New York, May 24, 2023 (GLOBE NEWSWIRE) -- The tumor ablation market size reached US$ 1,333 Million in 2022. Looking forward, Market.us expects the market to reach US$ 4,389 Million by 2032, exhibiting a growth rate (CAGR) of 13% during 2023-2032.
Tumor ablation is a procedure used to treat malignancies in the bones, liver, kidneys, and lungs. It is a minimally invasive procedure. The device causes severe cellular necrosis because it delivers the heat directly to the target cells. With the help of precise computer tomography, the heat of 100oC is delivered to the benign tumor to kill it, without removing it from the body.
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Key Takeaway
- By Technology, the radiofrequency segment generated a revenue share of 37% in 2022.
- By Mode of Treatment, the surgical ablation segment has dominated the market and accounted for the 42% of the revenue share.
- By Application, liver cancer dominated the market with 22% of the revenue share.
- By End-User, the hospital's segment dominated the global tumor ablation market.
- In 2022, North America dominated the market with the highest revenue share of 37%.
- Europe held a significant revenue share in 2022.
- Asia-Pacific is anticipated to experience the highest rate of growth from 2023-2032.
The rising incidence of cancer and strong demand for minimally invasive treatment are the major factors that contribute to the growth of the global tumor ablation market. As per the report of WHO, by 2032, around the globe, 10-11 million new cases of cancer will be diagnosed annually. It is expected that, as compared to the developed countries, the under-developed countries will record an increase in the number of new cases of cancer. This will lead to propel the growth of the market.
Factors affecting the growth of the tumor ablation market
There are several factors that can affect the growth of the tumor ablation market. Some of these factors include:
- Increasing Demand for Minimally Invasive Procedure: The treatments to remove the tumor is painful, that’s why peoples are adopting less painful procedure.
- Technological Advancement in Ablation Devices: Various technological advancements in ablation devices will lead to the growth of the market.
- Growing Number of Geriatric Population: Increasing geriatric population will propel the growth of the market.
- Prevalence of Sedentary Lifestyles: The majority of the population is adopting an unhealthy and sedentary lifestyle which may cause the growth of cancer.
- Implementation of Favorable Government Policies for Cancer Awareness: The implementation of favorable government policies for cancer awareness among the people may increase the growth of the tumor ablation market.
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Top Trends in Global Tumor Ablation Market
The demand for effective treatments is increasing with the increasing rate of cancer. Around the globe, people are being diagnosed with different types of malignant cancers, such as blood, lung, liver, and breast cancers. As per the reports of the National Cancer Institutes, in the United States, in 2018, around 1,735,350 new cases and 609,640 cancer-related deaths were recorded. The main causes of the increasing incidences of cancer globally are alcohol drinking, cigarette use, and others. Also, cancer and diabetes are significant among the geriatric population, and these populations are vulnerable to issues from surgeries or chemotherapy procedures as they have weak immune systems. The elderly population is the main target for the minimally invasive ablation procedures. Thus, the increasing geriatric population is expected to increase the demand for tumor ablation devices.
Market Growth
The rising significance of cancer has increased the demand for efficient, minimally invasive treatment techniques. This technique targets only the tumor cells. A few prominent factors which are responsible for the growth of the market are the adoption of sedentary lifestyles, a gradual shift towards less invasive surgical procedures, and the rising significance of cancer. Along with this, there are several advantages offered by the tumor ablation devices, such as less pain with a reduction in blood loss, minimal incision, rapid recovery, and shorter hospital stays are estimated to boost the market for tumor ablation devices in the forecast period.
Regional Analysis
The market for tumor ablation devices was dominated by North America, with the highest revenue share of 37%. The rising incidence of cancer, government support for high-quality healthcare, high purchasing power parity, and government support for high-quality healthcare are the major factors that are responsible for the expansion of the market in this region.
Europe held a significant share of the market. Moreover, the expanding geriatric population and government support for cancer control are expected to boost the growth of the market in this region. APAC has significant healthcare providers and increasing numbers of patients in the fastest-rising economies like India and China. It is estimated to drive the market over the forecast period.
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Scope of Report
| Report Attribute | Details |
| Market Value (2022) | US$ 1,333 million |
| Market Size (2032) | US$ 4,389 million |
| CAGR (from 2023 to 2032) | 13% |
| North America Revenue Share | 37% |
| Historic Period | 2016 to 2022 |
| Base Year | 2022 |
| Forecast Year | 2023 to 2032 |
Market Drivers
The increasing innovative technological advancement in ablation devices is the major factor that drives the growth of the market. With the introduction of laser and thermal ablation, High-intensity Focused Ultrasound, and irreversible electroporation, the acceptance of tumor ablation techniques has enhanced. The market will expand at a faster rate if patients and surgeons continue to adopt minimally invasive procedures. These procedures have various advantages, such as patient comfort, faster recovery rate, shorter turn-around times, and others. Additionally, it is expected that the market will grow faster as the occurrence of cancer increases. The market is estimated to drive due to the increasing geriatric population and the implementation of favorable government policies for cancer awareness and treatment methods.
Market Restraints
Due to the side effects of ablation treatment, like bleeding in the abdomen, liver infection, abdominal pain, and other factors, the growth of the market may get hampered. Also, because of the lack of awareness of the people about cancer, the high cost of the treatment, and stringent government regulations, the tumor ablation market is expected to be constrained. Additionally, due to the COVID-19 outbreak, the supply chain was affected severely, which hindered the growth of the market.
Market Opportunities
The increasing awareness about the ablation procedures was providing beneficial opportunities for the growth of the tumor ablation market. People prefer ablation procedures over surgical and conventional procedures, which will boost the growth of the market. Additionally, the tumor ablation market will expand as a result of emerging markets and an increased number of new products.
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Report Segmentation of the Tumor Ablation Market
Technology Insight
Radiofrequency tumor ablation dominated the market with a revenue share of 37%. Owing to its benefits like effectiveness and particularity in the strong growth removal strategies of tumors in the kidneys and liver. It can also be used to address different tumors simultaneously by placing multiple electrodes at various locations in the organ; it enhances procedural efficacy. The increase in the rate of adoption of advanced tumor ablation methods is expected to increase as a result of it.
Mode of Treatment
The surgical ablation sector accounted for 42% of the revenue share of the market. The factors such as the increased significance of breast and liver cancer and the lack of advanced tumor ablation methods are estimated to fuel the segmental growth. Lucrative growth is estimated in the percutaneous ablation sector over the forecast period. These treatment procedures are safer, fasten the recovery, and leave fewer scars. Also, the segment demand is increasing due to the factors such as short surgical times, cost-effectiveness, and patient comfort. Furthermore, it is estimated that the system's higher complications will limit its growth, mostly in hospitals with a lack of skilled professionals.
Application Insight
The liver cancer segment dominates the market with a revenue share of above 22%, in 2022. The increasing significance of bile duct cancer and primary liver cancer is responsible for the growth of the segment. The market is divided into liver cancer, breast cancer, lung cancer, prostate cancer, and others based on applications. Market expansion is estimated to be increased by the availability of advanced treatments and increasing cancer rates.
End-User Insight
By end user, the market has been segmented into hospitals, specialty clinics, ambulatory surgery centers, and others. With the presence of well-equipped and experienced professionals, the hospital segment is expected to be the fastest-growing segment during the forecast period. The hospital segment dominated the market in 2022.
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Market Segmentation
By Technology
- Microwave Ablation
- Radiofrequency Ablation
- Irreversible Electroporation Ablation
- Cryoablation
- Other Ablation Technologies
By Mode of Treatment
- Laparoscopic Ablation
- Surgical Ablation
- Percutaneous Ablation
By Application
- Liver Cancer
- Kidney Cancer
- Lung Cancer
- Breast Cancer
- Prostate Cancer
- Other Applications
By End-User
- Specialty Clinics
- Ambulatory Surgery Centers
- Hospitals
- Other End-Users
By Geography
- North America
- The US
- Canada
- Mexico
- Western Europe
- Germany
- France
- The UK
- Spain
- Italy
- Portugal
- Ireland
- Austria
- Switzerland
- Benelux
- Nordic
- Rest of Western Europe
- Eastern Europe
- Russia
- Poland
- The Czech Republic
- Greece
- Rest of Eastern Europe
- APAC
- China
- Japan
- South Korea
- India
- Australia & New Zealand
- Indonesia
- Malaysia
- Philippines
- Singapore
- Thailand
- Vietnam
- Rest of APAC
- Latin America
- Brazil
- Colombia
- Chile
- Argentina
- Costa Rica
- Rest of Latin America
- Middle East & Africa
- Algeria
- Egypt
- Israel
- Kuwait
- Nigeria
- Saudi Arabia
- South Africa
- Turkey
- United Arab Emirates
- Rest of MEA
Competitive Landscape
Major companies are making relevant investments in research and development to gain a prominent share of the global tumor ablation market. In August 2019, Boston Scientific Corporation got permission from Health Canada for its innovative cryoablation system known as ICEfxTM. It is an efficient alternative to the present cryoablation systems.
Market Key Players:
- Angiodynamics
- Medtronic Plc
- Boston Scientific Corporation
- Galil Medical Inc.
- HealthTronics, Inc.
- BVM Medical Limited
- COMSOL INC.
- Ethicon, Inc.
- Integra LifeSciences
- BTG International Ltd
- Misonix, Inc.
- Mermaid Medical
- Theraclion
- HS Hospital Service S.p.A
- Other Key Players.
Recent Development of the Tumor Ablation Market
- In June 2022, IceCure Medical Ltd. filed a regulatory application for the approval of ProSense, an advanced liquid-nitrogen-based cryoablation therapy for the treatment of benign and cancerous tumors by freezing. The primary focus areas are kidney, bone, breast, and lung cancer.
- In September 2021, Francis Medical, Inc., a privately held medical device company that is working on a novel and exclusive water vapor ablation therapy for the treatment of kidney, prostate, and bladder cancer, closed its USD 55 million Series B equity financing.
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