According to a new market research report "Tumor Ablation Market by Procedure Volume, Technology (RF, Microwave, Cryoablation, Others), Department (Interventional Radiology, Surgery, Oncology), Application (Liver Cancer, Lung Cancer, Kidney Cancer, Bone Metastasis) - Global Forecasts to 2019", published by MarketsandMarkets, the Tumor Ablation Market is expected to reach around $462.0 Million growing at a CAGR of 11.50% by 2019.
This report studies the Global Tumor Ablation Market over the forecast period of 2014 to 2019. Based on the type of technology, the global tumor ablation market is classified into four major segments, namely radiofrequency, microwave, cryoablation, and other technologies (including irreversible electroporation, radio-iodine, HIFU, and laser ablation) segments. Moreover, based on type of departments, the global tumor ablation market is classified into three segments, namely, interventional radiology, surgery, and oncology. The global tumor ablation market is further classified into five application segments, namely liver cancer, lung cancer, kidney cancer, bone metastasis, and others (includes cancer of prostate, breast, colorectal, neuroendocrine, head, neck, and lumbar vertebrae).
A number of factors such as growing geriatric population, coupled with an increasing population base of cancer patients, technological advancements in the ablation devices, increasing demand for minimally invasive cancer treatment procedures, growing awareness about benefits about ablation procedures over conventional therapeutic and surgical procedures, and rising number of hospitals and surgical centers are fuelling the growth of the global tumor ablation market. On the other hand, cost-containment measures taken by various governments and ongoing healthcare reforms in the U.S. are some of the key factors hampering the market growth. As of 2014, North America holds the largest share of the Tumor Ablation Market, followed by Europe. However, the Asia-Pacific market is expected to grow at highest CAGR during 2014 to 2019.
A number of factors such as large patient population base, growing government support to increase public access for advanced therapeutic and surgical procedures, and strengthening healthcare infrastructure across the region are stimulating the growth of the tumor ablation market in the Asia-Pacific region. AngioDynamics, Inc. (U.S.), Boston Scientific Corporation (U.S.), Covidien, Plc (Ireland), Galil medical, Inc. (U.S.), HealthTronics, Inc. (U.S.), Mermaid Medical (Italy), Medtronic, Inc. (U.S.), CONMED Corporation (U.S.), Olympus Corporation (Japan), and Smith & Nephews Plc (U.K.) are the major players in the global tumor ablation market.