Tumor Ablation Market Growth & Trends
The global tumor ablation market size is expected to reach USD 4.07 billion by 2030, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 13.6% from 2023 to 2030. The increasing incidence of cancer and the high demand for effective treatment options are the major factors driving the market. According to Cancer Research UK, the incidence rate of cancer is expected to grow by 62% from 2018 to 2040. Lung, breast, bowel, and prostate are the most common sites reported with cancer in 2018.
Increasing inclination towards minimally invasive procedures owing to the benefits such as speedy recovery, patient comfort, and shorter turnaround time are the factors expected to foster the demand for advanced tumor ablation techniques during the forecast period. The integration of tumor ablation devices with efficient interventional imaging modalities such as ultrasound, MRI, and CT is anticipated to revolutionize ablation procedures performed in outpatient settings. This is expected to significantly eliminate the cost to the patient including hospital stays.
Supportive government initiatives such as screening programs, awareness campaigns, and cancer schemes for various cancer types are expected to increase the number of diagnosed cases. For instance, in 2019, the National Health Scheme (NHS) started offering lung cancer screening programs in some areas of England. Such initiatives are anticipated to escalate the need for cancer management in early cancer stages, thereby facilitating the demand for tumor ablation therapy.
The rising demand for advanced medical technologies, coupled with improving financing capabilities of healthcare facilities, is expected to increase the demand for tumor ablation devices during the forecast period. For instance, Maimonides Medical Centre, New York announced the purchase of advanced High Intensity Focused Ultrasound (HIFU) ablation device (Focal One by EDAP TMS SA) in 2019 and it has become the second hospital in the U.S. to be equipped with HIFU technology.
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Tumor Ablation Market Report
Tumor Ablation Market Report Highlights
- The radiofrequency ablation technology segment dominated the market with more than 35.0% share in 2022 owing to its prominent application in solid tumor removal
- By treatment, percutaneous ablation is expected to witness lucrative growth over the forecast period due to the rising demand for minimally invasive procedures offering faster recovery and higher safety
- Tumor ablation in lung cancer treatment is anticipated to witness the fastest growth over the forecast period
- A sedentary lifestyle, increasing incidences of smoking, and rising air pollution are contributing to the growing prevalence of lung cancer
- North America dominated the market in 2022 owing to the factors such as the increasing prevalence of cancer, high purchasing power parity, government support for quality healthcare, and the availability of reimbursement
