The tumor ablation market is expected to grow significantly in the coming years due to the increasing incidence of cancer worldwide. Tumor ablation techniques such as radiofrequency ablation, microwave ablation, and cryoablation are becoming popular alternatives to surgical removal of tumors due to their minimally invasive nature and shorter recovery time. Additionally, advancements in technology have led to the development of more efficient and effective tumor ablation devices. However, high costs associated with the procedures and lack of reimbursement in some regions may hinder the growth of the market. The COVID-19 pandemic has also impacted the market due to the postponement of non-essential medical procedures and the diversion of resources towards the treatment of COVID-19 patients.
The global Tumor Ablation Market size was valued at USD 1,018.6 million in 2021 and is anticipated to witness a compound annual growth rate (CAGR) of 11.5% from 2022 to 2028.
Market Leaders in the Tumor Ablation Industry:
1. Medtronic is a medical technology company that was founded in 1949 and is headquartered in Dublin, Ireland. It operates in more than 160 countries and has a wide range of products that include devices for cardiac rhythm management, neurology, diabetes, and spinal and orthopedic surgery. In October 2021, Medtronic launched the Emprint Ablation System, a minimally invasive tumor ablation technology that uses microwave energy to destroy tumors.
2. Johnson & Johnson Services Inc. is a multinational corporation that was founded in 1886 and is headquartered in New Brunswick, New Jersey. It operates in more than 60 countries and is primarily engaged in the manufacture and sale of pharmaceuticals, medical devices, and consumer health products. In August, 2020 Johnson & Johnson’s Collaboration in India with Biological E to Expand Manufacturing Capabilities For its COVID-19 Vaccine Candidate. In December 2021, Johnson & Johnson announced the acquisition of Teneobio, a biotechnology company that is developing a novel platform for cancer treatment. The technology is based on a new class of biologics called Human Heavy-Chain Antibodies (UniAbs), which have the potential to target cancer cells more specifically than traditional monoclonal antibodies.
3. Boston Scientific Corporation is a global medical technology company that was founded in 1979 and is headquartered in Marlborough, Massachusetts. It operates in more than 100 countries and specializes in the development of devices for interventional medical procedures such as cardiac and vascular surgery, urology, and endoscopy.
4. IceCure Medical is an Israeli medical technology company that was founded in 2006 and is headquartered in Caesarea, Israel. It operates in multiple countries and specializes in the development of minimally invasive cryoablation technology for the treatment of breast cancer and other conditions.
5. EDAP TMS is a French medical technology company that was founded in 1979 and is headquartered in Vaulx-en-Velin, France. It operates in more than 80 countries and specializes in the development of devices for the treatment of urological and other medical conditions using high-intensity focused ultrasound (HIFU). In September 2021, EDAP TMS announced the approval of its Focal One high-intensity focused ultrasound (HIFU) system for the ablation of prostate tumors in Japan.
6. Theraclion is a French medical technology company that was founded in 2004 and is headquartered in Malakoff, France. It operates in multiple countries and specializes in the development of therapeutic ultrasound devices for the treatment of breast fibroadenomas, thyroid nodules, and other conditions.
7. H.S. Hospital Service SPA is an Italian medical technology company that was founded in 1978 and is headquartered in Rome, Italy. It operates in multiple countries and specializes in the distribution of medical devices, diagnostic imaging equipment, and hospital supplies.
8. AngioDynamics is a medical technology company that was founded in 1988 and is headquartered in Latham, New York. It operates in multiple countries and specializes in the development of devices for the treatment of vascular and oncological diseases, including radiofrequency ablation, embolization, and thrombectomy.
*Definition-Tumor ablation refers to the minimally invasive destruction of cancerous cells or tumors through the application of heat, cold, or other energy sources such as radiofrequency waves, microwaves, or ultrasound.
