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LONDON, GREATER LONDON , UK, December 8, 2023 /EINPresswire.com/ -- The tumor ablation therapy devices market has experienced rapid growth, escalating from $0.64 billion in 2023 to an anticipated $0.74 billion in 2024, reflecting an impressive Compound Annual Growth Rate (CAGR) of 15.8%. Poised for continued expansion, the tumor ablation therapy devices market is expected to reach $1.27 billion by 2028, maintaining a robust CAGR of 14.5%.
Tumor Ablation Therapy Devices Market Driver: Escalating Cancer Incidence
A key driver fueling the growth of the tumor ablation therapy devices market is the increasing prevalence of cancer, a major global health concern. Cancer ranks as the second leading cause of death, contributing to approximately 1 in 6 deaths worldwide. Tumor ablation, a minimally invasive procedure, has gained prominence in treating various tumors, including those in the lungs, liver, kidneys, and bones. Notably, in 2023, the American Cancer Society Inc. reported an expected increase in new cancer cases in the US to 1,958,310, reinforcing the critical role of tumor ablation in cases where conventional treatments like chemotherapy or radiotherapy have proven ineffective.
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Emerging Trend: Technology Advancements Enhance Treatment Efficacy
A prominent trend in the tumor ablation therapy devices market is the focus on technological advancements to improve the efficacy of procedures. Major industry players are investing in innovations aimed at reducing procedure duration, enhancing safety, minimizing radiation exposure, facilitating faster learning curves, and improving treatment outcomes. Examples include J&J Medicals' NEUWAVE microwave ablation system, the first minimally invasive device capable of placing electrodes into cancer cells to elevate temperatures and eradicate cancer cells. Additionally, Compal Electronics introduced AblatePal, a radiofrequency ablation (RFA) system designed for the percutaneous, intraoperative coagulation, and ablation of soft tissue, addressing conditions such as non-resectable liver lesions.
Tumor Ablation Therapy Devices Market Segmentation
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
Regional Dynamics: North America Leads, Asia-Pacific Follows
In 2023, North America emerged as the largest region in the tumor ablation therapy devices market, driven by a robust healthcare infrastructure and increasing adoption of advanced medical technologies. Asia-Pacific secured the second-largest position, reflecting a growing awareness of minimally invasive cancer treatments and rising healthcare investments in the region.
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Tumor Ablation Therapy Devices Global Market Report 2023 from TBRC covers the following information:
• Market size date for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Tumor Ablation Therapy Devices Global Market Report 2023 by The Business Research Company is the most comprehensive report that provides insights on tumor ablation therapy devices market size, tumor ablation therapy devices market drivers and trends, tumor ablation therapy devices market major players, tumor ablation therapy devices market competitors' revenues, tumor ablation therapy devices market positioning, and tumor ablation therapy devices market growth across geographies. The tumor ablation therapy devices market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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