The global Tumor Ablation market gathered revenue around USD 650 Million in 2020 and market is set to grow USD 2.0 Billion by the end of 2027 and is estimated to expand at a modest CAGR of 12.9% during the prediction period 2021 to 2027.
Growth Factors:
The market Tumor ablation refers to a minimally invasive (MI) technique that is conducted to treat tumors of the kidney, liver, bones and lungs. The ablation system consists of a generator and a needlelike device that delivers the heat directly to the target cells to cause acute cellular necrosis. The procedure destroys benign tumors by inserting a probe and heating it to 100-degree Celsius under Precise Computer Tomography, without extracting them from the body. It can be conducted through Microwave Ablation, Radiofrequency Ablation, Cryoablation, etc. It provides increased accuracy and covers a larger treatment area, along with minimal pain and risk to the patient upon repeated administrations.
The increasing prevalence of cancer is one of the key factors driving the growth of the market. Furthermore, owing to benefits such as the lesser amount of trauma, speedy recovery, reduced complications and shorter hospital stay, MI procedures are gaining widespread preference, which, in turn, is driving the market growth. Also, various technological advancements such as the introduction of thermal and laser ablation, irreversible electroporation and High-Intensity Focused Ultrasound (HIFU) have enhanced the acceptance of tumor ablation procedures. Moreover, the implementation of favorable government policies for cancer awareness and treatment methods is also creating a positive outlook for the market
This research report purposes at stressing the most lucrative growth prospects. The aim of the research report is to provide an inclusive valuation of the Tumor Ablation market and it encompasses thoughtful visions, actualities, industry-validated market findings, historic data, and prognoses by means of appropriate set of assumptions and practice. Global Tumor Ablation market report aids in comprehending market structure and dynamics by recognizing and scrutinizing the market sectors and predicted the global market outlook.
Report Coverage
Report Scope | Details |
Market Size | USD 2.0 Billion by 2027 |
Growth Rate | CAR 12.9% From 2021 to 2027 |
Base Year | 2020 |
Forecast Period | 2021 to 2027 |
Largest Market | North America |
Fastest Growing Market | Asia Pacific |
Segments Covered | Product, synthesis, drug, application, workflow and Region |
Report coverage | Growth Factors, Revenue Status, Competitive Landscape, and Future Trends |
Companies Mentioned | Galil Medical Inc.; Misonix Inc.; HealthTronics; Mermaid Medical; Theraclion; Chongqing Haifu Medical Technology Co., Ltd.; HS Hospital Service S.P.A; EDAP TMS S.A. |
COVID-19 Impact Assessment on Market Landscape
The report comprises the scrutiny of COVID-19 lock-down impact on the income of market leaders, disrupters and followers. Since lock down was instigated differently in diverse regions and nations, influence of same is also dissimilar across various industry verticals. The research report offers present short-term and long-term influence on the market to assist market participants across value chain makers to formulate the framework for short term and long-lasting tactics for recovery and by region.
Tumor Ablation market Report empowers readers with all-inclusive market intelligence and offers a granular outline of the market they are operational in. Further this research study delivers exceptional combination of tangible perceptions and qualitative scrutiny to aid companies accomplishes sustainable growth. This report employs industry-leading research practices and tools to assemble all-inclusive market studies, intermingled with pertinent data. Additionally, this report also emphases on the competitive examination of crucial players by analyzing their product portfolio, pricing, gross margins, financial position, growth approaches, and regional occurrence.
Growing Government and NGO Initiative to Boost Growth of Global Tumor Ablation Market
The global tumor ablation market is likely to register significant growth due to growing awareness among the consumers regarding the new line therapy for the treatment of cancer. Increasing public awareness about the cancer and growing supportive program by the NGO’s and government to supplement growth of the global tumor ablation market in the coming years. In addition, government is actively participating in several research related product to supplement growth of this market in the near future. Moreover, growing acceptance of several technologies is propagating growth of this market in coming years.
Increase in elderly population is boosting demand for minimally invasive surgeries as these technologies helps in reducing the distress with quick recovery. This further fuels the demand for the minimal invasive process such as radiofrequency ablation associated to invasive processes. Furthermore, increase in disposable income in developing and developed economies helping the consumer to prefer progressive therapies over the conventional one. This is one of the key trend supporting growth of the global tumor ablation market in the coming years.
Regional analysis:
North America dominated the tumor ablation market and accounted for the largest revenue share of 35.2% in 2020. Major factors contributing to the growth of this region include government support for quality healthcare, high purchasing power parity, availability of reimbursements, and increasing prevalence of cancer. For instance, in the U.S., the Patient Protection and Affordable Care Act (PPACA) promotes the quality and affordability of health care through health coverage policies, which reduces the cost of healthcare for individuals and the government. In addition, the precision medicine initiative in formulating tailored strategies on unique characteristics of diseases. Hence, such government initiatives are anticipated to improve the overall healthcare system, thus boosting the market growth.
Europe followed North America in terms of revenue share in 2020. A greater extent of public funding in Europe’s healthcare system has contributed to this growth. Moreover, the growing geriatric population coupled with government support to control cancer is estimated to boost the market growth in this region. For instance, the European Cancer Observatory aims to create awareness about cancer, early diagnostic techniques, and advanced, minimally invasive therapeutic options.
In Asia Pacific, the market is expected to register the fastest growth rate during the forecast period. Expanding patient population and a growing presence of major healthcare providers in rapidly developing economies such as India and China open growth opportunities. In addition, with government assistance, healthcare utilization in the Asia Pacific is improving. For instance, the Indian government provides financial assistance for poor patients suffering from cancer under the Health Minister Cancer Patient Fund (HMCPF) scheme. This is anticipated to fuel the demand for tumor ablation devices in this region over the forecast period.
Competitive Rivalry
Foremost players in the market are attentive on adopting corporation strategies to enhance their market share. Some of the prominent tactics undertaken by leading market participants in order to sustain the fierce market completion include collaborations, acquisitions, substantial spending in R&D and the improvement of new-fangled products or reforms among others.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
Some of the prominent players in the Tumor Ablation Market include: Galil Medical Inc.; Misonix Inc.; HealthTronics; Mermaid Medical; Theraclion; Chongqing Haifu Medical Technology Co., Ltd.; HS Hospital Service S.P.A; EDAP TMS S.A.
Unravelling the Critical Segments
This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects including product type, application/end-user, and region. Further, this research study investigates market size, production, consumption and its development trends at global, regional, and country level for period 2017 to 2027 and covers subsequent region in its scope:
By Geography
North America
Europe
Asia Pacific
Latin America
Middle East & Africa (MEA)
Highlights of the Report:
Research Methodology
In the study, a unique research methodology is utilized to conduct extensive research on the growth of the Tumor Ablation market, and reach conclusions on the future growth parameters of the market. This research methodology is a combination of primary and secondary research, which helps analysts ensure the accuracy and reliability of the conclusions.
Secondary resources referred to by analysts during the production of the Tumor Ablation market study are as follows - statistics from government organizations, trade journals, white papers, and internal and external proprietary databases. Analysts have also interviewed senior managers, product portfolio managers, CEOs, VPs, marketing/product managers, and market intelligence managers, all of whom have contributed to the development of this report as a primary resource.
Comprehensive information acquired from primary and secondary resources acts as a validation from companies in the market, and makes the projections on the growth prospects of the Tumor Ablation markets more accurate and reliable.
Secondary Research
It involves company databases such as Hoover's: This assists us recognize financial information, structure of the market participants and industry competitive landscape.
The secondary research sources referred in the process are as follows:
Primary Research
Primary research includes face-to face interviews, online surveys, and telephonic interviews.
Industry participants involved in this research study include:
Key Points Covered in Tumor Ablation market Study:
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. Market Dynamics Analysis and Trends
5.1. Market Dynamics
5.1.1. Market Drivers
5.1.2. Market Restraints
5.1.3. Market Opportunities
5.2. Porter’s Five Forces Analysis
5.2.1. Bargaining power of suppliers
5.2.2. Bargaining power of buyers
5.2.3. Threat of substitute
5.2.4. Threat of new entrants
5.2.5. Degree of competition
Chapter 6. Competitive Landscape
6.1.1. Company Market Share/Positioning Analysis
6.1.2. Key Strategies Adopted by Players
6.1.3. Vendor Landscape
6.1.3.1. List of Suppliers
6.1.3.2. List of Buyers
Chapter 7. Global Tumor Ablation Market, By Technology
7.1. Tumor Ablation Market, By Technology, 2021-2027
7.1.1. Radiofrequency ablation
7.1.1.1. Market Revenue and Forecast (2016-2027)
7.1.2. Microwave ablation
7.1.2.1. Market Revenue and Forecast (2016-2027)
7.1.3. Cryoablation
7.1.3.1. Market Revenue and Forecast (2016-2027)
7.1.4. Irreversible electroporation ablation
7.1.4.1. Market Revenue and Forecast (2016-2027)
7.1.5. Other ablation technologies
7.1.5.1. Market Revenue and Forecast (2016-2027)
Chapter 8. Global Tumor Ablation Market, By Treatment
8.1. Tumor Ablation Market, By Treatment, 2021-2027
8.1.1. Surgical ablation
8.1.1.1. Market Revenue and Forecast (2016-2027)
8.1.2. Laparoscopic ablation
8.1.2.1. Market Revenue and Forecast (2016-2027)
8.1.3. Percutaneous ablation
8.1.3.1. Market Revenue and Forecast (2016-2027)
Chapter 9. Global Tumor Ablation Market, By Application
9.1. Tumor Ablation Market, By Application, 2021-2027
9.1.1. Kidney Cancer
9.1.1.1. Market Revenue and Forecast (2016-2027)
9.1.2. Liver cancer
9.1.2.1. Market Revenue and Forecast (2016-2027)
9.1.3. Breast cancer
9.1.3.1. Market Revenue and Forecast (2016-2027)
9.1.4. Lung cancer
9.1.4.1. Market Revenue and Forecast (2016-2027)
9.1.5. Prostate cancer
9.1.5.1. Market Revenue and Forecast (2016-2027)
9.1.6. Other cancer
9.1.6.1. Market Revenue and Forecast (2016-2027)
Chapter 10.Global Tumor Ablation Market, Regional Estimates and Trend Forecast
10.1. North America
10.1.1. Market Revenue and Forecast, By Technology (2016-2027)
10.1.2. Market Revenue and Forecast, By Treatment (2016-2027)
10.1.3. Market Revenue and Forecast, By Application (2016-2027)
10.1.4. U.S.
10.1.4.1. Market Revenue and Forecast, By Technology (2016-2027)
10.1.4.2. Market Revenue and Forecast, By Treatment (2016-2027)
10.1.4.3. Market Revenue and Forecast, By Application (2016-2027)
10.1.5. Rest of North America
10.1.5.1. Market Revenue and Forecast, By Technology (2016-2027)
10.1.5.2. Market Revenue and Forecast, By Treatment (2016-2027)
10.1.5.3. Market Revenue and Forecast, By Application (2016-2027)
10.2. Europe
10.2.1. Market Revenue and Forecast, By Technology (2016-2027)
10.2.2. Market Revenue and Forecast, By Treatment (2016-2027)
10.2.3. Market Revenue and Forecast, By Application (2016-2027)
10.2.4. UK
10.2.4.1. Market Revenue and Forecast, By Technology (2016-2027)
10.2.4.2. Market Revenue and Forecast, By Treatment (2016-2027)
10.2.4.3. Market Revenue and Forecast, By Application (2016-2027)
10.2.5. Germany
10.2.5.1. Market Revenue and Forecast, By Technology (2016-2027)
10.2.5.2. Market Revenue and Forecast, By Treatment (2016-2027)
10.2.5.3. Market Revenue and Forecast, By Application (2016-2027)
10.2.6. France
10.2.6.1. Market Revenue and Forecast, By Technology (2016-2027)
10.2.6.2. Market Revenue and Forecast, By Treatment (2016-2027)
10.2.6.3. Market Revenue and Forecast, By Application (2016-2027)
10.2.7. Rest of Europe
10.2.7.1. Market Revenue and Forecast, By Technology (2016-2027)
10.2.7.2. Market Revenue and Forecast, By Treatment (2016-2027)
10.2.7.3. Market Revenue and Forecast, By Application (2016-2027)
10.3. APAC
10.3.1. Market Revenue and Forecast, By Technology (2016-2027)
10.3.2. Market Revenue and Forecast, By Treatment (2016-2027)
10.3.3. Market Revenue and Forecast, By Application (2016-2027)
10.3.4. India
10.3.4.1. Market Revenue and Forecast, By Technology (2016-2027)
10.3.4.2. Market Revenue and Forecast, By Treatment (2016-2027)
10.3.4.3. Market Revenue and Forecast, By Application (2016-2027)
10.3.5. China
10.3.5.1. Market Revenue and Forecast, By Technology (2016-2027)
10.3.5.2. Market Revenue and Forecast, By Treatment (2016-2027)
10.3.5.3. Market Revenue and Forecast, By Application (2016-2027)
10.3.6. Japan
10.3.6.1. Market Revenue and Forecast, By Technology (2016-2027)
10.3.6.2. Market Revenue and Forecast, By Treatment (2016-2027)
10.3.6.3. Market Revenue and Forecast, By Application (2016-2027)
10.3.7. Rest of APAC
10.3.7.1. Market Revenue and Forecast, By Technology (2016-2027)
10.3.7.2. Market Revenue and Forecast, By Treatment (2016-2027)
10.3.7.3. Market Revenue and Forecast, By Application (2016-2027)
10.4. MEA
10.4.1. Market Revenue and Forecast, By Technology (2016-2027)
10.4.2. Market Revenue and Forecast, By Treatment (2016-2027)
10.4.3. Market Revenue and Forecast, By Application (2016-2027)
10.4.4. GCC
10.4.4.1. Market Revenue and Forecast, By Technology (2016-2027)
10.4.4.2. Market Revenue and Forecast, By Treatment (2016-2027)
10.4.4.3. Market Revenue and Forecast, By Application (2016-2027)
10.4.5. North Africa
10.4.5.1. Market Revenue and Forecast, By Technology (2016-2027)
10.4.5.2. Market Revenue and Forecast, By Treatment (2016-2027)
10.4.5.3. Market Revenue and Forecast, By Application (2016-2027)
10.4.6. South Africa
10.4.6.1. Market Revenue and Forecast, By Technology (2016-2027)
10.4.6.2. Market Revenue and Forecast, By Treatment (2016-2027)
10.4.6.3. Market Revenue and Forecast, By Application (2016-2027)
10.4.7. Rest of MEA
10.4.7.1. Market Revenue and Forecast, By Technology (2016-2027)
10.4.7.2. Market Revenue and Forecast, By Treatment (2016-2027)
10.4.7.3. Market Revenue and Forecast, By Application (2016-2027)
10.5. Latin America
10.5.1. Market Revenue and Forecast, By Technology (2016-2027)
10.5.2. Market Revenue and Forecast, By Treatment (2016-2027)
10.5.3. Market Revenue and Forecast, By Application (2016-2027)
10.5.4. Brazil
10.5.4.1. Market Revenue and Forecast, By Technology (2016-2027)
10.5.4.2. Market Revenue and Forecast, By Treatment (2016-2027)
10.5.4.3. Market Revenue and Forecast, By Application (2016-2027)
10.5.5. Rest of LATAM
10.5.5.1. Market Revenue and Forecast, By Technology (2016-2027)
10.5.5.2. Market Revenue and Forecast, By Treatment (2016-2027)
10.5.5.3. Market Revenue and Forecast, By Application (2016-2027)
Chapter 11. Company Profiles
11.1. Galil Medical Inc.
11.1.1. Company Overview
11.1.2. Product Offerings
11.1.3. Financial Performance
11.1.4. Recent Initiatives
11.2. Misonix Inc.
11.2.1. Company Overview
11.2.2. Product Offerings
11.2.3. Financial Performance
11.2.4. Recent Initiatives
11.3. HealthTronics
11.3.1. Company Overview
11.3.2. Product Offerings
11.3.3. Financial Performance
11.3.4. Recent Initiatives
11.4. Mermaid Medical
11.4.1. Company Overview
11.4.2. Product Offerings
11.4.3. Financial Performance
11.4.4. Recent Initiatives
11.5. Theraclion
11.5.1. Company Overview
11.5.2. Product Offerings
11.5.3. Financial Performance
11.5.4. Recent Initiatives
11.6. Chongqing Haifu Medical Technology Co., Ltd.
11.6.1. Company Overview
11.6.2. Product Offerings
11.6.3. Financial Performance
11.6.4. Recent Initiatives
11.7. HS Hospital Service S.P.A
11.7.1. Company Overview
11.7.2. Product Offerings
11.7.3. Financial Performance
11.7.4. Recent Initiatives
11.8. EDAP TMS S.A
11.8.1. Company Overview
11.8.2. Product Offerings
11.8.3. Financial Performance
11.8.4. Recent Initiatives
Chapter 12. Research Methodology
12.1. Primary Research
12.2. Secondary Research
12.3. Assumptions
Chapter 13. Appendix
13.1. About Us
13.2. Glossary of Terms