This market research report from Technavio segments the global tumor ablation market by ablation technology (radiofrequency, ultrasound, cryotherapy, and microwave), by cancer types (liver, breast, prostate, gynecological, lung, and ENT), and by geography (APAC, EMEA, and the Americas). Key vendors analyzed in this market study are AngioDynamics, Boston Scientific, Ethicon, and Medtronic.
Technavio’s market research analysts estimate the global tumor ablation market to grow at a CAGR of around 15% between 2015 and 2019. Factors such as recent advances in semiconductor technology and modifications to the design of medical laser systems such as MRI or ultrasound are contributing to this market’s healthy growth.
The new market research report from Technavio provides a breakdown and analysis of the tumor ablation segments by technology.
“Vendors are renovating tumor ablation systems through advanced researches and technologies and at reduced costs. For example, Gynesonics has raised huge funds to develop high intensity focused ultrasound for cervical and ovarian cancer treatment. Shift towards minimally invasive, image-guided therapy for tumor ablation procedures has led to the development of advanced electrosurgical units. These units adjust their internal algorithms, ensuring no voltage fluctuation during cancer surgeries. Moreover, application of plasma energy devices, such as PlasmaJet, can be used in laparoscopic surgical procedures for vaporization of soft tissues,” says Imran Mushtaq, Lead Analyst, Healthcare, Technavio Research.
The Americas leads the global market for tumor ablation, covering 51% of the market. The US and Canada are the major revenue contributors to this region. Growing public awareness, increased product launches, and numerous FDA approvals for new instruments are driving the market’s growth in the Americas.
Technavio’s analysts predict the radiofrequency segment to account for approximately 13% of the total market share by 2019. Radiofrequency is very specific for treating target tissues without causing significant damage to surrounding healthy cells. The high efficacy rate of this procedure is expected to bolster its growth during the forecast period.
The leading vendors in the global tumor ablation market are AngioDynamics, Boston Scientific, Ethicon, and Medtronic. This market offers ample growth opportunities to vendors during the forecast period and is characterized by the presence of numerous local and multinational vendors. While the international players are continually increasing their footprint in the market through product innovations, local vendors adopt collaborations to stay competitive in the market.
A more detailed analysis is available in the Technavio report, Global Tumor Ablation Market 2015-2019.
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