The global tumor ablation market is projected to reach USD 1.4 billion by 2029 from USD 0.8 billion in 2024, at a CAGR of 10.0% from 2024 to 2029. Aging population, coupled with a rise in tumor cases such as osteoid osteoma, has increased the demand for these products. Moreover, increased awareness of ablation procedures over conventional procedures has driven demand for tumor ablation systems.
Scope of the Report
Years Considered for the Study
2022-2029
Base Year
2023
Forecast Period
2024-2029
Units Considered
Value (USD) Billion
Segments
Technology, Product type, mode of treatment, application, end user, and region
Regions covered
North America, Europe, Asia Pacific, Latin America, Middle East and Africa
"The radiofrequency ablation segment of technology segment held the largest share of the market in 2023"
The tumor ablation market is segmented based on technology into radiofrequency ablation, microwave ablation, laser ablation, high-intensity focused ultrasound (HIFU), cryoablation, and irreversible electroporation (IRE). As the global population ages, conditions affecting the major organs are more prevalent, contributing to the demand for supportive and rehabilitative solutions. Additionally, advancements in technology have led to the development and incorporation of ablation systems, expanding the market further.
"The generators segment is projected to register the highest CAGR during the forecast period."
Based on product type, the tumor ablation market is segmented into generators and probes/electrodes. The generators segment accounted for the largest market share in 2023. The probes/electrodes market is witnessing growth due to recent regulatory approvals of ablation systems and favourable reimbursement policies. The probes/electrodes have undergone certain technological advancements supporting the precise ablation procedure. The growing awareness of the importance of early detection and the shift towards value-based healthcare has also contributed to the increasing demand for soft and elastic braces and its growing market.
"The laparoscopic ablation segment for mode of treatment segment is projected to register a significant CAGR during the forecast period."
Based on mode of treatment, the tumor ablation market is segmented into surgical ablation, laparoscopic ablation, and percutaneous ablation . The surgical ablation segment accounted for the largest market share in 2023. Growing investments in R&D and rising demand for less invasive alternative is driving the growth of this segment.
"The liver cancer segment for application segment held held the largest share of the market in 2022".
Based on application, the tumor ablation market is segmented into liver cancer, lung cancer, bone cancer, kidney cancer, and other applications. The liver cancer was the major segment, accounted for the largest share of the tumor ablation market in 2023. Rising cancer incidence is supported by the increasing aging population. This ultimately drives the adoption of tumor ablation systems. A rising number of campaigns for the early detection of symptoms is also contributing to the increasing utilization of ablation treatment in end-user facilities.
"The cancer care center segment for the end user segment is projected to register a significant CAGR during the forecast period."
The tumor ablation market is segmented by end user into hospitals and clinics, cancer care centers, and ambulatory surgery centers. The hospitals and clinics segment accounted for a significant market share in 2023. The emphasis on non- and minimally invasive treatment among the geriatric population helps the growing preference for ablation treatment solutions, driving the integration of tumor ablation systems into hospital settings.
"The market in the North America region is expected to witness the highest growth during the forecast period."
The North America tumor ablation market is expected to hold a major share during the forecast period. The US market holds a dominating position in the North American market, primarily due to the region's high healthcare spending, rising prevalence of target diseases, a growing number of non-invasive treatments, and technological advancements in ablation systems.
A breakdown of the primary participants referred to for this report is provided below:
By Company Type: Tier 1-30%, Tier 2-42%, and Tier 3- 28%
By Designation: Director-level-10%, C-level-14%, and Others-76%
By Region: North America-40%, Europe-30%, Asia Pacific-22%, Latin America-6%, and the Middle East & Africa-2%
The prominent players in the tumor ablation market are Medtronic Plc (Ireland), Johnson & Johnson MedTech (US), Stryker Corporation (US), Varian Medical Systems, Inc. (US), AngioDynamics, Inc. (US), Boston Scientific Corporation (US) among others.
Research Coverage
This report studies the tumor ablation market based on technology, product type, mode of treatment, application, end user, and region. It also covers the factors affecting market growth, analyzes the various opportunities and challenges in the market, and provides details of the competitive landscape for market leaders. Furthermore, the report analyzes micro markets with respect to their growth trends and forecasts the revenue of the market segments with respect to five main regions (and the respective countries in these regions).
Reasons to Buy the Report
The report will help the market leaders/new entrants with information on the closest approximations of the revenue numbers for the overall tumor ablation market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies. The report also helps stakeholders understand the market pulse and provides information on key market drivers, restraints, challenges, and opportunities.
This report provides insights on the following pointers:
Analysis of key drivers (increasing cancer incidence and rising geriatric population, rising focus on minimally invasive procedures, technological advancements in the field of tumor ablation, rising number of awareness campaigns and early detection), restraints (high cost of tumor ablation systems, unfavorable reimbursement scenario), opportunities (rising healthcare expenditure across emerging countries, increasing number of hospitals), and challenges (rising adoption of refurbished tumor ablation systems, hospital budget cuts) influencing the growth of the tumor ablation market
Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the tumor ablation market
Market Development: Comprehensive information about lucrative markets-the report analyses the tumor ablation market across varied regions.
Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the tumor ablation market
Competitive Assessment: In-depth assessment of market shares, growth strategies, and service offerings of leading players - such as Johnson & Johnson (US), Medtronic Plc (Ireland), Stryker Corporation (US), Varian Medical Systems, Inc. (US), Olympus (Japan), AngioDynamics, Inc. (US), Boston Scientific Corporation (US) among others.
TABLE OF CONTENTS
1 INTRODUCTION
1.1 STUDY OBJECTIVES
1.2 MARKET DEFINITION
1.2.1 INCLUSIONS & EXCLUSIONS
1.3 MARKET SCOPE
1.3.1 MARKETS COVERED
1.3.2 YEARS CONSIDERED
1.3.3 CURRENCY CONSIDERED
1.4 RESEARCH LIMITATIONS
1.5 KEY STAKEHOLDERS
1.6 SUMMARY OF CHANGES
1.7 RECESSION IMPACT
2 RESEARCH METHODOLOGY
2.1 RESEARCH DATA
FIGURE 1 RESEARCH DESIGN
2.1.1 SECONDARY RESEARCH
2.1.2 PRIMARY RESEARCH
2.1.2.1 Primary sources
2.1.2.2 Key industry insights
2.1.2.3 Breakdown of primaries
FIGURE 2 BREAKDOWN OF PRIMARY INTERVIEWS: SUPPLY-SIDE AND DEMAND-SIDE PARTICIPANTS
FIGURE 3 BREAKDOWN OF PRIMARY INTERVIEWS: BY COMPANY TYPE, DESIGNATION, AND REGION
2.2 MARKET SIZE ESTIMATION
FIGURE 4 RESEARCH METHODOLOGY: HYPOTHESIS BUILDING
2.2.1 BOTTOM-UP APPROACH
2.2.1.1 Approach 1: Company revenue estimation approach
FIGURE 43 YEAR-TO-DATE (YTD) PRICE TOTAL RETURN AND 5-YEAR STOCK BETA OF KEY VENDORS
12.8 BRAND/PRODUCT COMPARISON
FIGURE 44 BRAND/PRODUCT COMPARATIVE ANALYSIS
12.9 COMPETITIVE SCENARIO
12.9.1 PRODUCT LAUNCHES/APPROVALS
TABLE 104 TUMOR ABLATION MARKET: PRODUCT LAUNCHES, JANUARY 2021-MARCH 2024
12.9.2 DEALS
TABLE 105 TUMOR ABLATION MARKET: DEALS, JANUARY 2021-MARCH 2024
12.9.3 EXPANSIONS
TABLE 106 TUMOR ABLATION MARKET: EXPANSIONS, JANUARY 2021-MARCH 2024
13 COMPANY PROFILES
13.1 KEY PLAYERS
(Business overview, Products offered, Recent developments, MnM view, Right to win, Strategic choices, and Weaknesses and Competitive threats)**
13.1.1 MEDTRONIC PLC
TABLE 107 MEDTRONIC PLC: COMPANY OVERVIEW
FIGURE 45 MEDTRONIC PLC: COMPANY SNAPSHOT (2023)
TABLE 108 MEDTRONIC PLC: PRODUCTS OFFERED
TABLE 109 MEDTRONIC PLC: PRODUCT APPROVALS
13.1.2 JOHNSON & JOHNSON MEDTECH (ETHICON)
TABLE 110 JOHNSON & JOHNSON MEDTECH: COMPANY OVERVIEW
FIGURE 46 JOHNSON & JOHNSON MEDTECH: COMPANY SNAPSHOT (2022)
TABLE 111 JOHNSON & JOHNSON MEDTECH: PRODUCTS OFFERED
13.1.3 STRYKER CORPORATION
TABLE 112 STRYKER CORPORATION: COMPANY OVERVIEW
FIGURE 47 STRYKER CORPORATION: COMPANY SNAPSHOT (2023)
TABLE 113 STRYKER CORPORATION: PRODUCTS OFFERED
TABLE 114 STRYKER CORPORATION: PRODUCT APPROVALS
TABLE 115 STRYKER CORPORATION: EXPANSIONS
13.1.4 VARIAN MEDICAL SYSTEMS, INC.
TABLE 116 VARIAN MEDICAL SYSTEMS, INC.: COMPANY OVERVIEW
FIGURE 48 VARIAN MEDICAL SYSTEMS, INC.: COMPANY SNAPSHOT (2023)
TABLE 117 VARIAN MEDICAL SYSTEMS, INC.: PRODUCTS OFFERED
TABLE 118 VARIAN MEDICAL SYSTEMS, INC.: PRODUCT LAUNCHES
TABLE 119 VARIAN MEDICAL SYSTEMS, INC.: DEALS
13.1.5 ANGIODYNAMICS, INC.
TABLE 120 ANGIODYNAMICS, INC.: COMPANY OVERVIEW
FIGURE 49 ANGIODYNAMICS, INC.: COMPANY SNAPSHOT (2023)
TABLE 121 ANGIODYNAMICS, INC.: PRODUCTS OFFERED
TABLE 122 ANGIODYNAMICS, INC.: DEALS
13.1.6 BOSTON SCIENTIFIC CORPORATION
TABLE 123 BOSTON SCIENTIFIC CORPORATION: COMPANY OVERVIEW
FIGURE 50 BOSTON SCIENTIFIC CORPORATION: COMPANY SNAPSHOT (2023)
TABLE 124 BOSTON SCIENTIFIC CORPORATION: PRODUCTS OFFERED
13.1.7 EDAP TMS S.A.
TABLE 125 EDAP TMS S.A.: COMPANY OVERVIEW
FIGURE 51 EDAP TMS S.A.: COMPANY SNAPSHOT (2023)
TABLE 126 EDAP TMS S.A.: PRODUCTS OFFERED
13.1.8 MERMAID MEDICAL
TABLE 127 MERMAID MEDICAL: COMPANY OVERVIEW
TABLE 128 MERMAID MEDICAL: PRODUCTS OFFERED
13.1.9 CANYON MEDICAL INC.
TABLE 129 CANYON MEDICAL INC.: COMPANY OVERVIEW
TABLE 130 CANYON MEDICAL INC.: PRODUCTS OFFERED
13.1.10 OLYMPUS CORPORATION
TABLE 131 OLYMPUS CORPORATION: COMPANY OVERVIEW
FIGURE 52 OLYMPUS CORPORATION: COMPANY SNAPSHOT (2023)
TABLE 132 OLYMPUS CORPORATION: PRODUCTS OFFERED
TABLE 133 OLYMPUS CORPORATION: PRODUCT LAUNCHES
13.1.11 CHONGQING HAIFU MEDICAL TECHNOLOGY CO., LTD.
TABLE 134 CHONGQING HAIFU MEDICAL TECHNOLOGY CO., LTD.: COMPANY OVERVIEW
TABLE 135 CHONGQING HAIFU MEDICAL TECHNOLOGY CO., LTD.: PRODUCTS OFFERED
13.1.12 MERIT MEDICAL SYSTEMS, INC.
TABLE 136 MERIT MEDICAL SYSTEMS, INC.: COMPANY OVERVIEW
FIGURE 53 MERIT MEDICAL SYSTEMS, INC.: COMPANY SNAPSHOT (2022)
TABLE 137 MERIT MEDICAL SYSTEMS, INC.: PRODUCTS OFFERED
13.1.13 BIOVENTUS INC.
TABLE 138 BIOVENTUS INC.: COMPANY OVERVIEW
FIGURE 54 BIOVENTUS INC.: COMPANY SNAPSHOT (2023)
TABLE 139 BIOVENTUS INC.: PRODUCTS OFFERED
TABLE 140 BIOVENTUS INC.: DEALS
13.1.14 ICECURE MEDICAL LTD.
TABLE 141 ICECURE MEDICAL LTD.: COMPANY OVERVIEW
FIGURE 55 ICECURE MEDICAL LTD.: COMPANY SNAPSHOT (2023)
TABLE 142 ICECURE MEDICAL LTD.: PRODUCTS OFFERED
TABLE 143 ICECURE MEDICAL LTD.: PRODUCT APPROVALS
TABLE 144 ICECURE MEDICAL LTD.: DEALS
13.1.15 CONMED CORPORATION
TABLE 145 CONMED CORPORATION: COMPANY OVERVIEW
FIGURE 56 CONMED CORPORATION: COMPANY SNAPSHOT (2023)
TABLE 146 CONMED CORPORATION: PRODUCTS OFFERED
13.2 OTHER PLAYERS
13.2.1 MONTERIS MEDICAL
13.2.2 MIANYANG SONIC ELECTRONIC
13.2.3 RF MEDICAL
13.2.4 MINIMAX MEDICAL HOLDING GROUP
13.2.5 SONABLATE
13.2.6 ECO MEDICAL TECHNOLOGY (NANJING) CO., LTD.
13.2.7 STARMED CO., LTD.
13.2.8 SURGNOVA
13.2.9 CREO MEDICAL
13.2.10 MEDSPHERE SHANGHAI
*Details on Business overview, Products offered, Recent developments, MnM view, Right to win, Strategic choices, and Weaknesses and Competitive threats might not be captured in case of unlisted companies.