Recent developments in the Global Tumor Ablation Procedure Industry:
# In October 2015, AngioDynamics, Inc. launched its NanoKnife Ablation system in South Korea after receiving regulatory approval by Ministry of Food and Drug Safety (South Korea). This helped AngioDynamics expand its product portfolio for tumor ablation market.
# In July 2016, Boston Scientific Corporation acquired the Cosman Medical Inc. (U.S.) at an undisclosed value. Cosman Medical is a leading manufacturer of radiofrequency ablation devices. This acquisition helped Boston Scientific to strengthen its technological capabilities and to expand its product sales and distribution network in the global tumor ablation market.
# In May 2016, Galil Medical Inc. was acquired by the BTG plc group (a part of BTG International Ltd, U.K.); for a value of USD 110.0 million. BTG International is prominent manufacturer of cryoablation products and possesses strong product distribution network across Europe. The acquisition helped Galil Medical to strengthen its technological capabilities and to expand its distribution network in global tumor ablation market.
# In april 2016, Medtronic plc launched Barrx 360 Express radiofrequency ablation (RFA) balloon catheter; for the treatment of Barrett’s esophagus. It helped the company to provide technologically advanced product to its customers in tumor ablation market.
Major Growth Influencing Factors:
Key factors such growing geriatric population, continuous expansion in population base of cancer patients across the globe, and ongoing technological advancements in the field of tumor ablation product are the major factors driving the growth of the tumor ablation market across the globe.
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Expected Growth Scenario Across Geographies:
North America is expected to account for the largest share of the market during the forecast period
North America is one of the major revenue-generating regions in the global tumor ablation market. The large share of this regional segment can mainly be attributed to early introduction of tumor ablation technologies in the region, continuous technological advancements occurring in the field of tumor ablation catheters, and growing private-public investments to develop innovative tumor ablation technologies (coupled with the growing public awareness related to the benefits of tumor ablation).
Key questions addressed in this Report:
# What are the growth opportunities related to tumor ablation across major regions in the future?
# Emerging countries have immense opportunities for the growth and adoption of tumor ablation products. Will this scenario continue in the next five years?
# Where will all the advancements in products offered by various companies take the industry in the mid- to long-term?
# What are the new trends and advancements in the tumor ablation market?
Applications of the Technology:
On the basis of application, the market is segmented into liver cancer, lung cancer, kidney cancer, bone metastasis, other applications. The liver cancer segment is expected to account for the largest share of the tumor ablation market in 2016.
Factors such as high adoption rate of ablation techniques among healthcare professionals for the treatment of liver carcinoma, significant medical reimbursements available in the US and ~53% reimbursement for liver cancer treatment provided by Medicare, larger proportion of global population exposed to various risk factors for liver cancer as compared to that for other cancer types, and significant life expectancy in patients after liver tumor ablation drive the growth of this segment.
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Global Leaders:
The key players present in the global tumor ablation market focus on various strategies such as product approvals, launches, and enhancements; strategic acquisitions; partnerships, agreements, and collaborations; and geographic expansions in order to increase their shares in the global tumor ablation market.
During 2013-2016, product approvals, launches, and enhancements; and acquisitions were the key strategies adopted by major industry players, including AngioDynamics, Inc. (U.S.), Boston Scientific Corporation (U.S.), Galil Medical (Israel), EDAP TMS S.A. (France), HealthTronics, Inc. (U.S.), Medtronic plc (Ireland), and SonaCare Medical LLC (U.S.).
Other strategies adopted by many prominent players include fund raising from private/government sources to enhance their research & development capabilities; initiatives to increase awareness about tumor ablation; and geographic expansions.
