(PharmaNewsWire.Com, September 08, 2017 ) According to the report Asia Pacific Tumor Ablation market, published by Market Data Forecast, the Market was worth USD 78.75 million in 2016 and estimated to be growing at a CAGR of 16.3%, to reach USD 167.55 million by 2021. 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.
Asia-Pacific tumor ablation market is driven by factors such as growing geriatric population, increasing number of people affected with cancer. Growing demand for minimally invasive cancer treatment measures and increasing awareness regarding the benefits offered by ablation procedures over the conventional surgical procedures are also some of the key factors boosting the growth of the market. However therapeutic challenges related to ablation procedures and stringent regulatory guidelines are the major restraining factors for the growth of the market.
Asia-Pacific tumor ablation market is segmented into technology, treatment and application. By technology the market is segmented as Radiofrequency Ablation Devices, Microwave Ablation Devices, Cryoablation Devices and other Ablation Devices. Radiofrequency devices segment dominated the market with a share of around 35% attributed to its crucial role in solid tumour removal in the body. Based on treatment the market is segmented as Surgical Ablation, Laparoscopic Ablation and Percutaneous Ablation. Surgical Procedures is the largest treatment segment accounting for a share of around 37% owing to increasing incidence of liver and breast cancers. On the basis of application Asia-Pacific tumor ablation market is segmented as Liver Cancer, Breast Cancer, Lung Cancer, Prostrate Metastasis and other cancer.
On the basis of geography Asia-Pacific Tumor Ablation market is segmented into China, India, Japan, South Korea and Australia. Asia Pacific is estimated to be the fastest growing region due to high population base and favourable economic developments in the region. Within Asia Pacific region, China is the largest market accounting for a share of approximately XX% due to its huge population where as India is estimated to be the fastest growing due to increasing government support and increasing healthcare spending
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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