Published Date: 30-Nov-2022
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According to a new report, published by KBV research, The Global Microwave Ablation Market size is expected to reach $696.6 million by 2028, rising at a market growth of 14.1% CAGR during the forecast period.
The Hospital market is showcasing a CAGR of 13.6 % during the forecast period. This is due to the high utilization of microwave ablation systems in hospitals, as a large number of surgeries are conducted in hospital settings. Also, the market is predicted to expand in the region as a result of growing medical infrastructure along with a rising number of hospitals across the globe. The hospitals are rising the expenditure on advanced technologies leading to wide acceptance of microwave ablation in hospitals.
The Accessories market is leading the segment in the Global Microwave Ablation Market by Component in 2021; thereby, achieving a market value of $354.7 million by 2028. These generators are required to deliver power to antennae. High safety standards are needed to be met by these generators as they are used close to the patients. These generators have longer life due to sturdy radiofrequency connectors used on the device, thereby building repeated connection cycles.
The Cardiology market is exhibiting a CAGR of 14.3% during (2022 - 2028). This could be attributable to the high prevalence of heart diseases. Cardiovascular diseases are one of the leading causes of death and have reached the situation of the silent pandemic. Therefore, the need for cardiac ablation therapy is expected to grow as a result of the rising occurrence of CVD cases across the globe.
The North America market dominated the Global Microwave Ablation Market by Region in 2021; thereby, achieving a market value of $252.5 million by 2028. The Europe market is anticipated to grow at a CAGR of 13.6% during (2022 - 2028). Additionally, The Asia Pacific market would witness a CAGR of 14.9% during (2022 - 2028).
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Varian Medical Systems, Inc. (Siemens Healthineers AG), AngioDynamics, Inc., Medtronic PLC, Johnson & Johnson (Johnson & Johnson Services, Inc.), Terumo Corporation, Emblation Limited, HUBER+SUHNER AG, MedWaves, Inc., SympleSurgical, Inc. and Mermaid Medical Group
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