Tumor Ablation Market Size, Share & Trends Analysis Report By Technology (Radiofrequency, Microwave), By Treatment (Surgical, Laparoscopic), By Application- Global Industry Analysis, Share, Growth, Regional Outlook and Forecasts, 2021-2027

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.

  • Company Overview
  • Company Market Share/Positioning Analysis
  • Product Offerings
  • Financial Performance
  • Recent Initiatives
  • Key Strategies Adopted by Players
  • Vendor Landscape
  • List of Suppliers
  • List of Buyers

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 Technology
    • Radiofrequency ablation
    • Microwave ablation
    • Cryoablation
    • Irreversible electroporation ablation
    • Other ablation technologies
  • By Treatment
    • Surgical ablation
      • Kidney Cancer
      • Liver cancer
      • Breast cancer
      • Lung cancer
      • Prostate cancer
      • Other cancer
    • Laparoscopic ablation
      • Kidney Cancer
      • Liver cancer
      • Breast cancer
      • Lung cancer
      • Prostate cancer
      • Other cancer
    • Percutaneous ablation
      • Kidney Cancer
      • Liver cancer
      • Breast cancer
      • Lung cancer
      • Prostate cancer
      • Other cancer
  • By Application
    • Kidney Cancer
    • Liver cancer
    • Breast cancer
    • Lung cancer
    • Prostate cancer
    • Other cancer

By Geography

North America

  • U.S.
  • Canada

Europe

  • Germany
  • France
  • United Kingdom
  • Rest of Europe

Asia Pacific

  • China
  • Japan
  • India
  • Southeast Asia
  • Rest of Asia Pacific

Latin America

  • Brazil
  • Rest of Latin America

Middle East & Africa (MEA)

  • GCC
  • North Africa
  • South Africa
  • Rest of Middle East & Africa

Highlights of the Report:

  • Market Penetration: Comprehensive information on the product portfolios of the top players in the market.
  • Product Development/Innovation: Detailed insights on the upcoming technologies, R&D activities, and product launches in the market
  • Competitive Assessment: In-depth assessment of the market strategies, geographic and business segments of the leading players in the market
  • Market Development: Comprehensive information about emerging markets. This report analyzes the market for various segments across geographies
  • Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the market

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:

  • Governmental bodies, and organizations creating economic policies
  • National and international social welfare institutions
  • Company websites, financial reports and SEC filings, broker and investor reports
  • Related patent and regulatory databases
  • Statistical databases and market reports
  • Corporate Presentations, news, press release, and specification sheet of Manufacturers

Primary Research

Primary research includes face-to face interviews, online surveys, and telephonic interviews.

  • Means of primary research: Email interactions, telephonic discussions and Questionnaire based research etc.
  • In order to validate our research findings and analysis we conduct primary interviews of key industry participants. Insights from primary respondents help in validating the secondary research findings. It also develops Research Team’s expertise and market understanding.

Industry participants involved in this research study include:

  • CEOs, VPs, market intelligence managers
  • Procuring and national sales managers technical personnel, distributors and resellers
  • Research analysts and key opinion leaders from various domains

Key Points Covered in Tumor Ablation market Study:

  • Growth of Tumor Ablation in 2021
  • Market Estimates and Forecasts (2017-2027)
  •  Brand Share and Market Share Analysis
  •  Key Drivers and Restraints Shaping Market Growth
  •  Segment-wise, Country-wise, and Region-wise Analysis
  •  Competition Mapping and Benchmarking
  •  Recommendation on Key Winning Strategies
  •  COVID-19 Impact on Demand for Tumor Ablation and How to Navigate
  •  Key Product Innovations and Regulatory Climate
  •  Tumor Ablation Consumption Analysis
  •  Tumor Ablation Production Analysis
  •  Tumor Ablation and Management