The tumor ablation therapy devices market consists of sales of tumor ablation devices and related services that are used in hospitals and oncology clinics. Tumor ablation is the technique used to extract the tumors using a needle, to insert it in the tumor organ using imaging techniques.
The global tumor ablation therapy devices market is expected to decline from $515.48 million in 2019 to $501.51 million in 2020 at a compound annual growth rate (CAGR) of -2.71%. The decline is mainly due to the COVID-19 outbreak that has led to restrictive containment measures involving social distancing, remote working, and the closure of industries and other commercial activities. The entire supply chain has been disrupted, impacting the market negatively. The market is then expected to recover and reach $728.35 million in 2023 at a CAGR of 13.25%.