Market Size –
The oncology ablation market size has grown rapidly in recent years. It will grow from $1.15 billion in 2023 to $1.30 billion in 2024 at a compound annual growth rate (CAGR) of 12.6%. The growth in the historic period can be attributed to the increasing prevalence of cancer, growth in preference for minimally invasive ablation techniques, increased healthcare spending, approvals of new ablation devices and technologies, improved cancer screening programs, and growth in the geriatric population.
The oncology ablation market size is expected to see rapid growth in the next few years. It will grow to $2.09 billion in 2028 at a compound annual growth rate (CAGR) of 12.7%. The growth in the forecast period can be attributed to ongoing advancements in ablation technology, increasing adoption of ablation technologies in emerging economies, growth in personalized and precision medicine, increasing governmental support and funding for cancer research and treatment innovations, rising demand for outpatient procedures, enhanced public and professional awareness. Major trends in the forecast period include integration of artificial intelligence (AI), advancements in imaging technologies, robotic-assisted ablation, introduction of advanced ablation devices with improved efficacy, safety, and user-friendliness, utilization of telemedicine for pre- and post-ablation care, allowing for remote monitoring and follow-up.
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Scope Of Oncology Ablation Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Oncology Ablation Market Overview
Market Drivers –
The increasing number of cancer diagnoses is expected to propel the growth of the oncology ablation market going forward. Cancer diagnosis refers to the process of identifying and confirming the presence of cancer through medical tests, imaging, and pathological analysis of tissue samples. The rising number of cancer diagnoses is due to several factors, such as aging populations, improved screening programs, heightened awareness leading to earlier detection, and environmental factors. Oncology ablation is used to treat tumors detected through cancer diagnoses, offering minimally invasive options to destroy tumors and improve patient outcomes. For instance, in May 2024, according to the National Cancer Institute, the US-based federal government’s principal agency for cancer research and training, around 2,001,140 new cancer cases are expected in the United States in 2024, with prostate, lung, and colorectal cancers comprising approximately 48% of all diagnoses in men. By 2040, the annual number of new cancer cases is projected to surge to 29.9 million, highlighting a significant future increase in cancer incidence. Furthermore, in June 2022, according to the American Cancer Society, a US-based non-profit cancer awareness organization, around 1.9 million new cancer cases were diagnosed in the USA in 2022. Therefore, an increasing number of cancer diagnoses will drive the oncology ablation market.
Market Trends –
Major companies operating in the oncology ablation market are developing innovative products such as advanced ablation systems with improved precision, integrated imaging technologies for real-time guidance, and enhanced safety features. Advanced ablation systems with improved precision refer to medical devices that use advanced technology to precisely target and destroy abnormal tissue, such as tumors, while minimizing damage to surrounding healthy tissue. For instance, in March 2024, Medtronic Plc, an Ireland-based medical equipment manufacturing company, received US Food and Drug Administration approval for the OsteoCool 2.0 bone tumor ablation system, designed to treat painful bone metastases and benign tumors like osteoid osteoma. This upgraded system features significant enhancements, including the ability to use four internally cooled probes simultaneously, allowing for the ablation of two vertebral bodies at once or the creation of larger ablation zones in non-spinal applications.
The oncology ablation market covered in this report is segmented –
1) By Technology: Radiofrequency Ablation, Microwave Ablation, Cryoablation, Irreversible Electroporation Ablation
2) By Treatment: Surgical Ablation, Laparoscopic Ablation, Percutaneous Ablation
3) By Application: Kidney Cancer, Liver Cancer, Breast Cancer, Lung Cancer, Prostate Cancer
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Regional Insights –
North America was the largest region in the oncology ablation market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the oncology ablation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the oncology ablation market are Medtronic plc, Siemens Healthineers AG, Becton Dickinson and Company, Koninklijke Philips N.V., Stryker Corporation, GE HealthCare Technologies Inc., Boston Scientific Corporation, Edwards Lifesciences Corporation, Varian Medical Systems Inc, PENTAX Medical, Elekta AB, Merit Medical Systems Inc, AtriCure Inc, AngioDynamics Inc., EDAP TMS S.A., Monteris Medical Inc., Misonix Inc., MedWaves Inc., BSD Medical Corporation, Cardiva Medical Inc.
Table of Contents
1. Executive Summary
2. Oncology Ablation Market Report Structure
3. Oncology Ablation Market Trends And Strategies
4. Oncology Ablation Market – Macro Economic Scenario
5. Oncology Ablation Market Size And Growth
…..
27. Oncology Ablation Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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