Tumor ablation refers to minimally-invasive procedures that employ various sources of energy such as radiofrequency ablation, microwave ablation, cryoablation, and others to destroy tumors. The procedure works by creating localized heat or cold at the site of the tumor to destroy its cells. Tumor ablation has gained prominence in recent years as an effective and low-risk alternative to traditional tumor removal surgeries for the treatment of cancers of the liver, lung, kidney, and bone. The minimally invasive nature of ablation procedures help avoid complications associated with open surgeries such as blood loss, scarring, and long recovery times.
According to coherent market Insights the global tumor ablation market size was valued at USD 1,018.6 million in 2021 and is anticipated to witness a compound annual growth rate (CAGR) of 11.5% from 2022 to 2028.
Key Takeaways
Key players operating in the Tumor Ablation Market Analysis are Medtronic, Angiodynamics, HealthTronics, Boston Scientific, Galil Medical, NeuWave Medical, EDAP TMS and others.
The tumor ablation market is expected to witness increased growth opportunities due to rising demand for minimally invasive cancer treatment procedures and technological advancements in ablation devices. Notable advancements include nanoknife technology for tumor ablation and MRI-guided laser ablation systems.
Technological advancements are also reducing the risk of complications during tumor ablation procedures. Advancements include temperature monitoring technology for accurate control of ablation zone and ultrasound imaging for real-time visualization of ablation zone.
Market drivers
Rising prevalence of cancer is a key driver propelling the demand for tumor ablation globally. According to the World Health Organization, cancer burden is expected to grow to 27.5 million new cases and 16.3 million cancer deaths by 2040. Moreover, tumor ablation is increasingly gaining acceptance as an effective alternative to tumor surgery, especially for conditions where surgery may be unsafe or not an option. This is expected to significantly drive the growth of the global tumor ablation market during the forecast period.
Current challenges in Tumor Ablation Market
The tumor ablation market continues to face various challenges. The high cost of tumor ablation procedures and therapies continues to limit widespread adoption. Lack of adequate healthcare infrastructure and skilled professionals in developing regions also poses issues. Further, uncertainty over long term efficacy and outcomes of tumor ablation procedures restricts complete patient and physician acceptance. Addressing these challenges through innovations, accessibility initiatives and enhanced clinical evidence can help propel future growth in this market.
SWOT Analysis
Strength: Non-invasive nature and minimal recovery time of ablation therapies. Ability to treat both primary and metastatic tumors.
Weakness: Image guidance is required which increases costs. Limited to treatment of small tumors typically less than 3 cm.
Opportunity: Scope for inclusion of ablation in guideline-based treatment protocols. Development of novel ablation technologies with improved efficacy.
Threats: Competition and substitution from alternative localized tumor treatment options. Safety concerns over long term outcomes.
Geographical concentration
North America currently accounts for the largest share of the global tumor ablation market in terms of value. This is due to availability of advanced healthcare facilities, favorable reimbursements and rising cancer prevalence in the region.
Fastest growing region
The Asia Pacific region is poised to witness the fastest growth during the forecast period in the tumor ablation market. This can be attributed to growing healthcare spending, rising awareness and improving access to advanced cancer therapies across major APAC countries.
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