Tumor Ablation Market Size To Reach $1.5 Billion By 2022

Besides the use of thermal ablation, techniques such as laser ablation, irreversible electroporation, High Intensity Focused Ultrasonography (HIFU) are also clinically growing, concurrently propelling the tumor ablation industry.

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Occurrence of lung, breast, and liver cancer is on the rise globally. According to the Center for Disease Control (CDC) and other organizations, currently, about 210,828 cases of lung cancer, 2.9 million cases of breast cancer, and over 2.7 million cases of prostate cancer are reported in the U.S. alone.

In terms of technological advancement, companies such as SonaCare Medical are coupling ablation techniques with other technologies to improve accuracy, performance, and level of care. SonaLink, a remote patient monitoring platform, was put to use along with Sonatherm ablation system to enable physicians to enhance patient care experience, thereby promoting market growth.

The industry is also anticipated to witness mergers and joint collaborations as a tool to curb rising competition. For instance, Boston Scientific Corporation acquired C.R. Bard Electrophysiology, which led to a 48.0% hike in profit for the former company.

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The tumor ablation market is estimated to grow at a healthy CAGR during the forecast period (2015 to 2022). Major market drivers include cancer prevalence and ‘thermal ablation’ innovations. In fact, multiple cancer incidences positively affect market expansion. Over 100 cancers affect people globally. These need distinctive treatments, thus propelling market incomes.

Increasing elderly populace may also boost market growth. Demand for minimally invasive surgeries has augmented. This has led to quicker recovery & lower trauma for patients. Radiofrequency ablation procedures involve minimal invasiveness. Their escalating demand is also predicted to drive the tumor ablation market till 2022.

The market is categorized as per technologies, treatments, applications, and regions. Technologies are cryoablation, microwave, radiofrequency, and others. ‘Others’ comprises laser ablation, High-Intensity Focused Ultrasound (HIFU), radioiodine, etc. Radiofrequency was the dominant segment in 2015. Microwave is said to experience lucrative expansion in the near future. Its better efficiency coupled with least complications & process time should spur the segment.

Treatments are percutaneous, laparoscopic, and surgical. Surgical dominated the market in 2015. On the other hand, percutaneous will grow significantly from 2015 to 2022. This could be ascribed to wider demand for minimally invasive procedures. Applications of the tumor ablation market encompass various cancers.

These cancers affect the prostate, liver, lungs, head & neck, ENT (ears, nose, & throat), breasts, kidneys, and other parts. Liver cancer led the market in 2015. It may grow further during the forecast period. However, lungs are projected to experience significant growth in the near future. The same would be credited to smoking, air pollution, and inactive lifestyles.

Regions wise, the market is split into Asia-Pacific (APAC), the Middle East & Africa, Europe, Latin America, and North America. North America dominated the market in 2015. APAC should record the fastest CAGR in the coming seven years. This can owe to its improved medical infrastructure. Players of APAC are likely to benefit from financial expansions and huge populace in the region.

Key companies in the global tumor ablation market consist of Boston Scientific Corporation, HealthTronics, SonaCare Medical, and Neuwave Medical Inc. They attempt at working their way to the top through acquisitions, mergers, partnerships, product developments, and other innovations.

Further key findings from the study suggest:

Microwave ablation technology is expected to be the fastest growing segment over the forecast period at a CAGR of over 15.0%. Reduction in the procedure time and low cost for treatment are some of the attributes favoring growth.

In terms of treatment, surgical ablation is predicted to form the largest market by 2022 with about 35.0% share. Liver and lung cancer ablation require surgical procedures, and since these form the largest and fastest growing segments, they concomitantly propel surgical ablation growth.

Lung cancer forms the most lucrative market and is anticipated to be the fastest growing segment over the forecast period. By 2022, it is expected to contribute about 15.0% of the revenue share owing to its rising prevalence rate across the globe.

According to market forecast for 2022, North America is expected to dominate the market and Asia Pacific is anticipated to witness the fastest growth. Augmenting growth in the cancer prevalence and rising healthcare expenditure in regions such as China, Korea, and India are factors responsible for this rapid growth.

Major players of the market include HealthTronics, Galil Medical Inc., Angiodynamics, Medtronic Plc. (Covidien), Boston Scientific Corporation, SonaCare Medical, Misonix Inc., EDAP TMS S.A., and Neuwave Medical Inc. To retain market leadership, players such as Medtronic are working towards acquiring other companies and expanding their portfolio. For instance, in January 2016, Medtronic acquired the OsteoCool RF Ablation System from Baylis Medical.

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