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.
Global Tumor Ablation Therapy Devices Market Size And Drivers:
The global tumor ablation therapy devices market is expected to grow from $0.502 billion in 2020 to $0.561 billion in 2021 at a compound annual growth rate (CAGR) of 11.8%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $0.915 billion in 2025 at a CAGR of 13%. The increasing prevalence of cancer is a key factor driving the growth of the tumor ablation therapy devices market.
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Trends In The Global Tumor Ablation Therapy Devices Market
Major companies operating in the tumor ablation therapy devices are focusing on technology advancements for shorter procedures, increased safety, lower exposure to radiation, faster learning curves and improved outcomes. In 2018, J&J medicals have released a microwave ablation system called NEUWAVE, which is the first minimally invasive device to put electrodes into cancer cells and thereby increase the temperature around them for burning the cancer cells. In June 2020, Boston Scientific has launched a technology called DirectSense technology, a tool used for monitoring the effect of radiofrequency (RF) now for cardiac procedures, which may be further employed for tumors.
Global Tumor Ablation Therapy Devices Market Segments:
The global tumor ablation therapy devices market is further segmented –
By Technology: Radiofrequency Ablation, Microwave Ablation, Cryoablation, Irreversible Electroporation Ablation, Others
By Treatment: Surgical, Laparoscopic, Percutaneous
By End User: Hospitals, Oncology Clinics, Others
By Application: Kidney Cancer, Liver Cancer, Breast Cancer, Lung Cancer, Prostate Cancer, Others
By Geography: The global tumor ablation therapy devices market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.
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Tumor Ablation Therapy Devices Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides tumor ablation therapy devices market overviews, analyzes and forecasts market size and growth for the global tumor ablation therapy devices market, tumor ablation therapy devices market share, tumor ablation therapy devices market players, tumor ablation therapy devices market segments and geographies, tumor ablation therapy devices market’s leading competitors’ revenues, profiles and market shares. The tumor ablation therapy devices market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
