Product ID: SQMIG35A2494
Global Tumor Ablation Market Size, Share, Growth Analysis, By Technology(Radiofrequency Ablation, Microwave Ablation), By Treatment(Surgical Ablation, Laparoscopic Ablation), By Application(Kidney Cancer, Liver Cancer) - Industry Forecast 2024-2031
Report ID:
SQMIG35A2494 |
Region:
Global |
Published Date: March, 2024
Pages:
219
|
Tables:
95 |
Figures:
76
Global Tumor Ablation Market Insights
Global Tumor Ablation Market size was valued at USD 1.48 Billion in 2022 and is poised to grow from USD 1.68 Billion in 2023 to USD 4.63 Billion by 2031, by rising at a CAGR 13.5% during the forecast period (2024-2031).
The increasing prevalence of cancer & the strong desire for safer therapeutic choices are important factors driving market expansion. According to the WHO, by 2030, 10-11 million instances of cancer are expected to be diagnosed globally each year. The number of new cases of cancer in low-income nations is anticipated to rise by more than 80%, compared to half the pace in high-income countries (40%). Lucrative potential for expansion in currently existing therapeutic choices, as well as a strong desire for minimally & non-invasive therapies, are projected to drive the market in the future years.
The growing preference of surgeons and patients for minimally invasive procedures due to benefits such as faster recovery, patient comfort, the shorter turnaround time is likely to boost demand for advanced tumor ablation methods over the forecast period. When opposed to conventional therapy, advanced tumor ablation procedures are often conducted on an outpatient basis & lack any hospital admission, considerably lowering total healthcare costs. Ablative operations are the primary treatment for tiny tumors. As a result, its procedural number is indirectly affected by yearly cancer detection rates. The market was considerably impacted in 2020 as the number of cases of cancer that were newly diagnosed decreased significantly during COVID due to less screening measures done by relevant authorities.
According to a survey by Our World in Data (OWD), an initiative of Global Change Data Lab, more than 70% of cancer diagnoses occurred in persons over the age of 50. The number is likely to rise in lockstep with the growing senior population. As the body's basic systems deteriorate with age, the aging population is the primary target group for noninvasive ablation procedures. As a result, the rising aging population is predicted to drive up demand for tumor ablation procedures over the projection period.
The drivers motivating market participants to consistently upgrade and launch advanced products are technological advancements to improve accuracy, mobility, and cost-effectiveness. These technological developments include image-guided devices, HIFU, and cryoablation. One of the upcoming techniques that is expected to play a big role in market expansion is the use of the cooled radiofrequency degeneration technique with externally chilled radiofrequency probes to increase the size of the lesion. This procedure allows for total degeneration of the sacroiliac joint, resulting in pain relief.
Global Tumor Ablation Market Report Snapshots
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