Tumor Ablation Market 2014 Trends, Research, Analysis and Review Forecast 2024
The tumor ablation market is showcasing an enormous potential for growth across the world. The alarming increase in the incidence of cancer and, particularly, the rising prevalence of tumor in humans. The continual advancements in ablation technology, leading to the increased development of new and innovative products that are the safe, efficient, and have minimal side effects.
The tumor ablation market is showcasing an enormous potential for growth across the world. The alarming increase in the incidence of cancer and, particularly, the rising prevalence of tumor in humans. The continual advancements in ablation technology, leading to the increased development of new and innovative products that are the safe, efficient, and have minimal side effects.
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<strong>Tumor</strong> <strong>Ablation</strong> <strong>Market</strong> - Global Industry<br />
<strong>Analysis</strong>, Size, Share, Growth, <strong>Trends</strong>, <strong>and</strong><br />
<strong>Forecast</strong> <strong>2014</strong> - <strong>2024</strong><br />
Global <strong>Tumor</strong> <strong>Ablation</strong> <strong>Market</strong>: Snapshot<br />
The tumor ablation market is showcasing an enormous potential for growth across<br />
the world. The alarming increase in the incidence of cancer <strong>and</strong>, particularly, the<br />
rising prevalence of tumor in humans. The continual advancements in ablation<br />
technology, leading to the increased development of new <strong>and</strong> innovative products<br />
that are the safe, efficient, <strong>and</strong> have minimal side effects., are also boosting the<br />
growth of the global market for tumor ablation significantly.<br />
Going forward, the growing cases of bile duct cancer <strong>and</strong> primary liver cancer are<br />
anticipated to drive this market substantially over the forthcoming years. Along with<br />
this, the rise in the geriatric population base <strong>and</strong> the escalating consumption of<br />
alcohol <strong>and</strong> smoking are also projected to propel this market in the near future. The<br />
worldwide market for tumor ablation offered an opportunity worth US$702.9 mn in<br />
2015, which is likely to increase to US$1.9 bn by <strong>2024</strong>, exp<strong>and</strong>ing at a CAGR of<br />
12.20% over the period from 2016 to <strong>2024</strong>.<br />
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Increasing Popularity of Radiofrequency <strong>Ablation</strong> to Ensure its Dominance<br />
Based on technology, the global market for tumor ablation has been categorized<br />
into radiofrequency ablation, microwave ablation, cryoablation, high-intensity<br />
focused ultrasound, <strong>and</strong> laser interstitial thermal ablation. Among these, the<br />
radiofrequency ablation technology segment has been leading the global market in<br />
terms of revenue. Exp<strong>and</strong>ing at a CAGR of 10.90% between 2016 <strong>and</strong> <strong>2024</strong>, the<br />
segment is likely to maintain its lead in this market in the near future.<br />
The growing awareness about the benefits of tumor ablation through<br />
radiofrequency, such as its efficiency, less risk of tissue damage, <strong>and</strong> faster<br />
recovery, is likely to fuel its dem<strong>and</strong> substantially over the next few years. The fact<br />
that the patient requires going through only one treatment session for tumor<br />
destruction when radiofrequency ablation technology is used, is adding significantly<br />
to its popularity, which is also anticipated to push its adoption rate upwards in the<br />
years to come. Apart from this, the uptake of microwave technology for tumor
ablation is also increasing considerably, which is expected to reflect positively on<br />
the market share of this segment over the forthcoming years.<br />
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Technological Advancements to Propel North America <strong>Tumor</strong> <strong>Ablation</strong><br />
<strong>Market</strong><br />
Geographically, the worldwide market for tumor ablation has been classified into<br />
Asia Pacific, the Middle East <strong>and</strong> Africa, North America, Latin America, <strong>and</strong> Europe.<br />
In 2015, North America dominated the overall market with a share of 30% due to<br />
the early adoption of the treatment procedure. The regional market is likely to<br />
remain on the top over the forthcoming years, thanks to the technological<br />
advancements, rising base of geriatric population, <strong>and</strong> the high prevalence of<br />
cancer.<br />
Europe stood second in the global tumor ablation market in 2015. Driven by the<br />
increasing tobacco <strong>and</strong> alcohol consumption, rise in research activity, presence of a<br />
large base of the geriatric population, <strong>and</strong> the growing awareness among<br />
consumers, the Europe market for tumor ablation is anticipated to retain its position<br />
in the years to come.<br />
Among other regional markets for tumor ablation, Asia Pacific is predicted to present<br />
the most promising growth opportunities in the near future on the ground of soaring<br />
unmet medical needs, rising medical expenditures in emerging economies, rapidly<br />
exp<strong>and</strong>ing capital in research <strong>and</strong> development in medical <strong>and</strong> healthcare, <strong>and</strong> the<br />
increasing focus of global players on this region.<br />
EDAP TMS S.A., St. Jude Medical Inc., BVM Medical Ltd., SonaCare Medical LLC,<br />
AngioDynamics Inc., Boston Scientific Corp., BTG International Ltd., Integra<br />
LifeSciences Holdings Corp., <strong>and</strong> Medtronic plc. are some of the key enterprises<br />
functional in the global tumor ablation market.<br />
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