Over the last few years, the Tumor Ablation Market has witnessed significant advancements in terms of the development and commercialization of novel tumor ablation products. A number of factors such as technological advancements in the field of tumor ablation focused on enhancing effectiveness and safety of the treatment, rising demand of minimal invasive tumor ablation techniques, increasing prevalence of cancer across the globe, and growing public-private initiatives and funding to support R&D activities in tumor ablation are propelling the growth of the market.
In 2016, North America is expected to hold the largest share of the global tumor ablation market. However, developing Asia-Pacific countries such as China and India are emerging as new revenue-generating destinations for prominent market players. Growing prevalence of cancer along with rising elderly population, increasing medical tourism, and evolving regulatory scenario are expected to offer high growth opportunities in the Asia-Pacific region.
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Key Market Drivers:
# Growing Geriatric Population Across the World
# Increasing Population Base for Cancer Patients
# Technological Advancements in Ablation Devices
# Sprouting Number of Hospitals, Surgical, and Ablation Centers
Key Market Restraints:
# Cost Containment Measures Taken By Various Governments
# Ongoing Healthcare Reforms in the U.S.
Key Market Opportunities:
# Growth Potential Offered By Emerging Markets
# Growing Awareness About Ablation Procedures Over Conventional Therapeutic and Surgical Procedures
Key Market Challenges:
# Stringent Regulatory Guidelines Leading to Significant Increase in Gestation Period of Product Launches
The surgical mode segment is expected to hold largest share of tumor ablation market in 2016. Increasing preference for minimally invasive surgical procedures in mature markets (such as U.S., Italy, and Germany) to treat various cancers, growing awareness among surgeons about the benefits of surgical ablation, and growing proportion of cancer patients undergoing minimally invasive surgeries (owing to their ineligibility or reluctance to undergo open surgery) are key drivers for this market segment.
Microwave tumor ablation offers high growth opportunities for market players. This technology is outpacing other tumor ablation technologies due to its additional therapeutic benefits such as faster heat-generation (which reduces the susceptibility to damage to surrounding organs and gives opportunity to ablate larger tumors), lower heat-sink effect (that results in destruction of surrounding healthy tissue), and better safety & efficacy profile.
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Companies such as Angiodynamics, Inc. (U.S.), Boston Scientific Corporation (U.S.), Galil Medical, Inc. (U.S.), EDAP TMS S.A. (France), Healthtronics, Inc. (U.S.), Medtronic, Plc (U.S.), Mermaid Medical, Inc. (Denmark), Mesonix, Inc. (U.S.), Neuwave Medical, Inc. (U.S.), and Sonacare Medical, LLC (U.S.) are investing in this high-growth market to enhance profits and increase their shares in the tumor ablation market.
Scope of the Report
This research report categorizes the tumor ablation market into the following segments:
Global Market, by Technology
- Radiofrequency (RF) Ablation
- Microwave Ablation
- Cryoablation
- Other Technologies
Global Market, by Mode of Treatment
- Percutaneous Ablation
- Laparoscopic Ablation
- Surgical Ablation
Global Market, by Mode of Treatment
- Liver Cancer
- Lung Cancer
- Kidney Cancer
- Bone Metastasis
- Others
Global Market, by Region
- North America
- U.S.
- Canada
- Europe
- Italy
- Germany
- France
- U.K.
- Spain
- Rest of Europe
- Asia-Pacific
- Japan
- China
- India
- Rest of Asia-Pacific
- Rest of the World (RoW)
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