Tumor Ablation Market Analysis By Technology (Cryoablation, Microwave, Radiofrequency), By Treatment (Percutaneous Procedures, Surgical Procedures, Laparoscopic Procedures), By Application, By Region And Segment Forecasts Till 2025
Scope of the Report:
The global tumor ablation market size was valued at USD 750.4 Million in 2015 and is expected to reach USD 2,129 Million by 2025 growing at a CAGR of over 11.2% over the forecast period. The market growth can be attributed to increase in cancer cases globally over the forecast period. Increased procedural safety profile, technological advancements in the field of healthcare, and growing number of public-private initiatives is further expected to spur the market growth.
Furthermore, rising demand of minimal invasive tumor ablation techniques, & funding to support ongoing research activities related to tumor ablation are also responsible for the surge in tumor ablation market. According to the World Health Organization (WHO), about 13% of the people suffer from cancer across the globe. Additionally, it is also estimated that there will be a 70% rise in cancer cases and more than 100 cancer types will require tumor ablation, thereby boosting the market growth over the forecast period.
Get Sample report @: https://www.futuregenicreports.com/Request-Sample/100068
The geriatric population is also expected to double in numbers and the global population will also have anticipated to increase from 12% to 22% from 2015 to 2050, based on a WHO report. The demand for minimally invasive surgeries (MIS) is rising with the increasing geriatric population since, patients experience lesser trauma in MIS and recover faster as compared to invasive procedures. Minimally invasive surgeries such as radiofrequency ablations is highly demanded and hence, is responsible for the market growth. Additionally, government and various healthcare agencies are actively creating awareness about various cancer types, accentuating the usage of tumor ablation therapy.
Furthermore, High Intensity Focused Ultrasound (HIFU), laser ablation and irreversible electroporation are few techniques which are projected to grow clinically, simultaneously propelling the tumor ablation industry. The increased per capita income in developed as well as emerging nations is encouraging people to undergo advanced therapy for tumors, thus further assisting market growth. Although, cost containment adopted by various governments and unfavorable regulatory policies may act as a constraint to the industry growth.
Market Segments:
The tumor ablation market is segmented on the basis of technology, treatment, application and region. Based on technology, the market has been segmented into cryoablation, microwave, radiofrequency and other technologies which include HIFU, radio iodine and laser ablation. In 2015, radiofrequency tumor ablation technology segment held the maximum share in the tumor ablation market. Radiofrequency ablation is increasingly utilized in solid tumor excision owing to the enhanced efficiency and specificity towards the method, thereby contributing majorly to the market growth.
Microwave ablation technology is anticipated to witness a substantial growth over the forecast period. The segment’s growth can be attributed to the benefits associated with the technology such as consistency in high temperature, optimal heating of the cystic mass, larger tumor ablation volume, reduced procedural pain and lesser ablation time. Improved efficacy with minimal complications and reduced hospital stay are further expected to drive growth of the segment.
On the basis of treatment, the market is segmented into percutaneous procedures, surgical procedures and laparoscopic procedures. Percutaneous procedures are expected to exhibit massive growth over the forecast period owing to the rising demand for minimally invasive surgeries which offers faster recovery, less scarring and more safety. However, increased complications, post-surgical discomfort, and gradual recovery are a few restrains holding the market back.
Percutaneous ablation is anticipated to witness enormous growth due to the simple and technologically advanced procedure used to treat the tumors. The procedure terminates the tumor in target tissues quickly and saves time, allowing faster recovery and ultimately leads to growth of the segment.
The application segment is segregated into liver cancer, breast cancer, lung cancer, prostate cancer, kidney cancer, bone metastasis and ENT cancer. Increasing cases of cancer is expected to assist the growth of tumor ablation therapy industry. Lung cancer is anticipated to grow with the highest CAGR over the forecast period. Increasing number of cases of lung cancer, particularly Non-Small Cell Lung Cancer (NSCLC) utilizes radiofrequency ablation technology leading to the major application.
Obtain Report Details: https://www.xpodenceresearch.com/Reports/Tumor-Ablation-Market
By Regional Analysis:
North America region dominated the global tumor ablation market in 2015. Factors contributing to the regional growth includes availability of reimbursement, government support for quality healthcare and increasing prevalence of cancers in the U.S. and Canada, and high purchasing power parity. For instance, Patient Protection and Affordable Care Act (PPACA), also known as ObamaCare, promotes quality and affordability of health insurance and reduces the cost of healthcare for individual and government. Such government initiatives help in improving the overall healthcare system, thus boosting growth of tumor ablation market.
Europe regional market is accounted for a substantial share in the global tumor ablation market which can be attributed to Europe’s publically funded healthcare system. Growing geriatric population base coupled with the support of government policies aiding in controlling cancer lead to substantial industry growth of the region.
Furthermore, Asia Pacific region is also anticipated to witness a lucrative growth over the forecast period owing to improving healthcare infrastructure with various government initiatives aiding market growth. Economically developing countries such as India and China are expected to aid the market growth owing to a huge population base.
By Key Players:
Key players of tumor ablation market inlcude Covidien, HealthTronics, Galil Medical Inc., Angiodynamics, Misonix Inc., Medtronic Plc., SonaCare Medical, Boston Scientific Corporation, Neuwave Medical Inc. and EDAP TMS S.A. Key players along with certain new entrants in the market, namely-- Covidien, Plc, Medtronic, Inc., SonaCare Medical, LLC and NeuWave Medical, Inc. are investing heavily to strengthen the R&D capabilities for developing the novel tumor ablation products and to expand the clinical application profile of their existing tumor ablation products.
About Us:
Xpodence Research has the most extensive collection of market research reports of many categories. Xpodence Research provides the best market research solution for every industry by publishing the best possible results of great market research firms worldwide. For every particular problem, there’s a particular solution, so according to the customer needs, we provide the best possible results to them from different market research organization, whether it’s a Custom Research or Syndicated Research reports because the product that wins is the one that bridges customers to the future, not the one that requires a giant leap.
Every organization, whether it is related to Pharmaceuticals, Technology, Eatables, Consumable Goods and many more demands a market research results so that they can take important decisions for more productivity and better output in this swift world. Xpodence Research gives the best possible outcome, perfect forecast, analysis and insights of market research in the form of report which is beneficial for various organizations and also to the manufacturing companies in taking the best decisions for quality production.
Contact Us:
Xpodence Research
USA Office
244, Madison Avenue
New York City, NY - 10016
United States
Toll Free +1- 844-445-2861
Email : sales@xpodenceresearch.com