Tumor Ablation Market

The COVID-19 pandemic has led to an enormous burden on the healthcare system globally. The clinical services for cancer patients have been significantly affected in several aspects. For instance, the time-critical nature of diagnosis for COVID-19 and the large number of patients requiring hospital admission has diverted resources from healthcare services for patients with a chronic medical illness such as cancer. To accommodate a large number of COVID-19 patients, several prominent institutions and cancer centers have reoriented their clinical activity. Moreover, official recommendations from authorities in several countries had asked to cancel non-urgent clinical activities and elective surgery at the beginning of the pandemic in 2020. They had also requested to reduce out-patient clinic visits. Several centers had also turned their operating theater into intensive care units (ICU) and recruited young oncologists for working in the ICU. Furthermore, several resources allocated to cancer care, such as general anesthesia, nurses, and medical staff, also faced limitations in dealing with the COVID-19 care. Moreover, the closure of many cancer clinics due to the pandemic has led to the postponement or cancellation of patient appointments for cancer diagnostics, resulting in a decrease in new cancer diagnoses and a delay in treatments. Cancer follow-up or imaging appointments have also been delayed in many clinics around the world.

The key manufacturers have reported that market for the medical devices segment has been negatively impacted by COVID-19 and associated deferral of medical procedures in the first half of 2020. In addition, the global regulatory landscape has also been affected as the COVID-19 pandemic continues to affect the US and global economies. To meet the challenges presented by the pandemic, the US FDA and other health authorities have shifted their resources and priorities to deal with the pandemic. These pandemic-related disruptions have led to a slightly negative impact on the processing of regulatory submissions and slow agency review times necessary for the approval or clearance of new devices. Furthermore, some of the medical devices companies have also faced a slight decrease in revenue due to a decline in operating margin and diluted earnings per share. The pandemic has also affected the free cash flow for most companies.

However, the key players in the industry have made effective plans and strategies to cope with the disruptions caused by the COVID-19. They have successfully engaged in mergers & acquisitions to strengthen their product portfolio. The manufacturers have engaged in developing and launching new products related to tumor ablation for the oncology market. For instance,

In June 2021, Boston Scientific Corporation (US) acquired the remaining shares of Farapulse, Inc. (US). The acquisition will complement the existing Boston Scientific electrophysiology portfolio to include the FARAPULSE Pulsed Field Ablation (PFA) System—a non-thermal ablation system for the treatment of atrial fibrillation (AF) and other cardiac arrhythmias.In July 2021, Bioventus Inc. (US) and Misonix, Inc. (US), a provider of minimally invasive therapeutic ultrasonic technologies and regenerative medicine that enhance clinical outcomes, entered a definitive agreement by which Bioventus will acquire Misonix in a cash-and-stock transaction.In July 2020, SonaCare Medical (US) received regulatory approval from the National Medical Products Administration (NMPA), formerly known as the China FDA, for the Sonablate HIFU device for use in the treatment of prostate cancer and benign prostatic hypertrophy (BPH).

Hence, the key players are engaged in strengthening their portfolio related to tumor ablation for the oncology market.

Clinical trials are used for establishing the inclusion and exclusion criteria, determining the baseline parameters, monitoring the safety of the participants, and demonstrating the efficacy of the investigational product. A group of 36 investigators conducting clinical trials for cancer at institutions around the world between March and April 2020 was surveyed by the Cancer Research Institute (CRI). According to their findings, in the US and several countries in Europe, patient enrolment in active oncology clinical trials had reduced significantly at the time of the survey. In Europe, only 14% of the institutions continued to enroll patients at the usual rate. Over 200 interventional oncology studies were suspended, and 60% of investigators reported that the pandemic had a severe impact on clinical trials.

Furthermore, Clinical SCORE surveyed 363 clinical trial sites across a range of settings, provider specialties, and countries in April 2020. Around 36% of sites awaiting trial activation reported that the sponsors had postponed starting recruitment and enrollment, while 48% of sites were actively enrolling and randomizing patients saying they could not get patients to come for a visit. Research-dedicated sites and those with more than ten trials appear to be the most receptive to virtual visits. The percentage of enrolling sites experiencing substantial delays ranged from 54% to 61%.

Thus, the COVID-19 outbreak has affected clinical trials, and observational studies across the globe as major companies and institutes are facing issues in recruiting volunteers for the study. Additionally, the delay faced owing to the lack of staff is negatively affecting the clinical trials.

The pandemic has changed the business environment for numerous organizations across the globe. The supply chain is the key to fulfill customer demands. Several countries have implemented certain restrictions on imports and exports because of the pandemic in the first half of 2020. This has also affected the healthcare industry as many countries are dependent on other countries for raw material supply, component supply, system supply, and technology. The major players operating in the market are Johnson & Johnson (US), Medtronic plc (Ireland), and Boston Scientific Corporation (US). These players have their production facility distributed across the globe, including North America, Europe, Asia, and the Rest of the World. The lockdown and restrictions due to COVID-19 globally have resulted in a slight negative impact on the supply chain of tumor ablation products in the first half of 2020, however, the sales of tumor ablation products increased in the second half of 2020.