The Tumor Ablation Market is segmented by Type (Radiofrequency ablation, Microwave ablation, Cryoablation, and Others), Application (Liver cancer, Lung cancer, Kidney cancer, and Breast and others), and Geography (North America, Europe, Asia, and Rest of World (ROW)). As per the Global Forecast research report 2024-2028 published by Technavio, the market size is estimated to grow by USD 1432.8 million, at a CAGR of 14.62% during the forecast period. There are several companies that are contributing to the market as per this report. Increasing adoption of image-guided tumor ablation .
Radiofrequency tumor ablation is a minimally invasive therapeutic approach that utilizes radiofrequency energy to heat and destroy cancerous cells within a tumor. This procedure involves the insertion of a needle electrode into the tumor site, delivering precise radiofrequency pulses to raise the temperature and ablate the tumor. The minimally invasive nature of this technique offers numerous advantages over traditional open surgery, including shorter hospital stays, quicker recovery times, and a reduced risk of complications. Radiofrequency ablation has been proven effective in treating various types of tumors, such as liver, lung, kidney, and bone metastases. Clinical studies have demonstrated that this procedure can achieve complete tumor ablation, resulting in significant tumor shrinkage or elimination, and ultimately, improved patient outcomes.
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The escalating incidence of cancer, particularly liver, lung, and renal cancer, in North America is fueling the demand for tumor ablation treatments. With an aging population and persistent risk factors like obesity and smoking, the number of new cancer cases continues to rise, expanding the potential patient base for these minimally invasive procedures. In 2022, an estimated 1,918,030 new cancer cases and 609,360 cancer deaths were reported in the US, equating to approximately 1,670 deaths daily. Lung cancer emerged as the leading cause of cancer fatalities, accounting for approximately 350 deaths per day. The growing healthcare expenditure in North America, coupled with favorable reimbursement policies for cancer treatments, is further bolstering the adoption of tumor ablation procedures.
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The Tumor Ablation Market is witnessing lucrative growth potential due to the increasing prevalence of cancer and the growing demand for minimally invasive therapies. Tumor ablation techniques, including Cryoablation, Microwave ablation, and Radiofrequency ablation, have emerged as effective mode of treatment for various clinical applications. These techniques use sensors, catheters, and electrodes to destroy tumors by applying extreme cold, heat, or electrical energy. Devices used in tumor ablation include ablation catheters, generators, and sensors. The high cost of these devices and surgical procedures has led to the need for cost containment measures, such as public funding and purchasing power parity. Patients and surgeons are increasingly turning to tumor ablation techniques for cancer control initiatives, especially in the geriatric population. The precision and accuracy of these techniques make them an attractive alternative to traditional ablative surgeries. The healthcare cost and recovery time associated with tumor ablation are significantly lower than those of surgical procedures, making them a cost-effective and efficient option for cancer treatment. The market for tumor ablation devices is expected to grow at a rapid pace due to the increasing demand for minimally invasive therapies and the aging population. In conclusion, the Tumor Ablation Market is poised for significant growth due to the increasing prevalence of cancer, the growing demand for minimally invasive therapies, and the need for cost containment measures. The market is expected to continue to grow as cancer control initiatives and precision medicine initiatives gain momentum.
According to Technavio, the global tumor ablation market is a segment of the expansive USD395.63 billion global healthcare equipment market. This market encompasses businesses and research entities specializing in the development of various product categories, such as capital equipment, instruments, implants, accessories, and consumables. These products are integral to the diagnosis, monitoring, and treatment of diverse diseases. The tumor ablation market's size is determined by Technavio through the consolidated revenue of manufacturers of diagnostic equipment and devices used in therapy areas. - The Tumor Ablation Market is experiencing significant growth, fueled by the . Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
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