Market
Highlights:
Tumor ablation is a technique of removal of cancer tissue or cells
of kidney, liver, bone, and
soft tissue with invasive procedure. It is considered as excellent
and convenient treatment option over other conventional surgical techniques.
Factors that are propelling the growth of the tumor ablation market are surge
in geriatric population, increase in prevalence of different types of cancer,
rise in adoption of minimally invasive surgical procedures, increasing research
and development in healthcare and advancement in technologies. According to the
International Federation of Pharmaceutical Manufacturers & Associations,
global pharmaceutical industry has spent more than USD 149.8 billion on
pharmaceutical Research and development activities.
The cost containment policies by various governments, stringent
regulatory environment for product approval, and scarcity of experts are likely
to hinder market growth during the forecast period.
Regional Analysis:
The American market is expected
to dominate the global tumor
ablation market during the forecast period due to the increase in number of
cancer cases along with growing geriatric population, adoption of advance
technology in healthcare, and favorable reimbursement and regulatory
authorities. The European market is expected to be the second-largest due
to increased pool of cancer
patients and rising healthcare expenditure. Moreover, the market in
Asia-Pacific is anticipated to be the fastest-growing during the forecast
period owing to the increasing geriatric population in countries such as India
and China, government initiatives and investment for the development of
healthcare sector. The market in the Middle East & Africa is likely to
account for the smallest share of the global tumor ablation market.
Segmentation:
The Global Tumor
Ablation Market has been segmented on the basis of technology, treatment,
application, and end-user.
The technology segment has been segregated into
Radiofrequency, Microwave, Irreversible Electroporation, Cryoablation and
others.
On the basis of treatment, the market has been classified as
surgical, percutaneous and laparoscopic.
The tumor ablation market, by application, has been segmented
into Liver cancer, Lung cancer, Breast cancer, Bone cancer, Prostate cancer and
others.
End-user segment is divided into hospitals, surgical and
ablation centers, and research institute.
Key Players:
Some of the
key players in the global tumor ablation market are SonaCare Medical, Medtronic
Plc., EDAP TMS, AngioDynamics Inc., Healthtronics Inc., Neuwave Medical, Inc.,
Boston Scientific Corporation, Biotronik, Galil Medical, Inc, Misonix Inc., and
Covidien PL
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