Tumour Ablation Market Report Up to 2031
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Technological innovations in the area of tumor ablation combined with increased procedural safety profile, rising market demand of minimal intrusive tumor ablation techniques, increasing pervasiveness of cancer across the globe, as well as growing number of public-private initiatives & funding to support ongoing research activities related to tumor ablation are boosting the growth of the market. However, factors such as critical regulatory policies and cost restraint measures implemented by various governments are limiting the optimal market growth.
COVID-19 Impact on Tumor Ablation Market
The pandemic of COViD-19 will not affect the growth of the Tumor Ablation market in any ways. The market growth is directly related to the occurrence of cancer among the masses, which is growing with a considerable growth rate.
The rising occurrence of cancer and the high demand for harmless healing options are major factors directing towards the growth of the market. As per the report of the WHO, it is projected that around 10 to 11 million cancer cases will be diagnosed each year worldwide, till 2030. The number of new cancer cases is projected to increase by more than 80% in low-income countries compared to half the rate in high-income countries (40%) from 2008 to 2030. Lucrative growth potential in currently available therapeutic options, and high demand for minimally and non-intrusivetreatments are the factors expected to drive the market during the forecast period.
Growth potential offered by emerging market, owing to the rise in the healthcare spending globally is boosting the tumor ablation market growth. Additionally, growing awareness about Ablation procedures over conventional therapeutic and surgical procedures is also one of the significant factor paving towards the market growth.
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Some of the companies profiled in the report include AngioDynamics, Inc. (U.S.), Boston Scientific Corporation (U.S.), Galil Medical, Inc. (U.S.), EDAP TMS S.A. (France), Healthtronics, Inc. (U.S.), Medtronic, PLC (U.S.), Mermaid Medical, Inc. (Denmark), Mesonix, Inc. (U.S.), Neuwave Medical, Inc. (U.S.) and Sonacare Medical, LLC (U.S.).
• In October 2015, AngioDynamics, Inc. introduced its NanoKnife Ablation system in South Korea after gettingsupervisory approval by Ministry of Food and Drug Safety (South Korea). This helped AngioDynamics enlarge its product portfolio for tumor ablation market.
• In July 2016, Boston Scientific Corporation bought the Cosman Medical Inc. (U.S.) at an undisclosed value. Cosman Medical is a leading manufacturer of radiofrequency ablation devices. This acquisition helped Boston Scientific to strengthen its technological capabilities and to increase its product sales and distribution network in the global tumor ablation market.
• In May, 2016, Galil Medical Inc. was acquired by the BTG PLC group (a part of BTG International Ltd, U.K.); for a value of USD 110.0 million. BTG International is prominent manufacturer of Cryoablation products and possesses strong product distribution network across Europe. The acquisition helped Galil Medical to strengthen its technological capabilities and to expand its distribution network in global tumor ablation market
• In April 2016, Medtronic plc launched Barrx 360 Express radiofrequency ablation (RFA) balloon catheter; for the treatment of Barrett's oesophagus. It helped the company to provide technologically advanced product to its customers in tumor ablation market.
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