The global Tumor Ablation Market size is expected to reach USD 4.08 billion by 2030, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 13.5% from 2022 to 2030. The increasing incidence of cancer and the high demand for effective treatment options are the major factors driving the market. According to Cancer Research UK, the incidence rate of cancer is expected to grow by 62% from 2018 to 2040. Lung, breast, bowel, and prostate are the most common sites reported with cancer in 2018.
Increasing inclination towards minimally invasive
procedures owing to the benefits such as speedy recovery, patient comfort, and
shorter turnaround time are the factors expected to foster the demand for
advanced tumor ablation techniques during the forecast period. The integration
of tumor ablation devices with efficient interventional imaging modalities such
as ultrasound, MRI, and CT is anticipated to revolutionize ablation procedures
performed in outpatient settings. This is expected to significantly eliminate
the cost to the patient including hospital stays.
Supportive government initiatives such as screening
programs, awareness campaigns, and cancer schemes for various cancer types are
expected to increase the number of diagnosed cases. For instance, in 2019, the
National Health Scheme (NHS) started offering lung cancer screening programs in
some areas of England. Such initiatives are anticipated to escalate the need
for cancer management in early cancer stages, thereby facilitating the demand
for tumor ablation therapy.
The rising demand for advanced medical technologies,
coupled with improving financing capabilities of healthcare facilities, is
expected to increase the demand for tumor ablation devices during the forecast
period. For instance, Maimonides Medical Centre, New York announced the
purchase of advanced High Intensity Focused Ultrasound (HIFU) ablation device
(Focal One by EDAP TMS SA) in 2019 and it has become the second hospital in the
U.S. to be equipped with HIFU technology.
Related Press Release@ Tumor Ablation Market Report
Tumor Ablation Market Report
Highlights
- The radiofrequency ablation technology segment dominated the market
with more than 35.0% share in 2021 owing to its prominent application in
solid tumor removal
- By treatment, percutaneous ablation is expected to witness
lucrative growth over the forecast period due to the rising demand for
minimally invasive procedures offering faster recovery and higher safety
- Tumor ablation in lung cancer treatment is anticipated to witness
the fastest growth over the forecast period
- A sedentary lifestyle, increasing incidences of smoking, and rising
air pollution are contributing to the growing prevalence of lung cancer
- North America dominated the market in 2021 owing to the factors
such as the increasing prevalence of cancer, high purchasing power parity,
government support for quality healthcare, and the availability of
reimbursement
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, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
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