The global tumor ablation market is moderately competitive with various global as well as local market players. As of 2015, the global tumor ablation market was dominated by Medtronic, plc (U.S.), AngioDynamics, Inc. (U.S.), HealthTronics, Inc. (U.S.), Galil Medical, Inc. (U.S.),and Boston Scientific Corporation (U.S.) that together accounted for ~83.0% of the market. New product launches; partnerships, agreements, and collaborations; and strategic acquisitions are the major strategies adopted by most of the market players to achieve growth in the global tumor ablation market.
Complete report 72 market data Tables with 86 Figures spread through 330 Pages and in-depth TOC on "Tumor Ablation Market" http://www.rnrmarketresearch.com/tumor-ablation-market-by-procedure-volume-technology-rf-microwave-cryoablation-others-department-interventional-radiology-surgery-oncology-application-liver-cancer-lung-cancer-kidney-ca-market-report.html .
In this report, the global tumor ablation market is segmented on the basis of technology (radiofrequency ablation, microwave ablation, cryoablation, and other technologies), mode of treatment (surgical, laparoscopic, and percutaneous ablation), and application (liver cancer, lung cancer, kidney cancer, bone metastasis, and other applications). The radiofrequency ablation technology segment accounted for the largest share of the global tumor ablation market in 2015, followed by the microwave ablation technology market. Factors such as significant awareness in the medical community about the application of radiofrequency ablation in cancer treatments, presence of a large number of radiofrequency ablation centers across the globe, and low procedural costs associated with radiofrequency tumor ablation are driving the growth of the radiofrequency tumor ablation market.
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The global tumor ablation market is poised to grow at a CAGR of 11.5% during the forecast period (2015-2020), and is expected to reach a value of ~515.2million by 2020. Although mature markets (such as the U.S., Germany, France, and the U.K.) hold larger shares in the tumor ablation market, the Asia-Pacific region is expected to grow at the highest CAGR in the forecast period. Growth in the tumor ablation market is driven by factors such as growing geriatric population across the world, increasing population base for cancer patients, technological advancements in ablation devices, increasing number of hospitals and surgical and ablation centers, and growing awareness regarding the benefits offered by ablation procedures over those of conventional therapeutic and surgical procedures.
However, factors such as cost-containment measures taken by various governments and ongoing healthcare reforms in the U.S. are restraining the growth of this market. In addition, therapeutic challenges related to ablation procedures and stringent regulatory guidelines leading to significant increase in gestation period of product launches are posing significant challenges for the growth of the tumor ablation market.
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Geographically, North America (comprising the U.S. and Canada) commands the largest share of the global tumor ablation market in 2014, followed by Europe. The tumor ablation market in North America is primarily driven by factors such as early introduction and high adoption rate of tumor ablation products in the region, significant trend of replacing older technologies with advanced and innovative therapeutic techniques (such as microwave ablation and cryoablation), and increasing private/public funding to develop and commercialize novel tumor ablation market. However, financial constraints faced by market players are limiting the growth of the tumor ablation market in this region.
The Asia-Pacific region is poised to grow at the highest CAGR in the next five years, owing to factors such as large population base paired with high prevalence of various cancers (such as liver, lung, and kidney) in the region, ongoing government initiatives for development and modernization of healthcare infrastructure, increasing adoption due to continuously decreasing prices of tumor ablation products, and rising trends related to localized manufacturing due to growing focus of global giants in the APAC market.
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