DUBLIN--(BUSINESS WIRE)--The "Global Tumor Ablation Market Research and Forecast, 2022-2028" report has been added to ResearchAndMarkets.com's offering.
The global tumor ablation market is anticipated to grow at a substantial CAGR of around 12.7% during the forecast period. The increasing prevalence of cancer diseases is one of the prominent factors driving the market growth.
Companies Mentioned
- Afreeze GmbH
- Alpinion Medical Systems
- Atricure
- ATS Medical, Inc.
- Biosig Technologies, Inc.
- Biotronik Se & Co. Kg
- Boston Scientific Corp.
- BTG plc
- BVM Medical Ltd
- Erbe Elektromedizin GmbH
- Healthtronics, Inc.
- Hologic Inc.
- Icecure Medical Ltd
- Integra Lifesciences
- Koninklijke Philips N.V
- Medtronic Plc
- Medwaves Inc.
- Pentax Medical
- Stryker
Furthermore, various advantages offered by tumor ablation techniques such as speedy recovery, reduced complication, and shorter hospitals stay, the technique is gaining traction in coming years. Tumor ablation refers to a minimally invasive (MI) technique used for the treatment of tumors of the kidney, liver, and lungs. It is conducted through microwave ablation, radiofrequency ablation, cryoablation, and others.
Moreover, the rising number of brain tumors, and government initiatives to create awareness related to various cancers, boost the market growth. Brain tumors comprise a wide range of central nervous system tumors that ranges from non-malignant tumors to most complex cancers such as glioblastoma and diffuse intrinsic pontine glioma.
According to the National Brain Tumor Society, an estimated 700,000 people in the US are living with a primary brain tumor, and nearly 90,000 more is diagnosed in 2022. Moreover, the average survival rate for all malignant brain tumor patients is only 36%, and it is one of the major causes of death in children and young adults aged 19 and younger.
The global tumor ablation market is segmented on the basis on technology, application, and end user. Based on technology, the market is sub-segmented into radio frequency ablation, microwave ablation, cryoablation, and percutaneous ethanol ablation. Based on application, the market is bifurcated into liver cancer, lung cancer, breast cancer, prostate cancer, and others. Based on end user, the market is sub-divided into hospitals, surgical clinics, and research institutions.
Based on technology, the microwave ablation segment is holding a major share from its inception. Microwave ablation systems are gaining popularity over conventional surgeries to treat or destroy cancerous cells, and this procedure offers many advantages over conventional and other techniques, which increases the demand for microwave ablation in coming years.
Geographically market is segmented into North America, Europe, Asia Pacific, and the Rest of the World. The European region is anticipated to grow at the fastest rate; presence of immense healthcare institutions, and the availability of advanced and innovative technological medical tools and devices for the tumor treatment, enhances the growth of the global tumor ablation market in the region.
Moreover, the insurance coverage and benefits given by key insurance companies such as, Axa, Allianz SE, and Zurich Insurance Group, to people for treating major diseases which include tumor and diabetes, results in boosting the market growth.
The major companies serving the global tumor ablation market are Boston Scientific Corp., BTG plc, BVM Medical Ltd., Erbe Elektromedizin GmbH, Healthtronics, Inc., Hologic Inc., and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers and acquisitions, collaborations, funding, and new product launches, to stay competitive in the market.
For instance, in February 2022, Engenious and Precision Microwave have developed a new system for minimally invasive thermal ablation treatment for cancers, a novel treatment tool with the ability to reduce the risk of tumors. Thermal ablation is a type of procedure that uses heat, cold, microwave, and electrical currents to vaporize cancer cells and tumors.
The Report Covers
- Comprehensive research methodology of the global tumor ablation market.
- This report also includes a detailed and extensive market overview with key analyst insights.
- An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
- Analysis of regional regulations and other government policies impacting the global tumor ablation market.
- Insights about market determinants that are stimulating the global tumor ablation market.
- Detailed and extensive market segments with the regional distribution of forecasted revenues.
- Extensive profiles and recent developments of market players.
Key Topics Covered:
1. Report Summary
2. Market Overview and Insights
2.1. Scope of the Report
2.2. Analyst Insight & Current Market Trends
2.2.1. Key Findings
2.2.2. Recommendations
2.2.3. Conclusion
3. Competitive Landscape
3.1. Key Company Analysis
4. Market Segmentation
4.1. Global Tumor Ablation Market by Technology
4.2. Global Tumor Ablation Market by Application
4.3. Global Tumor Ablation Market by End-User
5. Regional Analysis
6. Company Profiles
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