Tumor Ablation Market - Forecasts from 2022 to 2027

The global tumor ablation market is evaluated at US$1.026 billion for the year 2020 and is projected to grow at a CAGR of 12.10% to reach a market size of US$2.284 billion by the year 2027.

An image-guided technique generally employed for the treatment of tumors and cancers in the lungs, kidneys, liver, bone, etc. is termed "tumor ablation". The high efficiency and cost-effectiveness offered by tumor ablation techniques are driving the demand for tumor ablation techniques in the global market. The tumor ablation technique is usually done by different means like cryoablation, radiofrequency ablation, microwave ablation, and others. The imaging technique employed in tumor ablation is providing efficient results in the diagnosis and prevention of tumors in the early stage. The rising cases of cancer and tumors are increasing the demand for tumor ablation techniques in the global market. The increasing awareness about cancer and the need to diagnose and treat cancer in its early stages is pushing the market value of tumor ablation techniques in the global market. The rise in the number of health and tumor treating specialty hospitals is increasing the availability of tumor ablation techniques to people. The efficiency in diagnosing and the cost-efficiency provided by tumor ablation is increasing the acceptability and applications of tumor ablation in the global market. The higher investment of major companies in the research and development sector of tumor ablation is also giving potential to the growth of the global tumor ablation market. The support offered by governments and governmental agencies is also increasing the acceptability and availability of tumor ablation techniques. The growing geriatric population and the increasing rate of tumors are also some of the important factors driving the growth of the global tumor ablation market.

The recent outbreak of the COVID-19 pandemic has restricted the growth of the global tumor ablation market. The public health emergency created by the COVID-19 pandemic harmed the market. As there was fear associated with going to hospitals and health clinics for diagnoses and check-ups, a decrease in demand for tumor ablation was witnessed. The prime focus of government agencies and companies on treating COVID and developing vaccines for the prevention of the COVID-19 pandemic has restricted the growth of the global tumor ablation market to a certain extent.

Rising Cases of Cancer

The rising cases of cancer and the increasing number of cancer patients are one of the major factors driving the growth of the global tumor ablation market. The lifestyle and modern diet of people have increased the rate of tumors and cancers in people. The rising cases of tumors have also resulted in the growing demand for treatment and diagnoses methods like tumor ablation in the global market. The data by the American Cancer Society states that about 1,762,450 new cases of cancer or tumors are diagnosed in the United States each year. The rising cases of cancer and mortality rates, due to cancer are increasing the demand for tumor ablation in the American market. The number of deaths due to cancer was reported as 606,880 in the United States by the American Cancer Society in its reports Less efficient diagnosis and treatment techniques are resulting in cancer and tumor deaths around the world. The WHO (World Health Organisation) claims that countries with less economic stability are showing more tumor and cancer cases compared to countries with high economic stability. The IUCC (International Union for Cancer Control) states that one in every 6 deaths around the globe is due to cancer or tumor. An approximate 70% mortality rate, due to cancer is reported in countries with less economic stability and development. The need for better diagnoses techniques and treatment methods is boosting the global tumor ablation market. The rising need and demand for tumor ablation techniques are pushing the market demand and market value of the global tumor ablation market.

Technological Advancements in Ablation Devices

The technological advancements and up-gradation in research and development techniques employed in ablation devices are stimulating the growth of the global tumor ablation market. The high research and development investments made by several companies are raising the market share of the tumor ablation market in the global healthcare and medical market. The continuous up-gradation and developments in the healthcare and medical fields globally are also pushing the market for tumor ablation techniques to a certain level. The introduction of cryoablation, microwave ablation, and other techniques has been certain discoveries that have boosted the global market of tumor ablation. The application of the latest technologies in treating and diagnosing cancer has upgraded the techniques of tumor ablation to a new level. According to reports by IUCC (International Union for Cancer Control), about 167 billion USD is spent on the research and development process in cancer treatment.

North America is expected to dominate the market in the forecasted years

Geographically, the North American region is expected to dominate the global tumor ablation market in the forecasted years. The increasing investments made by government organizations and several companies in the North American region in cancer treatment and diagnosis techniques are one of the factors boosting the growth of tumor ablation in the North American region. The increasing cases of tumors and cancers and the increasing rate of the geriatric population in the North American countries are also one of the major factors fuelling the market growth of the North American tumor ablation market.

Segmentation

• By Technology

Radiofrequency (Rf) Ablation

Microwave Ablation

Cryoablation

Other Technologies

• By Mode of Treatment

Surgical Ablation

Laparoscopic Ablation

Percutaneous Ablation

• By Application

Liver Cancer

Lung Cancer

Kidney Cancer

Bone Metastasis

Other Applications

• By Geography

North America

• USA
• Canada
• Mexico

South America

• Brazil
• Argentina
• Others

Europe

• Germany
• France
• UK
• Others

Middle East and Africa

• Saudi Arabia
• UAE
• Others

Asia Pacific

• China
• India
• Japan
• South Korea
• Taiwan
• Thailand
• Indonesia
• Others