The global tumor ablation market will grow at 12.4% CAGR owing to the surge in procedural safety profile, increasing demand for minimally invasive tumor ablation methods, the rising prominence of cancer globally, an increasing number of public-private initiatives, and funding to support continuous research activities related to tumor ablation will drive the growth of the market. In addition, the rising geriatric population, technologically developed devices like multi-polar and bipolar electrodes, temperature-controlled and fluid-cooled ablation catheters, etc. will further bolster the growth in the global tumor ablation market. Furthermore, the growing potential of therapeutic options and the rising inclination of surgeons and patients to adopt minimally invasive procedures due to its benefits like fast recovery, patient comfort, and reduced turnover time will accelerate the growth in the global tumor ablation market. Nevertheless, the ongoing decrease in the prices in developing countries and supportive reimbursement policies in developed markets will provide support to developed economies will fuel the growth in the market.
The COVID-19 crisis has had an adverse impact on the global tumor ablation market owing to delay in elective surgeries. However, the market is anticipated to have a steep growth as surgeons and patients prefer advanced tumor ablation techniques to decrease the risk associated with the COVID-19 outbreak and minimize the hospital stay.

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Based on technology, radiofrequency tumor ablation dominates the global tumor ablation market in 2020 owing to various benefits like specificity and efficiency in solid tumor ablation procedures of kidneys and liver. The radiofrequency tumor ablation is used to treat multiple tumors at the same time, thereby enhancing the procedural efficiency as it uses multiple electrodes at different sites. The microwave ablation technique will have substantial growth owing to its benefits and include huge tumor ablation volume, consistency at high temperature, reduced ablation pain, and optimal heating of cystic mass. Thus, it requires minimum time for procedures, enhances the efficiency with fewer complications and decreases the stay in hospital will propel the growth of the microwave ablation technique.

North America contributes to the largest share in the tumor ablation market owing to the rising incidences of cancer of liver, lung, kidney, and bone metastasis, adoption of minimally invasive procedures for cancer treatment, mounting funds by government for cancer research, increase in purchasing power parity, availability of reimbursements. Europe also holds a significant share in the tumor ablation market owing to the rise in the old-age population and government support to control cancer will boost the growth in the region. The European Cancer Observatory is aiming to create awareness regarding cancer, pre-diagnostic techniques, and develop minimally invasive therapeutic options.

Medtronic plc partnered with Surgical Theater to develop an interface Surgical Theater’s Sync AR™ augmented reality (AR) technology with Medtronic’s Stealth Station™ S8 surgical navigation system. Thus, offering neurosurgeons to adopt AR technology that will improve visualization during complex cranial procedures.

The prominent players in the tumor ablation industry include Medtronic, PLC, Angiodynamics, Inc., Healthtronics, Inc., Galil Medical, Inc., Boston Scientific Corporation, Neuwave Medical, Inc., Edap Tms S.A., Mermaid Medical A/S, Sonacare Medical, LLC, and Misonix, Inc.

Source: VynZ Research