Global Microwave Ablation Devices Market: Overview
Ablative therapies have become an established treatment option for those who have difficult to surgery in small size tumor. Microwave ablation is a type of ablative therapy. It is an alternative to radiofrequency ablation procedure. Microwave ablation devices are advanced medical devices used to treat different types of tumor utilizing electromagnetic waves. Microwave ablation device is the preferred option for minimally invasive surgery of soft tissue such as liver, kidney, and lung. Microwave ablation has low morbidity and mortality rates compared to traditional cancer treatment. Some of the microwave ablation devices are compatible with CT scanners and ultrasound scanners which provide the option of image-guided surgery.
Global Microwave Ablation Devices Market: Key Trends
Rise in prevalence of cancer, lower procedural cost, and potential to perform treatment in an outpatient setting are the factors that drive the global microwave ablation devices market. Additionally, increase in the number of tumor ablation procedures using image-guided devices is projected to propel the global market. Moreover, larger tumor ablation volumes, faster ablation times, ability to use multiple applicators, optimal heating of cystic masses, and less procedural pain are some advantages of microwave ablation devices anticipated to increase demand in the treatment of tumor cells. However, high cost of devices and high preference among surgeons for ablation therapies such as radiofrequency therapy are expected to hamper market growth.
Global Microwave Ablation Devices Market: Segmentation
The global microwave ablation devices market can be segmented based on product, application, end-user, and region. In terms of product, the global market can be classified into needle, generator, and accessories. The generator segment is projected to account for significant share of the market during the forecast period. Based on application, the global microwave ablation device market can be categorized into liver tumor, lung tumor, renal & adrenal diseases, and bone malignancies. The liver cancer segment is anticipated to dominate the global market owing to wide usage of these devices in the treatment of tumors which are generally less than five inches in diameter and mostly occur in liver. In terms of end-user, the global market can be divided into hospitals, ambulatory surgical centers, and others. The hospitals segment is expected to expand at a high CAGR during the forecast period owing to high preference of patients to avail all types of treatment under one roof.
Global Microwave Ablation Devices Market: Regional Analysis
In terms of region, the global microwave ablation devices market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominated the global market in 2018. The region is projected to account for significant share of the global market due to availability of well-defined reimbursement policies from public and private health insurance firms which provide patients easy access to surgery. Asia Pacific is anticipated to account for significant share of the market in terms of revenue during the forecast period due to high prevalence of various types of cancer and increase in adoption of advanced technology for cancer treatment.
Global Microwave Ablation Devices Market: Competitive Landscape
Major players operating in the global microwave ablation devices market include Johnson & Johnson Services, Inc., Medtronic, HUBER+SUHNER, MedWaves, Inc., Vison Medical USA, Inc., and Boston Scientific Corporation.
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