The global microwave ablation market size was estimated to be USD 0.391 billion in 2023 and is expected to reach at USD 1.64 billion by 2034 with a CAGR of 13.92% during the forecast period 2024-2034. Rise in the incidences of liver, lung, bone, & kidney cancers, an increasing adoption of image-guided devices for medical procedures, growing advancements in technology, surge in preference for minimally invasive treatments, rise in changing lifestyles, unhealthy dietary habits, & the consumption of tobacco & alcohol, growing focus on research & development activities for catheter-based microwave devices, a surge in the introduction of innovative products, and an increasing approval of advanced microwave ablation systems are some of the key factors boosting the market growth.
Increasing approval of advanced microwave ablation systems is predicted to boost the market growth during the forecast period. Microwave ablation (MWA) is a thermal technology that integrates MRI and radio-frequency equipment to treat a variety of benign and malignant tumors. It is a viable treatment option for cancer patient’s ineligible for surgery. The procedure employs advanced devices, ensuring brief ablation times, higher temperatures, reduced heat-sink effect compared to radiofrequency ablations, and the creation of substantial ablation zones. For instance, in November 2023, Baird Medical Devices, Inc., a Chinese company specializing in the development and supply of microwave ablation (MWA) medical devices, has disclosed that its affiliate, Betters (Suzhou) Medical Co., Ltd, has obtained FDA 510(k) clearance to promote its range of MWA systems and disposable MWA needles as Class II devices under U.S. regulatory classification.
By component, accessories was the highest revenue-grossing segment in the global microwave ablation market in 2023 owing to the growing preference for minimally invasive procedures, with prominent companies actively engaged in manufacturing and promoting cutting-edge accessories. The accessories category, particularly the applicator antenna, plays a crucial role. These antennae are responsible for delivering energy to the tissue and offer various advantages with diverse clinical applications. Typically, multiple antennae are used in a single procedure to generate substantial and consistent ablation zones. Key features of these antennae involve high efficiency in penetrating deep tissues, facilitating active heating to create larger ablation zones. For instance, in March 2022, MedWaves, Inc. has commenced clinical trials for its AveCure 16 Gauge Flexible Microwave Ablation Probe, designed for lung cancer microwave ablation. The trials are set to conclude by June 2025. Additionally, generators is predicted to grow at the fastest CAGR during the forecast period owing to the continuous evolution of technology is evident in the field of medical devices. Generators play a pivotal role in supplying power to multiple antennae. Given the close proximity of the device to the patient, it is imperative to comply with the most stringent safety standards in human medicine. To safeguard against high voltage, there is an integrated DC/DC block in place. Sensors are employed to monitor both temperature and radio frequency power levels simultaneously. The generator boasts a prolonged service life, thanks to the robust radio frequency connectors designed for repeated connection cycles on the device.
By application, oncology was the highest revenue-grossing segment in the global microwave ablation market in 2023 owing to the escalating incidence of cancer, rising healthcare costs associated with the advancement of cancer treatments and solutions, the expanding utilization of ablation therapies, and a significant increase in government investments in research and development related to oncology. Additionally, cardiology is predicted to grow at the fastest CAGR during the forecast period owing to the increase in the occurrence of heart diseases, a growing demand for cardiac ablation therapy, and a rising level of investment by key market players in clinical trial procedures. For instance, in July 2023, Emblation, a health technology company from Scotland with its initial roots in Stirlingshire, has initiated a clinical trial worth $2 million in the United States, aiming to revolutionize the advancement of its microwave treatments.
By end-user, hospital was the highest revenue-grossing segment in the global microwave ablation market in 2023 owing to the extensive utilization of microwave ablation systems within hospital facilities, an increasing volume of surgeries conducted in hospital settings, and a rising global prevalence of hospitals. Additionally, research laboratories is predicted to grow at the fastest CAGR during the forecast period owing to the increasing clinical research focused on cancer and ablation therapies, coupled with heightened efforts by government organizations concerning ablation systems, is evident. For instance, in April 2022, The Food and Drug Administration (FDA) has declared the organization of a virtual public workshop titled "Study Design Considerations for Transbronchoscopic Thermal Ablation (TTA) Devices for the Treatment of Oligometastases to the Lung (OML)." The workshop aims to create a platform for stakeholders, encompassing clinicians, professional societies, patients, and manufacturers, to exchange information. The goal is to formulate suitable regulatory review strategies that guarantee the safety and efficacy of this innovative local therapy for treating OML.
North America region is anticipated for the highest revenue share during the forecast period owing to the widespread utilization of microwave ablation technology in primary healthcare settings, an increase in the prevalence of chronic diseases, substantial healthcare expenses supported by efficient reimbursement systems, and rise in the quantity of clinical trial procedures. For instance, in April 2023, Johnson & Johnson's MedTech Company, Ethicon, has reported the initiation of the treatment for the initial patient in North America as part of its Investigational Device Exemption (IDE) clinical trial, known as the POWER1 study. This prospective, single-arm, multicenter study is designed to validate the safety and efficacy of transbronchial microwave ablation utilizing the NEUWAVE FLEX Microwave Ablation System, guided by the MONARCH Platform. The research will be conducted in collaboration with prominent thoracic oncology centers globally and aims to enroll individuals with oligometastatic tumors in the lung. Additionally, Asia Pacific region is predicted to grow at fastest CAGR during the forecast period owing to the growing population of individuals dealing with chronic illnesses, a rise in healthcare spending facilitated by government backing, an upswing in technological progress, and an increasing acceptance of cutting-edge devices. For instance, in March 2023, CU Medicine, the Faculty of Medicine at The Chinese University of Hong Kong (CUHK), achieved a groundbreaking milestone by conducting the world's inaugural robotic-assisted bronchoscopic microwave ablation for lung metastases.
Increasing approval of advanced microwave ablation systems is predicted to boost the market growth during the forecast period. Microwave ablation (MWA) is a thermal technology that integrates MRI and radio-frequency equipment to treat a variety of benign and malignant tumors. It is a viable treatment option for cancer patient’s ineligible for surgery. The procedure employs advanced devices, ensuring brief ablation times, higher temperatures, reduced heat-sink effect compared to radiofrequency ablations, and the creation of substantial ablation zones. For instance, in November 2023, Baird Medical Devices, Inc., a Chinese company specializing in the development and supply of microwave ablation (MWA) medical devices, has disclosed that its affiliate, Betters (Suzhou) Medical Co., Ltd, has obtained FDA 510(k) clearance to promote its range of MWA systems and disposable MWA needles as Class II devices under U.S. regulatory classification.
By component, accessories was the highest revenue-grossing segment in the global microwave ablation market in 2023 owing to the growing preference for minimally invasive procedures, with prominent companies actively engaged in manufacturing and promoting cutting-edge accessories. The accessories category, particularly the applicator antenna, plays a crucial role. These antennae are responsible for delivering energy to the tissue and offer various advantages with diverse clinical applications. Typically, multiple antennae are used in a single procedure to generate substantial and consistent ablation zones. Key features of these antennae involve high efficiency in penetrating deep tissues, facilitating active heating to create larger ablation zones. For instance, in March 2022, MedWaves, Inc. has commenced clinical trials for its AveCure 16 Gauge Flexible Microwave Ablation Probe, designed for lung cancer microwave ablation. The trials are set to conclude by June 2025. Additionally, generators is predicted to grow at the fastest CAGR during the forecast period owing to the continuous evolution of technology is evident in the field of medical devices. Generators play a pivotal role in supplying power to multiple antennae. Given the close proximity of the device to the patient, it is imperative to comply with the most stringent safety standards in human medicine. To safeguard against high voltage, there is an integrated DC/DC block in place. Sensors are employed to monitor both temperature and radio frequency power levels simultaneously. The generator boasts a prolonged service life, thanks to the robust radio frequency connectors designed for repeated connection cycles on the device.
By application, oncology was the highest revenue-grossing segment in the global microwave ablation market in 2023 owing to the escalating incidence of cancer, rising healthcare costs associated with the advancement of cancer treatments and solutions, the expanding utilization of ablation therapies, and a significant increase in government investments in research and development related to oncology. Additionally, cardiology is predicted to grow at the fastest CAGR during the forecast period owing to the increase in the occurrence of heart diseases, a growing demand for cardiac ablation therapy, and a rising level of investment by key market players in clinical trial procedures. For instance, in July 2023, Emblation, a health technology company from Scotland with its initial roots in Stirlingshire, has initiated a clinical trial worth $2 million in the United States, aiming to revolutionize the advancement of its microwave treatments.
By end-user, hospital was the highest revenue-grossing segment in the global microwave ablation market in 2023 owing to the extensive utilization of microwave ablation systems within hospital facilities, an increasing volume of surgeries conducted in hospital settings, and a rising global prevalence of hospitals. Additionally, research laboratories is predicted to grow at the fastest CAGR during the forecast period owing to the increasing clinical research focused on cancer and ablation therapies, coupled with heightened efforts by government organizations concerning ablation systems, is evident. For instance, in April 2022, The Food and Drug Administration (FDA) has declared the organization of a virtual public workshop titled "Study Design Considerations for Transbronchoscopic Thermal Ablation (TTA) Devices for the Treatment of Oligometastases to the Lung (OML)." The workshop aims to create a platform for stakeholders, encompassing clinicians, professional societies, patients, and manufacturers, to exchange information. The goal is to formulate suitable regulatory review strategies that guarantee the safety and efficacy of this innovative local therapy for treating OML.
North America region is anticipated for the highest revenue share during the forecast period owing to the widespread utilization of microwave ablation technology in primary healthcare settings, an increase in the prevalence of chronic diseases, substantial healthcare expenses supported by efficient reimbursement systems, and rise in the quantity of clinical trial procedures. For instance, in April 2023, Johnson & Johnson's MedTech Company, Ethicon, has reported the initiation of the treatment for the initial patient in North America as part of its Investigational Device Exemption (IDE) clinical trial, known as the POWER1 study. This prospective, single-arm, multicenter study is designed to validate the safety and efficacy of transbronchial microwave ablation utilizing the NEUWAVE FLEX Microwave Ablation System, guided by the MONARCH Platform. The research will be conducted in collaboration with prominent thoracic oncology centers globally and aims to enroll individuals with oligometastatic tumors in the lung. Additionally, Asia Pacific region is predicted to grow at fastest CAGR during the forecast period owing to the growing population of individuals dealing with chronic illnesses, a rise in healthcare spending facilitated by government backing, an upswing in technological progress, and an increasing acceptance of cutting-edge devices. For instance, in March 2023, CU Medicine, the Faculty of Medicine at The Chinese University of Hong Kong (CUHK), achieved a groundbreaking milestone by conducting the world's inaugural robotic-assisted bronchoscopic microwave ablation for lung metastases.
Segmentation: Microwave Ablation Market Report 2023 - 2034
Microwave Ablation Market Analysis & Forecast by Component 2023 - 2034 (Revenue USD Bn)
- Power Distribution System
- Accessories
- Generator
Microwave Ablation Market Analysis & Forecast by Application 2023 - 2034 (Revenue USD Bn)
- Cardiology
- Oncology
- Orthopedics
- Urology
- Others
Microwave Ablation Market Analysis & Forecast by End-user 2023 - 2034 (Revenue USD Bn)
- Research Laboratories
- Hospitals
- Ambulatory Surgical Centers
Microwave Ablation Market Analysis & Forecast by Region 2023 - 2034 (Revenue USD Bn)
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- UK
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of LATAM
- Middle East & Africa
- South Africa
- GCC
- Rest of MEA
Table of Contents
1. Research Methodology
2. Introduction
4. Market Environment Analysis
5. Market Dynamics
7. Microwave Ablation Market: Component Estimates & Trend Analysis
8. Microwave Ablation Market: Application Estimates & Trend Analysis
9. Microwave Ablation Market: End-user Estimates & Trend Analysis
10. Regional Market Analysis
11. North America Microwave Ablation Market
12. Europe Global Microwave Ablation Market
13. Asia Pacific Global Microwave Ablation Market
14. Latin America Global Microwave Ablation Market
15. MEA Global Microwave Ablation Market
16. Competitor Analysis
17. Company Profiles
Companies Mentioned
- Medtronic
- Novo Nordisk A/S
- Propeller health
- Tandem Diabetes Care Inc.
- Biocorp
- Phillips-Medisize Llc
- Aptar Pharma
- Teva Respiratory Llc
- Adherium Limited
- Ypsomed AG
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 200 |
| Published | January 2024 |
| Forecast Period | 2023 - 2034 |
| Estimated Market Value ( USD | $ 0.39 Billion |
| Forecasted Market Value ( USD | $ 1.64 Billion |
| Compound Annual Growth Rate | 13.9% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
