Tumor Ablation Market
Number of pages: 100 | Report Format: PDF | Published date: March 13, 2023
Historical Years – 2021 | Base Year – 2022 | Forecasted Years – 2023-2031
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Report Attribute |
Details |
|
Market Size Value in 2022 |
US$ 1.57 billion |
|
Revenue Forecast in 2031 |
US$ 4.58 billion |
|
CAGR |
12.6% |
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Base Year for Estimation |
2022 |
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Forecast Period |
2023-2031 |
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Historical Year |
2021 |
|
Segments Covered |
Technology, Treatment, Application, and Region |
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Regional Scope |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
According to the deep-dive market assessment study by Growth Plus Reports, the global tumor ablation market was valued at US$ 1.57 billion in 2022 and is expected to register a revenue CAGR of 12.6% to reach US$ 4.58 billion by 2031.
Tumor Ablation Market Fundamentals
Tumor ablation is a minimally invasive medical procedure that uses heat or cold to destroy abnormal tissue growths, known as tumors. This technique is commonly used to treat cancers in their early stages or those that have not spread beyond their initial site of origin. Tumor ablation can be performed using various methods, including radiofrequency, microwave, cryoablation, and laser ablation.
During tumor ablation, a thin needle or probe is inserted into the tumor under the guidance of imaging technologies, such as ultrasound or computed tomography scans. Once the needle is in place, energy is delivered to the tumor, causing it to heat up or freeze and ultimately destroy the cancerous cells. Tumor ablation is typically performed on an outpatient basis and has a relatively low risk of complications. It is often used as an alternative to surgery or as a complement to other cancer treatments, such as chemotherapy or radiation therapy.
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Tumor Ablation Market Dynamics
The rising prevalence of cancer is one of the primary drivers of the global tumor ablation market revenue growth. For instance, according to the February 2022 factsheet of the WHO, cancer is the largest cause of mortality globally, accounting for over 10 million deaths in 2020, or around one in every six. Breast, lung, colon, rectum, and prostate cancers are the most prevalent types. Tumor ablation techniques can often be performed on an outpatient basis, which is more convenient for patients and can help to reduce healthcare costs. As a result, there is a growing demand for outpatient tumor ablation procedures, which helps grow the global tumor ablation market revenue growth.
Significant advancements in tumor ablation technologies have improved their effectiveness and safety. For instance, advanced imaging technologies have enabled doctors to accurately locate and target tumors for ablation, fueling the global tumor ablation market development. Moreover, healthcare providers are adopting tumor ablation techniques more widely due to their efficacy, safety, and convenience. As more healthcare providers offer these procedures, the global tumor ablation market is expected to grow at higher revenue CAGR during the forecast period.
However, tumor ablation techniques can be expensive, particularly for patients with limited or without insurance coverage. This can limit the accessibility of these techniques for some patients. Moreover, tumor ablation techniques are not equally effective for all types of cancer. They may not be as effective for cancers that have spread to multiple body sites or tumors near sensitive structures, such as blood vessels or nerves. Additionally, high costs, competition from alternative treatments, and inadequate reimbursement policies in emerging nations impede market revenue growth.
Tumor Ablation Market Ecosystem
The global tumor ablation market is analyzed from four perspectives: technology, treatment, application, and region.
Tumor Ablation Market by Technology
Based on the technology, the global tumor ablation market is segmented into radiofrequency ablation, microwave ablation, irreversible electroporation ablation, cryoablation, and other technologies.
The radiofrequency ablation technology segment dominated the market with the principal revenue share in 2022, attributed to quick treatment time, versatility, and lower cost. Radiofrequency tumor ablation technology can treat tumors in various organs, including the liver, kidney, lung, and bone. This versatility makes it a valuable tool for oncologists and other healthcare providers. Radiofrequency tumor ablation technology is highly targeted and can treat tumors in specific body areas without damaging surrounding healthy tissue. Radiofrequency ablation has a high success rate for treating small to medium-sized tumors, with a low recurrence rate. Unlike surgery, a radiofrequency ablation causes less trauma to surrounding tissue. This means that patients experience less pain and have a faster recovery time. These factors contribute to the revenue growth of the radiofrequency tumor ablation technology segment.
The microwave ablation technology segment is expected to be the fastest-growing segment throughout the forecast period, owing to being faster, more efficient, and more precise. Microwave ablation technology is more effective in treating larger tumors and those located in difficult-to-reach areas than some other tumor ablation technologies, such as radiofrequency ablation. Additionally, microwave ablation technology has a faster procedure time than other tumor ablation technologies, such as cryoablation. This can be advantageous for patients seeking a quick and efficient treatment option. It requires less treatment time than other ablation techniques, so patients can return to normal activities more quickly. Occasionally, microwave ablation can be repeated if the tumor recurs or grows back. Microwave ablation causes less pain than other techniques, such as radiofrequency ablation. This is because the tissue absorbs microwave energy more evenly, resulting in less nerve stimulation and less pain for the patient. These factors contribute to the development of the microwave ablation technology segment.
Tumor Ablation Market by Treatment
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Based on the treatment, the global tumor ablation market is segmented into surgical ablation, percutaneous ablation, and laparoscopic ablation.
The surgical ablation segment dominated the global tumor ablation market with the largest revenue share in 2022, owing to the increasing adoption of minimally invasive surgical procedures, technological advancements, and the growing trend towards personalized cancer treatment. Surgical ablation involves surgery to remove or destroy tumors, including cryosurgery, which involves freezing the tumor with liquid nitrogen. In contrast, laser surgery destroys the tumor using a high-intensity laser beam. Electrosurgery involves the usage of electrical currents to heat and destroys the tumor. Surgical ablation offers a comprehensive treatment option for tumors that may not be suitable for other treatments, such as radiation or chemotherapy. It can completely remove the tumor and surrounding tissue, reducing the risk of recurrence. Surgical ablation is effective for larger tumors that may be difficult to treat with other techniques, such as radiofrequency or microwave ablation. It can be combined with other treatments, such as chemotherapy or radiation, to provide a comprehensive approach to cancer treatment. Surgical ablation has a high success rate for treating many types of tumors, particularly those that are localized and have not spread to other body parts. These factors contribute to the development of the surgical ablation segment.
Tumor Ablation Market by Application
Based on the application, the global tumor ablation market is segmented into kidney cancer, lung cancer, breast cancer, prostate cancer, liver cancer, and other cancers.
The lung cancer segment is expected to be the fastest-growing segment throughout the forecast period, attributed to the rising prevalence of this type of cancer. For instance, according to the American Cancer Society’s January 2023 report, in the U.S., 238,340 new cases of lung cancer and 127,070 deaths from lung cancer are estimated to occur in 2023. Depending on how it appears under a microscope, there are two forms of lung cancer: small and non-small-cell lung cancer. Non-small cell lung cancer outnumbers small cell lung cancer. Tumor ablation can be used as a treatment option for lung tumors that are either inoperable or difficult to reach with surgery. It is particularly effective for small tumors that are less than 3 centimeters in size and are located near the outer edges of the lungs. Radiofrequency and microwave ablation are the most commonly used methods for lung tumor ablation. These aspects contribute to the revenue growth of the lung tumor ablation segment.
Tumor Ablation Market by Region
Geographically, the global tumor ablation market has been segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
North America dominated the global tumor ablation market with the largest revenue share in 2022, attributed to high awareness of rare disorders, easy access to high-quality medical care, and favorable reimbursement policies. Additionally, companies across the region are continuously involved in the research and development of new and innovative tumor ablation methods, which is also helping in the development of the market. For instance, in September 2022, Stryker announced that its OptaBlate bone tumor ablation device (OptaBlate) had obtained U.S. Food and Drug Administration (FDA) 510(k) approval. Adding the OptaBlate technology to Stryker’s Interventional Spine (IVS) portfolio broadened the company’s key expertise in vertebral augmentation and radiofrequency ablation. It also rounded out its treatment options for metastatic vertebral body fractures. The new system’s key characteristics include treating two vertebral body levels simultaneously utilizing a bipedicular approach, faster, more consistent ablation, and microinfusion technology, maintaining the zone hydrated while lowering impedance mistakes and preventing charring.
Tumor Ablation Market Competitive Landscape
The prominent players operating in the global tumor ablation market are:
Tumor Ablation Market Strategic Developments
Tumor ablation is a minimally invasive medical procedure that uses heat or cold to destroy abnormal tissue growths, known as tumors.
The global tumor ablation market is expected to reach US$ 4.58 billion by 2031.
The tumor ablation market is expected to register a revenue CAGR of 12.6% during the forecast period from 2023 to 2031.
The high cost, competition from alternative treatments, and inadequate reimbursement policies restrict the global market revenue growth to its full potential.
The prominent players operating in the global tumor ablation market are HealthTronics, Inc., Mermaid Medical, Galil Medical, Inc., AngioDynamics, Inc., and Merit Medical Systems.
*Insights on financial performance are subject to the availability of information in the public domain