The global tumor ablation market is poised to reach a value of $515.2 Million by 2020, growing at a CAGR of 11.5% during the forecast period. Market growth can be attributed to 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 market.

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Emerging markets, such as China, India, Brazil, and Mexico, have become attractive destinations for companies engaged in the development, manufacturing, and distribution of tumor ablation products. Factors such as success of ablation procedures in clinical trials to treat various cancers, growing adoption of ablation procedures in liver cancer treatment, and growing market penetration of ablation product manufacturers across developing countries are offering high-growth opportunities for the players’ active in the tumor ablation market.

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Based on technology, the global tumor ablation market is classified into four major segments, namely, radiofrequency ablation, microwave ablation, cryoablation, and other technologies (including irreversible electroporation, radioiodine, HIFU, and laser ablation). On the basis of mode of treatment, the global tumor ablation market is classified into surgical ablation, laparoscopic ablation, and percutaneous ablation. The global tumor ablation market is further classified into five application segments, namely, liver cancer, lung cancer, kidney cancer, bone metastasis, and others (includes cancer of prostate, breast, colorectal, neuroendocrine, head, neck, and lumbar vertebrae).

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As of 2014, Medtronic, plc (U.S.) dominated the global tumor ablation market. Over the past three years, the company adopted new product launches, establishment of new manufacturing facilities, and strategic acquisitions as its key business strategies to ensure its dominant position in the market. The other key players in this market are AngioDynamics, Inc. (U.S.), HealthTronics, Inc. (U.S.), Galil Medical, Inc. (U.S.), Boston Scientific Corporation (U.S.), EDAP TMS S.A. (France), NeuWave Medical, Inc. (U.S.), Mermaid Medical A/S (Denmark), SonaCare Medical, LLC (U.S.), and Misonix, Inc. (U.S.).