Microwave Ablation Market Report - Global Forecasts 2023
- July, 2017
- Domain: Healthcare - Medical Devices
- Get Free 10% Customization in this Report
Microwave ablation refers to the surgical removal of a body tissue by transferring heat to the target tissue. The process is used to remove a tiny or large quantity of tissue. A specially equipped needle is inserted near the site with image-guided modalities such as computed tomography, ultrasonography, and magnetic resonance imaging. The needle is subjected to various form of electrical tests depending on the type of technology used. This is a form of thermal ablation with energy spectrum of 300 MHz to 300 GHz used to produce tissue-heating effects. The increasing demand for energy-based ablation devices has increased the demand for microwave ablation procedures across the globe. The market is driven by several factors that contribute to the business growth globally.
The rise in awareness about minimally invasive surgeries or procedures has created a high adoption as it is less painful, performed as an outpatient procedure, and unlike traditional open surgeries they are less expensive. Minimally invasive surgeries are emerging as potential replacements for conventional therapeutic cancer surgeries for the treatment of various tumors of the prostate gland, lungs, and liver. Further, robotic navigation technologies that perform microwave ablation procedures more accurately are being incorporated to increase the popularity of these surgeries. The cost of microwave tissue ablation treatment is directly proportional to the size of the tissue/tumor and the number of probes required for the surgery.
The major products in the market include:
- Solero MTA System
- NEUWAVE Microwave Ablation System
- Evident MW Ablation System
- AveCure Microwave System
- MicroThermX Devices
The market is dominated by Medtronic, AngioDynamics, NeuWave Medical (now Johnson & Johnson), MedWaves, and Perseon which has more than 75% market share in the Global Microwave Ablation Devices market. Factors, such as the increased prevalence of chronic disorders, growing popularity about minimally invasive surgeries, focus on early prevention, and the increase in disposable income, are driving the market growth.
The Global Microwave Ablation Devices Market is estimated to witness a CAGR of 14.8% during the forecast period 2017–2023. The market is analyzed based on three segments, namely product type, end-users, and regions.
The regions covered in the report are North America, Europe, Asia Pacific, and Rest of the World (ROW). The Americas is set to be the leading region for the microwave ablation devices market growth followed by Europe. Asia Pacific and ROW are set to be the emerging regions. The emerging markets have a high potential to grow owing to an increase in the number of microwave ablation procedures due to the rise in disposable income, presence of a large pool of chronic patient population, and focus toward healthcare infrastructure. However, the high cost of devices and expensive procedural cost, lack of skilled electrophysiologist, lack of proper reimbursement policies, lack of awareness about advanced ablation devices in developing countries have a significant impact on the overall market growth.
Consumables are the fastest growing segment and dominates the global ablation market with 65% of the total market. Cardiac arrhythmias are the most popular ablation treatment followed by cancer ablation methods in all the ablation types. The increase in the prevalence of chronic disorders and growing number of microwave ablation procedures are expected to drive the consumables market during the forecast period. The generator/electrosurgical unit segment is growing at a steady growth rate and is expected to see a significant growth in the emerging markets.
Medtronic, AngioDynamics, NeuWave Medical (now Johnson & Johnson), MedWaves, Perseon, and other predominate & niche players.
The Global Microwave Ablation Devices market is growing faster and has immense growth opportunities for vendors, especially in the developed regions. The presence of large, small, and local vendors in the market possess high competition. The vendors have a strong focus on acquiring smaller companies and expanding their business operations by leveraging their products portfolio across the globe. The competitive environment in the market will intensify further with an increase in product/service extensions, product innovations, and M&A. They form strategic alliances for the marketing or manufacturing of microwave ablation devices.
The report provides complete details about the usage and adoption rate of microwave ablation devices for the treatment of various chronic disorders. Thus, the key stakeholders can know about the major trends, drivers, investments, vertical player’s initiatives, and government initiatives toward the ablation devices adoption in the upcoming years along with details of the pureplay companies entering the market. Moreover, the report provides details about the major challenges that are going to impact on the market growth. Additionally, the report gives complete details about the key business opportunities to key stakeholders in order to expand their business and capture the revenue in specific verticals to analyze before investing or expanding the business in this market.
1.1 Industry Overview
1.1.1 Generators/Electrosurgical Unit
1.1.2 Ablation Catheters
1.2 Microwave ablation (MWA)
1.3 Major Diseases Covered
1.3.2 Cardiac Arrhythmias
1.4 Industry Trends
1.5 PEST Analysis
2 Report Outline
2.1 Report Scope
2.2 Report Summary
2.3 Research Methodology
2.4 Report Assumptions
3 Market Snapshot
3.1 Total Addressable Market (TAM)
3.2 Segmented Addressable Market (SAM)
3.3 Related Markets
3.3.1 Surgical Devices Market
3.3.2 Radiofrequency Ablation Devices Market
3.3.3 Ablation Catheters Market
3.3.4 Cardiac Ablation Market
4 Market Outlook
4.2 Importance of Microwave Ablation Devices
4.3 Porter 5(Five) Forces
4.4 Market Dynamics
126.96.36.199 Rise in incidence of chronic disorders
188.8.131.52 Increasing popularity of MI surgeries
184.108.40.206 Increase in the number of outpatient procedures
220.127.116.11 Increasing market awareness and campaigns
18.104.22.168 Rise in elderly population
22.214.171.124 Technological advancements
126.96.36.199 High adoption of microwave for better support and improve patient outcome
188.8.131.52 Increasing healthcare spending
184.108.40.206 Shift towards minimal and non-invasive procedures
220.127.116.11 Complications and risk associated with microwave ablation procedures
18.104.22.168 Presence of substitutes
22.214.171.124 High cost of microwave ablation procedures
126.96.36.199 Stringent regulatory approval process
188.8.131.52 Lack of skilled electrophysiologists
4.5 DRO – Impact Analysis
4.6 Key Stakeholders
5 Product Type: Market Size and Analysis
5.2 Generators/Electrosurgical Units
5.2.2 Featured Products: Generators/Electrosurgical Units
5.3.2 Featured Products: Consumables
5.4 Microwave Ablation
7.3 Ambulatory Care
7.3.1 ASCs in the Americas
7.3.2 ASCs in the EMEA Region
7.3.3 ASCs in the APAC Region
7.4 Physician’s Office
8 Regions: Market Size and Analysis
8.2 North America
8.2.1 Market Overview
8.3.1 Market Overview
8.4.1 Market Overview
8.5 Rest of the World
8.5.1 Market Overview
9 Competitive Landscape
10 Vendor Profiles
10.1 AngioDynamics, Inc.
10.1.2 Business Units
10.1.3 Geographic Presence
10.1.4 Business Focus
10.1.5 SWOT Analysis
10.1.6 Business Strategy
10.2 Johnson & Johnson (NeuWave Medical)
10.2.2 Business Units
10.2.3 Geographic Presence
10.2.4 Business Focus
10.2.5 SWOT Analysis
10.2.6 Business Strategy
10.3 Medtronic PLC
10.3.2 Business Units
10.3.3 Geographic Presence
10.3.4 Business Focus
10.3.5 SWOT Analysis
10.3.6 Business Strategy
10.4 MedWaves, Inc
10.4.2 Business Focus
10.4.3 SWOT Analysis
10.4.4 Business Strategy
10.5.2 Business Focus
10.5.3 SWOT Analysis
10.5.4 Business Strategy
11 Companies to Watch For
11.1 Emblation Microwave.
11.1.2 Key Highlights
11.2 Miramar Labs.
11.2.2 Key Highlights
11.3 Urologix, LLC
11.4 Symple Surgical
Infoholic Research works on a holistic 360° approach in order to deliver high quality, validated and reliable information in our market reports. The Market estimation and forecasting involves following steps:
- Data Collation (Primary & Secondary)
- In-house Estimation (Based on proprietary data bases and Models)
- Market Triangulation
Market related information is congregated from both primary and secondary sources.
Involved participants from all global stakeholders such as Solution providers, service providers, Industry associations, thought leaders etc. across levels such as CXOs, VPs and managers. Plus, our in-house industry experts having decades of industry experience contribute their consulting and advisory services.
Include public sources such as regulatory frameworks, government IT spending, government demographic indicators, industry association statistics, and company publications along with paid sources such as Factiva, OneSource, Bloomberg among others.