According to the latest market report published by Credence Research, Inc. “Tumor Ablation Market – Growth, Future Prospects and Competitive Analysis, 2017 – 2025” the global tumor ablation market was valued at US$ 396.89 Mn in 2016, and is expected to reach US$ 1,208.93 Mn by 2025, expanding at a CAGR of 13.2% from 2017 to 2025.
Browse the full report Tumor Ablation Market – Growth, Future Prospects and Competitive Analysis, 2017 – 2025 at http://www.credenceresearch.com/report/tumor-ablation-market
Tumor ablation is a minimally invasive procedure that is commonly used in the treatment of tumors of liver, kidney, bone, and lung; special probes are used to burn or freeze tumor without the surgery. Factors such as growing prevalence of different forms of cancer and growing awareness regarding the benefits offered by ablation procedures over conventional surgical procedures are fueling the growth of tumor ablation market globally. For the purpose of study, global tumor ablation market is segmented on the basis of technology such as radiofrequency ablation, microwave ablation, cryoablation and other technologies. Currently, radiofrequency ablation held largest market share because it is a commonly used method to treat cancer in bone, kidney, liver, lung and prostate. Faster recovery by radiofrequency ablation would influence the growth of radiofrequency ablation market globally. On the basis of treatment, this market is categorized as surgical ablation, laparoscopic ablation and percutaneous ablation. In the base year 2016, surgical ablation is major revenue generating segment due its wide range of applicability in removing solid tumors.
On the basis of application, the global tumor ablation market is categorized as liver cancer, lung cancer, kidney cancer, bone metastasis and other applications; liver cancer held largest market share as tumor ablation is widely used in treatment of solid tumors in liver. Tumor ablation market is currently dominated by North America due to factors such as technological advances, advanced healthcare infrastructure and high prevalence of cancer are influencing market growth in North America.
Market Competition Assessment:
The tumor ablation market is observed to be highly competitive and comprises large number of players. However, the market is currently dominated by few players such as Angiodynamics, Inc., Boston Scientific Corp., BVM Medical Limited, EDAP TMS S.A., Galil Medical, Inc., Healthtronics, Inc., INTIO Inc., Medtronic, Plc., Mermaid Medical, Inc., Mesonix, Inc., Neuwave Medical, Inc., Sonacare Medical, LLC and other.
Key Market Movements:
– Factors such as rising prevalence of different forms of cancer, technological advancements in the field of ablation, rising awareness regarding the benefits offered by ablation procedures over the conventional surgical procedures and rising number of hospitals, surgical, and ablation centers are driving the growth of tumor ablation market globally.
– However, stringent regulatory guidelines leading to increase in period of product launches and therapeutic challenges related to ablation procedures are negatively impacting the growth of tumor ablation market worldwide.