to pioneer state-of threat approach in research & analysis that makes complex world simpler to stay ahead of the curve. By nurturing the perception of genius and optimized market intelligence we bring proficient contingency to our clients in the evolving world of technologies, megatrends and industry convergence. We empower and inspire Vanguards to fuel and shape their business to build and grow world-class consumer products.