Seattle, WA -- (SBWIRE) -- 11/13/2019 -- The global tumour ablation market is estimated to grow at a CAGR of 12.5% to reach USD 580.1 Million by 2027. Technological advancements in the field of tumour ablation coupled with increased procedural safety profile, rising market demand of minimal invasive tumour ablation techniques, increasing prevalence of cancer across the globe, as well as growing number of public-private initiatives & funding to support ongoing research activities related to tumour ablation are propelling the growth of the market. However, factors such as unfavourable regulatory policies and cost containment measures adopted by various governments are restraining the optimal market growth.

This market has evolved significantly in the last two decades. Most of the leading manufacturers and new market entrants are investing heavily in R&D activities to develop novel tumour ablation products and to expand the clinical application profile of their existing tumour ablation products. In line with this strategy, from 2013 to 2016, the global market witnessed several initiatives by key players to strengthen their R&D capabilities.

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In the published report, the global tumour ablation market is segmented on the basis of technology, mode of treatment, applications, and regions. On the basis of technology, the radio-frequency ablation accounted for the largest share in the global market, in 2016, which can primarily be attributed to its ease of treatment, its proven clinical efficacy and safety profile, and ongoing developments & commercialisation of technologically advanced radio-frequency tumour ablation systems.

Geographically, the global market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World. In 2016, Geographically, North America is estimated to command the largest share of the global market in 2016, followed by Europe.

As of 2016, Medtronic plc (Ireland) held the leadership position in the global tumor ablation market. Over the past three years, the company has adopted new product launches, product enhancements, and geographic expansion as its key business strategies to ensure its dominance in this market.

Angiodynamics, Inc. (U.S.), Boston Scientific Corporation (U.S.), Galil Medical, Inc. (U.S.), EDAP TMS S.A. (France), Healthtronics, Inc. (U.S.), Medtronic, Plc (U.S.), Mermaid Medical, Inc. (Denmark), Mesonix, Inc. (U.S.), Neuwave Medical, Inc. (U.S.) and Sonacare Medical, LLC (U.S.) are some of the other key players operating in the market.

Growth in the tumour ablation market is mainly driven by the significant geriatric population and rising cancer patient population across the globe, and ongoing technological advancements in the field of tumour ablation products.

By technology, the microwave ablation segment is expected to grow at the highest rate during the forecast period in the tumour ablation market. The microwave tumour ablation technology is the fastest-growing ablation technology segment that is currently being used to treat various cancers (such as liver, lung, and kidney).

The stable market growth witnessed by the surgical tumour ablation segment is mainly due to the large number of minimally invasive surgical procedures performed in mature markets (such as the U.S., the U.K., Italy, Germany, and Japan) to treat various cancers.

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Recent developments:

- In October 2015, AngioDynamics, Inc. launched its NanoKnife Ablation system in South Korea after receiving regulatory approval by Ministry of Food and Drug Safety (South Korea). This helped AngioDynamics expand its product portfolio for tumour ablation market
- In July 2016, Boston Scientific Corporation acquired the Cosman Medical Inc. (U.S.) at an undisclosed value. Cosman Medical is a leading manufacturer of radio-frequency ablation devices. This acquisition helped Boston Scientific to strengthen its technological capabilities and to expand its product sales and distribution network in the global tumour ablation market
- In May 2016, Galil Medical Inc. was acquired by the BTG plc group (a part of BTG International Ltd, U.K.); for a value of USD 110.0 million. BTG International is prominent manufacturer of cryoablation products and possesses strong product distribution network across Europe. The acquisition helped Galil Medical to strengthen its technological capabilities and to expand its distribution network in global tumor ablation market
- In April 2016, Medtronic plc launched Barrx 360 Express radio-frequency ablation (RFA) balloon catheter; for the treatment of Barrett's esophagus. It helped the company to provide technologically advanced product to its customers in tumour ablation market

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