Global Interventional Oncology Ablation Market, by Technology (Radiofrequency Ablation, Microwave Ablation, Cryoablation, and Irreversible Electroporation Ablation), by Indication (Liver Cancer, Kidney Cancer, Lung Cancer, and Others), by End User (Hospitals & Clinics, Ambulatory Surgical Centers, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa), is estimated to be valued at US$ 453.1 million in 2020 and is expected to exhibit a CAGR of 7.8% over the forecast period (2020-2027), as highlighted in a new report published by Coherent Market Insights.
The increasing launches and approval of products are expected to fuel growth of the global interventional oncology ablation market in the near future.
For instance, in 2019, BTG International Canada Inc., a part of the global specialist healthcare company BTG plc, announced the launch of ICEfx Cryoablation System, which can be used by healthcare professionals and radiologist in hospitals, physician offices, and long term care facilities for the treatment of cancer. The ICEfx cryoablation system is also used by research institutes for research and development in the treatment of cancer by cryosurgery or cryoablation.
Moreover, for instance, in 2020, Ethicon Inc., a subsidiary of Johnson & Johnson, received the U.S. Food and Drug Administration (FDA) breakthrough device designation for its microwave ablation technology.
Global Interventional Oncology Ablation Market– Impact of Coronavirus (COVID-19) Pandemic
The COVID-19 pandemic caused major disruptions to clinical trial execution in the U.S., impacting key stakeholders across the industry. Investigative site capabilities experienced upheaval, driven by staff furloughs, social-distancing protocols, financial losses, and concerns over patient safety. Sponsors, CROs, and other organizations that support drug development shifted to remote working environments. An estimated 80% of non-COVID-19 trials were stopped or interrupted as a result of the COVID-19 pandemic.
Recently, the U.S. FDA guidance (March 2020 and updated July 2020) acknowledged that the impact of COVID-19 may require companies conducting clinical trials to consider virtual patient visits or put new processes in place of current protocols. Therefore, there are now more opportunities for using remote healthcare including conducting virtual or decentralized trials, site-less clinical trials, and use of other non-traditional approaches that do not involve in-person visits.
Moreover, regulatory bodies are focusing on imposing the guidelines to decrease the spread of the COVID-19 infection during conducting the clinical trials on participants/ subjects.
According to the U.S. Food Drug and Administration, clinical trials performed by companies and research institutes during the COVID-19 should follow the guidelines prescribed by the U.S. FDA.
The participants in the clinical trials should undergo COVID-19 screening procedures, to avoid the spread of COVID-19 infections during clinical trials.
Browse 207 Market Data Tables and 56 Figures spread through 389 Pages and in-depth TOC on “Interventional Oncology Ablation Market”- Global Forecast to 2020, by Technology (Radiofrequency Ablation, Microwave Ablation, Cryoablation, and Irreversible Electroporation Ablation), by Indication (Liver Cancer, Kidney Cancer, Lung Cancer, and Others), by End User (Hospitals & Clinics, Ambulatory Surgical Centers, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)
To know the latest trends and insights prevalent in the Global Interventional Oncology Ablation Market, click the link below:
Researchers and key players operating in the market are focusing on development of low cost treatment options for the treatment of cancer, which will provide lucrative opportunity to market players to launch their innovative products in the market and increase their market share.
For instance, in July 2019, researchers from the Johns Hopkins University developed low cost reusable cryoablation device for the treatment of breast cancer. The device uses carbon dioxide and works by freezing cancer cells. This device will be easily affordable and available in low and middle income countries for the treatment of breast cancer.
Key Takeaways of the Global Interventional Oncology Ablation Market:
Key players operating in the global interventional oncology ablation market include Boston Scientific Corporation, Johnson & Johnson, Medtronic Plc, Varian Medical Systems, Inc., EDAP TMS S.A., AngioDynamics, CASCINATION AG, Merit Medical Systems, Inc., STARmed Co., and Biomedical Srl.
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