Tumor Ablation Market Will Witness Growth Based On The Increasing Prevalence Of Different Forms Of Cancer Till 2022:Grand View Research,inc.
Global tumor ablation market is expected to reach USD 1.5
billion by 2022, according to a new study by Grand View Research Inc. Rising
prevalence of different forms of cancer and increasing technological
advancements in the field of thermal ablation techniques are the most prominent
drivers of the market.
Besides the use of thermal
ablation, techniques such as laser ablation, irreversible electroporation, High
Intensity Focused Ultrasonography (HIFU) are also clinically growing,
concurrently propelling the tumor ablation industry.
Occurrence of lung, breast, and
liver cancer is on the rise globally. According to the Center for Disease
Control (CDC) and other organizations, currently, about 210,828 cases of lung
cancer, 2.9 million cases of breast cancer, and over 2.7 million cases of
prostate cancer are reported in the U.S. alone.
In terms of technological
advancement, companies such as SonaCare Medical are coupling ablation
techniques with other technologies to improve accuracy, performance, and level
of care. SonaLink, a remote patient monitoring platform, was put to use along
with Sonatherm ablation system to enable physicians to enhance patient care
experience, thereby promoting market growth.
The industry is also anticipated
to witness mergers and joint collaborations as a tool to curb rising
competition. For instance, Boston Scientific Corporation acquired C.R. Bard
Electrophysiology, which led to a 48.0% hike in profit for the former company.
Browse full research report on Tumor Ablation Market:
http://www.grandviewresearch.com/industry-analysis/tumor-ablation-market
Further key findings from
the study suggest:
- Microwave ablation technology is expected to be the
fastest growing segment over the forecast period at a CAGR of over 15.0%.
Reduction in the procedure time and low cost for treatment are some of the
attributes favoring growth.
- In terms of treatment, surgical ablation is predicted
to form the largest market by 2022 with about 35.0% share. Liver and lung
cancer ablation require surgical procedures, and since these form the
largest and fastest growing segments, they concomitantly propel surgical
ablation growth.
- Lung cancer forms the most lucrative market and is
anticipated to be the fastest growing segment over the forecast period. By
2022, it is expected to contribute about 15.0% of the revenue share owing
to its rising prevalence rate across the globe.
- According to market forecast for 2022, North America
is expected to dominate the market and Asia Pacific is anticipated to
witness the fastest growth. Augmenting growth in the cancer prevalence and
rising healthcare expenditure in regions such as China, Korea, and India
are factors responsible for this rapid growth.
- Major players of the market include HealthTronics,
Galil Medical Inc., Angiodynamics, Medtronic Plc. (Covidien), Boston
Scientific Corporation, SonaCare Medical, Misonix Inc., EDAP TMS S.A., and
Neuwave Medical Inc. To retain market leadership, players such as
Medtronic are working towards acquiring other companies and expanding
their portfolio. For instance, in January 2016, Medtronic acquired the
OsteoCool RF Ablation System from Baylis Medical.
Browse more reports of this category by Grand View
Research : http://www.grandviewresearch.com/industry/medical-devices
Grand View Research has segmented the global tumor ablation
market on the basis of technology, treatment, application, and region:
Global Tumor Ablation Technology Outlook (USD million),
2012 - 2022
- Radiofrequency
- Microwave
ablation
- Cryoablation
- Other
ablation technologies
Global Tumor Ablation Treatment Outlook (USD million),
2012 - 2022
- Surgical
tumor ablation
- Laparoscopic
tumor ablation
- Percutaneous
tumor ablation
Global Tumor Ablation Application Outlook (USD million),
2012 - 2022
- Liver
cancer
- Breast
cancer
- Lung
cancer
- Prostate
cancer
- Other
cancers
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
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