Global
tumor ablation market is expected to reach USD 1.5 billion by 2022, according
to a new study by Grand View Research Inc. Rising prevalence of different forms
of cancer and increasing technological advancements in the field of thermal
ablation techniques are the most prominent drivers of the market.
Besides
the use of thermal ablation, techniques such as laser ablation, irreversible
electroporation, High Intensity Focused Ultrasonography (HIFU) are also
clinically growing, concurrently propelling the tumor ablation industry.
Occurrence
of lung, breast, and liver cancer is on the rise globally. According to the
Center for Disease Control (CDC) and other organizations, currently, about
210,828 cases of lung cancer, 2.9 million cases of breast cancer, and over 2.7
million cases of prostate cancer are reported in the U.S. alone.
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In terms
of technological advancement, companies such as SonaCare Medical are coupling
ablation techniques with other technologies to improve accuracy, performance,
and level of care. SonaLink, a remote patient monitoring platform, was put to
use along with Sonatherm ablation system to enable physicians to enhance
patient care experience, thereby promoting market growth.
The
industry is also anticipated to witness mergers and joint collaborations as a
tool to curb rising competition. For instance, Boston Scientific Corporation
acquired C.R. Bard Electrophysiology, which led to a 48.0% hike in profit for
the former company.
Further
key findings from the study suggest:
Microwave
ablation technology is expected to be the fastest growing segment over the
forecast period at a CAGR of over 15.0%. Reduction in the procedure time and
low cost for treatment are some of the attributes favoring growth.
In terms
of treatment, surgical ablation is predicted to form the largest market by 2022
with about 35.0% share. Liver and lung cancer ablation require surgical
procedures, and since these form the largest and fastest growing segments, they
concomitantly propel surgical ablation growth.
Lung
cancer forms the most lucrative market and is anticipated to be the fastest
growing segment over the forecast period. By 2022, it is expected to contribute
about 15.0% of the revenue share owing to its rising prevalence rate across the
globe.
According
to market forecast for 2022, North America is expected to dominate the market
and Asia Pacific is anticipated to witness the fastest growth. Augmenting
growth in the cancer prevalence and rising healthcare expenditure in regions
such as China, Korea, and India are factors responsible for this rapid growth.
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