Tumor Ablation Market Growth On The Basis Of Type, Application, Region & Forecast To 2030Posted by Mrudula Anil Karmarkar on June 28th, 2023 The global tumor ablation market size is expected to reach USD 4.08 billion by 2030, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 13.5% from 2022 to 2030. The increasing incidence of cancer and the high demand for effective treatment options are the major factors driving the market. According to Cancer Research UK, the incidence rate of cancer is expected to grow by 62% from 2018 to 2040. Lung, breast, bowel, and prostate are the most common sites reported with cancer in 2018. Increasing inclination towards minimally invasive procedures owing to the benefits such as speedy recovery, patient comfort, and shorter turnaround time are the factors expected to foster the demand for advanced tumor ablation techniques during the forecast period. The integration of tumor ablation devices with efficient interventional imaging modalities such as ultrasound, MRI, and CT is anticipated to revolutionize ablation procedures performed in outpatient settings. This is expected to significantly eliminate the cost to the patient including hospital stays. Supportive government initiatives such as screening programs, awareness campaigns, and cancer schemes for various cancer types are expected to increase the number of diagnosed cases. For instance, in 2022, the National Health Scheme (NHS) started offering lung cancer screening programs in some areas of England. Such initiatives are anticipated to escalate the need for cancer management in early cancer stages, thereby facilitating the demand for tumor ablation therapy. The rising demand for advanced medical technologies, coupled with improving financing capabilities of healthcare facilities, is expected to increase the demand for tumor ablation devices during the forecast period. For instance, Maimonides Medical Centre, New York announced the purchase of advanced High Intensity Focused Ultrasound (HIFU) ablation device (Focal One by EDAP TMS SA) in 2022 and it has become the second hospital in the U.S. to be equipped with HIFU technology. To Request Sample Copy of this report, click the link: https://www.grandviewresearch.com/industry-analysis/tumor-ablation-market/request/rs1 The rising prevalence of cancer and the high demand for safer therapeutic options are major factors contributing to the growth of the market. According to the WHO, it is projected that around 10-11 million cancer cases will be diagnosed each year globally by 2030. The number of new cancer cases is expected to increase by more than 80% in low-income countries compared to half the rate in high-income countries (40%) from 2008 to 2030. Lucrative growth potential in currently available therapeutic options and high demand for minimally and non-invasive therapies are the factors expected to drive the market in the upcoming years. Tumor Ablation Market Report Highlights
Tumor Ablation Market Report Scope
Increasing inclination of surgeons and patients toward minimally invasive procedures owing to the benefits such as speedy recovery, patient comfort, and reduced turnaround time are the factors expected to drive the demand for advanced tumor ablation techniques over the forecast period. Advanced tumor ablation procedures are generally performed on an outpatient basis and do not require any hospital admission compared with conventional therapies, thereby significantly reducing the total healthcare cost. The ablative surgeries are the preferred therapy for tumors of smaller sizes. Thus, its procedural volume is indirectly dependent on the yearly cancer screening rates. The market was significantly impacted in 2020 as the number of newly diagnosed cancer cases significantly dropped during COVID owing to fewer screening initiatives undertaken by concerned authorities. List of Key Players in Tumor Ablation Market
Like it? Share it! More by this author |