“Tumor ablation market is primarily driven by the rising incidence of cancer globally. Tumor ablation is widely used for the treatment of lung cancer, liver cancer, prostate cancer, bone cancer, and kidney cancer among others. According to WHO, cancer was the major cause of death globally in 2020 -accounted for around 10 mn deaths.”
The report will help the market leaders/new entrants with information on the closest approximations of the revenue numbers for the overall tumor ablation market and the subsegments.
Tumor Ablation Market in terms of revenue was estimated to be worth $0.8 billion in 2024 and is poised to reach $1.4 billion by 2029, growing at a CAGR of 10.0% from 2024 to 2029 according to a new report by MarketsandMarkets™.
Technological advancement, new product developments in cryoablation, and the rising incidence of cancer are the major indicators contributing to the growth of the market.
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Microwave ablation segment to register significant growth rate over the forecast period of 2024-2029.
Based on the technology, the global market is further segmented into microwave, radiofrequency, high-intensity focused ultrasound, cryoablation, and other technologies. The microwave ablation segment is anticipated to register the highest growth rate over in the near future owing to the promising results of the treatment. This is attributed to the increasing focus on microwave ablation due to its notable benefits such as speed, improved success rate and precise ablation. High efficiency rate of microwave ablation for various cancers is expected to increase its utilization in the end user facilities in coming years.
The generators segment will register a significant growth rate over the forecast period of 2024-2029.
The global tumor ablation market is segmented by product type into generators and probes/electrodes. Major shares of the segment are attributed to the rising patient population and rising adoption of ablation treatment globally. Increasing cancer population due to change in lifestyle, rising obesity, and increasing alcohol consumption contributes to the rise in the number of ablation procedures at hospitals and clinics. The rise in the number of procedures performed will ultimately support the growth of generators segment and is expected to register the significant growth during the forecast period.
Percutaneous ablation segment to register a significant growth rate over the forecast period of 2024-2029.
In terms of mode, global tumor ablation market is divided by mode of treatment into surgical, percutaneous, and laparoscopic ablation. In 2023, the surgical ablation segment held the major share of the market. Increasing healthcare expenditure and cancer awareness campaigns support the growth of this segment. Educating people through various campaigns for the importance of early detection has been responsible for rise in the number of cancer screening in end user facilities. This ultimately supports the increasing number of ablation procedures and contributes to the exponential growth of the segment.
Liver cancer segment is in application to register a significant growth over the forecast period of 2024-2029.
By application, the global tumor ablation market is segmented by application into liver cancer, lung cancer, kidney cancer, bone cancer, and other applications. The growing trend towards ablation technology over traditional treatments and rising public awareness drive this segment’s growth. Consistent rise in the global cases of hepatocellular carcinoma, clinical studies showing improved success rate, and rising proportion of older age population have supported the growth of liver cancer segment in tumor ablation market.
The hospitals and clinics accounted for the major share of tumor ablation market by end user in 2023.
Based on end users, the tumor ablation market is segmented into hospitals & clinics, cancer care centers, and other end users. The major share of the end-user segment was held by hospitals and clinics in 2023. The increasing prevalence of liver cancer, advancements in tumor ablation technology, and a growing emphasis on non-invasive treatment options contribute to the expanding utilization of ablation treatment within healthcare settings for comprehensive patient care.
The Asia Pacific market will register significant growth in the market during the forecast period.
The Asia Pacific tumor ablation market is estimated to register significant growth from 2024 to 2029. The increasing target patient population, favorable reimbursement scenario, and growing disposable income fuel the APAC region’s market growth. Moreover, the APAC region has experienced a rise in investments by governments and major players, offering significant growth opportunities for the key players.
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Tumor Ablation Market Dynamics:
Drivers:
- Increasing cancer incidence and rising geriatric population
Restraints:
- Increasing cancer incidence and rising geriatric population
Opportunities:
- Rising healthcare expenditure across emerging economies
Challenge:
- Rising adoption of refurbished tumor ablation systems
Key Market Players of Tumor Ablation Industry:
As of 2023, prominent players in the tumor ablation market are Medtronic Plc (Ireland), Johnson & Johnson MedTech (US), and Stryker Corporation (US).
A breakdown of the primary participants referred to for this report is provided below:
- By Company Type: Tier 1–30%, Tier 2–42%, and Tier 3– 28%
- By Designation: Director-level–10%, C-level–14%, and Others–76%
- By Region: North America–40%, Europe–30%, Asia Pacific–22%, Latin America–6%, and the Middle East & Africa–2%
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Tumor Ablation Market – Key Benefits of Buying the Report:
The report will help the market leaders/new entrants with information on the closest approximations of the revenue numbers for the overall tumor ablation market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies. The report also helps stakeholders understand the market pulse and provides information on key market drivers, restraints, challenges, and opportunities.
This report provides insights on the following pointers:
- Analysis of key drivers (increasing cancer incidence and rising geriatric population, rising focus on minimally invasive procedures, technological advancements in the field of tumor ablation, rising number of awareness campaigns and early detection), restraints (high cost of tumor ablation systems, unfavorable reimbursement scenario), opportunities (rising healthcare expenditure across emerging countries, increasing number of hospitals), and challenges (rising adoption of refurbished tumor ablation systems, hospital budget cuts) influencing the growth of the tumor ablation market
- Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the tumor ablation market
- Market Development: Comprehensive information about lucrative markets–the report analyses the tumor ablation market across varied regions.
- Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the tumor ablation market
- Competitive Assessment: In-depth assessment of market shares, growth strategies, and service offerings of leading players – such as Johnson & Johnson (US), Medtronic Plc (Ireland), Stryker Corporation (US), Varian Medical Systems, Inc. (US), Olympus (Japan), AngioDynamics, Inc. (US), Boston Scientific Corporation (US) among others.
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