Global Tumor Ablation Market Report and Forecast 2024-2032

Global Tumor Ablation Market Outlook

The global tumor ablation market size was valued at USD 1.9 billion in 2023 driven by the rising prevalence and incidence of cancer across the globe. The market is expected to grow at a CAGR of 14.2% during the forecast period of 2024-2032, with the values likely to rise from USD 2.2 billion in 2024 to USD 6.3 billion by 2032.

Key Takeaways

• According to the American Cancer Society Statistics, it is estimated that 2,001,140 new cases and 611,720 cancer mortality are projected to occur in the United States in 2024.

• In March 2024, Medtronic received United States FDA 510(k) approval for OsteoCool 2.0, an ablation system designed to treat benign bone tumors.

• Growing preference for minimally invasive procedures is expected to fuel the tumor ablation market value in the forecast period.

Tumour ablation is a minimally invasive procedure commonly employed to treat tumors of the kidney, liver, bone, and lung. It is a promising alternative for patients with failed radiotherapy or chemotherapy. This technique generally uses thermal energy to heat or cool the targeted tissue to cytotoxic levels, resulting in tissue necrosis. The technical success and minimally invasive nature have fuelled its clinical relevance which is expected to drive market growth in coming years.

Major factors propelling the market expansion are the growing incidence and prevalence of cancers, continuous technological innovation in the field of tumor ablation, and the surge in research and development activities. The market landscape is likely to be positively influenced by the rising investment from the public and private sectors to foster the development of tumor ablation procedures along with the heightened public awareness related to the benefits of the technique. Moreover, the tumor ablation market demand is fuelled by the rising inclination of patients towards minimally invasive alternatives for cancer treatment.

Global Tumor Ablation Market Trends and Developments

Growing adoption of image-guided ablation, expanding applications of tumor ablation, heightened patient awareness, and the surge in regulatory approvals comprise some of the key trends and developments in the market.

Global Tumor Ablation Market Analysis

The market is driven by the rising prevalence and incidence of cancer which necessitates the development of effective treatment interventions for the huge patient base. The global burden of cancer is primarily contributed by the rise in the geriatric population and increased exposure to risk factors. With estimates predicting more than 35 million new cancer cases by 2050 , the tumor ablation market value is expected to witness significant growth in the forecast period.

One of the major market trends is the rapid technological advancement in the field of tumor ablation, encouraged by investments from the key market players. Moreover, the robust financial support from the government is helping to sustain the ongoing research initiatives aimed at improving patient outcomes via innovative tumor ablation procedures. Moreover, the inclination of patients for less invasive treatment options is a significant trend accelerating market growth.

Global Tumor Ablation Market Segmentation

“Global Tumor Ablation Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:

By technology, the market is segmented into radiofrequency ablation, microwave ablation, cryoablation, and high-intensity focused ultrasound (HIFU), among others. Each technology type offers different mechanisms for destroying cancerous cells. HIFU is the only non-invasive technique among all ablation modalities although it carries several limitations. With technological advancements, HIFU is poised to emerge as an attractive treatment alternative in coming years.

In terms of type, tumor ablation procedures can be categorized as surgical ablation, percutaneous ablation, and laparoscopic ablation. This market segment illustrates different approaches to accessing and treating tumors.

The tumor ablation market share is projected to grow with its increasing application multiple domains. Common application areas include kidney cancer, liver cancer, breast cancer, lung cancer, prostate cancer, bone cancer, and other tumor types. This segment reflects the clinical relevance of the technique in treating a wide range of oncological conditions.

End-users of the market are hospitals, oncology centers, and other healthcare facilities. The end users perform tumor ablation procedures as part of cancer treatment regimens.

The market report offers insights into the major regional markets such as North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. Regional disparities exist in the markets, which can be attributed to a myriad of factors such as healthcare infrastructure, prevalence of cancer, and the presence of key market players.

Competitive Landscape

The key market players are contributing to the tumor ablation market growth through mergers and acquisitions initiatives, innovative product launches, continuous research, and development efforts, and penetration of their offerings in the international markets.

Other key market players include EDP TMS, Mermaid Medical, CONMED Corporation, Sonablate Corporation, Integra Life Science Holding Corporation, Smith & Nephew PLC, and Olympus Corporation, among others.

Global Tumor Ablation Market Analysis by Region

North America has a significant share of the market segment, which can be attributed to the growing cancer burden in the region and the growing demand for novel treatment interventions. In addition, increasing geriatric population, product launches, and vigorous research and development initiatives are expected to bolster the market growth in the forecast period.

Europe has a substantial market value, supported by the presence of premium research institutes and key market leaders. Moreover, the advanced healthcare system in the region facilitates greater accessibility to innovative tumor ablation techniques, which is likely to drive market growth in the region.

Key Highlights of the Report

Tumor Ablation Market Report Snapshots

Tumor Ablation Market Size

Tumor Ablation Market Analysis

Tumor Ablation Regional Analysis

Tumor Ablation Companies