The global microwave ablation market is growing at a considerable CAGR of 13.5% during the forecast period. The rising geriatric population is one of the prime factors affecting and driving the market. Change in lifestyle and increasing adoption of minimally invasive treatment are also estimated to be the prime factors that are contributing significantly towards the growth of the market. However, the presence of alternative treatment options along with strict government rules and regulations are the major factors constraints that are hindering the growth of the global microwave ablation market across the globe. 

Moreover, the R&D for catheter-based microwave systems is one of the key factors that are creating opportunities for the market. New Product launches in the market are likely to drive the growth of the global microwave ablation market. For instance, in July 2020, the part of Johnson & Johnson medical devices company, Ethicon had put out the granted permission from U.S. Food and Drug Administration (FDA) for its transbronchial microwave ablation technology. This is regarded as the breakthrough devices program which is a voluntary program for certain medical devices in order to offer better and more treatment or diagnoses that are effective with regards to life-threatening or irreversibly debilitating diseases. This program will lead to offering adequate time for a health care provider to access at a time with the support of medical devices by increasing their speed for their development, assessment along review. 

Impact of COVID-19 on the Global Microwave Ablation Market 

The global microwave ablation market is hardly hit by the COVID-19 pandemic since December 2019. The COVID-19 pandemic in the major economies had disrupted the manufacturing and supply of raw materials. However, a microwave ablation system can be used for patients suffering from COVID-19 with hepatic tumors. This device will support in faster treatment with recovery timeless and short. 

Segmental Outlook 

The market is segmented based on application and end-user. Based on application, the market is segmented into oncology, cardiology, and other. By end-user, the market is segmented into hospitals and clinics along with research institutes.

Global Microwave Ablation Market Share by Application, 2020 (%)

Based on the application, cardiology holds a significant share in the market. This is a type of treatment that is given for disorders of the heart and blood vessels. Increasing cases of atrial fibrillation across the globe lead to the development of treatment of atrial fibrillation with the support of microwave ablation devices that are driving the growth of the segment in the market.

Regional Outlooks

The global microwave ablation market is analyzed based on the geographical regions that are contributing significantly towards the growth of the market. Based on the geography, the market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World. North America held a considerable share in 2020 in the global microwave ablation market. Some factors that are boosting the market growth in North America are growing cancer cases and leading manufacturers of microwave ablation systems in the region. Additionally, a well-developed infrastructure of health is another factor that is promoting the growth of the market.

Global Microwave Ablation Market, by Region 2021-2027

Asia-Pacific will have considerable growth in the Global Microwave Ablation Market 

Asia-Pacific region is expected to witness significant growth opportunities for the market. Rising Cases related to cancer along with advancement in technology for treatment related to cancer in the emerging economies of the region are likely to drive the growth of the regional market. Further due to health availability and rising health care expenditure in India and South Korea are also some of the factors that are affecting and impacting the growth in this market. 

Market Player Outlook

Key players of the global microwave ablation market are AngioDynamics, Boston Scientific Corp., Johnson & Johnson Services, Inc., Medtronic, Urologix, LLC. To survive in the market, these players adopt different marketing strategies such as product launches. For instance, in January 2021, Creo Medical had received clearance and approval from U.S. Food and Drug Administration (FDA) for an ablation device as Micro Blate Flex. Out of the company’s portfolio, this is the fourth device of the company to get approval for the gastrointestinal market. The micro blate tissue ablation technology utilities microwave energy that is of very high frequency empowering the physicians to make various clinical access methods along with ablating diseased tissue in multiple organ types. Further, it can also access inaccessible regions of the body along with treatment of a range of ENT indications that includes nasopharyngeal cancer and nasal polyps.

In November 2018, Emblation Ltd., which is one of the providers of microwave ablation technology had notified the approval by U.S. Food and Drug Administration (FDA) for clearance with regards to its swift microwave ablation system. The swift system supports non-invasive procedures for the coagulation of soft tissue as it is a surface-based device. Additionally, these devices let’s give fast, simple along with effective options for skin lesions with a few second treatment times. Further, the microwave energy at low level is delivered into the skin for rapid heat generation with the least damage to the skin surface. Till now it has been used in more than 30,000 procedures across the UK, Canada, and Australia.   

The Report Covers

    • Market value data analysis of 2020 and forecast to 2027.

    • Annualized market revenues ($ million) for each market segment.

    • Country-wise analysis of major geographical regions.

    • Key companies operating in the global microwave ablation market Based on the availability of data, information related to new product launches, and relevant news is also available in the report.

   • Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.

    • Analysis of market-entry and market expansion strategies.

    • Competitive strategies by identifying ‘who-stands-where in the market.