Tumor Ablation Market 2024 – Market Size & Segments Analysis, Industry Trends, Manufacturers Analysis, Opportunities and Forecast 2030

The global market value of the tumor ablation market was valued at USD 1.6 billion in 2022, and a CAGR of 10.1% is expected during the forecast period. The increasing number of cancer patients all over the world and the demand for tumor ablation devices by doctors are driving the growth of the market significantly. The economic burden and rise in demand for minimally invasive procedures to remove tumors are driving the growth of the market significantly.

Reduced morbidity with these procedures is driving the significance of minimally invasive procedures. Research and development activities in the field of tumor ablation are driving the growth of the market. Increasing awareness among people about chronic diseases is driving the market's growth significantly.

Impact of Covid-19

The COVID-19 pandemic, due to disruption in the supply chain, stringent lockdown, and social distancing, had hampered the growth of every industry. During the pandemic, there was a shift in priorities among the people; people were too bothered by COVID-19. Hospitals all over the world during the pandemic were occupied with the treatment of patients suffering from COVID-19. The condition was worse for all the patients suffering from other diseases, except COVID-19. Pandemics lead to a demand for minimally invasive procedures to reduce the risk of exposure to the virus in healthcare settings. Tumor ablation, being a minimally invasive option for certain cancers, saw increased adoption during this time. There was a significant shift during remote health monitoring and telemedicine, which accelerated the growth in the market. Many non-urgent medical procedures were cancelled during the pandemic.

Growth Drivers

The increasing incidence of cancer globally is a major driver for the tumor ablation market. As the incidence of various types of cancer continues to increase, there is a growing demand for effective and minimally invasive treatment options like tumor ablation. Ongoing advancements in ablation technologies like radiofrequency ablation, microwave ablation, cryoablation, and irreversible electroporation have improved treatment outcomes and expanded the applicability of tumor ablation techniques. To a wider range of cancer types and anatomical locations.

The increasing number of aging people all over the world, who are more susceptible to cancer, is driving the growth of the market. Ongoing research and development efforts are leading to the introduction of innovative ablation technologies and techniques such as image-guided ablation, robotic-assisted ablation, and combination therapies.

Increasing awareness about cancer prevention, early detection, and treatment options, coupled with the implementation of cancer screening programs in many countries, is driving the demand for the cancer ablation market. Favorable reimbursement policies for tumor ablation procedures in many countries encourage patients and healthcare providers to opt for these treatments. Increasing government initiatives regarding cancer treatment and making people well aware of the disease are driving significant growth in the market.

Segmentation

By Application

·         Kidney Cancer

·         Liver Cancer

·         Breast Cancer

·         Lung Cancer

·         Prostate Cancer

·         Bone Cancer

By Treatment

·         Surgical Ablation

·         Laparoscopic Ablation

·         Percutaneous Ablation

By Technology

·         Radiofrequency Ablation

·         Microwave Ablation

·         Cryoablation

·         Irreversible Electroporation Ablation

·         Other Ablation Technologies

Regional Outlook

·         Asia Pacific

·         North America

·         Latin America

·         Europe

·         Middle East and Africa

Tumor Ablation Market Application Segmentation

On the basis of application, the tumor ablation market is segmented into kidney cancer, lung cancer, bone cancer, prostate cancer, breast cancer, and liver cancer. Targeting various types of cancers falls under the category of oncology, which is the leading segment and is expected to dominate the market during the forecast period. It deals with pain caused by tumors, especially for patients who are not suitable candidates for surgery. Providing symptom relief and improving the quality of life for patients with advanced cancer who are not eligible for curative treatments. This category includes emerging applications or niche uses of tumor ablation technologies.

Tumor Ablation Market by Treatment Segmentation

On the basis of the treatment, the tumor ablation market is segmented into surgical ablation, laparoscopic ablation, and percutaneous ablation. Surgical ablation involves open surgery to remove or destroy the tumor. It’s a more invasive approach, but it is necessary for larger or more complex tumors. Laparoscopic procedures involve making small incisions and using specialized instruments and a camera to visualize and treat the tumor. It’s less invasive than open surgery and typically results in a faster recovery time. This approach involves accessing the tumor through the skin using needles or probes guided by imaging techniques such as ultrasound, CT, or MRI. Common percutaneous techniques include radiofrequency ablation, microwave ablation, cryoablation, and laser ablation. Percutaneous ablation is minimally invasive and is often performed on an outpatient basis. The increasing number of cancer patients worldwide is driving growth in the market.

Regional Outlook

On the basis of the regions, the tumor ablation market is segmented into 5 parts: Asia Pacific, North America, Europe, Middle East and Africa, and Latin America. Due to rising prevalence of cancer cases, North America is expected to witness the highest percentage of revenue growth. Increasing geriatric population in the region is the main cause of growth in revenue in the region. Increasing awareness about the cancer treatment, and increase in geriatric population is the main reason behind the growth in European market significantly in the countries like Germany, England, Italy, Spain, and France. Asia pacific region is diverse and dynamic, with varying economic, political, and social landscapes across its countries.

Economically, countries like China, India, Japan, and South Korea play a significant role, While Southeast Asian nations are emerging as a key player. Nations like Vietnam, Indonesia and Malaysia are playing key roles in the market. Technologically powerful countries like Singapore, and South Korea are leading in innovation. Population growth, Urbanization, and environment sustainability, and social inequality are major challenges. Overall Asia Pacific region remains crucial to global dynamics. The presence of key players in North America, and Europe region is the main cause behind the growth in the market. Middle East and Latin America is witnessing moderate growth in the market due to less awareness about the disease.

Key Players

·         Smith and Nephew Plc

·         ConMed Corporation

·         HealthTronics

·         Johnson and Johnson

·         Boston Scientific Corporation

·         Bioventus LLC

·         Integra Lifesciences Holding Corporation

·         Olympus Corporation

·         Medtronic Plc

·         Other Players