Tumor Ablation Therapy Devices Global Market Report 2021: COVID 19 Growth And Change to 2030

New York, May 10, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Tumor Ablation Therapy Devices Global Market Report 2021: COVID 19 Growth And Change to 2030" - https://www.reportlinker.com/p06071086/?utm_source=GNW


The global tumor ablation therapy devices market is expected to grow from $0.502 billion in 2020 to $0.561 billion in 2021 at a compound annual growth rate (CAGR) of 11.8%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $0.915 billion in 2025 at a CAGR of 13%.

The tumor ablation therapy devices market consists of sales of tumor ablation devices and related services that are used in hospitals and oncology clinics. Tumor ablation is the technique used to extract the tumors using a needle, to insert it in the tumor organ using imaging techniques.

Product recalls of tumor ablation devices due to technical issues is expected to hinder the growth of the tumor ablation therapy devices market.The companies are retrieving their products from the market due to safety concerns.

For instance, in November 2018, Covidien Emprint Long Percutaneous Antenna with Thermosphere Technology, a tumor ablation device from Medtronic had recalled its devices due to disengagement of ceramic trocar tip of the Emprint ablation from the needle shaft post-ablation.Similarly, in June 2018, Accurian RF Ablation by Medtronic Sofamor Danek USA Inc was recalled due to the difficulty in insertion.

The product recalls cause a financial burden on the companies hindering the tumor ablation therapy devices market.

The tumor ablation therapy devices market covered in this report is segmented by technology into radiofrequency ablation; microwave ablation; cryoablation; irreversible electroporation ablation; others. It is also segmented by treatment into surgical; laparoscopic; percutaneous, by end user into hospitals; oncology clinics; others and by application into kidney cancer; liver cancer; breast cancer; lung cancer; prostate cancer; others.

In June 2019, Varian Medical Systems acquired Endocare for an undisclosed amount.This acquisition will help Varian Medical Systems strengthen its portfolio by adding cryoablation and microwave ablation therapies and embolic beads to its cancer care solutions portfolio.

Endocare is a leading provider of hardware and software solutions supporting cryoablation and microwave ablation.

The increasing prevalence of cancer is a key factor driving the growth of the tumor ablation therapy devices market.Cancer is considered to be the second major cause of death, with around 1 in 6 deaths due to cancer worldwide.

Tumor ablation is a minimally invasive procedure widely used in the treatment of lung, liver, kidney and bone tumors. According to the World Health Organization (WHO), 9.6 million deaths occurred in 2018 due to cancer and about 70% of deaths from cancer occur in low- and middle-income countries. The procedure is an effective method for patients who have failed chemotherapy or radiotherapy, thereby supporting the growth of the tumor ablation therapy devices market.

Major companies operating in the tumor ablation therapy devices are focusing on technology advancements for shorter procedures, increased safety, lower exposure to radiation, faster learning curves and improved outcomes.In 2018, J&J medicals have released a microwave ablation system called NEUWAVE, which is the first minimally invasive device to put electrodes into cancer cells and thereby increase the temperature around them for burning the cancer cells.

In June 2020, Boston Scientific has launched a technology called DirectSense technology, a tool used for monitoring the effect of radiofrequency (RF) now for cardiac procedures, which may be further employed for tumors.


Read the full report: https://www.reportlinker.com/p06071086/?utm_source=GNW

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