North America is the Largest Tumor Ablation Market Due to the Mounting Occurrence of Cancer

Ablation is the method to destroy tumor without removing it, which is used in patients with few small tumors, when surgery is not preferred. The global tumor ablation market is growing at a significant rate due to increasing prevalence of cancer, and rapid growth in geriatric population. Different types of technology contributed to the tumor ablation industry size. The market has witnessed extreme demand for radiofrequency ablation over the last few years, due to easiness of treatment and continuing growths of technologically innovative radiofrequency tumor ablation.

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The global tumor ablation market has also been subdivided by application into liver cancer, bone metastasis, lung cancer, kidney cancer and others. Liver cancer segment hold the major share in the market due to mounting occurrence of liver cancer. For instance, according to GLOBOCAN, liver cancer is the second most common cause of death from cancer globally, approximately 746,000 deaths occurred due to liver cancer in 2012. Moreover, lung cancer is expected to grow at the fastest rate due to escalating air pollution, boosting rate of smoking and sedentary lifestyle. For instance, according to GLOBOCAN globally approximately 1.8 million new lung cancer cases were diagnosed in 2012.

The rapid expanding aging population, escalating occurrence of cancer, and technological improvement in ablation devices are the primary growth drivers for tumor ablation market. For instance, according to GLOBOCAN globally approximately 14.1 million new cancer cases were diagnosed and there were 8.2 million cancer deaths in 2012. In addition, according to World Health Organization (WHO), in 2015 approximately 8.8 million people died due to cancer. Moreover, approximately 70% of the deaths from cancer occur in low and middle income countries.

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The cost reserve procedures taken by various governments, strict regulatory requirements of product introduction, and adverse regulatory strategies in the U.S. are the major challenges for the growth of tumor ablation market.

Geographically, North America is the largest tumor ablation market due to the mounting occurrence of cancer, boosting government funding for cancer research, expanding geriatric population and intensifying need for minimally invasive procedure for cancer treatment. For instance, according to GLOBOCAN in the U.S. approximately 1.6 million new cancer cases were diagnosed and there were 0.6 million cancer deaths in 2012.

Asia-Pacific is observed to witness the fastest growth in the market as the region comprises of largest population. In addition, growing medical tourism, expanding geriatric population, boosting government initiates for reconstruction of healthcare infrastructure and minimally invasive surgical procedures are also creating a positive impact on the tumor ablation market growth in the region.

Key players in the industry are investing in the development of innovative and advance ablation products, which is strengthening their position in the market. In April 2018, Medtronic launched OptiShere embolization sphere designed for embolization of hypervascular tumors in the U.S.

In addition, in April 2018 Medtronic launched the Visualase MRI-Guided Laser Ablation System, to provide advanced MRI-guided laser ablation technology in the Europe. Medtronic, PLC, Angiodynamics, Inc., Healthtronics, Inc., Galil Medical, Inc., Boston Scientific Corporation, Neuwave Medical, Inc., Edap Tms S.A., Mermaid Medical A/S, Sonacare Medical, LLC, and Misonix, Inc. are some of the key players offering ablation products.

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