Medtronic Plc and Boston Scientific Corporation Poised for Significant Growth in the Global Tumor Ablation Market

Aug 19, 2016, 08:30 ET from Mordor Intelligence

HYDERABAD, India, August 19, 2016 /PRNewswire/ --

Mordor Intelligence announces the publication of their research report on the tumor ablation market. The report titled, "Global Tumor Ablation Market - Growth, Trends and Forecast" discusses the current landscape and outlook of the said market.

The global tumor ablation market is estimated to reach USD 406 million in 2016 and USD 765 million by 2021, growing at a CAGR of 13.5% during the forecast period. The report is an amalgamation of the current market scenario, its prospects and forces driving the market, as well as those that are restraining the growth of the market. It highlights the market geographically in North America, Europe, Asia-Pacific, Latin America and Middle East & Africa.

According to U.K. based cancer research, there would be an estimated 23.6 million new cases of cancer across the world (each year) by 2030. This rise in cancer prevalence is a major factor driving the tumor ablation market.

The market for tumor ablation can be segmented based on technology type (radiofrequency (RF) ablation, microwave ablation, cryoablation and 'other'), by treatment mode (surgical ablation, laparoscopic ablation, percutaneous ablation), by application (liver cancer, lung cancer, kidney cancer, bone metastasis and 'other') and by geography (North America, Europe, APAC and Rest of the World).

Radiofrequency ablation holds a prominent share, due to its high specificity and tissue targeting without damaging surrounding cells. Surgical ablation procedures have the largest share, due to increasing prevalence of liver and breast cancers, which require open surgical procedures. North America had the highest market share (over 30%) in 2015, owing to factors such as an increasing cancer prevalence and advanced healthcare infrastructure.

The leading companies that dominate the tumor ablation market are AngioDynamics Inc., Galil Medical, Inc., NeuWave Medical, Inc., Medtronic PLC, INTIO Inc., SonaCare Medical, LLC, Misonix, Inc., BVM Medical Limited, COMSOL Inc. and Boston Scientific Corporation.

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