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Tumor Ablation Therapy Devices Market 2024 - Growth by Regional Segments, Upcoming Business Strategies, Industry Revenue And Forecast by 2033
Tumor Ablation Therapy Devices Market
As per the report, the tumor ablation therapy devices market size has grown rapidly in recent years. It will grow from $0.64 billion in 2023 to $0.74 billion in 2024 at a compound annual growth rate (CAGR) of 15.8%. The tumor ablation therapy devices market size is expected to see rapid growth in the next few years. It will grow to $1.27 billion in 2028 at a compound annual growth rate (CAGR) of 14.5%.
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Increasing Prevalence Of Cancer Drives Tumor Ablation Therapy Device Market Growth
The increasing prevalence of cancer is a key factor driving the growth of the tumor ablation therapy devices market. Cancer is considered to be the second major cause of death, with around 1 in 6 deaths due to cancer worldwide. Tumor ablation is a minimally invasive procedure widely used in the treatment of lung, liver, kidney, and bone tumors. For instance, in 2023, according to the American Cancer Society Inc., a US-based non-profit health group, 1,958,310 new cancer cases are expected to be diagnosed in the US, an increase compared to more than 1,918,030 new cancer cases in 2022. The procedure is an effective method for patients who have failed chemotherapy or radiotherapy, thereby supporting the tumor ablation therapy devices market growth.
Innovations In Tumor Ablation Therapy Devices By Leading Companies
Major companies operating in the tumor ablation therapy devices are focusing on technology advancements for shorter procedures, increased safety, lower exposure to radiation, faster learning curves, and improved outcomes J&J medicals have released a microwave ablation system called NEUWAVE, which is the first minimally invasive device to put electrodes into cancer cells and thereby increase the temperature around them for burning the cancer cells. For instance, in April 2023, Compal Electronics, a Taiwan-based electronics manufacturing company, launched AblatePal, a new radiofrequency ablation (RFA) system designed for the percutaneous, intraoperative coagulation and ablation of soft tissue, encompassing the partial or complete treatment of non-resectable liver lesions. It operates by harnessing the heat energy produced through electrical resistance as the current passes through the tissue, ultimately leading to the eradication of the specific targeted tissue. This system finds application in therapeutic medical devices and has been engineered to address a wide range of medical conditions, notably including cancer.
The tumor ablation therapy devices market covered in this report is segmented -
1) By Technology: Radiofrequency Ablation, Microwave Ablation, Cryoablation, Irreversible Electroporation Ablation, Other Technologies
2) By Treatment: Surgical, Laparoscopic, Percutaneous
3) By Application: Kidney Cancer, Liver Cancer, Breast Cancer, Lung Cancer, Prostate Cancer, Other Applications
4) By End User: Hospitals, Oncology Clinics, Other End Users
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Major companies operating in the tumor ablation therapy devices market include Galil Medical Inc., Misonix Inc., HealthTronics Inc., AngioDynamics Inc., Boston Scientific Corporation, Medtronic plc, EDAP TMS S.A., NeuWave Medical Inc., BVM Medical Limited, Erbe Elektromedizin GmbH, AtriCure Inc., Theraclion, INTIO Inc., BIOTRONIK SE & Co. KG, Olympus Corporation, Stryker Corporation, Merit Medical Systems Inc., Insightec Ltd., Terumo Corporation, Smith & Nephew plc, Monteris Medical Corporation, IceCure Medical Ltd., Profound Medical Inc., Alpinion Medical Systems Co. Ltd., Sonacare Medical, Hologic Inc., Endocare Inc., Integra LifeSciences Corporation, Bovie Medical Corporation
Contents of the report:
1. Executive Summary
2. Tumor Ablation Therapy Devices Market Report Structure
3. Tumor Ablation Therapy Devices Market Trends And Strategies
4. Tumor Ablation Therapy Devices Market - Macro Economic Scenario
5. Tumor Ablation Therapy Devices Market Size And Growth
…..
27. Tumor Ablation Therapy Devices Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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