The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company’s tumor ablation therapy devices market report forecasts the tumor ablation therapy devices market size to grow to $1.1 Billion by 2027, with a CAGR (compound annual growth rate) of more than 14%.

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Tumor Ablation Therapy Devices Market Size Forecast
The global tumor ablation therapy devices market is expected to grow from $0.56 billion in 2022 to $0.64 billion in 2023 at a compound annual growth rate (CAGR) of 15.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The tumor ablation therapy devices market is expected to grow from $1.1 billion in 2027 at a CAGR of 14.4%.

North America held the largest tumor ablation therapy devices market share.

Key Tumor Ablation Therapy Devices Market Driver ­– Increase In The Prevalence Of Cancer
For instance, in 2020, according to the American Institute of cancer research, there were an estimated 18.1 million cancer cases around the world. It was estimated that 9.3 million cases were in men and 8.8 million in women. Among them, lung and breast cancers are the most common cancers in the world, and about 12.5% and 12.2% of the new cases are diagnosed in 2020. The procedure is an effective method for patients who have failed chemotherapy or radiotherapy, thereby supporting the growth of the tumor ablation therapy devices market.

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Key Tumor Ablation Therapy Devices Market Trend – Focusing On Technology Advancements
Major companies operating in the tumor ablation therapy devices are focusing on technology advancements for shorter procedures, increased safety, lower exposure to radiation, faster learning curves, and improved outcomes J&J medicals have released a microwave ablation system called NEUWAVE, which is the first minimally invasive device to put electrodes into cancer cells and thereby increase the temperature around them for burning the cancer cells. In June 2020, Boston Scientific has launched a technology called DirectSense technology, a tool used for monitoring the effect of radiofrequency (RF) now for cardiac procedures, which may be further employed for tumors.

Tumor Ablation Therapy Devices Market Segment
1) By Technology: Radiofrequency Ablation, Microwave Ablation, Cryoablation, Irreversible Electroporation Ablation, Other Technologies
2) By Treatment: Surgical, Laparoscopic, Percutaneous
3) By End User: Hospitals, Oncology Clinics, Other End Users
4) By Application: Kidney Cancer, Liver Cancer, Breast Cancer, Lung Cancer, Prostate Cancer, Other Applications

Tumor Ablation Therapy Devices Market Major Players and Strategies
Major players in the tumor ablation therapy devices market are Galil Medical Inc., Misonix Inc., HealthTronics, Angiodynamics, Boston Scientific Corporation, Medtronic PLC., EDAP TMS S.A, Neuwave Medical Inc., BVM Medical Limited, and Erbe Elektromedizin GmbH.

In August 2022, Imagin Medical, a Canada-based urologic oncology company acquired enCAGE Coil™ Precision Ablation System for Prostate Cancer from TROD Medical NV for $2.5m. The acquisition would strengthen Imagin’s position as a urologic oncology company and expand its portfolio in the field of prostate cancer. TROD Medical NV is a Belgium-based medical device company.

The Tumor Ablation Therapy Devices Global Market Report 2023 covers regional data on tumor ablation therapy devices market size, tumor ablation therapy devices market trends and drivers, opportunities, strategies, and tumor ablation therapy devices market competitor analysis. The countries covered in the tumor ablation therapy devices market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

Tumor ablation therapy devices are minimally invasive devices used in the treatment of tumors, commonly of kidney, liver and lung.

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