Yahoo Finance Tumor Ablation Therapy Devices Global Market Report 2022
Major players in the tumor ablation therapy devices market are Galil Medical Inc, Misonix Inc, HealthTronics, Angiodynamics, Boston Scientific Corporation, Medtronic Plc, EDAP TMS S. A, Neuwave Medical Inc, BVM Medical Limited, and Erbe Elektromedizin GmbH.
New York, May 24, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Tumor Ablation Therapy Devices Global Market Report 2022" - https://www.reportlinker.com/p06280915/?utm_source=GNW
The global tumor ablation therapy devices market is expected to grow from $0.49 billion in 2021 to $0.56 billion in 2022 at a compound annual growth rate (CAGR) of 14.1%. The market is expected to grow to $0.97 billion in 2026 at a compound annual growth rate (CAGR) of 15%.
The tumor ablation therapy devices market consists of sales of tumor ablation devices and related services that are used in hospitals and oncology clinics. Tumor ablation is the technique used to extract the tumors using a needle, to insert them in the tumor organ using imaging techniques.
The main technologies in the tumor ablation therapy devices are radiofrequency ablation, microwave ablation, cryoablation, irreversible electroporation ablation, and others.Irreversible electroporation (IRE) in tumor ablation therapy is a new tissue ablation method in which micro to millisecond electrical pulses are supplied to undesirable tissue to produce cell necrosis by irreversible cell membrane permeabilization.
The treatments included are surgical, laparoscopic, and percutaneous that are used in various applications such as kidney cancer, liver cancer, breast cancer, lung cancer, prostate cancer, and others. The various end-users of tumor ablation therapy devices are hospitals, oncology clinics, and others.
North America was the largest region in the tumor ablation therapy devices market in 2021.Asia Pacific was the second largest region in the tumor ablation therapy devices market.
The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The increasing prevalence of cancer is a key factor driving the growth of the tumor ablation therapy devices market.Cancer is considered to be the second major cause of death, with around 1 in 6 deaths due to cancer worldwide.
Tumor ablation is a minimally invasive procedure widely used in the treatment of lung, liver, kidney, and bone tumors. For instance, in 2020, according to the American Institute of cancer research, there were an estimated 18.1 million cancer cases around the world. It was estimated that 9.3 million cases were in men and 8.8 million in women. Among them, lung and breast cancers are the most common cancers in the world, and about 12.5% and 12.2% of the new cases are diagnosed in 2020. The procedure is an effective method for patients who have failed chemotherapy or radiotherapy, thereby supporting the growth of the tumor ablation therapy devices market.
Product recalls of tumor ablation devices due to technical issues are expected to hinder the growth of the tumor ablation therapy devices market.The companies are retrieving their products from the market due to safety concerns.
For instance, Covidien Emprint Long Percutaneous Antenna with Thermosphere Technology, a tumor ablation device from Medtronic had recalled its devices due to the disengagement of ceramic trocar tip of the Emprint ablation from the needle shaft post-ablation.Similarly, in June 2018, Accurian RF Ablation by Medtronic Sofamor Danek USA Inc was recalled due to the difficulty in insertion.
The product recalls caused a financial burden on the companies hindering the tumor ablation therapy devices market.
Major companies operating in the tumor ablation therapy devices are focusing on technology advancements for shorter procedures, increased safety, lower exposure to radiation, faster learning curves, and improved outcomes J&J medicals have released a microwave ablation system called NEUWAVE, which is the first minimally invasive device to put electrodes into cancer cells and thereby increase the temperature around them for burning the cancer cells. In June 2020, Boston Scientific has launched a technology called DirectSense technology, a tool used for monitoring the effect of radiofrequency (RF) now for cardiac procedures, which may be further employed for tumors.
In June 2019, Varian Medical Systems acquired Endocare for an undisclosed amount.This acquisition will help Varian Medical Systems strengthen its portfolio by adding cryoablation and microwave ablation therapies and embolic beads to its cancer care solutions portfolio.
Endocare is a leading provider of hardware and software solutions supporting cryoablation and microwave ablation.
The countries covered in the tumor ablation therapy devices market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.
Read the full report: https://www.reportlinker.com/p06280915/?utm_source=GNW
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