SAN FRANCISCO, February 29, 2016 /PRNewswire/ --
Global tumor ablation market is expected to reach USD 1.5 billion by 2022, according to a new study by Grand View Research Inc. Rising prevalence of different forms of cancer and increasing technological advancements in the field of thermal ablation techniques are the most prominent drivers of the market.
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Besides the use of thermal ablation, techniques such as laser ablation, irreversible electroporation, High Intensity Focused Ultrasonography (HIFU) are also clinically growing, concurrently propelling the tumor ablation industry.
Occurrence of lung, breast, and liver cancer is on the rise globally. According to the Center for Disease Control (CDC) and other organizations, currently, about 210,828 cases of lung cancer, 2.9 million cases of breast cancer, and over 2.7 million cases of prostate cancer are reported in the U.S. alone.
Browse full research report with TOC on "Tumor Ablation Market Size & Forecast By Technology (Radiofrequency, Microwave, Cryoablation), By Treatment (Surgical, Laparoscopic, Percutaneous) By Application (Liver Cancer, Breast Cancer, Lung Cancer, Prostrate Cancer), And Trend Analysis From 2015 To 2022" at: http://www.grandviewresearch.com/industry-analysis/tumor-ablation-market.
In terms of technological advancement, companies such as SonaCare Medical are coupling ablation techniques with other technologies to improve accuracy, performance, and level of care. SonaLink, a remote patient monitoring platform, was put to use along with Sonatherm ablation system to enable physicians to enhance patient care experience, thereby promoting market growth.
The industry is also anticipated to witness mergers and joint collaborations as a tool to curb rising competition. For instance, Boston Scientific Corporation acquired C.R. Bard Electrophysiology, which led to a 48.0% hike in profit for the former company.
Further key findings from the report suggest:
- Microwave ablation technology is expected to be the fastest growing segment over the forecast period at a CAGR of over 15.0%. Reduction in the procedure time and low cost for treatment are some of the attributes favoring growth.
- In terms of treatment, surgical ablation is predicted to form the largest market by 2022 with about 35.0% share. Liver and lung cancer ablation require surgical procedures, and since these form the largest and fastest growing segments, they concomitantly propel surgical ablation growth.
- Lung cancer forms the most lucrative market and is anticipated to be the fastest growing segment over the forecast period. By 2022, it is expected to contribute about 15.0% of the revenue share owing to its rising prevalence rate across the globe.
- According to market forecast for 2022, North America is expected to dominate the market and Asia Pacific is anticipated to witness the fastest growth. Augmenting growth in the cancer prevalence and rising healthcare expenditure in regions such as China, Korea, and India are factors responsible for this rapid growth.
- Major players of the market include HealthTronics, Galil Medical Inc., Angiodynamics, Medtronic Plc. (Covidien), Boston Scientific Corporation, SonaCare Medical, Misonix Inc., EDAP TMS S.A., and Neuwave Medical Inc. To retain market leadership, players such as Medtronic are working towards acquiring other companies and expanding their portfolio. For instance, in January 2016, Medtronic acquired the OsteoCool RF Ablation System from Baylis Medical.
Grand View Research has segmented the global tumor ablation market on the basis of technology, treatment, application, and region:
- Global Tumor Ablation Technology Outlook (USD million), 2012 - 2022
Radiofrequency
Microwave ablation
Cryoablation
Other ablation technologies
- Global Tumor Ablation Treatment Outlook (USD million), 2012 - 2022
Surgical tumor ablation
Laparoscopic tumor ablation
Percutaneous tumor ablation
- Global Tumor Ablation Application Outlook (USD million), 2012 - 2022
Liver cancer
Breast cancer
Lung cancer
Prostate cancer
Other cancers
- Tumor Ablation Region Outlook (USD million), 2012 - 2022
North America:
U.S.
- U.S. tumor ablation market technology outlook
Radiofrequency
Microwave ablation
Cryoablation
Other ablation technologies
- U.S. tumor ablation market treatment outlook
Surgical tumor ablation
Laparoscopic tumor ablation
Percutaneous
- U.S. tumor ablation market application outlook
Liver cancer
Breast cancer
Lung cancer
Prostate cancer
Other cancer
Canada
- Canada tumor ablation market technology outlook
Radiofrequency
Microwave ablation
Cryoablation
Other ablation technologies
- Canada tumor ablation market treatment outlook
Surgical tumor ablation
Laparoscopic tumor ablation
Percutaneous
- Canada tumor ablation market application outlook
Liver cancer
Breast cancer
Lung cancer
Prostate cancer
Other cancer
Europe:
UK
- UK tumor ablation market technology outlook
Radiofrequency
Microwave ablation
Cryoablation
Other ablation technologies
- UK tumor ablation market treatment outlook
Surgical tumor ablation
Laparoscopic tumor ablation
Percutaneous
- UK tumor ablation market application outlook
Liver cancer
Breast cancer
Lung cancer
Prostate cancer
Other cancer
Germany
- Germany tumor ablation market technology outlook
Radiofrequency
Microwave ablation
Cryoablation
Other ablation technologies
- Germany tumor ablation market treatment outlook
Surgical tumor ablation
Laparoscopic tumor ablation
Percutaneous
- Germany tumor ablation market application outlook
Liver cancer
Breast cancer
Lung cancer
Prostate cancer
Other cancer
Asia Pacific:
Japan
- Japan tumor ablation market technology outlook
Radiofrequency
Microwave ablation
Cryoablation
Other ablation technologies
- Japan tumor ablation market treatment outlook
Surgical tumor ablation
Laparoscopic tumor ablation
Percutaneous
- Japan tumor ablation market application outlook
Liver cancer
Breast cancer
Lung cancer
Prostate cancer
Other cancer
China
- China tumor ablation market technology outlook
Radiofrequency
Microwave ablation
Cryoablation
Other ablation technologies
- China tumor ablation market treatment outlook
Surgical tumor ablation
Laparoscopic tumor ablation
Percutaneous
- China tumor ablation market application outlook
Liver cancer
Breast cancer
Lung cancer
Prostate cancer
Other cancer
Latin America:
Brazil
- Brazil tumor ablation market technology outlook
Radiofrequency
Microwave ablation
Cryoablation
Other ablation technologies
- Brazil tumor ablation market treatment outlook
Surgical tumor ablation
Laparoscopic tumor ablation
Percutaneous
- Brazil tumor ablation market application outlook
Liver cancer
Breast cancer
Lung cancer
Prostate cancer
Other cancer
Mexico
- Mexico tumor ablation market technology outlook
Radiofrequency
Microwave ablation
Cryoablation
Other ablation technologies
- Mexico tumor ablation market treatment outlook
Surgical tumor ablation
Laparoscopic tumor ablation
Percutaneous
- Mexico tumor ablation market application outlook
Liver cancer
Breast cancer
Lung cancer
Prostate cancer
Other cancer
MEA:
South Africa
- South Africa tumor ablation market technology outlook
Radiofrequency
Microwave ablation
Cryoablation
Other ablation technologies
- South Africa tumor ablation market treatment outlook
Surgical tumor ablation
Laparoscopic tumor ablation
Percutaneous
- South Africa tumor ablation market application outlook
Liver cancer
Breast cancer
Lung cancer
Prostate cancer
Other cancer
Saudi Arabia
- Saudi Arabia tumor ablation market technology outlook
Radiofrequency
Microwave ablation
Cryoablation
Other ablation technologies
- Saudi Arabia tumor ablation market treatment outlook
Surgical tumor ablation
Laparoscopic tumor ablation
Percutaneous
- Saudi Arabia tumor ablation market application outlook
Liver cancer
Breast cancer
Lung cancer
Prostate cancer
Other cancer
Browse related reports by Grand View Research:
- Biosimilar Market - http://www.grandviewresearch.com/industry-analysis/biosimilar-market
- Proteomics Market - http://www.grandviewresearch.com/industry-analysis/proteomics-market
- Hospital Supplies Market - http://www.grandviewresearch.com/industry-analysis/hospital-supplies-market
- Cell Counting Market - http://www.grandviewresearch.com/industry-analysis/cell-counting-market
About Grand View Research:
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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