Global Tumor Ablation Market - 2023-2030

Market Overview

The Global Tumor Ablation Market reached US$ 797.4 million in 2022 and is projected to witness lucrative growth by reaching up to US$ 2,079.2 million by 2030. The global tumor ablation market is expected to exhibit a CAGR of 13.1% during the forecast period (2023-2030).

Tumor ablation procedure can be performed under local anesthesia and is generally associated with fewer side effects than traditional cancer treatments like surgery, chemotherapy, or radiation therapy. Tumor ablation is used to treat various types of cancer, including liver cancer, lung cancer, kidney cancer, and bone cancer.

Advancements in ablation technologies, increasing prevalence of cancer, rising demand for minimally invasive procedures, and growing awareness about the benefits of tumor ablation over traditional cancer treatments are some of the factors expected to drive the tumor ablation market over the forecast period.

Market Dynamics

The Increasing FDA Approvals of the Tumor Ablation System are Boosting the Global Tumor Ablation Market Growth During the Forecast Period

In September 2022, Stryker, one of the world's leading medical technology companies, announced that its OptaBlate bone tumor ablation system (OptaBlate) received 510(k) clearance from the U.S. Food and Drug Administration. The addition of the OptaBlate technology to Stryker's Interventional Spine (IVS) portfolio expands on its core competencies in vertebral augmentation and radiofrequency ablation and completes its portfolio of treatment options for metastatic vertebral body fractures.

Additionally, in November 2020, Cleveland Clinic was the first hospital in the world to use a recently FDA-approved ablation technology that can destroy large liver tumors. The minimally invasive procedure uses a single needle connected to a powerful 150-watt microwave generator

Challenges Associated with the Tumor Ablation System are Hampering the Growth of the Global Tumor Ablation Market in the Forecast Period.

Radiofrequency ablation (RFA) is recommended for treating localized pain associated with metastatic spinal lesions, but there are still challenges in developing new RFA systems and using them in pediatric interventional radiology. The main challenge is to ensure that the RFA system is safe and effective for use in different types and locations of tumors.

The ablation zone created by the system should destroy the entire tumor while avoiding damage to surrounding healthy tissue. Moreover, it should be targeted accurately to the tumor location, which is particularly challenging in certain areas of the body such as the liver or lung. Hence, the above factors are expected to hamper the market growth over the forecast period.

COVID-19 Impact Analysis

The COVID-19 pandemic has had a significant impact on the tumor ablation market. In the short term, the market has been negatively affected due to the disruption of supply chains, delays in elective surgeries, and a decrease in patient visits to healthcare facilities. This has resulted in a decline in the demand for tumor ablation procedures and devices.

Furthermore, the ongoing development of novel ablation technologies, such as microwave and irreversible electroporation, is expected to drive growth in the market. These newer technologies offer advantages over traditional radiofrequency ablation systems, such as a larger ablation zone and increased precision in targeting tumors.

Russia-Ukraine Conflict Analysis

The tumor ablation market in Russia and Ukraine may be impacted by the ongoing political tensions between the two countries. In Ukraine, the conflict has resulted in a struggling healthcare system, which may lead to limited access to tumor ablation procedures and delay the adoption of newer ablation technologies.

In contrast, Russia has invested heavily in its healthcare system and the adoption of newer medical technologies. However, the economic sanctions and trade restrictions imposed on Russia have limit its access to newer ablation technologies and devices, affecting the market's growth.

Segment Analysis

The global tumor ablation market is segmented based on technology, application, treatment mode, and region.

The Liver Cancer Segment is Expected to Hold a Dominant Position in the Market Over the Forecast Period.

The liver cancer segment accounted for the highest market stake accounting for approximately 1/3 of the vaccines market in 2022. Tumor ablation offers several advantages for treating liver cancer, including minimally invasive, high success rates, versatility, and preservation of liver function. Furthermore, the high incidence of liver cancer, favorable reimbursement policies, and advances in ablation technologies are the factors expected to hold the largest market share over the forecast period.

For instance, in the United States, reimbursement policies play a significant role in the use of tumor ablation for liver cancer. The Centers for Medicare and Medicaid Services (CMS) have established reimbursement codes for various tumor ablation procedures, including those for liver cancer. This helps to ensure that patients who undergo these procedures can receive reimbursement from their insurance providers.

Geographical Analysis

The Increasing Prevalence of Cancer, Advancements in Technology, the Availability of Reimbursement for Tumor Ablation Procedures, and the Presence of A Well-Established Healthcare Infrastructure Dominate the North American Region.

North America is expected to dominate the tumor ablation market, accounting for around 1/3rd of this market, with the U.S. being the major contributor.

For instance, newer MWA systems such as directional microwave ablation (DMWA) offer more precise control over the ablation zone, reducing the risk of damage to nearby healthy tissue. Similarly, newer RFA systems with multiple electrodes and real-time temperature monitoring have improved the accuracy and efficacy of the procedure. Cryoablation systems with improved freezing probes and real-time imaging have also become more widely available.

Moreover, the integration of imaging technologies such as ultrasound, computed tomography (CT), and magnetic resonance imaging (MRI) with ablation systems has further improved the accuracy and efficacy of tumor ablation procedures. These technological advancements have expanded the clinical applications of tumor ablation, making it a viable treatment option for a wide range of tumor types and locations.

Hence, owing to the above factors, the North American region is expected to hold the largest market share over the forecast period.

Competitive Landscape

The major global players in the market include: Medtronic, PLC., AngioDynamics Inc., Boston Scientific Corporation, Healthtronics, Inc., BVM Medical Limited, COMSOL Inc., Galil Medical, Inc., INTIO Inc., Misonix, Inc., NeuWave Medical, Inc., and SonaCare Medical, LLC among others.

Why Purchase the Report?

• To visualize the global tumor ablation market segmentation based on the technology, application, treatment mode, and region and understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of tumor ablation market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as Excel consisting of key products of all the major players.

The global tumor ablation market report would provide approximately 61 tables, 60 figures, and 195 pages.

Target Audience 2023

• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies