The global tumor ablation market size was valued at USD 646.4 million in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 13.2% from 2021 to 2028. The rising prevalence of cancer and the high demand for safer therapeutic options are major factors contributing to the growth of the market.
Tumor ablation is known to be a minimally invasive image-guided technique that is utilized in the treatment of tumors in the liver, lung, kidney, bone, and soft tissue. It is considered a first-line treatment for patients with small hepatocellular carcinomas or benign tumors in the liver.
According to a report by the Our World in Data (OWD), a project by Global Change Data Lab, over 70.0% of cancer cases occur in people aged 50 years and older in 2017. The number is expected to increase proportionally with the rising geriatric population. The aging population comprises the main target population for noninvasive ablation techniques as the body’s biological functions get compromised with aging. Therefore, the rapidly increasing aging population is expected to boost the demand for tumor ablation techniques during the forecast period.
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This tumor ablation market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, the impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the tumor ablation market, contact Data Bridge Market Research for an Analyst Brief. Our team will help you take an informed market decision to achieve market growth.
Key Player Mentioned:
Galil Medical Inc.
Misonix Inc.
HealthTronics
Mermaid Medical
Theraclion
Chongqing Haifu Medical Technology Co., Ltd.
Product Segment Analysis:
- Surgical ablation
- Laparoscopic ablation
- Percutaneous ablation
Application Segment Analysis:
Kidney Cancer
Liver cancer
Breast cancer
Lung cancer
Prostate cancer
Regional Segment Analysis:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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According to the NCBI report, percutaneous ablations are not feasible in about 25-55% of patients due to unfavorable tumor locations. The tumor recurrence rate is higher in percutaneous ablation, due to insufficient ablation of the tumors located deep inside the tissue. Additionally, percutaneous ablation is contraindicated in treating lesions that are very adjacent to the gastrointestinal tract, gall bladder, bile duct, and heart due to a high risk of tumor recurrence. Therefore, in such a case, laparoscopic ablation is efficient in providing long-term outcomes while simultaneously retaining minimal invasiveness. This is expected to boost the laparoscopic ablation segment growth during the forecast period.
COVID-19 Impact:
The outbreak of the COVID-19 pandemic has significantly increased the demand for antiviral medicines globally. The treatment of novel coronavirus has increased the demand for broad-spectrum Glucose to manage the disease. Remdesivir, favipiravir, oseltamivir, and other combination medicines are highly prescribed for the treatment of COVID-19. Moreover, governments are increasing funding to pharmaceutical companies to develop novel therapeutics against COVID-19. For instance, in June 2021, the U.S. government has announced an investment of more than USD 3 billion to fasten the discovery, development, and manufacturing of antiviral medicines for COVID-19 treatment. The rising incidence of disease coupled with increasing R&D will increase the demand for Glucose in the next 2 to 3 years.
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About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
