According to study, “Global Microwave Ablation Market Trends and Drivers, Restraints, and Opportunities 2017-2023” some of the major companies that are currently working in the global microwave ablation market are Medtronic PLC, BSD Medical, Covidien, Tactile medical, Johnson & JohnsonServices Inc., AngioDynamics Inc., MedWaves Inc., ECO, Perseon Medical, Valley Lab Covidien, Emblation Microwave Ltd., Vision Medical USA, MOSS S.P.A, Terumo Corporation, MimaPro, ProstaLund, Delta Medisains, Miramar Labs Inc., Symple Surgical, Neu Wave Medical, Urologix, LLC. These key players are constantly focusing on launching a long-term contract with distributors for growing the sales of microwave ablation systems particularly in the high penetrating markets for instance the U.S. The competition is mainly based on the design & manufacturing cost of a product. Local manufacturers offer products at low costs evaluated with global players, which allow consumers to choose from a wide selection of products.
Microwave ablation is a new therapy that is used generally in the field of oncology. It includes soft tissue ablation and tumor ablation. Soft tissue ablation includes heart arrhythmias, amenorrhea, cosmetic treatment and bone metastases. Tumor ablation includes lung, liver, renal, prostate, kidney and adrenal. Some of the essential features are shorter duration of procedural time, faster heating, independent of wall pressure, more uniform heating zone, less dependent on tissue properties, larger heating zone, no grounding pad or second pole necessary, do not require long hospital stay, and less vulnerable to heat sink effects etc.
Based on the product, the microwave ablation market is segmented into consumables and equipment. Based on the component type, the market is segmented into power distribution system, generator and accessories. Based on the application, the market is segmented into cardiovascular, oncology, urology, gynecology, and others. Based on end-users, the market is segmented into hospitals, ambulatory surgical centers, and physicians’ offices.
The market of microwave ablation is primarily driven by growing popularity on minimally invasive surgeries. Some of the other driving factors are rise in number of tumor ablation procedure, increase in disposable income, increased adoption of microwave systems for better support, improved patient outcome, change in the lifestyle of people & unhealthy eating habit increase in prevalence of chronic disorders, focus on early prevention. Apart from advantages, the factors hampering the market include lack of skilled surgeons, high cost, presence of alternatives and stringent regulatory approval of devices etc. In addition, some of the new trends impactinginclude advancement in technology, increasing adoption of laparoscopic & robotic supported microwave ablation technique and high growth potential in the emerging economies.
The North-America region holds the largest followed by Europe. The use of microwave ablation market have increased on an account of occurrence of cancer among people typically because of their consumption habits & presence of major leading producers of microwave ablation system. During the forecast period 2017-2023, it is predicted that the global microwave ablation market to grow at a CAGR of 14.8 %. It is expected that the market to reach at USD 823.6 million, by 2023. It is also anticipated that the future of the market will be bright due to rise in healthcare infrastructure & awareness concerning treatment of tumors.
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