Tumor ablation is a medical procedure to destroy or remove abnormal tissue, such as cancerous tumors, without the need for surgery. It is a minimally invasive approach that is often used when surgery is not a viable option or when patients prefer a less invasive treatment.
PORTLAND, Ore., Nov. 15, 2023 /PRNewswire/ -- Allied Market Research published a report, titled, "Tumor Ablation Market by Technology (Radiofrequency Ablation, Microwave Ablation, Cryo-Ablation, Irreversible Electroporation Ablation, and Others), Treatment (Surgical Ablation, Laparoscopic Ablation, and Percutaneous Ablation), and Application (Kidney Cancer, Liver Cancer, Breast Cancer, Lung Cancer, Prostate Cancer, and Bone Cancer): Global Opportunity Analysis and Industry Forecast, 2023–2032.". According to the report, the global tumor ablation market was valued at $1.4 Billion in 2022 and is estimated to reach $5.0 Billion by 2032, exhibiting a CAGR of 13.5% from 2022 to 2032.
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Prime determinants of growth
The tumor ablation market has experienced significant growth due to increase in the prevalence of cancers across the globe and the increase in demand for minimally invasive tumor ablation techniques.
Report coverage & details:
Report Coverage |
Details |
Forecast Period |
2023–2032 |
Base Year |
2022 |
Market Size in 2022 |
$1.4 Billion |
Market Size in 2032 |
$5.0 Billion |
CAGR |
13.5 % |
No. of Pages in Report |
240 |
Segments covered |
Technology, Treatment, Application, and Region. |
Drivers |
Increase in prevalence of cancers across the globe. Increase in demand for minimally invasive tumor ablation techniques. |
Opportunities |
Rise in research and development activities for tumor ablation. |
Restraints |
Side-effects associated with tumor ablation treatment. |
Economic Downturn Analysis: Impact of Recession in 2023 on the Tumor Ablation Market
- The global recession had a significant impact on the tumor ablation market.
- The high inflation rate and the economic uncertainty have impacted the potential investment for new product development and research activities.
- However, the market for tumor ablation market is expected to recover owing to rise in the prevalence of cancer.
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The other ablation technologies segment is expected to maintain its dominance throughout the forecast period.
By technology, the other ablation technologies segment held the highest market share in 2022, accounting for more than one-third of the tumor ablation market revenue, owing to high adoption of laser ablation surgery as compared to other traditional methods.
The surgical ablation segment is expected to maintain its leadership status throughout the forecast period.
Based on treatment, the surgical ablation segment held the highest market share in 2022, accounting for one-third of the tumor ablation market revenue. This is attributed to the high adoption of tumor ablation devices to surgically remove cancerous tumors.
The liver cancer segment is projected to maintain its leadership status throughout the forecast period.
By application, the liver cancer segment held the highest market share in 2022, accounting for one-third of the tumor ablation market revenue. This is attributed to surge in the prevalence of liver cancer.
North America is projected to maintain its leadership status throughout the forecast period.
By region, North America held the highest market share in 2022, accounting for two-fifths of the tumor ablation market revenue. This is attributed to rise in the prevalence of cancer and presence of major key players.
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Leading Market Players:
- Medtronic Plc.
- Boston Scientific Corporation
- Smith And Nephew Plc.
- Angiodynamics Inc.
- Healthtronics Inc.
- Bioventus LLC
- Johnson And Johnson
- Conmed Corporation
- Olympus Corporation
- Integra Lifesciences Holdings Corporation
The report provides a detailed analysis of the key players in the tumor ablation market. These players have adopted different strategies such as product development, product approval, acquisition, and partnership to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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