This study incorporates an explanation of the key drivers and challenges, industry participants, and application segments, devised by analyzing key information about the global market space.
Tumor Ablation Market: Information by Technology (Radiofrequency, Microwave), Treatment (Surgical, Percutaneous), Application (Liver cancer, Lung cancer), By End User (Hospital, Surgical and Ablation Centers) – Global Forecast Till 2023
The global Tumor Ablation Market is proceeding towards a substantial valuation with 12.8% CAGR during the forecast period of 2018 to 2023. Market Research Future (MRFR) revealed several factors in the process that can impact the market outcome in the coming years.
Factors like the rising prevalence of cancer are playing a crucial role in taking the market forward. On the other hand, better expenditure for research works, the inclusion of top-class technologies, and others are expected to boost the market prospect. In developed countries, advanced technologies are making the procedure easier. In developing countries, scopes for expansion are getting better with revamping the healthcare sector.
However, the cost associated with the procedure may create obstacles for further market growth.
Segmentation:
The global tumor ablation market, as per the MRFR analysts, has been segmented with a special focus on technology, application, treatment, and end-user. This creates scope for better market understanding as it reveals insights based on a detailed study of factors, dynamics, and demographic changes.
By technology, the study on the tumor ablation market has been segmented into the microwave, cryoablation, irreversible electroporation, radiofrequency, and others. The microwave segment is getting traction from several research teams.
By treatment, the global market for tumor ablation can be studied on the basis of percutaneous, surgical, and laparoscopic.
By application, the global study on tumor ablation can be segmented on the basis of lung cancer, breast cancer, liver cancer, prostate cancer, bone cancer, and others. Growing prevalence of cancer can promote the use of the system.
By end-user, the study related to the tumor ablation market has been segmented into surgical and ablation centers, hospitals, and research institutes. Growing number of surgical and ablation centers are expected to boost the market presence.
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Regional Analysis:
The Americas would lead the market with their rising inclusion of latest technologies, better healthcare structure, the influx of investment, and others. The US and Canada would influence the regional market. However, the presence of poor economies in Southern America can make the growth a bit sluggish. In Europe, government investment in research works and boosts from various healthcare schemes are expected to impact the market. In the Asia Pacific region, this growth would gain precedence in China, Japan, Singapore, India, and others.
Competitive Landscape:
The global market for tumor ablation can benefit from various companies like EDAP TMS, Misonix Inc., SonaCare Medical, Medtronic Plc., Healthtronics Inc., Neuwave Medical, Inc., AngioDynamics Inc., Biotronik, Galil Medical, Inc, Boston Scientific Corporation, and Covidien PLC. These companies are known for their superlative performances in the sector where they use myriad opportunities to boost their market presence and expand their operations. These opportunities are often triggered by various mergers, acquisitions, and collaborations. These opportunities also get backed by a hike in investment for research and development that increases the chance of new product launches and provides scope for better market presence. MRFR recorded these moves to understand how the market would proceed in the coming years.
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Industry News:
In May 2020, researchers revealed that the MedWaves AveCure microwave ablation procedure is now getting high traction in treating people with a brain tumor. The recent treatment of a patient in Guadalajara, Mexico, is a successful example of the procedure owing to which the company is now expecting a better thrust for the product from institutes across the world. The MRI post-operation shows a significant reduction in the size of the tumor and doctors are suggesting that the patient can now resume his regular activities with minor symptoms.
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