Tumor Ablation Market worth $515.2 M by 2020, According to a New Study on ASDReports

Friday 10 July 2015, Amsterdam

The report, now available on ASDReports, “Tumor Ablation Market by Technology (Radiofrequency, Microwave, Cryoablation, IRE, Ultrasound), Mode of treatment (Surgical, Laparoscopic, Percutaneous), Application (Liver, Lung, Kidney, Bone Metastasis, Prostate, Breast) - Global Forecasts to 2020” analyzes and studies the major market drivers, restraints, opportunities, and challenges in North America, Europe, Asia-Pacific, and the Rest of the world (RoW). The Global Tumor Ablation Market Is Poised to Reach $515.2 Million by 2020, Growing at a CAGR of 11.5% from 2015 to 2020

Based on technology, the global tumor ablation market is classified into four major segments, namely, radiofrequency ablation, microwave ablation, cryoablation, and other technologies (including irreversible electroporation, radioiodine, HIFU, and laser ablation). On the basis of mode of treatment, the global tumor ablation market is classified into surgical ablation, laparoscopic ablation, and percutaneous ablation. The global tumor ablation market is further classified into five application segments, namely, liver cancer, lung cancer, kidney cancer, bone metastasis, and others (includes cancer of prostate, breast, colorectal, neuroendocrine, head, neck, and lumbar vertebrae).

Factors such as growing geriatric population across the world, increasing population base of cancer patients, technological advancements in ablation devices, increasing number of hospitals and surgical and ablation centers, increasing demand for minimally invasive cancer treatment procedures, and growing awareness regarding the benefits offered by ablation procedures over those of conventional therapeutic and surgical procedures are fuelling the growth of the global tumor ablation market. On the other hand, cost-containment measures taken by various governments and ongoing healthcare reforms in the U.S. are some of the key factors hampering the growth of this market.

As of 2015, North America is expected to hold the largest share of the tumor ablation market, followed by Europe. However, the Asia-Pacific market is expected to grow at the highest CAGR during the forecast period (2015 to 2020). This can be attributed to factors such as large population base paired with high prevalence and incidence of various cancers (such as liver, lung, and kidney cancer), ongoing government initiatives for development and modernization of healthcare infrastructure, increasing adoption due to continuously decreasing device price associated with tumor ablation products, and rising trend of localized manufacturing due to growing focus of global giants in the APAC market. Medtronic, plc (U.S.), AngioDynamics, Inc. (U.S.), HealthTronics, Inc. (U.S.), Galil Medical, Inc. (U.S.), Boston Scientific Corporation (U.S.), EDAP TMS S.A. (France), NeuWave Medical Inc. (U.S.), Mermaid Medical A/S (Denmark), SonaCare Medical, LLC (U.S.), and Misonix, Inc. (U.S.) are the major players in the global tumor ablation market.