Market growth is expected to be primarily influenced by increasing the prevalence of cancer. As per World Health Organization, approximately 13.0% of the deaths that happen globally occur due to cancer. Major market drivers include cancer prevalence and ‘thermal ablation’ innovations. In fact, multiple cancer incidences positively affect market expansion. Over 100 cancers affect people globally. These need distinctive treatments, thus propelling market incomes. —
Increasing elderly populace may also boost market growth. Demand for minimally invasive surgeries has augmented. This has led to quicker recovery & lower trauma for patients. Radiofrequency ablation procedures involve minimal invasiveness. Their escalating demand is also predicted to drive the tumor ablation market till 2022.
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The market is categorized as per technologies, treatments, applications, and regions. Technologies are cryoablation, microwave, radiofrequency, and others. ‘Others’ comprises laser ablation, High-Intensity Focused Ultrasound (HIFU), radioiodine, etc. Radiofrequency was the dominant segment in 2015. Microwave is said to experience lucrative expansion in the near future. Its better efficiency coupled with least complications & process time should spur the segment.
Treatments are percutaneous, laparoscopic, and surgical. Surgical dominated the market in 2015. On the other hand, percutaneous will grow significantly from 2015 to 2022. This could be ascribed to wider demand for minimally invasive procedures. Applications of the tumor ablation market encompass various cancers.
These cancers affect the prostate, liver, lungs, head & neck, ENT (ears, nose, & throat), breasts, kidneys, and other parts. Liver cancer led the market in 2015. It may grow further during the forecast period. However, lungs are projected to experience significant growth in the near future. The same would be credited to smoking, air pollution, and inactive lifestyles.
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Regions wise, the market is split into Asia-Pacific (APAC), the Middle East & Africa, Europe, Latin America, and North America. North America dominated the market in 2015. APAC should record the fastest CAGR in the coming seven years. This can owe to its improved medical infrastructure. Players of APAC are likely to benefit from financial expansions and huge populace in the region.
Key companies in the global tumor ablation market consist of Boston Scientific Corporation, HealthTronics, SonaCare Medical, and Neuwave Medical Inc. They attempt at working their way to the top through acquisitions, mergers, partnerships, product developments, and other innovations.
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Name: Ryan Shaw
Organization: Hexa Research
Name: Ryan Shaw
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