Tumor Ablation Market Analysis
The global tumor ablation market is anticipated to have an astronomical growth at a stellar 12.8% CAGR during the forecast period (2018-2023). Tumor ablation is a technique that is minimally invasive and commonly used for treating tumors in the lung, bone, kidney and liver. During this process, thermal energy is utilized to cool or heat tissues to cytotoxic levels. Under its classification, there are various modalities used worldwide: irreversible electroporation, cryoablation, high-intensity focused ultrasound, laser, microwave and radiofrequency. Every technique though similar in purpose possess optimal and specific indications. Tumor ablation is a vital choice for those who have failed radiotherapy or chemotherapy or is not a candidate for surgery. It is also considered as the potential first-line treatment especially in patients with benign tumors in the liver or small hepatocellular carcinomas. This is a convenient and excellent treatment choice over the other conventional surgical methods.
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There are several factors that is propelling the growth of the tumor ablation market. These factors according to MRFR (Market Research Future) report include rapid adoption of novel form of treatment for fighting cancer, growing public awareness programs for detecting cancer at the initial stage, funds offered by the government for cancer research, extensive use of minimally invasive methods due to its myriad benefits such as minimal complications, less trauma and speedy recovery, rising per capita income and various technological advancements such as HIFU (High-Intensity Focused Ultrasound), irreversible electroporation, laser ablation and thermal ablation. On the contrary, factors such as exorbitant price of tumor ablation methods, constraint subsidy scenarios, dearth of experts and strict regulations for product approval may restrain the growth of the tumor ablation market.
Tumor Ablation Market Competitive Analysis
The presence of successful products and brands is shaping the development of the market to a great extent. The key success factors are also favorably contributing to the growth of the market. The fortification of the distribution channels in the market is expected to increase the penetration of the products. In the coming years, market profitability will progressively improve as innovation and product developments induce positive developments. The industry cost structure is also expected to alter progressively in the coming future. The market scenario is highly dependent on the factors that are shaping the opportunities and the challenges that are existing in the market. The competitors in the market are ensuring that the product and services being offered in the market are aligning with the preferences of their user base favorably. The innovative trends emerging in the market are expected to set grounds for robust development in the approaching period. The market size is also expected to grow significantly in the coming years. Also, the progress of technology has gained momentum leading to enhanced market growth.
The eminent players in the tumor ablation market are EDAP TMS, AngioDynamics Inc., Healthtronics Inc., Biotronik, Galil Medical, Inc, Neuwave Medical, Inc., SonaCare Medical, Medtronic Plc., Boston Scientific Corporation, Misonix Inc., and Covidien PLC to name a few.
Tumor Ablation Market Segmentation
Market Research Future report offers a comprehensive segmental analysis of the tumor ablation market on the basis of technology, treatment, application and end-user.
Based on technology, it is segmented into cryoablation, irreversible electroporation, microwave, radiofrequency and others. Of these, radiofrequency will dominate the tumor ablation market during the forecast period. Prominent use of this technology to remove solid tumor and its specificity has resulted to its growth. Also, this method’s efficiency is expected to spur the segment growth. This will be followed by microwave ablation technology that is projected to have a remunerative growth due to the advantages provided by this technology namely optimal heating of cystic mass, reduced procedural pain, lesser time, constancy in high temperature and bigger tumor ablation volume.
Based on treatment, the tumor ablation market is segmented into laparoscopic, percutaneous and surgical. Of these, surgical will dominate the market during the forecast period owing to rising prevalence of breast and liver cancer that needs open surgical techniques. This will be followed by the percutaneous ablation that is projected to grow at the fastest pace.
Based on application, it is segmented into prostate cancer, bone cancer, breast cancer, lung cancer, liver cancer and others. Of these, liver cancer will have the largest share in the market owing to rising cases of both bile duct as well as primary liver cancers. Of these, lung cancer will lead the market during the forecast period owing to rising cases of the disease.
Based on end-user, the tumor ablation market is segmented into research institute, surgical and ablation centers and hospitals. Of these, hospitals will dominate the market due to increasing practices to visit the hospital for well-being along with the availability of various facilities in hospitals.
Tumor Ablation Market Regional Analysis
By region, the tumor ablation market covers growth opportunities and latest trends across Americas, Europe, Asia Pacific and Middle East and Africa. Of these, Americas will remain head and shoulders over other regions in the market. The growth can be attributed to factors such as increasing incidences of cancer amid rising elderly population, use of advanced healthcare facilities, favorable reimbursement policies, and increasing awareness regarding cancer detection as well as treatment. The tumor ablation market in Europe will grab the second position owing to rising prevalence of cancer coupled with increasing healthcare expenditure. The tumor ablation market in the APAC region will grow at the fastest pace due to high demand for advanced healthcare technologies, constantly growing investment in healthcare and rising geriatric population. On the other hand, the tumor ablation market in the Middle East and Africa will have a minimal share owing to poor medical facilities, dearth of technical knowledge and underdeveloped healthcare sector.
Table Of Content
1 Report Prologue
2 Market Introduction
3 Research Methodology
4 Market Dynamics
5 Market Factor Analysis
6 Global Tumor Ablation Market By Technology
7 Global Tumor Ablation Market By Treatment
8 Global Tumor Ablation Market By Application
9 Global Tumor Ablation Market By End USer
10 Global Tumor Ablation Market by Region
To view the full report, visit at https://www.marketresearchfuture.com/reports/tumor-ablation-market-7139
March 2019- CLS (Clinical Laserthermia Systems AB) stated that both clinical studies as well as outcomes of the imILT cancer immunotherapy that is heat induced for tumors will be highlighted at ECIO (European Conference on Interventional Oncology) at Netherlands on April 8-11, 2019. CLS will also take part on a hands-on, educational workshop for “tumor ablation” highlighting its TRANSBERG thermal therapy system for high-precision, image-guided laser ablation.
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