Global Tumor Ablation Market Overview
Product Overview and Scope of Global Tumor Ablation Market
Tumor ablation is an image-guided, non-surgical treatment in which interventional radiologists guide a needle-tipped catheter directly into a tumor, then shrink or destroy the tumor with extreme heat or cold. There are different types of treatment used for removal of tumor in cancerous patients. Among this treatment, the radiofrequency ablation transmits high-frequency electrical currents through the needle, which create enough heat to destroy the tumor cells. The other treatment includes cryoablation which circulate argon and helium gas through the needle, lowering the temperature in the tumor to -40°C for several minutes. In microwave ablation, the electromagnetic microwaves are transmitted through needle these agitate water molecules in the tumor cells, creating enough heat to destroy the tumor cells.
Tumor ablation offers a minimally invasive alternative to traditional surgery, which is especially beneficial for patients who are not suitable candidates for surgery due to age, health conditions, or the location of the tumor. This increase in preference towards less invasive options is a major factor which contribute to growth of market.
The technological advancement in tumor ablation procedure is driving the market growth. Techsomed has gained FDA De Novo clearance for its BioTraceIO software, which enhances ultrasound-guided liver ablation procedures. This AI-powered platform analyses ultrasound images in real-time, improving the accuracy of ablation treatments for liver tumors. The technology has demonstrated superior performance compared to traditional imaging methods in clinical studies. The market for tumor ablation is driven due to rising cancer cases, which results in tumor growth. The World Health Organization on February, 01, 2024, there are new estimated 20 million new cancer cases and 9.7 million deaths. The estimated number of people who were alive within 5 years following a cancer diagnosis was 53.5 million. About 1 in 5 people develop cancer in their lifetime, approximately 1 in 9 men and 1 in 12 women die from the disease. The rise in cases of cancer patient, boosts demand for tumor ablation and its technologies.
With the rising cases of cancer patient increases the mortality, rates, thus companies focus on the approval and launch of the tumor ablation procedure and different technologies to enhance the efficacy in treatment and prevent mortality rates. For instance, in 2022, the Stryker, launched OptaBlate bone tumor ablation system (OptaBlate) received 510(k) clearance from the U.S. Food and Drug Administration. The addition of the OptaBlate technology to Stryker’s Interventional Spine (IVS) portfolio expands on its core competencies in vertebral augmentation and radiofrequency ablation and completes its portfolio of treatment options for metastatic vertebral body fractures.
Tumor Ablation Market – Industry Analysis
Market Drivers
Increasing cancer rates and aging population is contributing to the market growth
The global rise in cancer incidence is a significant driver for the increasing demand for tumor ablation procedures. In 2020, the World Health Organization (WHO) reported that cancer was the leading cause of death worldwide, accounting for around 10 million deaths. Notably, emerging economies in Asia, Africa, and Oceania reported 55% of the 18.1 million cancer cases diagnosed that year. In North America, the cancer burden remains substantial. In 2023, North America recorded 2.6 million cancer cases, representing 13.3% of the global total, and 7% of cancer deaths. The Centers for Disease Control and Prevention (CDC) highlighted that in 2020, the United States alone had 1,603,844 new cancer cases and 602,347 deaths. Cancer is the second leading cause of death in the U.S., with one in five deaths attributable to the disease. Data from the American Cancer Society in 2022 further underscores the urgency for effective treatments, revealing that approximately 42% of new cancer cases in the U.S. are potentially avoidable, including those linked to smoking, excess body weight, poor nutrition, and physical inactivity. As the global cancer patient population continues to grow, there is an escalating need for effective and accessible treatment options such as tumor ablation.
The global demographic shift toward an older population also drives the demand for tumor ablation. According to WHO projections, by 2030, one in six people globally will be aged 60 years or older, with the number of individuals in this age group rising from 1 billion in 2020 to 1.4 billion. By 2050, this number is expected to double to 2.1 billion, and the population of those aged 80 and older is anticipated to triple to 426 million. This aging population is more susceptible to cancer and often has inoperable tumors, increasing the need for minimally invasive treatment options like tumor ablation.
Advancements in tumor ablation technology reflect the growing demand for improved cancer treatments. For instance, in December 2022, TechsoMed Ltd. and the Fraunhofer Institute for Digital Medicine MEVIS announced a partnership to advance thermal ablation therapy for cancer treatment by integrating Fraunhofer MEVIS's SAFIR technology with TechsoMed’s BioTrace imaging software. The resulting “BioTrace IO 360” system aims to enhance the precision of tumor destruction while minimizing damage to surrounding healthy tissue. Such innovations are crucial for making tumor ablation a more reliable and widely adopted therapy, addressing the needs of patients with complex or inoperable tumors.
The establishment of specialized cancer treatment centers further highlights the ongoing efforts to improve cancer care. For example, the Sylvester Comprehensive Cancer Center launched the Sylvester Brain Tumor Institute (SBTI) in May 2024, to advance the treatment and research of brain cancer. The institute focuses on personalized care for challenging tumors such as glioblastomas, integrating diverse expertise to develop patient-specific tumor models, improve clinical trials, and identify biomarkers for better outcomes. This initiative underscores the commitment to enhancing cancer treatment and research, aligning with the increasing demand for effective and individualized cancer therapies.
Global Tumor Ablation Manufacturers Profiles
Medtronic plc
- Medtronic plc Basic Information, Manufacturing Base, Sales Area, and Competitors
|
Sr. No. |
Item |
Description |
|
1 |
Company Name |
Medtronic plc |
|
2 |
Website |
www.medtronic.com |
|
3 |
Established Date |
1949 |
|
4 |
Headquartered |
United States |
|
5 |
Market Position/ History |
Medtronic plc, headquartered in Dublin, Ireland, is one of the leading global healthcare technology companies. Medtronic was founded in 1949 and serves healthcare systems, physicians, clinicians, and patients in more than 150 countries worldwide. |
|
6 |
Sales Area |
Worldwide |
|
7 |
Manufacturing Location |
Connecticut, Puerto Rico, Mexico , China, Minnesota, Ireland, Dominican Republic, Arizona, Switzerland, California, Massachusetts, France, Italy, Colorado |
|
8 |
No. of Employees |
95,000+ |
|
9 |
Competitors |
|
|
10 |
CEO |
Geoff Martha |
|
11 |
Ownership Type |
Public |
|
12 |
Contact Information |
Operational headquarters 710 Medtronic Parkway, Minneapolis, MN 55432-5604 USA Phone: 763-514-4000 Toll-free: 800-633-8766 Principal executive suite Building 2 Parkmore Business Park West Galway, Ireland Phone: +353 1 438 1700 |
-
Business Segment/ Overview:
Medtronic plc is involved in the research, design, manufacture, and sale of products to alleviate pain, restore health, and extend life. Until now the company has served over 74 million patients and operates in 150+ countries across the globe. The company has four reportable segments that primarily develop, manufacture, distribute, and sell device-based medical therapies and services: the Cardiovascular
Portfolio, the Neuroscience Portfolio, the Medical Surgical Portfolio, and the Diabetes Operating Unit.
- The Cardiovascular Portfolio is made up of the Cardiac Rhythm & Heart Failure, Structural Heart & Aortic, and Coronary & Peripheral Vascular divisions. The primary medical specialists who use Cardiovascular products include electrophysiologists, implanting cardiologists, heart failure specialists, cardiovascular, cardiothoracic, and vascular surgeons, and interventional cardiologists and radiologists.
- The Neuroscience Portfolio is made up of the Cranial & Spinal Technologies, Specialty Therapies, and Neuromodulation divisions. The primary medical specialists who use the products of this group include spinal surgeons, neurosurgeons, neurologists, pain management specialists, anesthesiologists, orthopedic surgeons, urologists, urogynecologists, interventional radiologists, and ear, nose, and throat specialists.
- The Medical Surgical Portfolio includes the Surgical & Endoscopy and Acute Care & Monitoring divisions. Products and therapies of this group are used primarily by healthcare systems, physicians' offices, ambulatory care centers, and other alternate-site healthcare providers. While less frequent, some products and therapies are also used in home settings.
• The Diabetes Operating Unit develops, manufactures, and markets products and services for the management of Type 1 and Type 2 diabetes. The primary medical specialists who use and/or prescribe Diabetes products are endocrinologists and primary care physicians.
- Tumor Ablation Product Types Specification
|
Product |
Description |
|
OsteoCool Radiofrequency Ablation System |
The OsteoCool RF Ablation System is a cooled radiofrequency (RF) ablation technology. It offers simultaneous, dual-probe capabilities for treating painful bone tumors. Indications
|
- Recent Developments:
|
Year |
Latest News |
|
March 2024 |
Medtronic receives FDA clearance for OsteoCool 2.0 bone tumor ablation system Medtronic plc, one of the global leader in healthcare technology, announced that it has received U.S. Food and Drug Administration (FDA) 510(k) clearance for its OsteoCool 2.0 bone tumor ablation system for the treatment of painful bone metastases and benign bone tumors such as osteoid osteoma. |
- Business Strategy
Medtronic plc's business strategy is evolving around four key areas
- Leveraging pipeline to accelerate revenue growth: The combination of the company's end markets, recent product launches and robust pipeline is expected to continue accelerating its growth over both the near and long term. The company aim to bring inventive and disruptive technology to large healthcare opportunities which enables us to better meet patient needs.
- Serving more patients by accelerating innovation-driven growth and delivering shareholder value.
- Creating and disrupting markets with advanced technology
- Empowering operating units to be more nimble and more competitive
The company focuses on developing advanced medical technologies and therapies to improve patient outcomes across various medical conditions. For this the company invests heavily in research and development, spending around USD 2,735 Million in 2024. Further, collaborations with academic institutions, healthcare providers, and other stakeholders play a crucial role in fostering innovation at Medtronic. Medtronic has a strong global presence, operating in over 150 countries worldwide. The company's extensive distribution network and strategic partnerships enable it to penetrate emerging markets and adapt to local healthcare needs. The company aims to bring its innovative technologies to emerging markets as part of its growth strategy. Medtronic is leveraging emerging technologies such as artificial intelligence, big data, cloud computing, and IoT to digitally transform its operations. The company is developing IoT-enabled solutions that help healthcare providers deliver personalized care.
S.W.O.T Analysis
Strength
- Strong brand portfolio and market leadership across various medical device segments
- Diversified product portfolio catering to a broad spectrum of medical needs
- Global presence with operations in over 150 countries
- Solid financial performance with consistent revenue and profit margins
- Significant investment in research and development
Weakness
- High employee turnover rate
- Dependency on domestic market for sales of products
Opportunity
- The aging population and increasing prevalence of chronic diseases driving demand for medical devices
- Emerging markets offering significant growth potential
- Increasing adoption of minimally invasive therapies and home healthcare
- Opportunities for strategic acquisitions and partnerships to expand product portfolio and geographic reach
Threats
- Intense competition from established players and new entrants
- Pricing pressures and reimbursement cuts in certain markets
- Evolving regulatory landscape and stringent approval processes
- Potential cybersecurity threats and data breaches
