According to the report Global Tumor Ablation market, published by Market Data Forecast, the Market was worth USD 375 million in 2016 and estimated to be growing at a CAGR of 12.7%, to reach USD 681.79 million by 2021
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Tumors are the group of abnormal cells that accumulate together and form lumps. Tumor ablation is a minimally invasive procedure used to destroy cancer cells in the chest, lung and liver.Rising Prevalence of cancer is proportional to the growth of tumor ablation market.
According to the recent statistics published by the WHO, cancer accounts for 13% of the deaths worldwide. Cancer incidence is expected to increase by 70% over the next couple of decades.
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Factors such as growing geriatric population across the globe, increasing number of people affected with cancer, technological advancements in the field of ablation are driving the global tumor ablation market. Increasing demand for minimally invasive cancer treatment procedures and growing awareness regarding the benefits offered by ablation procedures over the conventional surgical procedures are also fuelling the growth of the market.
However therapeutic challenges related to ablation procedures and stringent regulatory guidelines leading to increase in gestation period of product launches are hindering the growth of the market.
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The Global Market for tumor ablation is broadly categorized based on technology, treatment, application and Region.
- Based on technology
- Radiofrequency Ablation Devices
- Microwave Ablation Devices
- Cryoablation Devices and other Ablation Devices
- Based on Treatment
- Surgical Ablation
- Laparoscopic Ablation
- Percutaneous Ablation
- Based on Application
- Liver Cancer
- Breast Cancer
- Lung Cancer
- Prostrate Metastasis and other cancer
- Based on Region
- North America
- Asia Pacific
- Latin America
- Middle-East & Africa.
Some of the key companies dominating the market include Medtronic Plc., Boston Scientific Corporation, Angiodynamics, Mermaid Medical, HealthTronics, Galil Medical Inc., EDAP TMS S.A., SonaCare Medical, Misonix, Inc. and Neuwave Medical, Inc.
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