Global Tumor Ablation Market Size, Share, Growth Analysis, By Technology(Radiofrequency Ablation, Microwave Ablation), By Treatment(Surgical Ablation, Laparoscopic Ablation), By Application(Kidney Cancer, Liver Cancer) - Industry Forecast 2024-2031

Global Tumor Ablation Market size was valued at USD 1.48 Billion in 2022 and is poised to grow from USD 1.68 Billion in 2023 to USD 4.63 Billion by 2031, by rising at a CAGR 13.5% during the forecast period (2024-2031).

Two key factors propelling market expansion are the rising incidence of cancer and the strong need for safer treatment options. The World Health Organization (WHO) projects that 10-11 million new cases of cancer will be diagnosed worldwide annually by 2030. It is projected that the rate of new cancer cases in low-income countries would increase by over 80%, while the rate in high-income countries will climb at a rate of half (40%). The market is expected to be driven in the upcoming years by a strong need for minimally invasive and non-invasive therapies, as well as by lucrative potential for development in already available therapeutic choices.

Over the projection period, there will likely be an increase in demand for advanced tumor ablation technologies due to surgeons' and patients' rising preference for minimally invasive procedures because of advantages such quicker recovery times, more patient comfort, and shorter turnaround times. Advanced tumor ablation operations are significantly less expensive overall since they are typically performed as outpatient procedures without a hospital stay, in contrast to traditional therapy. For small tumors, adjuvant surgeries are the main course of treatment. Thus, annual cancer detection rates have an indirect impact on its procedure number. 2020 saw a substantial influence on the market as fewer new cancer cases were diagnosed during COVID-19 as a result of fewer screenings conducted by relevant authorities.

In a survey conducted by Global Change Data Lab's Our World in Data (OWD) initiative, people over 50 accounted for more than 70% of cancer diagnoses. The number is probably going to increase in lockstep with the aging population. When it comes to noninvasive ablation operations, the aging population is the major target group because as people age, their basic systems weaken. Therefore, over the projection period, it is anticipated that the growing aging population will increase demand for tumor ablation procedures.

Technologies that increase precision, portability, and economy of cost are what push market players to continuously innovate and introduce cutting-edge products. These technological advancements include cryoablation, HIFU, and image-guided devices. The use of the cooled radiofrequency degeneration technique with externally chilled radiofrequency probes to expand the size of the lesion is one of the forthcoming approaches that is anticipated to play a major role in market expansion. Pain can be relieved by this treatment, which permits complete degeneration of the sacroiliac joint.

Top-down and bottom-up approaches were used to estimate and validate the size of the Global Tumor Ablation Market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.

Global Tumor Ablation Market Segmental Analysis

Based on end user, region, technology, and application, the global market for tumor ablation is divided into segments. The market is divided into segments according to technology: cryoablation, irreversible electroporation ablation, microwave ablation, radiofrequency ablation, and other ablation methods. The market is divided into three segments based on the type of ablation: percutaneous, laparoscopic, and surgical. The market is divided into categories for kidney cancer, liver cancer, breast cancer, lung cancer, prostate cancer, and other cancers based on the application. The global market for tumor ablation is divided into five regions: North America, Europe, Asia-Pacific, South America, and MEA.

Drivers of the Global Tumor Ablation Market

The market for tumor ablation is significantly influenced by the increased incidence of cancer worldwide, especially in relation to lung, liver, kidney, and breast malignancies. For patients who may not be good candidates for surgery, tumor ablation procedures provide minimally invasive alternatives to surgery for the treatment of localized tumors.

Restraints in the Global Tumor Ablation Market

Procedures for tumor ablation can be costly, particularly when cutting-edge technologies and imaging guidance are used. Tumor ablation treatments may not be as widely available in developing countries due to the high cost of specialist healthcare personnel, equipment, and consumables.

Market Trends of the Global Tumor Ablation Market

Technological Developments: The market for tumor ablation is seeing a steady stream of technological developments that are resulting in the creation of more sophisticated and accurate ablation methods. These developments include the utilization of robotic systems for increased accuracy, the creation of new energy sources for ablation, and the integration of imaging modalities for real-time guidance. Tumor ablation operations are now safer and more effective because to these technological improvements.

Growing Adoption of Minimally Invasive Procedures: Compared to standard surgical techniques, minimally invasive tumor ablation procedures are becoming more and more common. The use of minimally invasive procedures is being fueled by its benefits, which include fewer incisions, shorter hospital stays, quicker healing times, and a decreased risk of complications. As a less intrusive therapeutic alternative, minimally invasive tumor ablation techniques are becoming more and more popular among patients and healthcare professionals.

Growth in Cancer Prevalence: The market for tumor ablation is significantly influenced by the rising prevalence of cancer in the world. The increasing number of cancer cases, including those of the liver, lung, kidney, and prostate, is driving up need for efficient treatment solutions. When treating localized tumors, tumor ablation techniques present a less invasive alternatives to surgery, making them a feasible therapeutic option for patients who might not be good candidates for surgery.

Growing Interest in Precision Medicine: In oncology, precision medicine-which entails customizing treatment based on unique patient characteristics-is becoming more and more popular. Because tumor ablation techniques can target particular tumor areas while protecting healthy tissues, they are a good fit with the precision medicine principles. Tumor ablation is a desirable treatment method in the era of precision medicine because it can give targeted therapy with little effect on neighboring tissues.