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Global Tumor Ablation Devices Market - Insights
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Tumor Ablation devices market is focused towards the benign tumors and early forms of malignant tumors treatment that can be removed with the help of minimally invasive surgical methods. According to the World Health Organization (WHO) data 2012, 30-50% deaths caused due to cancer can be prevented by adequate treatment in early stages and can drastically reduce risk factors. Companies in tumor ablation devices market are focusing towards enhancing its strength through new product launches within shorter product approval time than required, merger & acquisition to enhance their product portfolio and increase the visibility of the market over the forecast period.
For instance, in 2016, Ethicon (A Johnson & Johnson (J&J) company) acquired NeuWave Medical Inc., a medical device company, which manufactures and markets minimally invasive soft tissue microwave ablation systems. These acquisition will help J&J to expand its product portfolio in the ablation devices market. On the contrary, the high costs associated with the devices mainly cryoablation devices are usually unaffordable to middle class and low income population. This high cost incurred with these devices acts as a hindrance for the global market growth. However, these devices has few advantages over open surgeries. Firstly, the cost incurred by these surgical procedures are relatively less than that open surgical procedures. Secondly, these devices are of great convenience when it comes to pain reduction, accuracy and efficiency.
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