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Global Microwave Ablation Market Trends and Drivers, Restraints, and Opportunities 2017-2023

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Global Microwave Ablation Market Trends and Drivers, Restraints, and Opportunities 2017-2023


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Global Microwave Ablation Market Trends and Drivers, Restraints, and Opportunities 2017-2023

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Global Microwave Ablation Market Trends and Drivers, Restraints, and Opportunities 2017-2023



Executive Summary

Global Microwave Ablation Devices Market-Drivers, Opportunities, Trends, and Forecasts: 2017-2023

Overview: Microwave ablation refers to the surgical removal of a body tissue by transferring heat to the target tissue. The process is used to remove a tiny or large quantity of tissue. A specially equipped needle is inserted near the site with image-guided modalities such as computed tomography, ultrasonography, and magnetic resonance imaging. The needle is subjected to various form of electrical tests depending on the type of technology used. This is a form of thermal ablation with energy spectrum of 300 MHz to 300 GHz used to produce tissue-heating effects. The increasing demand for energy-based ablation devices has increased the demand for microwave ablation procedures across the globe. The market is driven by several factors that contribute to the business growth globally.

The rise in awareness about minimally invasive surgeries or procedures has created a high adoption as it is less painful, performed as an outpatient procedure, and unlike traditional open surgeries they are less expensive. Minimally invasive surgeries are emerging as potential replacements for conventional therapeutic cancer surgeries for the treatment of various tumors of the prostate gland, lungs, and liver. Further, robotic navigation technologies that perform microwave ablation procedures more accurately are being incorporated to increase the popularity of these surgeries. The cost of microwave tissue ablation treatment is directly proportional to the size of the tissue/tumor and the number of probes required for the surgery.

The major products in the market include:

Solero MTA System

NEUWAVE Microwave Ablation System

Evident MW Ablation System

AveCure Microwave System

MicroThermX Devices

The market is dominated by Medtronic, AngioDynamics, NeuWave Medical (now Johnson & Johnson), MedWaves, and Perseon which has more than 75% market share in the Global Microwave Ablation Devices market. Factors, such as the increased prevalence of chronic disorders, growing popularity about minimally invasive surgeries, focus on early prevention, and the increase in disposable income, are driving the market growth.

Market Analysis: The Global Microwave Ablation Devices Market is estimated to witness a CAGR of 14.8% during the forecast period 2017-2023. The market is analyzed based on three segments, namely product type, end-users, and regions.

Regional Analysis: The regions covered in the report are North America, Europe, Asia Pacific, and Rest of the World (ROW). The Americas is set to be the leading region for the microwave ablation devices market growth followed by Europe. Asia Pacific and ROW are set to be the emerging regions. The emerging markets have a high potential to grow owing to an increase in the number of microwave ablation procedures due to the rise in disposable income, presence of a large pool of chronic patient population, and focus toward healthcare infrastructure. However, the high cost of devices and expensive procedural cost, lack of skilled electrophysiologist, lack of proper reimbursement policies, lack of awareness about advanced ablation devices in developing countries have a significant impact on the overall market growth.

Product Analysis: Consumables are the fastest growing segment and dominates the global ablation market with 65% of the total market. Cardiac arrhythmias are the most popular ablation treatment followed by cancer ablation methods in all the ablation types. The increase in the prevalence of chronic disorders and growing number of microwave ablation procedures are expected to drive the consumables market during the forecast period. The generator/electrosurgical unit segment is growing at a steady growth rate and is expected to see a significant growth in the emerging markets.

Key Players: Medtronic, AngioDynamics, NeuWave Medical (now Johnson & Johnson), MedWaves, Perseon, and other predominate & niche players.

Competitive Analysis: The Global Microwave Ablation Devices market is growing faster and has immense growth opportunities for vendors, especially in the developed regions. The presence of large, small, and local vendors in the market possess high competition. The vendors have a strong focus on acquiring smaller companies and expanding their business operations by leveraging their products portfolio across the globe. The competitive environment in the market will intensify further with an increase in product/service extensions, product innovations, and M&A. They form strategic alliances for the marketing or manufacturing of microwave ablation devices.

Benefits: The report provides complete details about the usage and adoption rate of microwave ablation devices for the treatment of various chronic disorders. Thus, the key stakeholders can know about the major trends, drivers, investments, vertical player's initiatives, and government initiatives toward the ablation devices adoption in the upcoming years along with details of the pureplay companies entering the market. Moreover, the report provides details about the major challenges that are going to impact on the market growth. Additionally, the report gives complete details about the key business opportunities to key stakeholders in order to expand their business and capture the revenue in specific verticals to analyze before investing or expanding the business in this market.

Key Stakeholders:

 

Table of Contents

1 Industry Outlook 10

1.1 Industry Overview 10

1.1.1 Generators/Electrosurgical Unit 11

1.1.2 Ablation Catheters 11

1.1.3 Consumables 11

1.2 Microwave ablation (MWA) 13

1.3 Major Diseases Covered 13

1.3.1 Cancer 13

1.3.2 Cardiac Arrhythmias 14

1.4 Industry Trends 14

1.5 PEST Analysis 15

2 Report Outline 15

2.1 Report Scope 15

2.2 Report Summary 16

2.3 Research Methodology 17

2.4 Report Assumptions 17

3 Market Snapshot 18

3.1 Total Addressable Market (TAM) 18

3.2 Segmented Addressable Market (SAM) 19

3.3 Related Markets 23

3.3.1 Surgical Devices Market 23

3.3.2 Radiofrequency Ablation Devices Market 23

3.3.3 Ablation Catheters Market 23

3.3.4 Cardiac Ablation Market 24

4 Market Outlook 24

4.1 Overview 24

4.2 Importance of Microwave Ablation Devices 26

4.3 Porter 5(Five) Forces 26

4.4 Market Dynamics 27

4.4.1 Drivers 28

4.4.1.1 Rise in incidence of chronic disorders 28

4.4.1.2 Increasing popularity of MI surgeries 28

4.4.1.3 Increase in the number of outpatient procedures 29

4.4.1.4 Increasing market awareness and campaigns 29

4.4.1.5 Rise in elderly population 30

4.4.2 Opportunities 30

4.4.2.1 Technological advancements 30

4.4.2.1 High adoption of microwave for better support and improve patient outcome 31

4.4.2.2 Increasing healthcare spending 31

4.4.2.3 Shift towards minimal and non-invasive procedures 32

4.4.3 Restraints 32

4.4.3.1 Complications and risk associated with microwave ablation procedures 32

4.4.3.2 Presence of substitutes 33

4.4.3.3 High cost of microwave ablation procedures 33

4.4.3.4 Stringent regulatory approval process 34

4.4.3.5 Lack of skilled electrophysiologists 34

4.5 DRO-Impact Analysis 34

4.6 Key Stakeholders 35

5 Product Type: Market Size and Analysis 36

5.1 Overview 36

5.2 Generators/Electrosurgical Units 38

5.2.1 Overview 38

5.2.2 Featured Products: Generators/Electrosurgical Units 40

5.3 Consumables 40

5.3.1 Overview 40

5.3.2 Featured Products: Consumables 41

5.4 Microwave Ablation 42

6 Application 43

6.1 Oncology 43

6.2 Cardiovascular 43

6.3 Orthopedic 44

6.4 Urology 44

6.5 Gynecology 44

6.6 Others 45

7 End-Users 45

7.1 Overview 45

7.2 Hospitals 46

7.3 Ambulatory Care 47

7.3.1 ASCs in the Americas 47

7.3.1.1 US 47

7.3.1.2 Canada 48

7.3.1.3 Mexico 48

7.3.1.4 Cuba 48

7.3.2 ASCs in the EMEA Region 48

7.3.2.1 UK 48

7.3.2.2 Germany 48

7.3.2.1 France 48

7.3.2.2 Israel 48

7.3.2.3 Africa 48

7.3.3 ASCs in the APAC Region 49

7.3.3.1 Australia 49

7.3.3.2 Japan 49

7.3.3.3 India 49

7.3.3.4 China 49

7.4 Physician's Office 49

8 Regions: Market Size and Analysis 50

8.1 Overview 50

8.2 North America 53

8.2.1 Market Overview 53

8.3 Europe 55

8.3.1 Market Overview 55

8.4 APAC 56

8.4.1 Market Overview 57

8.5 Rest of the World 59

8.5.1 Market Overview 59

9 Competitive Landscape 61

9.1 Overview 62

10 Vendor Profiles 63

10.1 AngioDynamics, Inc. 64

10.1.1 Overview 64

10.1.2 Business Units 65

10.1.3 Geographic Presence 66

10.1.4 Business Focus 67

10.1.5 SWOT Analysis 67

10.1.6 Business Strategy 68

10.2 Johnson & Johnson (NeuWave Medical) 68

10.2.1 Overview 68

10.2.2 Business Units 72

10.2.3 Geographic Presence 73

10.2.4 Business Focus 74

10.2.5 SWOT Analysis 75

10.2.6 Business Strategy 75

10.3 Medtronic PLC 76

10.3.1 Overview 76

10.3.2 Business Units 78

10.3.3 Geographic Presence 79

10.3.4 Business Focus 80

10.3.5 SWOT Analysis 80

10.3.6 Business Strategy 81

10.4 MedWaves, Inc 82

10.4.1 Overview 82

10.4.2 Business Focus 82

10.4.3 SWOT Analysis 82

10.4.4 Business Strategy 83

10.5 Perseon 83

10.5.1 Overview 83

10.5.2 Business Focus 84

10.5.3 SWOT Analysis 84

10.5.4 Business Strategy 85

11 Companies to Watch For 85

11.1 Emblation Microwave. 85

11.1.1 Overview 85

11.1.2 Key Highlights 86

11.2 Miramar Labs. 86

11.2.1 Overview 86

11.2.2 Key Highlights 86

11.3 Urologix, LLC 87

11.3.1 Overview 87

11.4 Symple Surgical 87

Annexure 88

Abbreviations 88

 

To know more information on Purchase by Section, please send a mail to sales@kenresearch.com

Charts

 

CHART 1 ABLATION DEVICES MARKET SEGMENTATION BY PRODUCT TYPE 10

CHART 2 PEST ANALYSIS OF GLOBAL MICROWAVE ABLATION DEVICES MARKET 15

CHART 3 RESEARCH METHODOLOGY OF GLOBAL MICROWAVE ABLATION DEVICES MARKET 17

CHART 4 GLOBAL MEDICAL DEVICES MARKET SEGMENTATION 18

CHART 5 GLOBAL MICROWAVE ABLATION DEVICES MARKET REVENUE, 2016-2023 (USD MILLION) 22

CHART 6 PORTER 5 FORCES ON GLOBAL MICROWAVE ABLATION DEVICES MARKET 26

CHART 7 MARKET DYNAMICS: DRO ANALYSIS 27

CHART 8 DRO-IMPACT ANALYSIS OF GLOBAL MCROWAVE ABLATION DEVICES MARKET 34

CHART 9 KEY STAKEHOLDERS 35

CHART 10 GLOBAL MICROWAVE ABLATION DEVICES MARKET BY PRODUCT TYPE SEGMENTATION, 2016 (%) 36

CHART 11 GLOBAL ABLATION DEVICES MARKET BY PRODUCT TYPE SEGMENTATION, 2023 (%) 37

CHART 12 GLOBAL MICROWAVE ABLATION DEVICES MARKET ATTRACTIVENESS BY PRODUCT TYPES, 2016 37

CHART 13 GLOBAL GENERATORS/ELECTROSURGICAL UNITS MARKET BY REVENUE, 2016-2023 (USD MILLION) 39

CHART 14 GLOBAL MICROWAVE CONSUMABLES MARKET BY REVENUE, 2016-2023 (USD MILLION) 40

CHART 15 GLOBAL MICROWAVE ABLATION DEVICES MARKET SEGMENTATION SHARE BY PRODUCT TYPE, 2016-2023 (USD MILLION) 41

CHART 16 GLOBAL MICROWAVE ABLATION DEVICES MARKET SEGMENTATION SHARE BY PRODUCT TYPE, 2016-2023 (%) 42

CHART 17 GLOBAL MICROWAVE ABLATION DEVICES MARKET BY END-USER SEGMENTATION, 2016 (%) 45

CHART 18 GLOBAL MICROWAVE ABLATION DEVICES MARKET BY GEOGRAPHICAL SEGMENTATION, 2016 (%) 51

CHART 19 GLOBAL MICROWAVE ABLATION DEVICES MARKET BY GEOGRAPHICAL SEGMENTATION, 2023 (%) 51

CHART 20 MICROWAVE ABLATION DEVICES MARKET REVENUE IN NORTH AMERICA, 2016-2023 (USD MILLION) 54

CHART 21 MICROWAVE ABLATION DEVICES MARKET REVENUE IN THE EUROPE REGION, 2016-2023 (USD MILLION) 55

CHART 22 MICROWAVE ABLATION DEVICES MARKET REVENUE IN THE APAC REGION, 2016-2023 (USD MILLION) 58

CHART 23 MICROWAVE ABLATION DEVICES MARKET REVENUE IN REST OF THE WORLD, 2016-2023 (USD MILLION) 60

CHART 24 GLOBAL MICROWAVE ABLATION DEVICES MARKET SEGMENTATION BY REGIONS, 2016-2023 (USD MILLION) 60

CHART 25 GLOBAL MICROWAVE ABLATION DEVICES MARKET SEGMENTATION BY REGIONS, 2016-2023 (%) 61

CHART 26 ANGIODYNAMICS, INC.: OVERVIEW SNAPSHOT 65

CHART 27 ANGIODYNAMICS, INC.: BUSINESS UNITS 65

CHART 28 ANGIODYNAMICS, INC.: GEOGRAPHIC PRESENCE 66

CHART 29 ANGIODYNAMICS, INC.: SWOT ANALYSIS 67

CHART 30 JOHNSON & JOHNSON: OVERVIEW SNAPSHOT 71

CHART 31 JOHNSON & JOHNSON: BUSINESS UNITS 72

CHART 32 JOHNSON & JOHNSON: GEOGRAPHIC PRESENCE 73

CHART 33 JOHNSON & JOHNSON: SWOT ANALYSIS 75

CHART 34 MEDTRONIC PLC: OVERVIEW SNAPSHOT 77

CHART 35 MEDTRONIC PLC: BUSINESS UNITS 78

CHART 36 MEDTRONIC PLC: GEOGRAPHICAL PRESENCE 79

CHART 37 MEDTRONIC PLC: SWOT ANALYSIS 80

CHART 38 MEDWAVES, INC.: SWOT ANALYSIS 82

CHART 39 PERSEON: SWOT ANALYSIS 84

 

Table of Contents

1 Industry Outlook 10

1.1 Industry Overview 10

1.1.1 Generators/Electrosurgical Unit 11

1.1.2 Ablation Catheters 11

1.1.3 Consumables 11

1.2 Microwave ablation (MWA) 13

1.3 Major Diseases Covered 13

1.3.1 Cancer 13

1.3.2 Cardiac Arrhythmias 14

1.4 Industry Trends 14

1.5 PEST Analysis 15

2 Report Outline 15

2.1 Report Scope 15

2.2 Report Summary 16

2.3 Research Methodology 17

2.4 Report Assumptions 17

3 Market Snapshot 18

3.1 Total Addressable Market (TAM) 18

3.2 Segmented Addressable Market (SAM) 19

3.3 Related Markets 23

3.3.1 Surgical Devices Market 23

3.3.2 Radiofrequency Ablation Devices Market 23

3.3.3 Ablation Catheters Market 23

3.3.4 Cardiac Ablation Market 24

4 Market Outlook 24

4.1 Overview 24

4.2 Importance of Microwave Ablation Devices 26

4.3 Porter 5(Five) Forces 26

4.4 Market Dynamics 27

4.4.1 Drivers 28

4.4.1.1 Rise in incidence of chronic disorders 28

4.4.1.2 Increasing popularity of MI surgeries 28

4.4.1.3 Increase in the number of outpatient procedures 29

4.4.1.4 Increasing market awareness and campaigns 29

4.4.1.5 Rise in elderly population 30

4.4.2 Opportunities 30

4.4.2.1 Technological advancements 30

4.4.2.1 High adoption of microwave for better support and improve patient outcome 31

4.4.2.2 Increasing healthcare spending 31

4.4.2.3 Shift towards minimal and non-invasive procedures 32

4.4.3 Restraints 32

4.4.3.1 Complications and risk associated with microwave ablation procedures 32

4.4.3.2 Presence of substitutes 33

4.4.3.3 High cost of microwave ablation procedures 33

4.4.3.4 Stringent regulatory approval process 34

4.4.3.5 Lack of skilled electrophysiologists 34

4.5 DRO-Impact Analysis 34

4.6 Key Stakeholders 35

5 Product Type: Market Size and Analysis 36

5.1 Overview 36

5.2 Generators/Electrosurgical Units 38

5.2.1 Overview 38

5.2.2 Featured Products: Generators/Electrosurgical Units 40

5.3 Consumables 40

5.3.1 Overview 40

5.3.2 Featured Products: Consumables 41

5.4 Microwave Ablation 42

6 Application 43

6.1 Oncology 43

6.2 Cardiovascular 43

6.3 Orthopedic 44

6.4 Urology 44

6.5 Gynecology 44

6.6 Others 45

7 End-Users 45

7.1 Overview 45

7.2 Hospitals 46

7.3 Ambulatory Care 47

7.3.1 ASCs in the Americas 47

7.3.1.1 US 47

7.3.1.2 Canada 48

7.3.1.3 Mexico 48

7.3.1.4 Cuba 48

7.3.2 ASCs in the EMEA Region 48

7.3.2.1 UK 48

7.3.2.2 Germany 48

7.3.2.1 France 48

7.3.2.2 Israel 48

7.3.2.3 Africa 48

7.3.3 ASCs in the APAC Region 49

7.3.3.1 Australia 49

7.3.3.2 Japan 49

7.3.3.3 India 49

7.3.3.4 China 49

7.4 Physician's Office 49

8 Regions: Market Size and Analysis 50

8.1 Overview 50

8.2 North America 53

8.2.1 Market Overview 53

8.3 Europe 55

8.3.1 Market Overview 55

8.4 APAC 56

8.4.1 Market Overview 57

8.5 Rest of the World 59

8.5.1 Market Overview 59

9 Competitive Landscape 61

9.1 Overview 62

10 Vendor Profiles 63

10.1 AngioDynamics, Inc. 64

10.1.1 Overview 64

10.1.2 Business Units 65

10.1.3 Geographic Presence 66

10.1.4 Business Focus 67

10.1.5 SWOT Analysis 67

10.1.6 Business Strategy 68

10.2 Johnson & Johnson (NeuWave Medical) 68

10.2.1 Overview 68

10.2.2 Business Units 72

10.2.3 Geographic Presence 73

10.2.4 Business Focus 74

10.2.5 SWOT Analysis 75

10.2.6 Business Strategy 75

10.3 Medtronic PLC 76

10.3.1 Overview 76

10.3.2 Business Units 78

10.3.3 Geographic Presence 79

10.3.4 Business Focus 80

10.3.5 SWOT Analysis 80

10.3.6 Business Strategy 81

10.4 MedWaves, Inc 82

10.4.1 Overview 82

10.4.2 Business Focus 82

10.4.3 SWOT Analysis 82

10.4.4 Business Strategy 83

10.5 Perseon 83

10.5.1 Overview 83

10.5.2 Business Focus 84

10.5.3 SWOT Analysis 84

10.5.4 Business Strategy 85

11 Companies to Watch For 85

11.1 Emblation Microwave. 85

11.1.1 Overview 85

11.1.2 Key Highlights 86

11.2 Miramar Labs. 86

11.2.1 Overview 86

11.2.2 Key Highlights 86

11.3 Urologix, LLC 87

11.3.1 Overview 87

11.4 Symple Surgical 87

Annexure 88

Abbreviations 88

 

Medtronic, AngioDynamics, NeuWave Medical (now Johnson & Johnson), MedWaves, Perseon, and other predominate & niche players


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