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Tumor Ablation Therapy Devices Market 2024 Report By Key Companies, Regional Analysis And Forecast 2033
Tumor Ablation Therapy Devices Market
According to The Business Research Company's, 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 growth in the historic period can be attributed to cancer incidence, technological advancements, aging population, minimally invasive procedures.
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Market Drivers and Trends:
The rising geriatric population is expected to propel the growth of the wearable injectors market going forward. The geriatric population is the segment of the population that consists of older adults, typically defined as individuals who are 65 or older. Wearable injectors offer the geriatric population a user-friendly means of self-administering medications, promoting independence and adherence while also reducing the need for frequent hospital visits. For instance, in October 2022, according to the World Health Organization, a Switzerland-based specialized health agency, globally, 1 in 6 individuals would be 60 or older by 2030 and is expected to reach 2.1 billion elderly people by 2050. Therefore, the rising geriatric population is driving the growth of the wearable injectors market.
Major companies operating in the wearable injectors market are increasing their focus on introducing novel medications, such as the enFuse injector, to maximize revenue in the market. The enFuse is a drug delivery device designed for the self-administration of high-volume drugs, providing comfort and convenience for patients. For instance, in September 2023, Enable Injections, Inc., a US-based medical technology company, received approval from the US Food and Drug Administration (FDA) for a wearable injector called the enFuse injector. This device is designed for the subcutaneous delivery of EMPAVELI, a medication used by adults with paroxysmal nocturnal hemoglobinuria (PNH) and commercialized in the United States by Apellis Pharmaceuticals Inc. The enFuse injector is a compact, wearable device that streamlines the self-administration experience with minimal disruption to patients' daily lives. It allows for hands-free drug delivery of up to 25 mL, making it an ideal option for at-home or in-clinic use. The enFuse injector is the first wearable device approved by the FDA and offers patients a new and more convenient way to administer their medication.
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Major Key Players of the Market:
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
Tumor Ablation Therapy Devices Market 2024 Key Insights:
• The tumor ablation therapy devices market size is expected to grow to $1.27 billion in 2028 at a compound annual growth rate (CAGR) of 14.5%.
• Surging Demand For Minimally Invasive Procedures Fuels Growth In Tumor Ablation Therapy Devices Market
• Increasing Focus On Developing Minimally Invasive Therapies To Gain A Competitive Edge
• North America was the largest region in the tumor ablation therapy devices market in 2023.
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