Tumor Ablation Market Report 2024

The tumor ablation market size has grown rapidly in recent years. It will grow from $1.3 billion in 2023 to $1.45 billion in 2024 at a compound annual growth rate (CAGR) of 11.8%. During the historic period, growth in tumor ablation techniques was driven by several factors including advancements in more precise and efficient ablation methods, increased healthcare spending in emerging economies, demographic shifts towards aging populations, the growing burden of cancer, and rising global cancer prevalence.

The tumor ablation market size is expected to see rapid growth in the next few years. It will grow to $2.27 billion in 2028 at a compound annual growth rate (CAGR) of 11.9%. In the forecast period, growth in tumor ablation procedures is expected to be driven by several factors including the rising incidence of cancer, expanding use of minimally invasive procedures, broader applications across various types of cancer, enhanced cost-effectiveness in healthcare delivery, and increased awareness and education about treatment options. Key trends anticipated in this period include ongoing technological advancements in ablation techniques, continued development of advanced ablation technologies, integration of artificial intelligence for precision and efficiency, emphasis on outpatient settings to improve patient convenience, and a shift towards patient-centric approaches in healthcare delivery.

The tumor ablation market is poised for growth due to the increasing adoption of minimally invasive procedures. Minimally invasive procedures involve medical or surgical interventions that require small incisions or no incisions at all, driven by their benefits such as reduced recovery times, lower complication risks, and less post-operative pain compared to traditional surgeries. Tumor ablation techniques, including radiofrequency, microwave, or cryoablation, are employed in these procedures to destroy cancerous tissues while minimizing damage to surrounding healthy tissue, further contributing to quicker recovery times. For example, Intuitive Surgical Inc. reported a 12% increase in placements of da Vinci surgical systems, which facilitate minimally invasive approaches, in the fourth quarter of 2023 compared to 2022, underscoring the momentum behind minimally invasive procedures and, consequently, the tumor ablation market's growth.

Leading companies in the tumor ablation market are focusing on innovation to enhance treatment effectiveness and broaden the scope of treatable tumors. One area of innovation is the development of specialized products such as bone tumor ablation systems. These systems are designed specifically for minimally invasive procedures to treat bone tumors. Recently, Medtronic plc received FDA 510(k) clearance for its OsteoCool 2 bone tumor ablation system in March 2024. This upgraded system is tailored for treating painful bone metastases and benign bone tumors such as osteoid osteoma. It allows for the simultaneous use of four internally cooled probes, offering greater flexibility in treatment. The system delivers enhanced power, significantly exceeding that of comparable systems such as the Stryker OptaBlateTM bone tumor ablation system.

In October 2021, Bioventus Inc. acquired Misonix Inc., enhancing its portfolio with Misonix's ultrasonic technologies and regenerative wound products. This acquisition strengthens Bioventus' position in providing minimally invasive therapeutic solutions, including ultrasonic technologies for soft tissue lesion ablation, which are crucial in cancer treatment.

Major companies operating in the tumor ablation market are Abbott Laboratories, Medtronic plc, Siemens Healthineers AG, Stryker Corporation, Boston Scientific Corporation, Olympus Corporation, Terumo Corporation, Varian Medical Systems Inc., Merit Medical Systems Inc., Bioventus LLC, Accuray Incorporated, AtriCure Inc., AngioDynamics Inc., EDAP TMS S.A., NeuWave Medical Inc., Mirabilis Medical Inc., STARMed Co. Ltd., Profound Medical Corp., RF Medical Co. Ltd., IceCure Medical Ltd., MedWaves Inc., Chongqing Haifu Medical Technology Co. Ltd.

North America was the largest region in the tumor ablation market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the tumor ablation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the tumor ablation market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Tumor ablation is a minimally invasive medical procedure designed to eliminate cancerous tissues by applying extreme heat, cold, or chemical agents directly to the tumor, causing cell death. This approach is commonly used for treating small tumors or those located in challenging anatomical locations.

The primary types of tumor ablation include thermal ablation and chemical ablation. Thermal ablation involves using extreme heat to destroy abnormal or diseased tissue, and it is employed across various treatments such as percutaneous, laparoscopic, and surgical procedures for conditions such as kidney cancer, liver cancer, breast cancer, lung cancer, prostate cancer, among others. End users of these techniques include hospitals, oncology centers, and other healthcare facilities.

The tumor ablation market research report is one of a series of new reports that provides tumor ablation market statistics, including the tumor ablation industry's global market size, regional shares, competitors with a tumor ablation market share, detailed tumor ablation market segments, market trends and opportunities, and any further data you may need to thrive in the tumor ablation industry. This tumor ablation market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The tumor ablation market includes revenues earned by entities by providing services such as consultation, diagnosis, chemical ablation, and post-procedure care. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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