The global microwave ablation market was estimated at USD 133.41 million in 2021 and it is expected to surpass around USD 289.92 million by 2030, poised to grow at a CAGR of 9.01% from 2022 to 2030.
The microwave ablation market is growing rapidly due to its increasing incidences of tumors of the liver, lung, bone, and kidney globally. Additionally, a growing number of processes with the image-guided device is also expected to fuel the growth of the market. Technical advancements and a rising preference for minimally invasive surgeries is also expected to witness the growth of microwave ablation devices in near future. However, the high cost of devices used during the microwave ablation procedures and the preference for radiofrequency ablation devices over microwave ablation (MWA) devices by the respective surgeons is hindering the market growth.
Microwave ablation (MWA) is a thermal technology, that incorporates MRI and radio-frequency equipment for the treatment of various benign and malignant tumors. Microwave ablation is being explored for an assortment of restorative treatments including treatment of endometrial bleeding, uterine myomas, atrial fibrillation, and cancerous tumors within the liver, kidneys, pancreas, lungs, and breast. MWA offers a less-invasive elective to surgical resection of tumors, allowing shortened recovery times and offering a rational treatment choice for cancer patients who are not candidates for surgery. The microwave ablation procedure uses the most technically advanced devices that provide short ablation time, higher temperature for the ablation, weakened heat-sink effect than that of radiofrequency ablations, and large ablation zones. These factors are proven to improve tumor ablation efficacy using the MWA process.
The microwave ablation market is segmented based on component type into the generator, power distribution system, and accessories. Based on application, the microwave ablation market is segmented into oncology, cardiovascular, urology, orthopedic, and others. Additionally, based on the end-user, the market is segmented into hospitals, ambulatory surgical centers, and research laboratories.
The companies are working on developing innovative microwave ablation systems with the help of their research and innovation. For instance, In July 2020, Ethicon (Subsidiary of Johnson & Johnson Medical Devices Company) announced that the U.S. Food and Drug Administration (FDA) has approved their NEUWAVE Microwave Ablation System. Additionally, Medtronic plc has declared the breakthrough device designation status grant for the Emprint ablation catheter kit from the U.S. Food and Drug Administration (FDA), in April 2021. However, the higher number of product recalls may also impede market growth. For instance, the Solero Microwave Tissue Ablation (MTA) System and accessories from Angiodynamics Inc. has been terminated in June 2020 due to a lack of updates from the manufacturers to decrease the potential risks to patients due to delay in performing the procedure.
Scope of The Report
|Market Size in 2021|
|Revenue Forecast by 2030|
|Growth rate from 2022 to 2030||CAGR of%|
|Forecast Period||2022 to 2030|
|Segmentation||Component Type, Application, End-user, Region