Microwave Ablation Market: Current Analysis and Forecast (2023-2030)


Emphasis on Component (Generator, Power Distribution System, and Accessories); Application (Lung Cancer, Liver Cancer, Pancreatic Cancer, Kidney Cancer, Bone Cancer, and Others); and End User (Hospitals, Research Laboratories, and Ambulatory Surgical Centers); Region/Country.







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Research Methodology

Report Description

Microwave Ablation Market
Microwave Ablation Market

The microwave ablation market was valued at USD 1270.22 million and is expected to grow at a strong CAGR of around 9.2% during the forecast period (2023-2030). Microwave ablation is a minimally invasive procedure that can be performed using image-guided techniques, such as ultrasound or CT scan. This approach reduces the need for open surgery, resulting in shorter hospital stays, faster recovery times, and reduced healthcare costs. The growing preference for minimally invasive procedures among patients and healthcare professionals is expected to drive the demand for microwave ablation. The minimally invasive nature of microwave ablation offers following advantages:

  1. Reduced trauma and scarring: Since microwave ablation does not require large incisions or open surgery, it minimizes trauma to surrounding healthy tissues. This results in smaller scars and less post-procedure pain.
  2. Shorter hospital stays: Patients undergoing microwave ablation often experience shorter hospital stays compared to traditional open surgery. This allows for a faster recovery and a quicker return to daily activities.
  3. Faster recovery time: The minimally invasive nature of microwave ablation generally leads to faster recovery times. Patients may experience less pain, reduced risk of complications, and a quicker return to their normal routines.
  4. Lower risk of infection: With smaller incisions or needle insertions, the risk of infection is generally lower compared to open surgery. This is because there is less exposure of the internal tissues to external contaminants. asing government funding. Deteriorating health coupled with the rising cost of medical treatments is one of the major reasons for concern across the globe which is leading to an increase in demand for effective cancer therapeutics. Owing to this and increasing research focus on cancer treatments among researchers, many governments across the globe are taking various initiatives and have expedited their product approval process. In addition to this, many government and private organizations globally are providing funding opportunities to different cancer institutes and centers for the advancement of research across the cancer control spectrum in prevention, screening, diagnosis, treatment, rehabilitation, survivorship, and palliative care. For instance, The Canadian Cancer Society is presently providing funding and support to three center-based research initiatives that include, the Canadian Centre for Applied Research in Cancer Control (ARCC), the Canadian Cancer Trials Group (CCTG), and Propel Centre for Population Health Impact

Some of the major players operating in the F. Hoffmann-La Roche Ltd; Pfizer Inc.; AstraZeneca; MacroGenics, Inc.; Puma Biotechnology, Inc.; Amgen Inc.; Biocon;  Seagen Inc.; Viatris Inc.; and GSK plc. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.

Insights Presented in the Report

“Amongst component, the generators segment to grow with high CAGR during the forecast period”

Based on the component, the market is segmented into generator, power distribution system, and accessories. The generator segment is anticipated to grow with significant CAGR during the forecast period. In the microwave ablation market, the generator segment encompasses a range of devices designed to generate and control the microwave energy output. These generators are equipped with advanced technology to ensure precise and controlled energy delivery, optimizing the treatment outcomes. The rising incidence of cancer worldwide is a significant driver for the generator segment in the microwave ablation market. Microwave ablation is commonly used for the treatment of liver, lung, kidney, and bone tumors. As the global burden of cancer continues to grow, the demand for effective and minimally invasive treatment options like microwave ablation increases, thereby driving the demand for generators.

“Amongst treatment, the lung cancer category to grow with high CAGR during the forecast period”

By application, the market is categorized into lung cancer, liver cancer, pancreatic cancer, kidney cancer, bone cancer, and others. The lung cancer segment is anticipated to grow with high CAGR during the forecast period. Lung cancer is a significant health concern worldwide, and the development of effective treatment options is crucial. Microwave ablation (MWA) has emerged as a promising technique for the treatment of lung cancer, offering a minimally invasive approach with potentially favorable outcomes. Several factors contribute to the growth and demand for microwave ablation (MWA) in the lung cancer segment. Firstly, MWA offers an alternative for patients who are not suitable candidates for surgery or other invasive procedures. Furthermore, MWA has shown promising results in treating both primary and metastatic lung tumors. It can be used as a standalone treatment or in combination with other therapies, such as chemotherapy or radiation therapy, to enhance treatment outcomes. The ability of MWA to effectively target tumors of varying sizes and locations within the lungs further adds to its appeal in the lung cancer segment.

“Amongst application, the hospitals category to held significant share of the market in 2022”

Based on end use, the market is segmented into hospitals, research laboratories, and ambulatory surgical centers. The hospitals held a significant share of the market in 2022. Hospitals serve as primary healthcare institutions where cancer patients receive diagnosis, treatment, and ongoing care. They play a pivotal role in the management of cancer by providing state-of-the-art medical facilities, specialized expertise, and a multidisciplinary approach to patient care. The hospitals offer treatment to a large number of patients, allowing them to capitalize on economies of scale and offer more efficient and cost-effective services. Financial incentives from health insurance companies are also a major factor, as these can reduce the cost of treatment and make it more affordable for patients.

Microwave Ablation Market Report Coverage

Microwave Ablation Market
Microwave Ablation Market

“Asia Pacific to grow with high CAGR during the forecast period”

The Asia Pacific is anticipated to grow rapidly in the upcoming years owing to the surge in the prevalence of cancer and the encouraging response of microwave ablation in its management. . In 2020, 378,356 people died of cancer in Japan, according to a Ministry of Health, Labor, and Welfare report. This accounts for 27.6% of all deaths that year and equates to one in four people dying of cancer. Furthermore, the domestic companies are actively investing in the development of microwave ablation, thus driving the growth of the market. For instance, in 2020, AngioDynamics announced a strategic collaboration with Japan Lifeline Co., Ltd. to expand the availability and utilization of its microwave ablation technology in Japan. The collaboration aimed to leverage Japan Lifeline’s extensive network and expertise in the Japanese medical device market to enhance the distribution and awareness of AngioDynamics’ microwave ablation products.

Reasons to buy this report:

  • The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
  • The report presents a quick review of overall industry performance at one glance.
  • The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolios, expansion strategies, and recent developments.
  • Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
  • The study comprehensively covers the market across different segments.
  • Deep dive regional level analysis of the industry.

Customization Options:

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1.1.       Market Definitions
1.2.       Main Objective
1.3.       Stakeholders
1.4.       Limitation
2.1.       Research Process of the Microwave Ablation Market
2.2.       Research Methodology of the Microwave Ablation Market
2.3.       Respondent Profile
7.1.   Generator
7.2.   Power Distribution Systems
7.3.   Accessories
8.1.   Lung Cancer 
8.2.   Liver Cancer 
8.3.   Pancreatic Cancer
8.4.   Kidney Cancer
8.5.   Bone Cancer 
8.6.   Others 
9.1.   Hospitals 
9.2.   Ambulatory Surgical Centers
9.3.   Research Laboratories
10.1.        North America 
10.1.1.             United States
10.1.2.             Canada
10.1.3.             Rest of North America
10.2.        Europe  
10.2.1.             Germany
10.2.2.             France
10.2.3.             U.K.
10.2.4.             Italy
10.2.5.             Spain
10.2.6.             Rest of Europe
10.3.        Asia Pacific 
10.3.1.             China
10.3.2.             Japan
10.3.3.             India
10.3.4.             Rest of Asia Pacific
10.4.        Rest of World 
11.1.        Market Drivers
11.2.        Market Challenges
11.3.        Impact Analysis
14.1.        Demand Side Analysis
14.2.        Supply Side Analysis
16.1.        Porter’s Five Forces Analysis
16.2.        Competitive Landscape
17.1.        Medtronic  
17.2.        AngioDynamics 
17.3.        Emblation Ltd. 
17.4.        Johnson & Johnson Services Inc.
17.5.        HUBER+SUHNER AG 
17.6.        MedWaves, Inc. 
17.7.        Terumo Corporation 
17.8.        Varian Medical Systems, Inc.
17.9.        SympleSurgical Inc. 
17.10.     Mermaid Medical 

Research Methodology

Research Methodology for the Microwave Ablation Market Analysis (2022-2030)

Analyzing the historical market, estimating the current market, and forecasting the future market of the global microwave ablation market were the three major steps undertaken to create and analyze the adoption of microwave ablation in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global microwave ablation market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:

Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

Detail secondary study was conducted to obtain the historical market size of the microwave ablation market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.

Step 2: Market Segmentation:

After obtaining the historical market size of the microwave ablation market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as component type, application, and end use. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the microwave ablation market. Further, we conducted factor analysis using dependent and independent variables such as component type, application, and end use of the microwave ablation market. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the microwave ablation market sector across the globe.

Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global microwave ablation market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2030 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:

  • The industry’s market size, in terms of revenue (USD) and the adoption rate of the microwave ablation market across the major markets domestically
  • All percentage shares, splits, and breakdowns of market segments and sub-segments
  • Key players in the global microwave ablation market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market

Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants in Different Regions

Microwave Ablation Market
Microwave Ablation Market

Market Engineering

The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global microwave ablation market. data was split into several segments & sub-segments post studying various parameters and trends in the areas of the product, modality, application, and end user in the global microwave ablation market.

The main objective of the Global Microwave Ablation Market Study

The current & future market trends of the global microwave ablation market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:

  • Analyze the current and forecast market size of the microwave ablation market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
  • Segments in the study include areas of the component type, application, and end use
  • Define and analysis of the regulatory framework for the microwave ablation industry
  • Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry
  • Analyze the current and forecast market size of the microwave ablation market for the major region
  • Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the World
  • Company profiles of the microwave ablation market and the growth strategies adopted by the market players to sustain in the fast-growing market
  • Deep dive regional level analysis of the industry

You can also purchase parts of this report. Do you want to check out a section wise
price list?