Tumor Ablation Market Expected to Reach $5 Billion by 2032—Allied Market Research

According to a new report published by Allied Market Research, titled, “Tumor Ablation Market," The tumor ablation market size was valued at $1.4 billion in 2022, and is estimated to reach $5 billion by 2032, growing at a CAGR of 13.5% from 2022 to 2032. Radiofrequency and cryo-ablation are the type of minimally invasive technologies with many clinical applications involved for treatment of different types of cancers such as kidney cancer, colorectal cancer, liver cancer, and breast cancer by introducing thermal energy, which allows cellular destruction of target cells. Tumor ablation system consists of needle like device and a generator that delivers heat directly to the target cell, helps to increase accuracy rate of treatment as well as covers a large treatment area. There are different types of ablation techniques available on the basis of treatment, which include surgical, laparoscopic and percutaneous ablation.  

The major key factor that contributes toward the tumor ablation market growth includes increase in the number of cancer cases across the globe. For instance, according to the International Agency for Research on Cancer (IARC) by GLOBOCAN, in 2020, about 19.3 million new cancer cases were reported. As per the same source it is estimated that 60% of people have been diagnosed with cancer across the globe.

According to the National Center for Health Statistics, in 2023, it was estimated that approximately 153,020 individuals will be diagnosed with colorectal cancer. In addition, rise in demand for ablation devices for cancer treatment and key players involved in manufacturing of ablation-based technology boost the market growth. For instance, in October 2021, Bioventus LLC announced the completion of acquisition of Misonix, Inc. Misonix, Inc. is engaged in manufacturing, developing, and distributing minimally invasive therapeutic ultrasonic technologies and regenerative medicine. The aim of this acquisition was to enhance clinical outcomes by providing tumor ablation solutions that can help improve accuracy in surgery. Thus, the increase in the number of straegies adopted by key market players is anticipated to boost the tumor ablation market size

Moreover, initiatives taken by governments to effectively manage cancer cases and increase in awareness regarding cancer are the key factors that boost the growth of the market. Furthermore, increase in per capital healthcare expenditure and advancements in technologies propel the growth of the market. However, side-effects associated with ablation treatment and stringent government regulations are the major restraints for the market growth. In addition, the emergence of technologically advanced treatment and cost-effectiveness are major factors that are expected to propel the market growth in the future. 

The global tumor ablation market share is segmented by technology, treatment, application, and region. By technology, the market is classified into radiofrequency ablation, microwave ablation, cryo-ablation, irreversible electroporation ablation, and others. By treatment, the market is classified into surgical ablation, laparoscopic ablation, and percutaneous ablation. By application, the market is classified into kidney cancer, liver cancer, breast cancer, lung cancer, prostate cancer, and bone cancer By region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA. 

On the basis of technology, the tumor ablation industry is segmented into radiofrequency ablation, microwave ablation, cryo-ablation, irreversible electroporation ablation, and others. The others segment was the major revenue contributor in 2022, owing to increased specificity while using laser ablation surgery compared to other traditional methods. This segment includes laser ablation technology and high intensity focused ultrasound technology. The microwave ablation segment is expected to witness lucrative growth during the forecast period, owing to advancements in imaging technology and accuracy to spot specific target cells.

On the basis of treatment, the tumor ablation market analysis is classified into surgical ablation, laparoscopic ablation, and percutaneous ablation. The surgical ablation segment was the major revenue contributor in 2022, owing to increase in prevalence of cancer, advancements in technology, and minimum risk associated with treatment. However, the percutaneous ablation technology segment is expected to propel the market growth during the forecast period owing to emergence of minimally invasive technologies for cancer treatment and its accuracy in disease treatment and specificity.

On the basis of application, the tumor ablation industry is segmented into kidney cancer, liver cancer, breast cancer, lung cancer, prostate cancer, and bone cancer. The liver cancer segment was the highest revenue contributor in 2022, owing to increase in liver cancer cases and lifestyle changes. However, the kidney cancer segment is expected to exhibit fastest growth during the forecast period, owing to increase in the number of kidney cancer cases, reduced physical activities, and excessive smoking and drinking.  

North America accounted for a majority of the global tumor ablation market share in 2022 and is anticipated to remain dominant during the forecast period. This is attributed to rise in prevalence of cancer, strong presence of key players, increase in awareness regarding cancer, and increase in geriatric population in the region. However, Asia-Pacific is anticipated to witness fastest growth during the tumor ablation market forecast, owing to increase in prevalence of different types of cancers, rise in geriatric population, increase in demand for minimally invasive treatment, and rise in number of hospitals & clinics. 

Key findings of the study 

• By technology, the others segment dominated the tumor ablation market trends in 2022. 

• By treatment, the surgical ablation segment was the highest contributor to the market in 2022. 

• By application, the liver cancer segment dominated the market in 2022, and is expected to continue this trend during the forecast period. 

• By region, North America garnered the largest revenue share in 2022. However, Asia-Pacific is expected to grow at the fastest rate during the forecast period.