Tumor Ablation Market

The global tumor ablation market is projected to reach USD 1.4 billion by 2029 from USD 0.8 billion in 2024, at a CAGR of 10.0% from 2024 to 2029. The market is seeing steady growth driven by increasing cancer incidence, rising focus on minimally invasive procedures, and favorable reimbursement scenarios. The upsurge in the geriatric population and technological advancements create a greater demand for ablation technology.

The tumor ablation market is moderately competitive, with established companies and emerging manufacturers competing for the same market share. As of 2023, the key players operating in the global tumor ablation market are Johnson & Johnson MedTech (US), Medtronic Plc (Ireland), Stryker Corporation (US), Varian Medical Systems, Inc. (US), Olympus (Japan), AngioDynamics, Inc. (US), and Boston Scientific Corporation (US), among others.

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Product launches, partnerships and acquisitions, and expansions are the key strategies the top players in this market adopted in the last four years. In 2023, a major share of the tumor ablation market was held by Medtronic Plc (Ireland), Johnson & Johnson MedTech (US), and Stryker Corporation (US).

Medtronic Plc (Ireland)

Medtronic Plc is a leading healthcare technology company. Medtronic focuses on market growth through innovation and R&D. The company put in strategic efforts and received approvals for its tumor ablation system and probe kit. It has a comprehensive product portfolio of tumor ablation devices. The company invests in R&D and novel product portfolio to hold its strong position in the market. The company operates its business through four units: Cardiovascular, Neuroscience, Medical Surgical, and Diabetes. It has a wide geographic presence in more than 150 countries worldwide.

Johnson & Johnson MedTech (US)

Johnson & Johnson is a global leader and provides its customers with a range of healthcare products. Johnson & Johnson's subsidiary Ethicon Inc. offers microwave ablation systems. With 89 manufacturing facilities globally. The company operates through three business segments: Consumer Health, Pharmaceutical, and MedTech. J&J distributes its products directly or through channels. Johnson & Johnson has a strong brand value among tumor ablation end users, strong R&D capabilities, and a strong portfolio.

Stryker Corporation (US)

Stryker Corporation provides innovative solutions and is a global leader in medical technology. It has a strong global presence with headquarters in Asia, Europe, Latin America, and North America. The strategic expansions made by the company contribute to its position in the tumor ablation market; for instance, in June 2022, Stryker opened a new research & development facility, Stryker’s Global Technology Center (SGTC), in Gurgaon, India. This new facility aims to accelerate innovation in India and globally, supporting the mission of improving healthcare. The company is also committed to research & development to create and launch new tools that enhance patient and healthcare outcomes.

Related Reports:

Tumor Ablation Market by Technology (Radiofrequency, Microwave, Laser, IRE, HIFU, Cryoablation), Product (Generators, Probes), Mode (Surgical, Laparoscopic, Percutaneous), Cancer (Liver, Lung, Bone), End user (Hospitals, Clinic) - Global Forecast to 2029

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