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Muni Kumar Meravath is a seasoned Healthcare Market Research Analyst with over 6 years of experience in the healthc.....
Tumor Ablation Market By Function, By Technology, By Application, By End User and Geography
Tumor Ablation Market By Function, By Technology, By Application, By End User and Geography
Tumor Ablation Market size was estimated at US$ 620.71 million in 2023 and is poised to grow at a CAGR of 13.2% from 2024-2030. Tumor ablation is a minimally invasive surgical method that enables treats solid tumors in which special probes are used to freeze or burn cancers without the usual surgery. The tumor ablation method is guided by the help of a CT scan, MRI Scan and ultrasound to locate and position the needle probe into the tumor which requires a tiny hole of 3mm diameter to introduce the probe. When the probe is within the cancer it is attached to a generator that burns and freezes the cancer. The most common cancers that are treated by this method are lung cancer, renal cancer, and liver cancer. Innovations in resources and technologies required in tumor ablation have provided ample opportunities for various pharma and electronics companies to work for the betterment of currently available technologies. Innovations such as high-intensity focused ultrasound (HIFU), irreversible electroporation and image-guided procedures are rising demand for adaptation of tumor ablation.
Study Period
2024-2030Base Year
2023CAGR
13.2%Largest Market
North AmericaFastest Growing Market
Asia Pacific
Increasing in a number of cancer cases and rise in geriatric population are the major factors which are attributing for the growth of tumour ablation market. As per the WHO statistics, cancer accounts for 13% of deaths globally every year, moreover, 70% increase in cancer incidences is anticipated over the next couple of decades. The global geriatric population is anticipated to nearly double from 12% to 22% from 2015 to 2022. Furthermore, increase in the number of hospitals, ablation and surgical centers, less procedural costs associated with radiofrequency ablation tumour and advanced technologies in ablation devices, improved healthcare expenditure, growing awareness, and increased government support are the few more factors which expected to boost the growth of tumour ablation market globally. However, stringent regulatory framework, prolonged time of approvals for product launching and cost containment measures are expected to hamper the growth of tumour ablation market.
Tumour Ablation Market is segmented into North America, Asia-Pacific, Europe, and the Middle East & Africa, Latin America. North America holds the largest share in tumour ablation market followed by Europe owing to the high incidence and prevalence of major cancers such as liver, kidney, lung and bone metastasis, increase in inclination towards minimally invasive procedures for treating cancer, the rise in government funds for cancer research. According to the reports of American Cancer Society, annual cancer incidences in U.S are 300.2 per 100,000 people and 296.6 cases per 100,000 people in Canada. Asia Pacific is anticipated to show significant growth during the foresee period owing to large population pool, growing economic developments in countries like China and India and improved healthcare infrastructure.
Latin America
Europe
Asia Pacific
Middle East
North America
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Report Benchmarks |
Details |
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Report Study Period |
2024-2030 |
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Market Size in 2023 |
US$ 620.71 million |
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Market CAGR |
13.2% |
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By Function |
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By Technology |
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By Application |
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By End User |
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The Tumor Ablation Market size was valued at US$ 620.71 million in 2023
The increasing prevalence of cancer globally has been a major driver for the tumor ablation market.
The tumor ablation market key players are: Angiodynamics, Inc. (U.S.) BTG International Ltd (UK) Healthtronics, Inc. (U.S.) Medtronic, Plc (U.S.) EDAP TMS S.A. (France) Mermaid Medical, Inc. (Denmark) Neuwave Medical, Inc. (U.S.) Sonacare Medical, LLC (U.S.) Mesonix, Inc. (U.S.)
Key Market Players
Author
Muni Kumar Meravath is a seasoned Healthcare Market Research Analyst with over 6 years of experience in the healthcare domain, encompassing pharmaceuticals, medical devices, and diagnostics. A graduate in Pharmacy, he possesses a strong foundation in the intricacies of the healthcare sector. He further enhanced his expertise by pursuing an MBA in Pharmaceuticals, equipping him with valuable business acumen. His analytical skills and market insights have contributed to strategic decision-making and enhanced market positioning for various healthcare organizations. Committed to driving innovation and excellence, Muni continues to seek opportunities to improve healthcare delivery through data-driven insights.