The Global Microwave Ablation Devices market is expected to grow at a CAGR of 14.8% during the forecast period 2017–2023 to aggregate $823.6 million by 2023
Factors, such as rise in aging population, increase in minimally invasive ablation procedures, growing awareness about office-based ablation procedures, increased adoption of microwave systems for better support and improved patient outcome, and shift toward minimal and non-invasive procedures, are expected to drive the market growth during the forecast period.
Infoholic Research LLP, a global market research and consulting company, has published a study titled “Global Microwave Ablation Devices Market – Drivers, Opportunities, Trends, and Forecasts: 2017–2023” (August 2017).
According to Infoholic Research, the adoption of microwave ablation devices in treating tissue related chronic disorders, such as tumors and removal of small and large tissue, has enabled surgeons to surgically remove or destroy the tissue by transferring heat. Microwave ablation devices have proved its efficacy in treating primary and metastatic cancers and has become one of the standard treatment preferred by many surgeons for selected small liver, kidney, lung, and spleen tumors. The market has significant opportunities to offer high-quality treatment for various chronic diseases such as in oncology, gynecology, urology, cosmetic surgery, ophthalmology, and general surgery. The primary factors, such as increase in the prevalence of chronic disorders, rise in geriatric population, increase in the popularity of minimally invasive surgeries, and advances in technologies, are expected to contribute to the market growth significantly. The cost of microwave tissue ablation procedure is directly proportional to the size of the tissue/tumor and the number of probes required for the surgery. The popularity and growing awareness about microwave ablation techniques will contribute to the revenue of the market.
Request for sample report @ https://www.infoholicresearch.com/request-a-sample-report/?repid=6534
Products, such as Solero MTA System, NEUWAVE Microwave Ablation System, Evident MW Ablation System, AveCure Microwave System, and MicroThermX, are some of the branded microwave ablation systems that have shown best results and are in high demand in the market. According to Infoholic Research, the Global Microwave Ablation Devices market is expected to grow at a CAGR of 14.8% during the forecast period 2017–2023 to touch an aggregate of $823.6 million by 2023.
The market is analyzed based on three segments, namely product types, end-users, and regions. The product type covers generators/electrosurgical units and consumables, and the regions covered in the report are North America, Europe, Asia Pacific, and Rest of the World (ROW). In North America, the US and Canada are set to be the leading countries owing to the highest number of microwave ablation procedures performed in 2016. Europe is set to be the second leading region and held more than 27% of the market share in 2016. The UK, Germany, and France are among the top three leading countries in Europe in terms of revenue due to advancements in technology and anticipated launch of new products. In Asia Pacific, India and China are the most attractive countries for the players and they hold tremendous business opportunities. ROW is set to be an emerging market in the next 5–6 years.
The product areas covered in the report are generators/electrosurgical units and consumables. The consumables segment is the leading contributor accounting for 65% of the total microwave ablation devices market. The use of consumables is maximum as most of the microwave ablation procedures require them in every procedural step performed during the treatment. The increased adoption of energy-based devices, increase in demand for minimally invasive ablation procedures, and increasing application of microwave devices in chronic conditions owe to the high demand for consumables in the market. Generators are the second largest revenue contributor but have a steady growth rate as most of the developed countries have already purchased electrosurgical units. These devices/systems are expensive and require installation and upgrading owing to high capital investment initially. The emerging countries are expected to purchase new generators/electrosurgical units to adopt newer ablation techniques and offer advanced treatment for various chronic diseases by different tissue ablation procedures. Factors, such as high cost, lack of skilled surgeons, and stringent regulatory approval of devices in the market, will hamper the market growth. These emerging markets are potential markets and are expected to see a significant change in treating chronic diseases as they have a large pool of patients. The market is expected to be on a positive year on year growth rate as the ablation procedures are expected to significantly grow during the forecast period.
“Microwave ablation is the fastest growing tumor ablation technique giving a strong competition to radiofrequency ablation technique. The advantages and benefits of microwave systems, such as faster heating, shorter duration of procedural time, do not require long hospital stay, and less susceptible to heat sink effects, have increased its adoption among surgeons in the developed countries. Microwave ablation acts as a subset of radiofrequency ablation as it is more consistent and generates less heat when compared to radiofrequency ablation. The advances in robotics have enabled surgeons to perform procedures easily under multiple image-guided scanners such as CT and MRI. This has allowed achieving better results with minimal risk and complications. However, the cost of microwave ablation treatment remains a primary concern to most of the patients, which is challenging to the market. The shift toward minimal and non-invasive procedures is expected to boost the market growth” – Mohammed Azhar, Senior Research Analyst (Research – Healthcare) at Infoholic Research
Buy complete report @ https://www.infoholicresearch.com/report/microwave-ablation-market-2023/
Further, the report also aims to cover the below points:
- Provides an in-depth analysis of the key business opportunities in countries and verticals
- Provides complete details about the various types of ablation devices
- Provides complete details of trending ablation devices
- Provides complete details about the analysis of top players
- Provides industry outlook including current and future market trends, drivers, restraints, and emerging technologies
Ms. Kathakali Basu
Infoholic Research LLP