Tumor Ablation Market Report 2024 (Global Edition)

CURRENT SCENARIO OF THE TUMOR ABLATION MARKET

Driving Factors of Tumor Ablation Market

• Tumor Ablation Market Growth is Driven by an Increase in Cancer Prevalence 

Cancer is a globally prevalent disease and a leading cause of death worldwide.
For example, the Cancer Australia Statistics for 2022 reported 162,163 new cancer cases diagnosed in Australia, emphasizing the substantial burden it poses.
(Source:https://www.canceraustralia.gov.au/impacted-cancer/what-cancer/cancer-australia-statistics)

Similarly, McMillan Cancer Support's October 2022 update revealed that 3 million people were living with cancer in the UK, with projections indicating a steady increase in this number over the coming years. 
(Source:https://www.macmillan.org.uk/about-us/what-we-do/research/cancer-statistics-fact-sheet)

The market for Tumor ablation is expected to increase as a result of the increasing need for operations and efficient ablation techniques brought about by the rising incidence of cancer. The incidence of cancer has increased due to a sharp rise in the world's senior population as well as harmful modern lifestyles in all age categories. The market for Tumor ablation is becoming more lucrative due to rising costs associated with cancer treatment. 

According to data publicly available by WHO, the disease accounts for nearly one in six deaths. WHO further mentions that cancer-causing infections such as hepatitis made up nearly one-third of cancer cases in the global South. 

In the U.S., National Cancer Institute forecasted that national estimates of cancer care costs are expected to rise to as high as US$ 173 Bn in 2020. 
(Source:https://www.ncbi.nlm.nih.gov/pmc/articles/PMC3107566/#:~:text=Contribution,increase%20of%2039%25%20from%202010.)

The need for ablation technologies to treat kidney, soft tissue, liver, and bone malignancies is predicted to rise in tandem with the rising incidence of lung, prostate, colon, and breast cancer. Focus on cancer treatment is increasing market income for Tumor ablation. 

For instance, in September 2023, the Government of Canada reported that about 28,600 Canadian women were diagnosed with breast cancer in 2022,i.e., 25% of all new cancer cases in women in 2022. 
(Source:https://www.canada.ca/en/public-health/services/chronic-diseases/cancer/breast-cancer.html)

As a result, the rising global prevalence of cancer is expected to provide considerable growth prospects for market players over the forecast period.

• Increasing patients and surgeons’ inclination towards minimally invasive procedures will drive the growth of the market

Smaller incisions or needle insertions are the hallmark of minimally invasive procedures, which have a number of benefits over open surgery. Minimal tissue injury, less blood loss, and a decreased chance of complications are the outcomes of these operations. Minimally invasive surgery patients usually recover more quickly from their procedures and spend less time in the hospital afterward, which improves their quality of life overall and enables them to return to normal activities sooner.

•    In April 2023, Angio Dynamics revealed an extended collaboration with Cardiva, a medical device company based in Spain. This extension builds upon the ongoing partnership between Angio Dynamics and Cardiva, which has been effectively distributing Angio Dynamics' vascular access portfolio in Spain and Portugal since 2012. The enhanced partnership will now encompass Angio Dynamics' oncology portfolio, incorporating the Italian market into the distribution agreement.
(Source:https://www.angiodynamics.com/international/angiodynamics-and-cardiva-expand-partnership-to-bring-life-saving-products-to-more-patients-in-europe/)

Surgeons' ability to see and precisely target tumours because to modern imaging technologies is generally credited with the effectiveness of minimally invasive procedures. Thus, the market for Tumor ablation is driven by consumers' growing inclination for less intrusive procedures. This increased precision guarantees the preservation of the surrounding, healthy tissues. Furthermore, the equipment used in minimally invasive operations are made to be more agile and manoeuvrable, giving surgeons better control and accuracy when performing complex surgery. Compared to open operations, the use of smaller incisions further lowers the incidence of post-operative infections.

The benefits of minimally invasive procedures and therapies, like quicker recovery times, more patient comfort, and shorter process times, have made them extremely popular with physicians and patients alike. 

Surgeons can monitor and precisely target tumours with minimally invasive methods because to the widespread use of advanced imaging tools. This maintains the integrity of the surrounding tissues and improves precision. Surgical instruments are made to provide surgeons with more mobility and agility so they can perform complex surgeries with more control and accuracy. Less incisions are made during the operations than during open surgeries, which reduces the possibility of post-operative infections.

Key factors affecting the growth of the Market

• Stringent regulatory approval and rigid policies impede market expansion

Medical device and procedure regulatory approval processes are usually detailed and time-consuming. Assessments emphasizing quality standards, safety, and efficacy can seriously obstruct the entry of novel Tumor ablation technologies into the market. The protracted approval processes are impeding the timely availability and adoption of novel Tumor ablation technologies, which in turn is slowing down the growth of the market.

Obtaining certifications and permits from regulatory bodies requires significant financial outlays as well as specialized knowledge. Businesses must invest significant financial resources in preclinical research, clinical trials, and regulatory filings. Meeting these requirements could be expensive for small and medium-sized businesses, which would restrict their ability to release cutting-edge Tumor ablation technology. The substantial cost and resource demands serve as entry barriers, constraining competition and innovation within the Tumor ablation market.

According to the FDA, ablation devices are classified as medical devices in Class II and III. These classes necessitate more supervision and control. Class II devices require premarket notification, and class III devices require regulatory approval (PMA). Labelling requirements, manufacturing plant-established registration, medical device listing, quality systems control, and medical device reporting are the basic permissions necessary (MDR).
(Source:https://www.fda.gov/about-fda/cdrh-transparency/overview-medical-device-classification-and-reclassification)

The FDA's Centre for Devices and Radiological Health (CDRH) oversees the framework and standards for imported devices sold in the United States, including production, labelling, packaging, and storage. Companies must comply with many regulatory standards and keep appropriate documentation to gain approval and clearance. Medical gadgets cannot be sold unless specific requirements are met. If there are any flaws or complaints, the product is taken off the market.
(Source:https://www.fda.gov/medical-devices/device-advice-comprehensive-regulatory-assistance/overview-device-regulation)

Opportunities

• Technology improvements and advancement in the market to further expand healthcare systems too 

One factor propelling the market's growth is the incorporation of digital technologies like machine learning, artificial intelligence (AI), and big data analytics into healthcare systems. By using these technologies, healthcare professionals may make better judgments by analysing large amounts of data, such as patient histories, real-time monitoring, and predictive modelling. The use of digital innovations in patient diagnosis and treatment is not restricted to this domain. They also cover the operational facets of healthcare systems, which include administrative simplification, cost savings on overhead, and increased care delivery effectiveness. Digital technology makes it easier to coordinate patient care and modify treatments as needed by enabling real-time information exchange between departments or even between separate healthcare facilities. This enhanced operational efficiency not only improves patient outcomes but also makes the adoption of Tumor ablation therapies more financially viable for healthcare systems.

In the future, robotics in interventional oncology may also aid to lower operator radiation exposure and improve operation precision. Clinical robotics systems that provide planning, targeting, and needle positioning for both off-plane and multiplanar percutaneous interventions—all while utilizing three-dimensional target views—are readily accessible and can assist practitioners.

Over the course of the projected period, major market players' increasing product launches and developments are anticipated to boost market expansion.

For instance, in April 2023, Compal Electronics, a Taiwanese electronics company, launched a new radiofrequency ablation (RFA) system for percutaneous, intraoperative coagulation and ablation of soft tissue, including partial or complete ablation of non-resectable liver lesions.
(Source:https://www.delveinsight.com/blog/medtech-news-for-bd-icentia-bone-biologics-compal-electronics)

In February 2019, Medtronic launched its new radiofrequency ablation system, Accurian, which is enabled with software for temperature control to offer high standard ablation procedure.

How did COVID–19 Impact the Tumor Ablation market?

The market for Tumor ablation has been greatly influenced by the COVID-19 epidemic. Tumor ablation treatments have been delayed as a result of the circumstance, which has caused healthcare resources and focus to be diverted into handling the pandemic. Tumor ablation technology adoption has been impacted by restrictions on non-essential medical services and an emphasis on urgent and critical healthcare situations.

Furthermore, decisions about investments and healthcare spending have been impacted by disruptions in the global supply chain and economic uncertainty, which has a significant effect on the Tumor ablation market's growth. Nonetheless, the industry has recovered as healthcare systems have begun to recover, propelled by the growing incidence of cancer and the continuous requirement for less invasive therapy alternatives such as Tumor ablation.

Because of lockdowns, travel restrictions, and company closures brought on by the COVID-19, economies and industries have been impacted in a number of nations. Numerous factories and plants have shut down, which has had an adverse effect on global supply networks, manufacturing, delivery timetables, and product sales. The COVID-19 is already having an effect on the world, and by 2020, it will have a big impact on the Tumor ablation market. A small number of businesses have already made announcements on potential delivery delays and declines in their products' future sales. Furthermore, the worldwide travel restrictions enforced by nations in Europe, Asia-Pacific, and North America are impacting the prospects for commercial alliances and partnerships. 

Post-pandemic: For an extended period, even following the pandemic's slowing, cancer care worldwide has led to reductions and delays in the detection of new tumors and the provision of therapy. If these issues are not resolved, there will be a long-term rise in cancer morbidity and mortality.

Later, the coronavirus pandemic has thrown a spotlight on messenger RNA (mRNA)—the molecule that carries a cell’s instructions for making proteins. As stunningly successful as the mRNA COVID-19 vaccines have been, researchers have long hoped to use mRNA vaccines for a very different purpose—to treat cancer. mRNA-based cancer treatment vaccines have been tested in small trials for nearly a decade, with some promising early results.

In fact, scientists at both Pfizer-BioNTech and Moderna drew on their experience developing mRNA cancer vaccines to create their coronavirus vaccines. Now, some investigators believe the success of the mRNA COVID-19 vaccines could help accelerate clinical research on mRNA vaccines to treat cancer.
(Source:https://www.cancer.gov/news-events/cancer-currents-blog/2022/mrna-vaccines-to-treat-cancer)

Also, the ablative therapy industry post-pandemic has witnessed a surge in market statistics as awareness of healthcare products and services has increased. Ablative therapies are employed primarily for smaller tumours, where precision is required. Advancements in Tumor ablation devices and techniques such as the utilization of image-guided equipment, internally cooled radiofrequency probes, and cryoablation are expected to offer lucrative opportunities for market expansion
 

Our study will explain complete manufacturing process along with major raw materials required to manufacture end-product. This report helps to make effective decisions determining product position and will assist you to understand opportunities and threats around the globe.

The Global Tumor Ablation Market is witnessing significant growth in the near future.

In 2023, the Radiofrequency Ablation segment accounted for noticeable share of global Tumor Ablation Market and is projected to experience significant growth in the near future.

The Kidney Cancer segment is expected to expand at the significant CAGR retaining position throughout the forecast period.

Some of the key companies Medtronic PLC , BTG International Ltd and others are focusing on its strategy building model to strengthen its product portfolio and expand its business in the global market.

Frequently Asked Questions (FAQs)