The global tumour ablation market has accounted for USD 1.8 billion in 2016, expected to reach USD 3.5 billion by 2024, growing at a CAGR of 8.2% in the forecast period 2017 to 2024.
Global Tumour Ablation Market, By Type (Tumour Ablation Systems (Radio Frequency Ablation, Microwave Ablation, HIFU, Laser Ablation, Cryoablation), Image Guidance Products, Accessories), By Cancer Type (Liver, Lings, Kidney, Brain, Bone, Pancreas, Breast, Others), By End-User (Hospitals, Oncology Clinics, Others), By Geography (North America, South America, Europe, Asia-Pacific, Rest of the World) – Trends and Forecast to 2024
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The global tumour ablation market is expected to grow, owing to factors such as rising cancer incidence, increased focus on treatment of breast cancer, better reimbursement scenarios, shift towards value based reimbursements and continuous development in ablation technology. The ablation technology has an upper edge on chemotherapy and other oncology therapeutics. However ablation technology can only be used to treat tumours with size less than 3cm, owing to the healthy tissue damage caused by it. With the advent of guidance mechanisms such as ultrasounds and MRI the accuracy of the treatment has increased significantly in the past 5 years.
Tumour Ablation Market Market Segmentation:
The global tumour ablation market is segmented based on product types, cancer types, end-user and geography.
The global tumour ablation market is segmented into 3 type’s ablation systems, image guidance products and accessories. The ablation systems dominates the market and is further segmented based on product type into microwave ablation (coretherm thermotherapy devices and prolieve thermotherapy devices), radiofrequency ablation (RFA) ((temperature controlled devices, fluid cooled, catheter manipulation systems), high intensity focused ultrasound (HIFU), laser ablation and cryoablation.
On the basis of cancer types treated using ablation devices the market is segmented into liver, lings, kidney, brain, bone, pancreas, breast and, other cancer types.
Based on end-user the global tumour ablation market is segmented into hospitals, oncology clinics and others.
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Tumour Ablation Market Geographical Segmentation
Based on geography the global tumour ablation market is segmented into 5 geographical regions, North America, Europe, Asia-Pacific, South America and rest of the world. The geographical regions are further segmented into 24 major countries such as U.S., Canada, Mexico, Germany, France, U.K., Belgium, Switzerland, Belgium, Turkey, Japan, China, Singapore, Brazil, India, Russia, South Africa and many others. In 2016, Europe is expected to dominate the market with 36.7% market share, owing to the large incidence of cancer patients in this region coupled with good reimbursements.
Tumour Ablation Market Competitive Landscape:
The tumor ablation market’s major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. Some examples of recent strategies/developments are: On January, 2016 Medtronic acquired OsteoCool RF Ablation System from Baylis Medical and received its FDA approval, December, 2015 DFINE, Inc. launched Long SpineStar ablation system, January 2015, Medtronic acquired Covidien to strengthen its leadership in medical devices industry among others. The report includes market shares of tumor ablation market for global, Europe, North America, Asia Pacific and Rest of the World.
In 2015, Medtronic has dominated the global tumor ablation market. Some of the other key players operating in this market are Galil Medical, Inc., Perseon Corporation, NeuWave Medical, Inc., Koninklijke Philips N.V., INTIO Inc., Mermaid Medical A/S, SonaCare Medical, LLC, DFINE, Inc., Misonix, Inc., BVM Medical Limited, AngioDynamics, Inc., COMSOL Inc., Boston Scientific Corporation, EDAP TMS S.A. and, HealthTronics, Inc. among other companies.
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