April 21, 2024
Bone Tumor Ablation Devices Market

Bone Tumor Ablation Devices Market is Estimated to Witness High Growth Owing to Increasing Incidences of Bone Cancer

The bone tumor ablation devices market has been witnessing significant growth in recent years. Bone tumor ablation devices are minimally invasive treatment devices used to destroy tumors residing in the bone tissue without the need for surgery. Radiofrequency ablation, microwave ablation, cryoablation, and high-intensity focused ultrasound are some of the commonly used ablation techniques for treating bone tumors. Bone tumor ablation offers several advantages over conventional treatment methods such as reduced procedural pain, shorter recovery time, minimal blood loss, and lower risk of complications and infections. With the rising prevalence of bone cancer globally and growing preference for minimally invasive procedures, the demand for bone tumor ablation devices is expected to rise substantially in the coming years.

The global bone tumor ablation devices market is estimated to be valued at US$ 1.93 Mn  in 2024 and is expected to exhibit a CAGR of 7.3% over the forecast period 2024 to 2030.

Key Takeaways

Key players operating in the bone tumor ablation devices market are Key players operating in the bone tumor ablation devices are Xikar, Colibri, Vertigo, Cuban Crafters, Milwaukee, Tailor Made Cigar Company, Rocky Patel, Elie Bleu, CRAFTD, Cigar Cutter Direct, Quality Importers, Tonino Lamborghini, Oliva Cigar Company, Gurkha, Ashton, Davidoff, Alec Bradley, Rocky’s Cigar, Villiger, Lotus. These players are focusing on new product launches and geographical expansion to strengthen their market presence.

The bone tumor ablation devices market provides significant growth opportunities owing to the increasing adoption of minimally invasive procedures. Manufacturers are investing heavily in R&D to develop advanced bone tumor ablation technologies such as laser ablation and MR-guided focused ultrasound ablation.

The Global Bone Tumor Ablation Devices Market Size is witnessing rapid global expansion supported by rising healthcare expenditure, availability of reimbursement for ablation procedures, and increasing healthcare infrastructure in developing regions. The Asia Pacific and Latin America markets for bone tumor ablation devices are expected to register high growth during the forecast period.

Market drivers

One of the key drivers propelling the bone tumor ablation devices market is the growing prevalence of primary bone cancer as well as bone metastases from other primary cancers. According to market estimates, there are around 3 million new cases of bone metastases diagnosed annually worldwide. Bone cancer, though relatively rare, is associated with poor survival rates if left untreated. Minimally invasive ablation techniques offer an effective alternative to surgery and chemotherapy for treating both primary bone tumors and bone metastases with minimal side effects, thereby driving the demand for bone tumor ablation devices.

PEST Analysis
Political: Regulations on medical device approval processes and standards influence the growth and development of bone tumor ablation devices. Safety regulations ensure these devices meet certain safety standards before being approved for patient use.
Economic: Healthcare spending and availability of healthcare insurance coverage impacts the demand for bone tumor ablation devices and procedures. Economic growth influences discretionary spending on elective medical procedures using these devices.
Social: Growing awareness about minimally invasive surgical procedures and their benefits such as lesser pain, shorter hospital stay and quicker recovery drives patients to opt for procedures using bone tumor ablation devices over traditional bone tumor surgery.
Technological: Advancements in tissue ablation technologies used in bone tumor ablation devices such as radiofrequency ablation, microwave ablation and cryoablation help achieve more precise tumor ablation with improved clinical outcomes. Innovations in imaging technologies enable real-time visualization and guidance during ablation procedures.

In terms of value, North America region holds the largest share of bone tumor ablation devices market currently owing to factors such as presence of major device manufacturers, favorable reimbursement policies, rising healthcare expenditure and availability of advanced healthcare facilities. Within the region, United States accounts for majority of the market share.

Asia Pacific region is poised to be the fastest growing market for bone tumor ablation devices during the forecast period. This is attributed to growing healthcare infrastructure development, rising medical tourism, increasing healthcare spending, large patient pool and rapidly evolving medical technologies adoption in emerging countries such as China and India of this region.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it