Tumor Ablation Market by Technology, Mode of treatment, Application - Global Forecasts to 2020
LONDON, July 29, 2015 /PRNewswire/ -- The global tumor ablation market is poised to grow at a CAGR of 11.5% during the forecast period (2015-2020), and is expected to reach a value of ~515.2 million by 2020. Although mature markets (such as the U.S., Germany, France, and the U.K.) hold larger shares in the tumor ablation market, the Asia-Pacific region is expected to grow at the highest CAGR in the forecast period. Growth in the tumor ablation market is driven by 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 tumor ablation market.
In this report, the global tumor ablation market is segmented on the basis of technology (radiofrequency ablation, microwave ablation, cryoablation, and other technologies), mode of treatment (surgical, laparoscopic, and percutaneous ablation), and application (liver cancer, lung cancer, kidney cancer, bone metastasis, and other applications). The radiofrequency ablation technology segment accounted for the largest share of the global tumor ablation market in 2014, followed by the microwave ablation technology market. Factors such as significant awareness in the medical community about the application of radiofrequency ablation in cancer treatments, presence of a large number of radiofrequency ablation centers across the globe, and low procedural costs associated with radiofrequency tumor ablation are driving the growth of the radiofrequency tumor ablation market.
Geographically, North America (comprising the U.S. and Canada) commands the largest share of the global tumor ablation market in 2014, followed by Europe. The tumor ablation market in North America is primarily driven by factors such as early introduction and high adoption rate of tumor ablation products in the region, significant trend of replacing older technologies with advanced and innovative therapeutic techniques (such as microwave ablation and cryoablation), and increasing private/public funding to develop and commercialize novel tumor ablation products. However, financial constraints faced by market players are limiting the growth of the tumor ablation market in this region. The Asia-Pacific region is poised to grow at the highest CAGR in the next five years, owing to factors such as large population base paired with high prevalence of various cancers (such as liver, lung, and kidney) in the region, ongoing government initiatives for development and modernization of healthcare infrastructure, increasing adoption due to continuously decreasing prices of tumor ablation products, and rising trends related to localized manufacturing due to growing focus of global giants in the APAC market.
The global tumor ablation market is moderately competitive with various global as well as local market players. As of 2014, the global tumor ablation market was dominated by Medtronic, plc (U.S.), AngioDynamics, Inc. (U.S.), HealthTronics, Inc. (U.S.), Galil Medical, Inc. (U.S.), and Boston Scientific Corporation (U.S.) that together accounted for ~83.0% of the market. New product launches; partnerships, agreements, and collaborations; and strategic acquisitions are the major strategies adopted by most of the market players to achieve growth in the global tumor ablation market.
Reasons to Buy the Report:
From an insight perspective, this research report has focused on various levels of analysis such as industry analysis (industry trends and Porter's five force model), market share analysis of top ten players, and company profiles, which together comprise and discuss the basic views on the competitive landscape, emerging and high-growth segments of the tumor ablation market, and high-growth regions and their respective drivers, restraints, challenges, and opportunities.
The report will enrich both established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn helped firms garner higher market shares. Firms purchasing the report could use any one or a combination of the below-mentioned five strategies (market penetration, product development/innovation, market development, market diversification, and competitive assessment) for strengthening their market shares.
The report provides insights on the following pointers:
- Market Penetration: Comprehensive information on tumor ablation products offered by the top 10 players in the global tumor ablation market. The report analyzes the tumor ablation market by technology, mode of treatment, and application across key geographic regions
- Product Development/Innovation: Detailed insights on upcoming tumor ablation technologies, research and development activities, and new product launches in the global tumor ablation market
- Market Development: Comprehensive information about lucrative emerging markets. The report analyzes the markets for various tumor ablation products across key geographic regions
- Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the global tumor ablation market
- Competitive Assessment: In-depth assessment of market shares, strategies, products, distribution networks, and manufacturing capabilities of leading players in the global tumor ablation market
Download the full report: https://www.reportbuyer.com/product/3091051/
About Reportbuyer
Reportbuyer is a leading industry intelligence solution that provides all market research reports from top publishers
http://www.reportbuyer.com
For more information:
Sarah Smith
Research Advisor at Reportbuyer.com
Email: [email protected]
Tel: +44 208 816 85 48
Website: www.reportbuyer.com
SOURCE ReportBuyer
Share this article