The global tumor ablation market is anticipated to grow at a considerable CAGR of 12.7% during the forecast period (2022-2028). The growth of the market is largely driven by factors such as the increased prevalence of cancer, rising consumption of smoking, Increasing Demand for Minimally Invasive Surgery, and Increasing Healthcare Expenditure. For instance, according to The National Health Expenditure Accounts (NHEA), the US health care spending grew 9.7% in 2020, reaching $4.1 trillion, and the share of the health spending on the nation’s Gross Domestic Products accounted for 19.7%. Owing to the rise in the health expenditure by the authority, and increasing adoption of minimally invasive procedures in healthcare centers, fueled the growth of the global tumor ablation market.
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The key companies operating in the industry are highly inclined towards the adoption of different growth strategies including capacity expansion, partnerships, mergers and acquisitions, geographical expansion, new product launches, and product innovation to remain competitive in the marketplace this is anticipated to positively impact significant market growth. For instance, in February 2022, Clinical Laserthermia Systems AB announced that it has netered into an agreemt with Skane University Hoapital to spanser a lcincal trial evaluating the safety and feasibility of magnetic resonance (MR) guided laser interstitial thermal therapy (MRgLITT) for ablation of glioblastoma lesions, using the CLS TRANBERg Thermal Therapy System with Thermoguide™ Workstation in MR guided LITT treatment. Moreover, in September 2020 Boston Scientific Corporation announced it has signed an investment agreement with an exclusive option to acquire Farapulse, Inc., to develop Ablation therapy. It is the process of delivering energy to areas of the heart muscle responsible for creating an abnormal heart rhythm. This technology is designed for physicians to precisely ablate tissue and, in turn, spare nearby tissue from unintentional ablation.
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Market Coverage
- The market number available for – 2021-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered-
o By Technology
o By Application
o By End User
- Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
- Competitive Landscape- Boston Scientific Corp., BTG plc, BVM Medical Ltd., Erbe Elektromedizin GmbH, Healthtronics, Inc., Hologic Inc., and others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How COVID-19 impacted the market?
o Deviation from the pre-COVID-19 forecast
o Most affected region and segment
- Who is the leader in the market?
- How are players addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Tumor Ablation Market Report Segment
By Technology
- Radio Frequency Ablation
- Microwave Ablation
- Cryoablation
- Percutaneous Ethanol Ablation
By Application
- Liver Cancer
- Lung Cancer
- Breast Cancer
- Prostate Cancer
- Others
By End User
- Hospitals
- Surgical Clinics
- Research Institutions
