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The U.S. Interventional Oncology Device Market Was Valued at Over $4.2 Billion in 2015; Growth in This Market Will Remain Stable, Driven by Strong Adoption of Radioactive Particles and Tumor Ablation Devices
VANCOUVER, BC --(Marketwired - February 11, 2016) - According to a new series of reports on the US market for interventional oncology devices by iData Research (www.idataresearch.com), the cancer tumor ablation device market is expected to exhibit ongoing growth due to a shift towards newer and more expensive procedures. As cancer rates continue to rise in the aging US population, the substantial increase in the patient base drives surgeons to resort to tumor ablation in order to reduce post-surgical discomfort in patients. Tumor ablation alleviates many of the problems associated with open surgical procedures such as risk of infection and scarring, while accelerating recovery time.
This market expansion has primarily been the result of growth in ablation probe sales across the three different modalities: cryoablation, microwave ablation and radio frequency ablation (RFA). AngioDynamics is the leader in the tumor ablation device market with their popular StarBurst® radio RFA portfolio accounting for over half of the entire RFA market. AngioDynamics' acquisition of Microsulis Medical in 2013 added the Acculis® microwave ablation system to their portfolio, which continues to make inroads in the oncology device market.
Similar to AngioDynamics, Covidien is a major competitor in the tumor ablation device market, capturing nearly one-third of the overall market. The new microwave Emprint® and RFA systems are gaining market share. In order to remain competitive, AngioDynamics has introduced its NanoKnife® system, a product that uses a completely different type of technology known as irreversible electroporation ablation, and it has received FDA clearance to market this product.
"Success in the ablation market will be achieved by selling more than one ablation modality," explains Dr. Kamran Zamanian, CEO of iData. "However, radio frequency ablation has been established as a standard of care in the tumor ablation space and will continue to maintain notable procedural volume and market share for many years to come."
In the US, there are approximately 600 facilities that offer tumor ablation treatments. While some sites may have all three types of ablation capabilities, many only have one. Despite the number of ablation sites available, approximately 80% of all tumor ablation procedures are performed by the top 30% of facilities. Large-scale, high-volume facilities receive substantial discounts in their purchases of both disposables and capital equipment. Many facilities also receive capital equipment royalty-free in exchange for buying a certain amount of disposables per annum.
For Further Information
More on the tumor ablation device market in the US can be found in a report suite published by iData Research entitled the US Interventional Oncology Market Report Suite. The suite covers reports on the following cancer procedures and markets, including: External Radiation Therapy Procedures and Devices, Internal Radiation Therapy Procedures and Devices, Tumor Ablation Procedures and Devices, Transcatheter Embolization Particle Procedures and Devices, and Overall Cancer Incidence Rates in the United States.
Reports also provide a comprehensive analysis including units sold, procedure numbers, market value, forecasts, as well as detailed competitive market shares and analysis of major players' success strategies in each market and segment. To find out more about oncology device market data or procedure data, register online or email us at email@example.com for a US Interventional Oncology Market Report Suite brochure and synopsis.
About iData Research
iData Research (www.idataresearch.com) is an international market research and consulting group focused on providing market intelligence for medical device and pharmaceutical companies. iData covers research in: Operating Room Equipment, Surgical Microscopes, Robotics and Surgical Navigation, Laparoscopy, Urology, Gynecology, Vascular Access, Endoscopy, Interventional Cardiology, Cardiac Surgery, Cardiac Rhythm Management, Electrophysiology, Ultrasound, X-Ray Imaging, Diagnostic Imaging, Oncology, Spinal Implants and VCF, Spinal MIS, Orthopedic Soft Tissue Repair and Regeneration, Orthopedic Trauma, Large & Small Joints, Anesthesiology, Wound Management, Orthopedics, Ophthalmics, Dental Operatory Equipment and more.
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