LONDON, July 29, 2015 /PRNewswire/ -- The global tumor
ablation market is poised to grow at a CAGR of 11.5% during the
forecast period (2015-2020), and is expected to reach a value of
~515.2 million by 2020. Although mature markets (such as the U.S.,
Germany, France, and the U.K.) hold larger shares in
the tumor ablation market, the Asia-Pacific region is expected to grow at the
highest CAGR in the forecast period. Growth in the tumor ablation
market is driven by factors such as growing geriatric population
across the world, increasing population base for cancer patients,
technological advancements in ablation devices, increasing number
of hospitals and surgical and ablation centers, and growing
awareness regarding the benefits offered by ablation procedures
over those of conventional therapeutic and surgical procedures.
However, factors such as cost-containment measures taken by various
governments and ongoing healthcare reforms in the U.S. are
restraining the growth of this market. In addition, therapeutic
challenges related to ablation procedures and stringent regulatory
guidelines leading to significant increase in gestation period of
product launches are posing significant challenges for the growth
of the tumor ablation market.
In this report, the global tumor ablation market is segmented on
the basis of technology (radiofrequency ablation, microwave
ablation, cryoablation, and other technologies), mode of treatment
(surgical, laparoscopic, and percutaneous ablation), and
application (liver cancer, lung cancer, kidney cancer, bone
metastasis, and other applications). The radiofrequency ablation
technology segment accounted for the largest share of the global
tumor ablation market in 2014, followed by the microwave ablation
technology market. Factors such as significant awareness in the
medical community about the application of radiofrequency ablation
in cancer treatments, presence of a large number of radiofrequency
ablation centers across the globe, and low procedural costs
associated with radiofrequency tumor ablation are driving the
growth of the radiofrequency tumor ablation market.
Geographically, North America
(comprising the U.S. and Canada)
commands the largest share of the global tumor ablation market in
2014, followed by Europe. The
tumor ablation market in North
America is primarily driven by factors such as early
introduction and high adoption rate of tumor ablation products in
the region, significant trend of replacing older technologies with
advanced and innovative therapeutic techniques (such as microwave
ablation and cryoablation), and increasing private/public funding
to develop and commercialize novel tumor ablation products.
However, financial constraints faced by market players are limiting
the growth of the tumor ablation market in this region. The
Asia-Pacific region is poised to
grow at the highest CAGR in the next five years, owing to factors
such as large population base paired with high prevalence of
various cancers (such as liver, lung, and kidney) in the region,
ongoing government initiatives for development and modernization of
healthcare infrastructure, increasing adoption due to continuously
decreasing prices of tumor ablation products, and rising trends
related to localized manufacturing due to growing focus of global
giants in the APAC market.
The global tumor ablation market is moderately competitive with
various global as well as local market players. As of 2014, the
global tumor ablation market was dominated by Medtronic, plc
(U.S.), AngioDynamics, Inc. (U.S.), HealthTronics, Inc. (U.S.),
Galil Medical, Inc. (U.S.), and Boston Scientific Corporation
(U.S.) that together accounted for ~83.0% of the market. New
product launches; partnerships, agreements, and collaborations; and
strategic acquisitions are the major strategies adopted by most of
the market players to achieve growth in the global tumor ablation
market.
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The report provides insights on the following pointers:
- Market Penetration: Comprehensive information on tumor ablation
products offered by the top 10 players in the global tumor ablation
market. The report analyzes the tumor ablation market by
technology, mode of treatment, and application across key
geographic regions
- Product Development/Innovation: Detailed insights on upcoming
tumor ablation technologies, research and development activities,
and new product launches in the global tumor ablation market
- Market Development: Comprehensive information about lucrative
emerging markets. The report analyzes the markets for various tumor
ablation products across key geographic regions
- Market Diversification: Exhaustive information about new
products, untapped geographies, recent developments, and
investments in the global tumor ablation market
- Competitive Assessment: In-depth assessment of market shares,
strategies, products, distribution networks, and manufacturing
capabilities of leading players in the global tumor ablation
market
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