South Korea Tumor Ablation Market Size & Outlook
South Korea tumor ablation market, 2018-2030 (US$M)
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South Korea tumor ablation market highlights
- The South Korea tumor ablation market generated a revenue of USD 51.5 million in 2023 and is expected to reach USD 138.3 million by 2030.
- The South Korea market is expected to grow at a CAGR of 15.2% from 2024 to 2030.
- In terms of segment, radiofrequency ablation was the largest revenue generating technology in 2023.
- Other Ablation Technologies is the most lucrative technology segment registering the fastest growth during the forecast period.
Tumor ablation market data book summary
| Market revenue in 2023 | USD 51.5 million |
| Market revenue in 2030 | USD 138.3 million |
| Growth rate | 15.2% (CAGR from 2023 to 2030) |
| Largest segment | Radiofrequency ablation |
| Fastest growing segment | Other Ablation Technologies |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Radiofrequency Ablation, Microwave Ablation, Cryoablation, Irreversible Electroporation, Other Ablation Technologies |
| Key market players worldwide | Medtronic PLC, Boston Scientific Corp, Johnson & Johnson, AngioDynamics Inc, Bioventus Inc Class A, Edap TMS SA ADR, Mermaid Medical, Chongqing Haifu Technology, HealthTronics, H.S. Hospital Service |
Other key industry trends
- In terms of revenue, South Korea accounted for 3.1% of the global tumor ablation market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, Japan tumor ablation market is projected to lead the regional market in terms of revenue in 2030.
- China is the fastest growing regional market in Asia Pacific and is projected to reach USD 230.3 million by 2030.
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Tumor Ablation Market Scope
Tumor Ablation Market Companies
| Name | Profile | # Employees | HQ | Website |
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South Korea tumor ablation market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to tumor ablation market will help companies and investors design strategic landscapes.
Radiofrequency ablation was the largest segment with a revenue share of 34.56% in 2023. Horizon Databook has segmented the South Korea tumor ablation market based on radiofrequency ablation, microwave ablation, cryoablation, irreversible electroporation, other ablation technologies covering the revenue growth of each sub-segment from 2018 to 2030.
The government of South Korea has been actively supporting the healthcare and life sciences industries. Investments in R&D, as well as funding initiatives, encouraged the adoption of advanced technologies, such as minimally invasive tumor ablation surgeries.
In addition, several strategic initiatives by market players in the country are contributing to the market growth. For instance, in December 2022, RF Medical Co., Ltd., a Korea-based medical company, announced receiving FDA authorization for its MYOBLATE radiofrequency ablation system.
Constant advancements in the country are expected to lead to an increase in awareness among the country’s population regarding early prevention & treatment of cancers and further positively impact the market growth.
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Target buyers of South Korea tumor ablation market databook
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Our clientele includes a mix of tumor ablation market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of country-level data and insights on the South Korea tumor ablation market , including forecasts for subscribers. This country databook contains high-level insights into South Korea tumor ablation market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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South Korea tumor ablation market size, by technology, 2018-2030 (US$M)
South Korea Tumor Ablation Market Outlook Share, 2023 & 2030 (US$M)
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