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The tumor ablation therapy devices market is forecasted to achieve exponential growth in the coming few years with a forecast CAGR (compound annual growth rate) of 15%, as per The Business Research Company’s market report!

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The Tumor Ablation Therapy Devices Market Size In 2022 And Forecast

The global tumor ablation therapy devices market is expected to grow from $0.49 billion in 2021 to $0.56 billion in 2022 at a compound annual growth rate (CAGR) of 14.1%. 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, affecting many markets across the globe. The tumor ablation therapy devices market is expected to grow to $0.97 billion in 2026 at a CAGR of 15%.

The tumor ablation therapy devices market consists of sales of tumor ablation devices and related services that are used in hospitals and oncology clinics.

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Increase In The Prevalence Of Cancer Is Driving The Growth Of The Tumor Ablation Therapy Devices Market

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.

Competitive Landscape And The Regional Analysis Of The Tumor Ablation Therapy Devices Market

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.

Additionally, as per TBRC’s research – North America was the largest region in the tumor ablation therapy devices market in 2021 holding the largest market share.

The Tumor Ablation Therapy Devices Global Market Report 2022 covers regional data on key drivers, opportunities, and strategies for the seven major regions of the world that are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. 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. The report includes market size and forecast market shares for all the regions and countries with respect to the major players of the tumor ablation therapy devices market.

Focusing On Technology Advancements – A Key Trend In The Tumor Ablation Therapy Devices Market

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.

Tumor Ablation Therapy Devices Market Segmentation By The Business Research Company

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

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