Bone Tumor Ablation Devices Market will grow at highest pace owing to increasing cases of bone cancer globally
Bone Tumor Ablation Devices Market will grow at highest pace owing to increasing cases of bone cancer globally
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Bone tumor ablation devices are medical equipment used to destroy bone tumors without surgically removing them in a minimally invasive manner. Bone tumor ablation devices utilize various energy sources such as radiofrequency, microwave, and cryoablation to destroy tumor cells. Radiofrequency ablation systems work by generating heat energy and circulating it through the probe's electrodes to destroy the tumor tissue. Microwave ablation works by generating electromagnetic waves to heat and destroy the tumor tissue. Cryoablation uses extremely low temperatures delivered through a cryoprobe inserted into the tumor tissue to freeze and ablate the tumor. Bone tumor ablation devices provide an effective treatment option where surgical resection is not feasible.
The Global Bone Tumor Ablation Devices Market is estimated to be valued at US$ 125 Million in 2024 and is expected to exhibit a CAGR of 10% over the forecast period 2024-2030.
Key Takeaways
Key players operating in the bone tumor ablation devices are Boston Scientific Corporation, Medtronic plc, AngioDynamics, Inc, Merit Medical Systems, Inc.
Growing prevalence of primary bone cancers and metastases coupled with increasing geriatric population are major factors driving the Bone Tumor Ablation Devices Market Demand. According to statistics, bone cancer accounts for less than 1% of all newly diagnosed cancers annually. However, incidence rates are gradually increasing worldwide.
Technological advancements in tumor ablation systems have expanded treatment options for patients with bone tumors. New devices are integrated with modern imaging modalities like CT, MRI, and ultrasound to provide real-time visualization and guidance during ablation procedures improving safety and efficacy. Advancements in probe design allow precise tumor targeting and control over ablation zone size.
Market Trends
Increasing adoption of minimally invasive procedures - Bone Tumor Ablation Devices Market Size and Trends ablation using radiofrequency, microwave, or cryoablation devices offers an alternative to patients who cannot undergo surgery or as an adjunct to surgery. As these procedures are minimally invasive and associated with less complications, hospitals and healthcare providers are increasingly adopting them.
Favorable reimbursement for tumor ablation procedures - Reimbursement agencies in developed markets recognize the clinical efficacy and cost-effectiveness of bone tumor ablation. Favorable coverage policies are encouraging both patients and providers to opt for ablation procedures over radical resection for the management of bone tumors.
Market Opportunities
Product launches and expansion in emerging markets - Leading players are investing in research and development to launch new technologically advanced bone tumor ablation devices with improved imaging integration and safety features. Emerging markets in Asia Pacific and Latin America lack awareness about ablation therapies and provide scope for manufacturers and healthcare facilities to educate patients and physicians about these treatments.
Adjunct to therapy - Bone tumor ablation devices have potential to be used as an adjunct to chemotherapy and radiation therapy protocols to improve treatment outcomes. Studies evaluating synergies when ablation is combined with other therapeutic options will encourage wider adoption.
Impact of COVID-19 on Bone Tumor Ablation Devices market growth
The COVID-19 pandemic has adversely impacted the bone tumor ablation devices market. During the early phase of the pandemic, most elective surgical procedures were postponed to avoid transmission of the virus in hospitals and free up resources for COVID-19 patients. This led to a steep decline in the number of bone tumor ablation procedures performed using devices such as cryoablation systems, radiofrequency ablation systems, microwave ablation systems, etc. As a result, sales of bone tumor ablation devices reduced significantly.
However, as the pandemic is now under control in many parts of the world due to ongoing vaccination drives, the number of bone tumor ablation procedures has started increasing gradually. Various medical device companies are also focusing on developing advanced bone tumor ablation technologies with improved safety and efficacy. This is expected to boost the market in the coming years. Furthermore, many regions and hospitals have implemented strict safety protocols to minimize infection risk during surgeries. This will help restore confidence among both patients and physicians regarding undergoing elective procedures. The market is projected to rebound fully by 2023 as the pandemic situation continues improving.
Geographical regions with highest market value
North America currently dominates the bone tumor ablation devices market in terms of value. This is attributed to factors such as high adoption rate of advanced medical technologies, growing geriatric population susceptible to bone tumors, and favorable reimbursement policies in the region. Within North America, the U.S. represents the largest market owing to its highly developed healthcare infrastructure and significant research activities in the field.
Fastest Market Growth
Asia Pacific is poised to exhibit the fastest growth in the bone tumor ablation devices market over the next decade. Swift development of healthcare infrastructure, growing patient pool of bone cancer/tumor cases, and rising medical tourism are major factors fueling the Asia Pacific market. Significant initiatives by governments to strengthen regional core manufacturing capabilities and promote indigenous production of medical devices have created a favorable business environment.
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About Author:
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc. (https://www.linkedin.com/in/money-singh-590844163)
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