Microwave ablation is novel thermal technology, that incorporates MRI and radio frequency for the management of malignant as well as benign tumors. These devices represent ultimate option for minimally invasive surgery of soft tissue such as liver, kidney, and lung. The basic components of microwave devices include a generator, power distribution system and antennas. In order to do image-guided surgery, several microwave ablation equipment can also be used with CT and ultrasound scanners. The use of a CT or ultrasound scanner during guided surgery makes it easier for the surgeon to locate the ablation target and position the right probe. Several factors, including surge in the incidence of cancer, rise in demand for minimally invasive procedures, and technological advancements are driving the growth of the market during the forecast period.
The Microwave Ablation Market is expected to grow at a strong CAGR of 9.2% during the forecast period owing to increasing cancer incidences globally. Several factors, such as adoption to sedentary lifestyles, unhealthy eating habits, consumption of alcohol, and others are leading causes of cancer globally. According to the World Cancer Research Fund International, there were around 18.1 million new cases of cancer worldwide in 2020, which are expected to reach 27.5 million by 2040. Apart from this, the introduction of new products in the market are also driving the market’s growth during the forecast period. For instance, the U.S. Food and Drug Administration (FDA) approved Ethicon, a division of Johnson & Johnson medical devices, to launch their transbronchial microwave ablation method in July 2020.
Based on the component, the market is segmented into generator, power distribution system, and accessories. The accessories segment held the maximum share in the global market. This segment majorly consists of applicator antenna which deliver high energy to tissue. The basic features of the antenna includes miminal invasiveness and high efficiency to penetrate deep into tissues to form larger ablation zones by active heating. Apart from this, several companies are also investing in designing new-edge antennae. For example, Medtronic has developed The Emprint SX navigation antennae that are armed with electromagnetic sensors to track the real-time position of antennae.
By application, the market is categorized into lung cancer, liver cancer, pancreatic cancer, kidney cancer, bone cancer, and others. The liver cancer held a significant share of the market in 2022 due to the increasing incidence of liver cancer and the growing demand for minimally invasive surgical procedures. According to the World Health Organization, liver cancer is the sixth most common cause of cancer-related deaths worldwide. The microwave ablation procedure is particularly useful for treating liver cancer as it allows for the destruction of the cancerous cells while minimizing damage to surrounding healthy tissue.
Based on end use, the market is segmented into hospitals, research laboratories, and ambulatory surgical centers. The hospitals held the significant share in the microwave ablation market in 2022. This is due to high adoption of microwave ablation systems in hospitals as most surgeries are performed in hospital settings. Apart from this, the growing number of hospitals is also propelling the segmental growth. For instance, according to the American Hospital Association, there were about 6,210 hospitals in the U.S. in 2018, of which 2,968 were community hospitals run by non-profit organizations and 972 by state and local governments.
For a better understanding of the market adoption of the dental clensing tablet industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, Rest of North America), Europe (Germany, U.K., France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. APAC is anticipated to grow at a substantial CAGR during the forecast period due to rising number of patients and increasing healthcare providers in developing nations, such as China and India. Further, the favorable government policies is also driving the market growth during the forecast period. For instance, the Health Minister Cancer Patient Fund (HMCPF) program of the Indian government offers financial aid to underprivileged cancer patients. Over the projection period, this is expected to increase demand for microwave ablation devices in this region.
Some of the major players operating in the market include Emblation Ltd.; Medtronic; Symple Surgical; AngioDynamics; Mermaid Medical; Johnson & Johnson Services Inc.; HUBER + SHUNER AG; MedWaves Inc; Terumo Corporation; and Varian Medical Systems, Inc.
1 MARKET INTRODUCTION
1.1. Market Definitions
1.2. Main Objective
1.3. Stakeholders
1.4. Limitation
2 RESEARCH METHODOLOGY OR ASSUMPTION
2.1. Research Process of the Microwave Ablation Market
2.2. Research Methodology of the Microwave Ablation Market
2.3. Respondent Profile
3 MARKET SYNOPSIS
4 EXECUTIVE SUMMARY
5 GLOBAL MICROWAVE ABLATION MARKET COVID-19 IMPACT
6 GLOBAL MICROWAVE ABLATION MARKET REVENUE, 2020-2030F