Navigating Business Opportunities: Research and Forecast in Tumor Ablation Market till 2029

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).

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Recent Developments of the Tumor Ablation Industry:

- In May 2023, Varian launched the Isolis cryoprobe for CryoCare systems. These are disposable probes with improved efficiency and precision for cryoablation. It helps with tumor ablation. They also support accuracy and help to reduce procedure time.
- In April 2023, AngioDynamics extended its partnership with Cardiva. The collaboration aims to introduce AngioDynamics' oncology products across Europe.

Related Reports:
https://www.prnewswire.com/news-releases/tumor-ablation-market-worth-1-4-billion--marketsandmarkets-302156473.html

https://www.globenewswire.com/news-release/2024/06/14/2898970/0/en/Tumor-Ablation-Market-Set-to-Reach-1-4B-by-2029-Boasting-10-0-CAGR-MarketsandMarkets.html

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