Tumor Ablation Therapy Devices Forecast Report – Designed for Decision Makers and Product Teams
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What Is the Estimated Market Size of the Tumor Ablation Therapy Devices Market In 2029?
The market size of devices used in tumor ablation therapy has seen a swift expansion in the past few years. It is expected to surge from $0.72 billion in 2024 to $0.83 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 15.0%. Factors such as cancer prevalence, advancements in technology, an aging demographic, and the preference for minimally invasive procedures contribute to the growth experienced in the historic period.
What Growth Rate Is Forecasted for the Tumor Ablation Therapy Devices Market by 2029?
The market size of tumor ablation therapy devices is projected to experience a swift escalation in the coming years, surging to $1.44 billion in 2029 with a 14.8% compound annual growth rate (CAGR). The predicted growth in the forecast period can be tied to factors such as personalized medicine, the merging of different treatment approaches, artificial intelligence being employed in ablation, telemedicine and distant consultations, along with training and education. The major advancements likely to shape the forecast period entail progress in ablation technologies, imaging guidance, robotic and navigation assistance, integration of immuno-oncology, and percutaneous and image-guided ablation.
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Which Key Companies Are Shaping the Future of the Tumor Ablation Therapy Devices Market?
Major companies operating in the tumor ablation therapy devices market include Galil Medical Inc., Misonix Inc., HealthTronics Inc., AngioDynamics Inc., Boston Scientific Corporation, Medtronic plc, EDAP TMS S.A., NeuWave Medical Inc., BVM Medical Limited, Erbe Elektromedizin GmbH, AtriCure Inc., Theraclion, INTIO Inc., BIOTRONIK SE & Co. KG, Olympus Corporation, Stryker Corporation, Merit Medical Systems Inc., Insightec Ltd., Terumo Corporation, Smith & Nephew plc, Monteris Medical Corporation, IceCure Medical Ltd., Profound Medical Inc., Alpinion Medical Systems Co. Ltd., Sonacare Medical, Hologic Inc., Endocare Inc., Integra LifeSciences Corporation, Bovie Medical Corporation
Which Factors Are Driving Demand in the Tumor Ablation Therapy Devices Industry?
The escalating incidence of cancer is a significant factor propelling the expansion of the tumor ablation therapy devices market. Globally, cancer is deemed the second leading cause of mortality, with approximately one in six deaths due to cancer. Tumor ablation, a minimally invasive procedure, is extensively employed in treating lung, liver, kidney, and bone tumors. For instance, the American Cancer Society Inc., a non-profit health organization based in the US, predicts that in 2023, the number of new cancer cases is projected to reach 1,958,310, an uptick compared to over 1,918,030 new cases in 2022. The method is an efficient approach for patients who have not responded adequately to chemotherapy or radiotherapy, hence boosting the growth of the tumor ablation therapy devices market.
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How Is the Tumor Ablation Therapy Devices Market Segmented by Several Divisions?
The tumor ablation therapy devices market covered in this report is segmented –
1) By Technology: Radiofrequency Ablation, Microwave Ablation, Cryoablation, Irreversible Electroporation Ablation, Other Technologies
2) By Treatment: Surgical, Laparoscopic, Percutaneous
3) By Application: Kidney Cancer, Liver Cancer, Breast Cancer, Lung Cancer, Prostate Cancer, Other Applications
4) By End User: Hospitals, Oncology Clinics, Other End Users
Subsegments:
1) By Radiofrequency Ablation (RFA): Monopolar RFA Devices, Bipolar RFA Devices
2) By Microwave Ablation: High-frequency Microwave Devices, Low-frequency Microwave Devices
3) By Cryoablation: Liquid Nitrogen-based Devices, Argon Gas-based Devices
4) By Irreversible Electroporation Ablation (IRE): NanoKnife Ablation Systems, High-voltage Pulse Generators
5) By Other Technologies: Laser Ablation Devices, Ultrasound-guided High-intensity Focused Ultrasound (HIFU), Chemical Ablation Techniques
What are the Emerging Market Trends Driving the Growth of the Tumor Ablation Therapy Devices Industry?
Leading firms in the tumor ablation therapy device market are prioritizing technological advancements to ensure shorter methods, enhanced safety, diminished radiation exposure, accelerated learning progressions, and superior results. J&J medicals have launched a microwave ablation apparatus called NEUWAVE, a pioneering minimally invasive appliance designed to implant electrodes into cancerous cells, thereby elevating the temperature in their vicinity to burn the cancer. For example, in April 2023, Compal Electronics from Taiwan introduced their new radiofrequency ablation (RFA) system, AblatePal. It’s specially made for percutaneous, intraoperative coagulation and ablation of soft tissue, aiming to partially or entirely treat non-resectable liver lesions. This system utilizes the heat energy generated through electrical resistance when current flows through the tissue, leading to the targeted tissue’s ultimate elimination. The system is used in medicinal therapeutic devices and is engineered to manage a variety of medical conditions, particularly cancer.
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Which Regions Are Driving Growth in the Tumor Ablation Therapy Devices Market?
North America was the largest region in the tumor ablation therapy devices market in 2023. Asia-Pacific was the second largest region in the tumor ablation therapy devices market. The regions covered in the tumor ablation therapy devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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This Report Delivers Insight On:
1. How big is the tumor ablation therapy devices market, and how is it changing globally?
2. Who are the major companies in the tumor ablation therapy devices market, and how are they performing?
3. What are the key opportunities and risks in the tumor ablation therapy devices market right now?
4. Which products or customer segments are growing the most in the tumor ablation therapy devices market?
5. What factors are helping or slowing down the growth of the tumor ablation therapy devices market?
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