New York – United States
Tumor Ablation Market is fragmented in nature, as it consists of many global players such as Boston Scientific Corporation (U.S.), Medtronic (U.S.), Olympus (Germany), Stryker (U.S.), and Biotronik (Germany) among others. The presence of these companies produces competitive prices for tumor ablation products across the region. Due to the presence of these players at regional and international levels, suppliers and manufacturers offer products with different specifications and characteristics in all budgets
Moreover, the rising prevalence of cancer drives the demand for tumor ablation procedures as an effective and minimally invasive treatment option. The need to address the growing incidence of cancer, coupled with advancements in imaging technologies and the preference for less invasive procedures, fuels the growth of the tumor ablation market.
Data Bridge Market Research analyzes that the global tumor ablation market is expected to reach the value of USD 4,225.84 million by 2030, at a CAGR of 13.8% during the forecast period. This market report also covers pricing analysis and technological advancements in depth.
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Market Overview:
The market includes a wide range of ablation techniques, such as radiofrequency ablation (RFA), microwave ablation (MWA), cryoablation, high-intensity focused ultrasound (HIFU), and laser ablation, among others. These techniques utilize different energy sources to deliver controlled heat, cold, or sound waves to destroy tumor cells, leading to their death and subsequent elimination by the body’s immune system.
Major Players:
Data Bridge Market Research recognizes the following companies as the market players in global tumor ablation market are Boston Scientific Corporation (U.S.), Medtronic (U.S.), Olympus (Germany), Stryker (U.S.), Biotronik.(Germany), Merit Medical Systems.(Utah), HealthTronics, Inc.(U.S.), Insightec (Israel), AngioDynamics (New York), Integra LifeSciences (U.S.), Bioventus LLC.(U.S.), Ethicon Inc.(U.S.), EDAP TMS (Auvergne-Rhône-Alpes), Sonablate Corp.(U.S.), BVM Medical (England), Terumo Europe NV (Belgium), and IceCure Medical (Israel) among others.
Market Developments:
- In June 2023, Merit Medical Systems. acquired Bluegrass Vascular’s Surfacer Inside-Out Access Catheter System. This will help the company to generate more revenues
- In June 2023, Sonablate Corp. was recognized as one of CEO View’s top 10 healthcare companies of the year 2023. This will help the company to establish its presence in the global tumor ablation market
- In November 2022, Terumo Europe NV announced that it welcomed the positive guidance released by the National Institute for Health and Care Excellence (NICE), mentioning that microwave ablation can be used provided standard arrangements are in place for clinical governance, consent, and audit. This is positive news as it broadens access to minimally invasive alternatives to surgery available to patients with symptomatic benign thyroid nodules
- In July 2022, EDAP TMS announced Focal One HIFU reimbursement raised to urology APC Level 6 under CMS Outpatient Prospective Payment System (OPPS) Proposed Rule for CY23. This helped the company to establish its global presence
- In July 2021, Bioventus LLC. and Misonix announced definitive agreement for Bioventus to acquire Misonix. This helped the company to strengthen its product portfolio
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Segment Analysis:
- The global tumor ablation market is segmented into five notable segments such as type, types of treatment, cancer type, end users, and distribution channel.
- Based on type, the global tumor ablation market is segmented into thermal ablation, and chemical ablation
- In 2023, the thermal ablation segment is expected to dominate the global tumor ablation market
In 2023, the thermal ablation segment is expected to dominate the market with a market share of 78.12% and growing with a CAGR of 13.9% in the forecast period of 2023 to 2030. It is expected to dominate the market due to its increasing demand among the population.
- Based on types of treatment, the market is segmented into percutaneous, laparoscopy, and surgical. In 2023, the percutaneous segment is expected to dominate the market with a market share of 56.32%, growing with a CAGR of 14.1% in the forecast period of 2023 to 2030
- Based on cancer type, the market is segmented into breast cancer, lung cancer, prostate cancer, liver cancer, kidney cancer, bone cancer, and others. In 2023, the breast cancer segment is expected to dominate the market with a market share of 33.50%, growing with a CAGR of 15.0% in the forecast period of 2023 to 2030
- Based on end users the market is segmented into hospitals, oncology centers, and others. In 2023, the hospitals segment is expected to dominate the market with a market share of 53.94%, growing with a CAGR of 13.9% in the forecast period of 2023 to 2030
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