Market Highlights:Tumor ablation is a technique of removal of cancer tissue or cells of kidney, liver, bone, and soft tissue with invasive procedure. It is considered as excellent and convenient treatment option over other conventional surgical techniques. Factors that are propelling the growth of the tumor ablation market are surge in geriatric population, increase in prevalence of different types of cancer, rise in adoption of minimally invasive surgical procedures, increasing research and development in healthcare and advancement in technologies. According to the International Federation of Pharmaceutical Manufacturers & Associations, global pharmaceutical industry has spent more than USD 149.8 billion on pharmaceutical Research and development activities.
The cost containment policies by various governments, stringent regulatory environment for product approval, and scarcity of experts are likely to hinder market growth during the forecast period.
Regional Analysis:The American market is expected to dominate the global tumor ablation market during the forecast period due to the increase in number of cancer cases along with growing geriatric population, adoption of advance technology in healthcare, and favorable reimbursement and regulatory authorities. The European market is expected to be the second-largest due to increased pool of cancer patients and rising healthcare expenditure. Moreover, the market in Asia-Pacific is anticipated to be the fastest-growing during the forecast period owing to the increasing geriatric population in countries such as India and China, government initiatives and investment for the development of healthcare sector. The market in the Middle East & Africa is likely to account for the smallest share of the global tumor ablation market.
Key Players:Some of the key players in the global tumor ablation market are SonaCare Medical, Medtronic Plc., EDAP TMS, AngioDynamics Inc., Healthtronics Inc., Neuwave Medical, Inc., Boston Scientific Corporation, Biotronik, Galil Medical, Inc, Misonix Inc., and Covidien PL
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