Global tumor ablation market is anticipated to grow at a considerable CAGR of 12.7% during the forecast period (2024-2031). The growth of the tumor ablation market is significantly influenced by the increase in the incidence of cancer around the world which results in increased use of efficient therapies such as tumor ablation procedures that are less invasive as compared to surgical procedures to address the solid cancerous tissues. Surgeons’ and patients’ preference for less invasive procedures that least harm tissue, cause less blood loss, and require shorter hospital stays and faster recovery times drives the market growth.
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Favorable reimbursement policies and insurance coverage for tumor ablation procedures make these treatments accessible to more people with manageable out-of-pocket costs. Technological innovations because of increased research in aspects including accuracy, modularity, and affordability of ablation devices such as the incorporation of internally cooled radiofrequency probes are also a key driver to this market bolstered by the increasing preferences for minimally invasive surgeries owing to its benefits.
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Recent Developments
- In March 2023, AngioDynamics partnered with Minimax Medical to distribute products in international markets. The collaboration will also entail exporting Minimax Medical’s leading Radiofrequency Ablation System for tumors/nodules globally.
- In June 2022, IceCure Medical Ltd. submitted the ProSense application to Anvisa, the Brazilian Health Regulatory Agency for approval of liquid-nitrogen-based cryoablation therapy for tumors by freezing, areas of specialism including breast, kidney, bone, and lung cancer.
Market Coverage
- The market number available for – 2023-2031
- Base year- 2023
- Forecast period- 2024-2031
- Segment Covered-
o By Technology
o By Application
o By End-Users
- Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
- Competitive Landscape- Boston Scientific Corp., Integra Lifesciences, Medtronic Plc, Smith & Nephew plc, and Stryker Corp. among 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?
- 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 (Kidney Cancer)
By End-User
- Hospitals
- Surgical Clinics
- Research Institutions
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