Industry Background:
The tumor ablation is a minimally invasive technique that is commonly used in the treatment of tumors of the liver, kidney, bone and lung. It is an important option for people who have failed chemotherapy or radiotherapy or are not surgical candidates. It is also being considered a potential first-line treatment in many patients with small hepatocellular or benign tumors in the liver.
According to AMA Research, the market for Tumor Ablation is expected to register a CAGR of 11.9% during the forecast period to 2027. This growth is primarily driven by Increase in the Prevalence of the Cancer Worldwide
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Attributes | Details |
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Study Period | 2017-2027 |
Base Year | 2021 |
Forecast Period | 2022-2027 |
Volume Unit | N |
Value Unit | USD (Million) |
Key Companies in Study | Boston Scientific Corporation (United States), Angiodynamics, Inc. (United States), Galil Medical, Inc. (United States), EDAP TMS S.A. (France), Healthtronics, Inc. (United States), Medtronic, Plc (United States), Mesonix, Inc. (United States), Sonacare Medical, LLC (United States), Mermaid Medical, Inc. (Denmark) and Neuwave Medical, Inc. (United States) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
The Health Care Technology sector in the Asia Pacific region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Players, such as Boston Scientific Corporation (United States), Angiodynamics, Inc. (United States), Galil Medical, Inc. (United States), EDAP TMS S.A. (France), Healthtronics, Inc. (United States), Medtronic, Plc (United States), Mesonix, Inc. (United States), Sonacare Medical, LLC (United States), Mermaid Medical, Inc. (Denmark) and Neuwave Medical, Inc. (United States) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
In 2022, Quantum Surgical is 510(k)-approved by the U.S. Food and Drug Administration (FDA) for Epione, which enables clinicians to perform safe and efficient percutaneous tumor resection., In 2021, Bioventus Inc. has acquired Misonix, Inc., a supplier of minimally invasive therapeutic ultrasound technology and regenerative medicine that improves clinical outcomes. Mixonix offers SonaSrar tumor resection solutions to help speed up surgery and help with precise soft tissue removal. and In 2021, Boston Scientific Corporation has acquired the remaining interest in Farapulse, Inc. This acquisition is associated with atrial fibrillation (AF) and other cardiac arrhythmias.
In 2022, IceCure Medical Ltd. has submitted a regulatory filing to the Brazilian Health Regulatory Agency (“ANVISA”) for approval of ProSense, an advanced liquid nitrogen-based cryoablation therapy for the treatment of tumors (benign and cancerous) by freezing. It focuses on breast cancer, kidney cancer, bone and lung cancer., In 2021, Medtronic plc has received Breakthrough Device Designation status from the US Food and Drug Administration (FDA) for the Emprint Ablation Catheter Kit. The FDA Innovative Devices Program aims to provide patients access to breakthrough technologies that have the potential to improve the treatment or diagnosis of life-threatening or irreversibly debilitating diseases and disorders. and In 2020, SonaCare Medical has received regulatory approval from the National Medical Products Administration (NMPA), formerly known as the Chinese FDA, for the Sonablate HIFU device used to treat prostate cancer and benign prostatic hyperplasia (BPH).
Market Drivers
- Increase in the Prevalence of the Cancer Worldwide
- Technological Advancements in the Tumor Ablation Technique
- Growing Awareness about Cancer Treatment among the People
- Increase in Healthcare Expenditure
Market Trend
- Demand for Innovative Techniques for Cancer Treatment
Restraints
- Unfavorable regulatory policies adopted by various governments are restraining market growth.
Opportunities
Development of Healthcare Infrastructure in Emerging Economies, Development of New Diagnostic Centre and Hospitals and Growing Geriatric Population Worldwide
Challenges
Exorbitant Cost of Tumor Ablation Technique
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Players landscape impacting the growth of the market. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Tumor Ablation Study Sheds Light on
The Tumor Ablation Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Tumor Ablation industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Tumor Ablation industry is heading and what are the top priorities. Insights are drawn from financial analysis, the survey, and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.