SEATTLE--(BUSINESS WIRE)--According to Coherent Market Insights, the global bone tumor ablation devices market is estimated to be valued at US$ 56.2 million in 2020 and is expected to exhibit a CAGR of 10.2% during the forecast period (2020-2027).
Key Trends and Analysis of the Global Bone Tumor Ablation Devices Market:
Successful and multiple use of the microwave ablation technique for the treatment of various diseases is expected to increase the sales of bone tumor ablation devices worldwide, thereby strengthening the position of the companies in the global market. For instance, according to the doctors at National Taiwan University are successfully using microwave energy to minimally invasively treat tumors in the lung with higher local success rate of 84% compared to historical 67-78% reported, as of December 2019.
Major companies in the Europe region are involved in various growth strategies such collaboration, acquisition for research and development of new technology, in order to enhance their market presence. For instance, Medtronic plc acquired OsteoCool device technology from Baylis Medical in 2015.
Various key players in the market are entering the market through inorganic growth strategies such as mergers and acquisitions. For instance, in August 2020, Olympus Corporation announced signing of a definitive agreement to acquire Arc Medical Design Limited, a subsidiary of Norgine B.V. Under the agreement, Olympus will acquire Arc Medical Design and obtain full rights of its medical products. Post-acquisition, Olympus Corporation is planning to design, manufacture, and distribute the products worldwide.
Furthermore, rising adoption of ablation devices by the surgeons for treatment in different therapeutic categories is expected to drive growth of the market in the Middle East. For instance, in 2019, IceCure Medical, an Israel-based company, received Israeli AMAR authorization (an Israeli Ministry of Health’s medical device regulation unit) to use its freezing technology in treatment of benign and malignant tumors of bones, liver, lymphatic tissue, lymph nodes, and endocrine glands.
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Key Market Takeaways:
The global bone tumor ablation devices market is expected to exhibit a CAGR of 10.2% during the forecast period (2020-2027), owing to the rising prevalence of bone cancer, or rare bone disorders worldwide. For instance, according to the National Organization for Rare Disorders, Ewing sarcoma affects males more often than females. It may affect individuals of any age, but most often occurs in individuals between 10 and 20 years of age. The annual incidence of Ewing sarcoma is 2.93 children per 1,000,000 in the U.S. Around 200-250 children and adolescents in the U.S. are diagnosed with a tumor in the Ewing family of tumors, each year.
Key players in the North America bone tumor ablation devices market are focused on development of various bone tumor ablation devices, which is expected to drive growth of the market during the forecast period. For instance, in December 2015, DFINE, Inc., announced the commercial launch of its Long SpineSTAR Ablation Instrument. Long SpineSTAR is the latest innovation by the Silicon Valley medical device manufacturer and is part of the company’s flagship STAR Tumor Ablation System.
Key players operating in the global bone tumor ablation devices market include Medtronic Plc., Merit Medical Systems Inc., MedWaves Inc., AngioDynamics Inc., Olympus Corporation, Varian Medical Systems, Inc., Mermaid Medical A/S, RF Medical Co., Ltd., and Misomix Inc.
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Bone Tumor Ablation Devices Market Segmentation:
- Radiofrequency Ablation
- Microwave Ablation
- Ewing’s Sarcoma
- Metastatic Bone Cancer Bone Cancer Bone Cancer
By End User:
- Ambulatory Surgical Centers
- Specialty Clinics
- Rest of Europe
- South Korea
- Rest of Asia Pacific
- Rest of Latin America
- Rest of Middle East
- South Africa
- Central Africa
- North Africa
- North America
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