Press release -
Tumor Ablation Market - Global Industry Analysis, Market Size, Opportunities and Forecast 2018 - 2026
The global tumor ablation market size is projected to around USD 3.2 billion by 2026, the market is projected to grow with 12.1% CAGR during the forecast timeframe. Growing cases of cancer across the world is the key development-boosting factor for this industry. Around 14.0% of the populace suffers from cancer each year, according to the statistics by the (WHO) World Health Organization.
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Need for slightly invasive processes owing to the advantages, for instance, speedy recovery, less trauma, along with technical progressions in the field of thermal ablation is also expected to increase market development. Such are instance, usage of cooled radiofrequency denervation method - a process, which usages radiofrequency thermal energy to ablate sensory nerve fibers of the sacroiliac joint - with internally cooled radiofrequency probes to increase the lesion size.
SonaCare Medical LLC introduced a remote patient monitoring platform; Sonalink in February 2015, that can be used during (HIFU) High-Intensity Focused Ultrasound procedures. Also, growing per capita income is allowing people to take up progressive cure for tumors, therefore boosting the development of this market. Active role of healthcare agencies and government in producing consciousness about numerous cancer types is also anticipated to facilitate usage of tumor ablation therapy, thus supporting market growth.
The global tumor ablation market is segmented into technology, treatment, application and region.
On the basis of technology, the global tumor ablation market is segmented into radiofrequency, microwave, and cryoablation. On the basis of treatment, the global tumor ablation market is segmented into surgical, laparoscopic and percutaneous. On the basis of the application, the global tumor ablation market is segmented into liver cancer, breast cancer, lung cancer, prostate cancer, and other cancer. On the basis of region the global tumor ablation market is segmented into Latin America, Europe, Asia Pacific, North America, and Middle East & Africa.
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Radiofrequency led the technology segment in 2017 accounting for over 30.5% of the market share as this therapy finds applications in solid tumor removal. Percutaneous processes are anticipated to observe profitable growth over the forecast period due to rising demand for minimally invasive procedures offering faster recovery and higher safety.
Lung cancer is expected to witness lucrative development during the forthcoming. Sedentary lifestyle and increasing air pollution are backing to rising occurrence of lung cancer. North America captures overall tumor ablation industry. Key parameters boosting the regional market are growing occurrence of cancer in U.S. and Canada, easy compensation policies, and accessibility of quality healthcare.
North America captures the major market share in 2018 accounting for over 34.6% of its share and is projected to continue its dominance during the forthcoming. Main parameter contributing to development of this region comprise government support for high purchasing power parity, quality healthcare, availability of reimbursement, and growing occurrence of cancers in Canada and U.S.
Such as, in U.S., the (PPACA) Patient Protection and Affordable Care Act, also called as ObamaCare, encourages quality and affordability of health insurance and decreases the cost of healthcare for individuals and government. Government initiatives, for instance, Precision Medicine Initiative formulating tailored tactics on unique features of diseases, are aiding in improving the overall healthcare system, therefore increasing market development.
Europe captured the market share 24.5% of the global market share during the forecast period. Greater extent of public funding in Europe’s healthcare system has backed to this development. Furthermore, occurrence of target populace base paired with government support to control cancer captures to significant development of this region. Such as, formation of bodies, for instance, the European Cancer Observatory, produced consciousness about cancer.
Asia Pacific is anticipated to observe the profitable development forthcoming due to helpful government initiatives and improving healthcare infrastructure. Furthermore, economic growths in countries, for instance, China and India, are anticipated to aid drive the market development. Enormous populace base with low per capita income in the region captures to high need for reasonable treatment options.
The key players catering to the global tumor ablation market are Misonix, Inc., Covidien PLC, Boston Scientific Corporation, Angiodynamics, HealthTronics, EDAP TMS S.A., SonaCare Medical, Galil Medical, Inc., Medtronic Plc., and Neuwave Medical, Inc.
Table Of Contents:
CHAPTER 1. INDUSTRY OVERVIEW
CHAPTER 2. MARKET DYNAMICS AND COMPETITION ANALYSIS
CHAPTER 3. MANUFACTURING PLANTS ANALYSIS
CHAPTER 4. TUMOR ABLATION MARKET BY TECHNOLOGIES
CHAPTER 5. TUMOR ABLATION MARKET BY TREATMENT
CHAPTER 6. TUMOR ABLATION MARKET BY APPLICATION
CHAPTER 7. NORTH AMERICA TUMOR ABLATION MARKET BY COUNTRY
CHAPTER 8. EUROPE TUMOR ABLATION MARKET BY COUNTRY
CHAPTER 9. ASIA-PACIFIC TUMOR ABLATION MARKET BY COUNTRY
CHAPTER 10. LATIN AMERICA TUMOR ABLATION MARKET BY COUNTRY
CHAPTER 11. MIDDLE EAST TUMOR ABLATION MARKET BY COUNTRY
CHAPTER 12. AFRICA TUMOR ABLATION MARKET BY COUNTRY
CHAPTER 13. COMPANY PROFILE
CHAPTER 14. RESEARCH APPROACH
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