Tumor Ablation Market is anticipated to grow in double digit during the forecast period, 2019 to 2030
Market Industry Reports (MIR) has published a new report titled “Tumor Ablation Market -Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2030.” According to the report, the tumor ablation market is estimated to be over US$ 370 million in 2018. It is anticipated to grow in double digit during the forecast period, 2019 to 2030.
The growth of the tumor ablation market is driven by several factors such as, increase in use of minimally invasive technique for treatment of the tumor. The tumor ablation market is anticipated to grow in coming years owing to the advantages it has over other conventional and traditional therapies.
Prominent players in the market are adopting strategies like, mergers and joint collaborations to acquire a dominant position in the market. For instance in 2013 Boston Scientific Corporation acquired C.R Brad, Inc. Boston Scientific Corporation, in October 2106 acquired Cosman Medical Inc. (U.S.), this enabled the firm to strengthen its technological capabilities and expand their product sales in the tumor ablation market globally. SonaCare Medical, LLC in February 2015, launched Sonalink, a remote patient monitoring platform which can be used during High Intensity Focused Ultrasound (HIFU).
Browse key industry insights spread across 150 pages with market data tables & figures & charts from the report, Tumor Ablation Market is anticipated to grow in double digit during the forecast period, 2019 to 2030. in detail along with the table of contents:https://www.marketindustryreports.com/99/tumor-ablation-market
Rise in prevalence of cancer globally is increasing the demand for types of treatment which have minimal side effects and lower pain during the surgery. According to reports published by WHO, around 13% of the world population suffer from different types of cancer. Hepatic tumors can be treated using an advanced technique, a fusion imaging technique used in treatment with Radiofrequency ablation. This will enables more accurate determination and targeting of hepatic tumors, increasing effectiveness of radiofrequency ablation for hepatic tumors. The fusion imaging technique can also help in monitoring the procedures and in determining the margin appropriateness of the ablation, as it provides location of the ablation.
The demand for minimal invasive surgeries is anticipated to grow globally in the following years, owing to its advantages such as, speedy recovery compared to other conventional methods, minimal complications, lesser pain during surgery and reduced hospitalization time. Radiofrequency ablation, Cryoablation and microwave ablation technologies are increasing owing to acceptance of patients and surgeons for minimal invasive procedures. Radiofrequency ablation is dominating the market of tumor ablation due to, factors such as being able to treat target tissue without damaging the neighboring healthy cells. North America held the largest share of the tumor ablation market globally, owing to factors such as, technological advancements in tumor ablation, advantages of radiofrequency, cryoablation and microwave ablation over traditional and conventional technologies.
Stringent regulatory guidelines for launching of new products play a role in hindering the growth of the tumor ablation market. The extended approval time, higher cost involved by certain governments, unfavorable regulatory policies are also some of the factors that hinder the growth of the market. Moreover, side effects related to ablation treatment which includes bleeding in the chest cavity or abdominal pain or abdominal bleeding, infection in the liver are the factors hampering the growth of the market to certain extent.
North America held the largest share of the tumor ablation market, followed by Europe, APAC and ROW. The rising prevalence of cancer in North America is one of the major diver propelling the growth of tumor ablation market. Moreover, North America has easy reimbursement policies and availability of quality health related to cancer treatment. Asia Pacific market is likely to witness highest CAGR during the forecast period. Owing to, rapid urbanization and favorable economic development in the region.
The prominent players in the tumor ablation market are. AngioDynamics, Medtronic, Boston Scientific Corporation, NeuWave Medical, Inc., HealthTronics, Inc., Galil Medical Inc., Misonix, Sonacare Medical, MERMAID MEDICAL A/S and Integra LifeSciences Corporation among others.
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