The global tumor ablation market size is anticipated to reach USD 2.40 billion by 2026, and market is estimated to witness a healthy CAGR of 11.10% during the forecast period 2019 to 2026.
Increasing cancer incidence across the globe is the key driver for this market. About 13.0% of the population suffers from cancer each year, as per the statistics by the World Health Organization (WHO). Furthermore, the increase in the adoption of minimally invasive procedures owing to benefits such as less trauma, speedy recovery, and faster recovery of these procedures is anticipated to further propel the market growth.
The increasing demand for minimally invasive surgeries coupled with technological advancement in the thermal ablation field is anticipated to boost market growth. For instance, Usage of cooled radiofrequency denervation technique, a procedure that uses radiofrequency thermal energy to ablate sensory nerve fibers of the sacroiliac joint, with internally cooled radiofrequency probes to enlarge the size of the lesion. Similarly, in February 2015, SonaCare Medical LLC launched Sonalink - a remote patient monitoring platform, that can be used during HIFU procedures. In addition, the rising per capita income, especially in developing countries, is anticipated to increase the adoption of advanced ablation techniques, thus driving the market growth.
Supportive government initiatives for creating awareness about various cancer types is expected to facilitate usage of tumor ablation therapy. For instance, September is declared as National Prostate Cancer Awareness Month, for spreading awareness regarding prostate cancer in the U.S.
The report analyzes and forecasts the tumor ablation market at global and regional levels. The market has been forecast based on volume (Tons) and value (US$ Mn) from 2019 to 2026. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report comprises a detailed value chain analysis, which provides a comprehensive view of the global tumor ablation market. The Porter’s Five Forces model has also been included to help understand the competitive landscape of the market. The study encompasses market attractiveness analysis, wherein various applications have been benchmarked based on their market size, growth rate, and general attractiveness.
The study provides a decisive view of the tumor ablation market by segmenting it in terms of form and application. The segment has been analyzed based on the present and future trends. Regional segmentation includes the current and projected demand in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
The report provides size (in terms of volume and value) of tumor ablation market for the base year 2018 and the forecast between 2019 and 2026. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
The main objective of this report is to aid the user in understanding the market as a whole, its definitions, segmentation, market potential, influential trends, and the barriers that it is facing. Meticulous research and analysis were an important part of the report preparation. Those reading the report will be able to get a detailed understanding about the market. Industry experts have verified and checked the data and information that have been taken from credible sources like websites, annual reports of companies, journals, and other resources. In order give the facts and data a pictorial form, diagrams, graphs, pie charts, and other representations have been used. That augments the visual appeal of the report and makes understanding it much easier.
Competitive Landscape is the most valuable part of this report
Key players of this market are Galil Medical Inc., Misonix Inc., HealthTronics, Angiodynamics, (Covidien), Boston Scientific Corporation, Medtronic Plc. SonaCare Medical, EDAP TMS S.A. and Neuwave Medical Inc. These industry players have adopted various strategies to sustain their position in the market. For instance, New product launches, collaborations, technological advancements, mergers, and acquisitions are the key strategic initiatives in this industry. Similarly, Galil Medical Inc. launched a new family of cryoablation needles, IcePearl 2.1 CX, IceFORCE 2.1CX. The launch of these products is expected to strengthen the company’s product portfolio. Houston Methodist Hospital acquired EDAP's Focal One system in early 2019. This acquisition is based on the positive experience of the hospital post the acquisition of EDAP's Ablatherm system in 2016. Senior Vice President of Operations at the hospital stated that acquiring EDAP's HIFU technology not only benefits patients but also hospital financials.
Key financial developments of a particular company and product & company overview are some of the elements that help in acquiring information about top vendors in the market. This particular section has also included a SWOT analysis of the companies featured in the report. This will help the audience in knowing about opportunities, strengths, threats and weaknesses that are facing by the key vendors in the chemical and material industry across the world. As the competitive landscape is the most valuable part of any report, it consists of all the required information for the detailed study of top players functioning in the industries. It is also an interesting part to find how exactly these key manufacturers implement various strategies to secure the top rank in the industry. Such an in-depth information is useful for the new entrants into the industry as they would be able to learn a bit from these key vendors. Similarly, the information provided in the research report will also be valuable for the renowned key players as well, as they come to know the strategies of their counterparts to sustain in the competitive industry.
Irreversible electroporation ablation
Other ablation technologies
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
Primary research represents a bulk of research efforts, supplemented by extensive secondary research. Annual reports, press releases, and relevant documents of key players operating in various application areas have been reviewed for competition analysis and market understanding.
Secondary research also includes recent trends, technical writing, Internet sources, and statistical data from government websites, trade associations, and agencies. These have proved to be reliable, effective, and successful approaches for obtaining precise market data, capturing market participants’ insights, and recognizing business opportunities.
The study objectives of this report are:
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