Press release
Oncology Ablation Market Anticipated To Witness Robust Growth, Surpassing $2.35 Billion By 2029
Oncology Ablation Market
What Is the Current Oncology Ablation Market Size and Its Estimated Growth Rate?
The oncology ablation market has grown swiftly in recent years. It will expand from $1.3 billion in 2024 to $1.46 billion in 2025 at a CAGR of 12.9%. Growth during the historical period was driven by the growing cancer burden, rising demand for less invasive treatment methods, greater healthcare investments, regulatory approvals of new technologies, improvements in cancer detection, and a rising elderly population.
The oncology ablation market is anticipated to grow rapidly in the next few years. It is expected to reach $2.35 billion by 2029, with a compound annual growth rate (CAGR) of 12.6%. This growth is attributed to continuous advancements in ablation technology, increasing adoption of these technologies in emerging economies, the rise of personalized and precision medicine, growing government support for cancer research and treatment innovations, an increased demand for outpatient procedures, and enhanced public and professional awareness. Key trends include AI integration, advances in imaging technologies, robotic-assisted ablation, the introduction of advanced ablation devices with better efficacy, safety, and ease of use, and the use of telemedicine for pre- and post-ablation care.
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How Are Emerging Segments Shaping the Oncology Ablation Market Landscape?
The oncology ablation market covered in this report is segmented -
1) By Technology: Radiofrequency Ablation, Microwave Ablation, Cryoablation, Irreversible Electroporation Ablation
2) By Treatment: Surgical Ablation, Laparoscopic Ablation, Percutaneous Ablation
3) By Application: Kidney Cancer, Liver Cancer, Breast Cancer, Lung Cancer, Prostate Cancer
Subsegments:
1) By Radiofrequency Ablation: Monopolar Radiofrequency Ablation, Bipolar Radiofrequency Ablation
2) By Microwave Ablation: Single-Probe Microwave Ablation, Multi-Probe Microwave Ablation
3) By Cryoablation: Cryo-Needle Ablation, Cryo-Generator System Ablation
4) By Irreversible Electroporation Ablation: Transurethral IRE, Transperineal IRE, Percutaneous IRE
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Which Growth Factors Are Influencing Oncology Ablation Market Expansion?
The oncology ablation market is expected to grow as a result of an increasing number of cancer diagnoses. Factors such as aging populations, improved screenings, environmental influences, and better awareness have led to higher cancer detection rates. Oncology ablation, which treats tumors through minimally invasive methods, enhances patient outcomes. For example, the National Cancer Institute projected 2,001,140 new cancer cases in the US for 2024, with a projected increase to 29.9 million cases annually by 2040, thus accelerating market growth.
Who Are the Dominant Players Across Different Oncology Ablation Market Segments?
Major companies operating in the oncology ablation market are Medtronic plc, Siemens Healthineers AG, Becton Dickinson and Company, Koninklijke Philips N.V., Stryker Corporation, GE HealthCare Technologies Inc., Boston Scientific Corporation, Edwards Lifesciences Corporation, Varian Medical Systems Inc, PENTAX Medical, Elekta AB, Merit Medical Systems Inc, AtriCure Inc, AngioDynamics Inc., EDAP TMS S.A., Monteris Medical Inc., Misonix Inc., MedWaves Inc., BSD Medical Corporation, Cardiva Medical Inc.
What Trends Are Expected to Dominate the Oncology Ablation Market in the Next 5 Years?
Leading companies in the oncology ablation market are launching advanced ablation systems that offer high precision, integrated real-time imaging, and improved safety. These systems accurately target tumors while preserving surrounding tissues. In March 2024, Medtronic Plc, headquartered in Ireland, obtained FDA approval for its OsteoCool 2.0 system. This upgrade includes support for four internally cooled probes, allowing dual vertebral body treatment or larger ablation zones in non-spinal procedures.
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Which Geographic Regions Are Expected to Dominate the Oncology Ablation Market in the Coming Years?
North America was the largest region in the oncology ablation market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the oncology ablation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Oncology Ablation Market?
2. What is the CAGR expected in the Oncology Ablation Market?
3. What Are the Key Innovations Transforming the Oncology Ablation Industry?
4. Which Region Is Leading the Oncology Ablation Market?
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